PNC FINANCIAL SERVICES GROUP INC
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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FY2024 · Filed Feb 21, 2025
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Loan Modifications Granted to Borrowers Experiencing Financial Difficulty
The following table presents the amortized cost basis, as of the period end date, of FDMs granted during the twelve months ended December 31, 2024:
Table 53: Loan Modifications Granted to Borrowers Experiencing Financial Difficulty (a) (b)
| Year ended December 31, 2024Dollars in millions · Interest Rate Reduction · Term Extension · Payment Delay · Repayment Plan · Interest Rate Reduction and Payment Delay · Interest Rate Reduction and Term Extension · Payment Delay and Term Extension · Other (c) · Total · % of Loan Class | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Commercial | |||||||||||||||||||
| Commercial and industrial | $14 | $995 | $34 | $15 | $111 | $154 | $106 | $1,429 | 0.81% | ||||||||||
| Commercial real estate | 964 | 94 | 232 | 1,290 | 3.84% | ||||||||||||||
| Equipment lease financing | 2 | 2 | 0.03% | ||||||||||||||||
| Total commercial | 14 | 1,961 | 128 | 15 | 111 | 386 | 106 | 2,721 | 1.26% | ||||||||||
| Consumer | |||||||||||||||||||
| Residential real estate | 1 | 84 | 6 | 7 | 98 | 0.21% | |||||||||||||
| Home equity | 13 | $7 | 18 | 38 | 0.15% | ||||||||||||||
| Credit card | 62 | 62 | 0.90% | ||||||||||||||||
| Education | 5 | 5 | 0.31% | ||||||||||||||||
| Other consumer | 1 | 1 | 0.02% | ||||||||||||||||
| Total consumer | 6 | 97 | 70 | 6 | 25 | 204 | 0.20% | ||||||||||||
| Total | $14 | $1,967 | $225 | $70 | $15 | $117 | $386 | $131 | $2,925 | 0.92% | |||||||||
| Year ended December 31, 2023Dollars in millions | Interest Rate Reduction | Term Extension | Payment Delay | Repayment Plan | Interest Rate Reduction and Payment Delay | Interest Rate Reduction and Term Extension | Payment Delay and Term Extension | Other (c) | Total | % of Loan Class | |||||||||
| Commercial | |||||||||||||||||||
| Commercial and industrial | $13 | $683 | $65 | $14 | $18 | $156 | $150 | $1,099 | 0.62% | ||||||||||
| Commercial real estate | 47 | 816 | 17 | 87 | 967 | 2.73% | |||||||||||||
| Total commercial | 60 | 1,499 | 65 | 14 | 18 | 173 | 237 | 2,066 | 0.94% | ||||||||||
| Consumer | |||||||||||||||||||
| Residential real estate | 2 | 1 | 95 | 5 | 6 | 109 | 0.23% | ||||||||||||
| Home equity | 1 | 10 | $8 | 12 | 31 | 0.12% | |||||||||||||
| Credit card | 58 | 58 | 0.81% | ||||||||||||||||
| Education | 5 | 5 | 0.26% | ||||||||||||||||
| Other consumer | 1 | 1 | 0.02% | ||||||||||||||||
| Total consumer | 2 | 7 | 105 | 67 | 5 | 18 | 204 | 0.20% | |||||||||||
| Total | $62 | $1,506 | $170 | $67 | $14 | $23 | $173 | $255 | $2,270 | 0.71% | |||||||||
(a)The unfunded lending related commitments on FDMs granted were $0.9 billion and $0.4 billion during the year ended December 31, 2024 and 2023, respectively.
(b)Excludes the amortized cost basis of modified loans that were paid off, charged-off or otherwise liquidated as of the period end date.
(c)Represents all other modifications, and includes trial modifications and loans where we have received notification that a borrower has filed for Chapter 7 bankruptcy relief, but specific instructions as to the terms of the relief have not been formally ruled upon by the court.
128 The PNC Financial Services Group, Inc. –2024 Form 10-K
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