PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Sep 30, 2025. Filed Nov 3, 2025.
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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.
Sep 30, 2025 · Filed Nov 3, 2025
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Noninterest Expense
Table 5: Noninterest Expense
| Three months ended · Nine months ended | ||||||||
|---|---|---|---|---|---|---|---|---|
| September 30 · June 30 · Change · September 30 · September 30 · Change | ||||||||
| Dollars in millions | 2025 | 2025 | $ | % | 2025 | 2024 | $ | % |
| Noninterest expense | ||||||||
| Personnel | $1,970 | $1,889 | $81 | 4% | $5,749 | $5,445 | $304 | 6% |
| Occupancy | 235 | 235 | — | —% | 715 | 714 | 1 | —% |
| Equipment | 416 | 394 | 22 | 6% | 1,194 | 1,054 | 140 | 13% |
| Marketing | 93 | 99 | (6) | (6)% | 277 | 250 | 27 | 11% |
| Other | 747 | 766 | (19) | (2)% | 2,296 | 2,555 | (259) | (10)% |
| Total noninterest expense | $3,461 | $3,383 | $78 | 2% | $10,231 | $10,018 | $213 | 2% |
Noninterest expense increased compared to the second quarter of 2025 and the first nine months of 2024. In both comparisons, the increase was driven by higher personnel costs as a result of increased business activity and higher equipment expenses reflecting continued investments in technology and branches, partially offset by lower other noninterest expense. Other noninterest expense in the third quarter of 2025 included a $48 million accrual release related to the FDIC’s special assessment. For the first nine months of 2024, other noninterest expense included $120 million of significant items in the second quarter of 2024 as well as a $130 million expense in the first quarter of 2024 related to the FDIC’s special assessment.
Effective Income Tax Rate
The effective income tax rate was 20.3% for the third quarter of 2025 compared to 18.8% for the second quarter of 2025, and 19.4% for the first nine months of 2025 compared to 18.9% for the same period in 2024.
8 The PNC Financial Services Group, Inc. –Form 10-Q
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