PNC FINANCIAL SERVICES GROUP INC
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
View on SEC.govAbout 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.
Jun 30, 2024 · Filed Aug 2, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Allowance for Credit Losses by Loan Class
The following table summarizes our ACL related to loans:
Table 24: Allowance for Credit Losses by Loan Class (a)
| June 30, 2024 · December 31, 2023 | |||||||
|---|---|---|---|---|---|---|---|
| Dollars in millions · Allowance Amount · Total Loans · % of Total Loans · Allowance Amount · Total Loans · % of Total Loans | |||||||
| Allowance for loans and lease losses | |||||||
| Commercial | |||||||
| Commercial and industrial | $1,728 | $178,789 | 0.97% | $1,806 | $177,580 | 1.02% | |
| Commercial real estate | 1,441 | 35,498 | 4.06% | 1,371 | 35,436 | 3.87% | |
| Equipment lease financing | 74 | 6,555 | 1.13% | 82 | 6,542 | 1.25% | |
| Total commercial | 3,243 | 220,842 | 1.47% | 3,259 | 219,558 | 1.48% | |
| Consumer | |||||||
| Residential real estate | 48 | 47,183 | 0.10% | 61 | 47,544 | 0.13% | |
| Home equity | 260 | 25,917 | 1.00% | 276 | 26,150 | 1.06% | |
| Automobile | 163 | 14,820 | 1.10% | 173 | 14,860 | 1.16% | |
| Credit card | 698 | 6,849 | 10.19% | 766 | 7,180 | 10.67% | |
| Education | 52 | 1,732 | 3.00% | 56 | 1,945 | 2.88% | |
| Other consumer | 172 | 4,086 | 4.21% | 200 | 4,271 | 4.68% | |
| Total consumer | 1,393 | 100,587 | 1.38% | 1,532 | 101,950 | 1.50% | |
| Total | 4,636 | $321,429 | 1.44% | 4,791 | $321,508 | 1.49% | |
| Allowance for unfunded lending related commitments | 717 | 663 | |||||
| Allowance for credit losses | $5,353 | $5,454 | |||||
| Allowance for credit losses to total loans | 1.67% | 1.70% | |||||
| Commercial | 1.73% | 1.73% | |||||
| Consumer | 1.52% | 1.62% | |||||
(a) Excludes allowances for investment securities and other financial assets, which together totaled $112 million and $120 million at June 30, 2024 and December 31, 2023, respectively.
The PNC Financial Services Group, Inc. –Form 10-Q 27
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.