PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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Mar 31, 2024 · Filed May 2, 2024
Contents
Payment Performance of FDMs Table
Table 47: Payment Performance of FDMs (a)
| Three Months Ended March 31, 2023Dollars in millions · Current or Less Than 30 Days Past Due · 30-59 Days Past Due · 60-89 Days Past Due · 90 Days or More Past Due · NonperformingLoans · Total | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Commercial | |||||||||
| Commercial and industrial | $193 | $1 | $30 | $224 | |||||
| Commercial real estate | 249 | 24 | 273 | ||||||
| Total commercial | 442 | 1 | 54 | 497 | |||||
| Consumer | |||||||||
| Residential real estate | 10 | $3 | $1 | 35 | 49 | ||||
| Home equity | 5 | 5 | |||||||
| Credit card | 7 | 2 | 2 | 2 | 13 | ||||
| Education | 1 | 1 | |||||||
| Other consumer | 1 | 1 | |||||||
| Total consumer | 18 | 5 | 2 | 3 | 41 | 69 | |||
| Total | $460 | $5 | $3 | $3 | $95 | $566 | |||
(a)Represents amortized cost basis.
We generally consider FDMs to have subsequently defaulted when they become 60 days past due after the most recent date the loan was modified. At March 31, 2024, loans that both (i) subsequently defaulted during the three months ended and (ii) were classified as FDMs during the twelve months preceding the default date were $49 million. Subsequently defaulted loans werenot material during the three months ended March 31, 2023.
We maintain the ACL related to loans at levels that we believe to be appropriate to absorb expected credit losses in the portfolios as of the balance sheet date. See Note 1 Accounting Policies in our 2023 Form 10-K for a discussion of the methodologies used to determine this allowance. A rollforward of the ACL related to loans follows:
The PNC Financial Services Group, Inc. –Form 10-Q 59
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