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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Rollforward of Allowance for Credit Losses
Table 50: Rollforward of Allowance for Credit Losses
| Three months ended September 30 · Nine months ended September 30 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |||||||||
| In millions | Commercial | Consumer | Total | Commercial | Consumer | Total | Commercial | Consumer | Total | Commercial | Consumer | Total |
| Allowance for loan and lease losses | ||||||||||||
| Beginning balance | $3,230 | $1,293 | $4,523 | $3,243 | $1,393 | $4,636 | $3,148 | $1,338 | $4,486 | $3,259 | $1,532 | $4,791 |
| Charge-offs | (116) | (168) | (284) | (200) | (176) | (376) | (410) | (510) | (920) | (546) | (535) | (1,081) |
| Recoveries | 44 | 61 | 105 | 28 | 62 | 90 | 152 | 186 | 338 | 103 | 187 | 290 |
| Net (charge-offs) | (72) | (107) | (179) | (172) | (114) | (286) | (258) | (324) | (582) | (443) | (348) | (791) |
| Provision for credit losses | 23 | 113 | 136 | 151 | 84 | 235 | 282 | 285 | 567 | 408 | 178 | 586 |
| Other | (3) | 1 | (2) | 4 | — | 4 | 6 | 1 | 7 | 2 | 1 | 3 |
| Ending balance | $3,178 | $1,300 | $4,478 | $3,226 | $1,363 | $4,589 | $3,178 | $1,300 | $4,478 | $3,226 | $1,363 | $4,589 |
| Allowance for unfunded lending related commitments (a) | ||||||||||||
| Beginning balance | $616 | $143 | $759 | $581 | $136 | $717 | $580 | $139 | $719 | $545 | $118 | $663 |
| Provision for (recapture of) credit losses | 18 | (2) | 16 | (2) | 9 | 7 | 52 | 2 | 54 | 34 | 27 | 61 |
| Other | (1) | 1 | — | 1 | — | 1 | 1 | 1 | 2 | 1 | — | 1 |
| Ending balance | $633 | $142 | $775 | $580 | $145 | $725 | $633 | $142 | $775 | $580 | $145 | $725 |
| Allowance for credit losses at September 30 (b) | $3,811 | $1,442 | $5,253 | $3,806 | $1,508 | $5,314 | $3,811 | $1,442 | $5,253 | $3,806 | $1,508 | $5,314 |
(a)See Note 8 Commitments for additional information about the underlying commitments related to this allowance.
(b)Represents the ALLL plus allowance for unfunded lending related commitments and excludes allowances for investment securities and other financial assets, which together totaled $101 million and $111 million at September 30, 2025 and 2024, respectively.
The ACL related to loans totaled $5.3 billion at September 30, 2025 and $5.2 billion at December 31, 2024. The increase in reserves was driven primarily by changes in macroeconomic scenarios.
NOTE 4 LOANSALE ANDS ERVICING ACTIVITIES ANDV ARIABLE INTERESTE NTITIES
Loan Sale and Servicing Activities
As more fully described in Note 4 Loan Sale and Servicing Activities and Variable Interest Entities in our 2024 Form 10-K, we have transferred residential and commercial mortgage loans in securitization or sales transactions in which we have continuing involvement. Our continuing involvement in the FNMA, FHLMC and GNMA securitizations, Non-agency securitizations and loan sale transactions generally consists of servicing, repurchasing previously transferred loans under certain conditions and loss share arrangements, and, in limited circumstances, holding of mortgage-backed securities issued by the securitization SPEs.
We earn servicing and other ancillary fees for our role as servicer and, depending on the contractual terms of the servicing arrangement, we can be terminated as servicer with or without cause. At the consummation date of each type of loan transfer where we retain the servicing, we recognize a servicing right at fair value. See Note 5 Goodwill and Mortgage Servicing Rights and Note 11 Fair Value for information on our servicing rights, including the carrying value of servicing assets.
66 The PNC Financial Services Group, Inc. –Form 10-Q
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