PNC FINANCIAL SERVICES GROUP INC

For the period ended Mar 31, 2024. Filed May 2, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

PNC$231.30+2.6%Stored close · as of Nov 9, 2026

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Contents

Analysis of Loan Portfolio

Table 39: Analysis of Loan Portfolio (a) (b)

	Accruing
Dollars in millions · Current or LessThan 30 DaysPast Due · 30-59DaysPast Due · 60-89DaysPast Due · 90 Daysor MorePast Due · TotalPastDue (c) · NonperformingLoans · Fair ValueOptionNonaccrualLoans (d) · Total Loans (e)(f)
Commercial
Commercial and industrial	$175,964	$125	$35	$90		$250		$578			$176,792
Commercial real estate	34,666	2				2		923			35,591
Equipment lease financing	6,423	22	4		26		13			6,462
Total commercial	217,053	149	39	90		278		1,514			218,845
Consumer
Residential real estate	46,072	257	92	175		524(c)		284		$506		47,386
Home equity	25,278	64	24		88		464		66		25,896
Automobile	14,586	81	19	5		105		97			14,788
Credit card	6,706	49	37	82		168		13			6,887
Education	1,774	25	17	43		85(c)				1,859
Other consumer	4,085	11	7	9		27		8			4,120
Total consumer	98,501	487	196	314		997		866		572		100,936
Total	$315,554	$636	$235	$404		$1,275		$2,380		$572		$319,781
Percentage of total loans	98.68%	0.20%	0.07%	0.13%		0.40%		0.74%		0.18%		100.00%
Commercial
Commercial and industrial	$176,796	$104	$45	$76		$225		$559			$177,580
Commercial real estate	34,685	7		9		16		735			35,436
Equipment lease financing	6,480	41	8		49		13			6,542
Total commercial	217,961	152	53	85		290		1,307			219,558
Consumer
Residential real estate	46,159	282	101	192		575(c)		294		$516		47,544
Home equity	25,533	63	27		90		458		69		26,150
Automobile	14,638	91	20	7		118		104			14,860
Credit card	6,991	54	39	86		179		10			7,180
Education	1,850	27	19	49		95(c)				1,945
Other consumer	4,227	16	11	10		37		7			4,271
Total consumer	99,398	533	217	344		1,094		873		585		101,950
Total	$317,359	$685	$270	$429		$1,384		$2,180		$585		$321,508
Percentage of total loans	98.71%	0.21%	0.08%	0.13%		0.43%		0.68%		0.18%		100.00%

(a)Amounts in table represent loans held for investment and do not include any associated ALLL.

(b)The accrued interest associated with our loan portfolio totaled $1.5 billion at both March 31, 2024 and December 31, 2023. These amounts are included in Other assets on the Consolidated Balance Sheet.

(c)Past due loan amounts include government insured or guaranteed residential real estate loans and education loans totaling $0.3 billion and $0.1 billion at both March 31, 2024 and December 31, 2023.

(d)Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policy criteria. Given that these loans are not accounted for at amortized cost, they have been excluded from the nonperforming loan population.

(e)Includes unearned income, unamortized deferred fees and costs on originated loans and premiums or discounts on purchased loans totaling $0.9 billion and $1.0 billion at March 31, 2024 and December 31, 2023, respectively.

(f)Collateral dependent loans totaled $1.4 billion at both March 31, 2024 and December 31, 2023, respectively.

At March 31, 2024, we pledged $50.8 billion of commercial and other loans to the Federal Reserve Bank and $90.9 billion of residential real estate and other loans to the FHLB as collateral for the ability to borrow, if necessary. The comparable amounts at December 31, 2023 were $51.3 billion and $89.5 billion, respectively. Amounts pledged reflect the unpaid principal balances.

Nonperforming Assets

Nonperforming assets include nonperforming loans and leases, OREO and foreclosed assets. Nonperforming loans are those loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable. Interest income is not recognized on these loans. Loans accounted for under the fair value option are reported as performing loans; however, when nonaccrual criteria is met, interest income is not recognized on these loans. Additionally, certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest are not reported as nonperforming loans and continue to accrue interest. See Note 1 Accounting Policies in our 2023 Form 10-K for additional information on our nonperforming loan and lease policies.

50 The PNC Financial Services Group, Inc. –Form 10-Q

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