PNC FINANCIAL SERVICES GROUP INC

For the period ended Jun 30, 2024. Filed Aug 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.

Jun 30, 2024 · Filed Aug 2, 2024

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

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Contents

Analysis of Loan Portfolio

Table 40: 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	$177,853	$95	$53	$86		$234		$702			$178,789
Commercial real estate	34,559	8	2	1		11		928			35,498
Equipment lease financing	6,514	19	6		25		16			6,555
Total commercial	218,926	122	61	87		270		1,646			220,842
Consumer
Residential real estate	45,984	278	91	155		524(c)		275		$400		47,183
Home equity	25,296	64	24		88		468		65		25,917
Automobile	14,607	92	22	6		120		93			14,820
Credit card	6,673	50	37	76		163		13			6,849
Education	1,654	27	15	36		78(c)				1,732
Other consumer	4,049	12	9	8		29		8			4,086
Total consumer	98,263	523	198	281		1,002		857		465		100,587
Total	$317,189	$645	$259	$368		$1,272		$2,503		$465		$321,429
Percentage of total loans	98.68%	0.20%	0.08%	0.11%		0.40%		0.78%		0.14%		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 June 30, 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 $0.2 billion and $0.1 billion at June 30, 2024. Comparable amounts at December 31, 2023 were $0.3 billion and $0.1 billion, respectively.

(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 June 30, 2024 and December 31, 2023, respectively.

(f)Collateral dependent loans totaled $1.6 billion and $1.4 billion at June 30, 2024 and December 31, 2023, respectively.

At June 30, 2024, we pledged $49.8 billion of commercial and other loans to the Federal Reserve Bank and $88.8 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.

The PNC Financial Services Group, Inc. –Form 10-Q 51

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