PNC FINANCIAL SERVICES GROUP INC

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

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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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Contractual Maturity of Debt Securities

The following table presents, by remaining contractual maturity, the amortized cost, fair value and weighted-average yield of debt securities at March 31, 2024:

Table 37: Contractual Maturity of Debt Securities

March 31, 2024Dollars in millions · 1 Year or Less · After 1 Yearthrough 5 Years · After 5 Yearsthrough 10 Years · After 10Years · Total
Securities Available for Sale
U.S. Treasury and government agencies	$2,194		$2,994			$1,153			$2,175			$8,516
Residential mortgage-backed
Agency	1		233			3,592			26,175			30,001
Non-agency				12			551			563
Commercial mortgage-backed
Agency	9		659			763			349			1,780
Non-agency	1		106			91			668			866
Asset-backed		523			258			1,023			1,804
Other	276		1,969			316			153			2,714
Total securities available for sale at amortized cost	$2,481		$6,484			$6,185			$31,094			$46,244
Fair value	$2,442		$6,044			$5,873			$27,921			$42,280
Weighted-average yield, GAAP basis (a)	1.07%		2.44%			3.21%			3.18%			2.97%
Securities Held to Maturity
U.S. Treasury and government agencies	$8,727		$24,221			$1,629			$892			$35,469
Residential mortgage-backed
Agency		10			325			41,635			41,970
Non-agency						256			256
Commercial mortgage-backed
Agency		150			528			268			946
Non-agency	29		50						1,180			1,259
Asset-backed	16		1,518			2,368			1,362			5,264
Other	256		985			473			1,302			3,016
Total securities held to maturity at amortized cost	$9,028		$26,934			$5,323			$46,895			$88,180
Fair value	$8,894		$25,924			$5,140			$43,343			$83,301
Weighted-average yield, GAAP basis (a)	0.98%		1.56%			3.92%			2.91%			2.36%

(a)Weighted-average yields are based on amortized cost with effective yields weighted for the contractual maturity of each security. Actual maturities and yields may differ as certain securities may be prepaid.

At March 31, 2024, there were no securities of a single issuer, other than FNMA and FHLMC, that exceeded 10% of total shareholders’ equity. The FNMA and FHLMC investments had a total amortized cost of $36.6 billion and $31.7 billion and fair value of $33.3 billion and $29.1 billion, respectively.

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