PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Noninterest Expense
Table 5: Noninterest Expense
| Year ended December 31 | Change | |||
|---|---|---|---|---|
| Dollars in millions | 2025 | 2024 | $ | % |
| Noninterest expense | ||||
| Personnel | $7,782 | $7,302 | $480 | 7% |
| Occupancy | 962 | 954 | 8 | 1% |
| Equipment | 1,606 | 1,527 | 79 | 5% |
| Marketing | 378 | 362 | 16 | 4% |
| Other | 3,106 | 3,379 | (273) | (8)% |
| Total noninterest expense | $13,834 | $13,524 | $310 | 2% |
Noninterest expense increased compared to 2024, driven by higher personnel costs, including higher variable compensation associated with increased business activity. These increases were partially offset by a decrease to other noninterest expense, primarily due to lower FDIC assessment expenses. Other noninterest expense in 2025 included a $108 million accrual release related to the FDIC’s special assessment. Other noninterest expense in 2024 included a $120 million PNC Foundation contribution expense in the second quarter and $112 million in costs related to the FDIC’s special assessment. Noninterest expense in 2024 also included $97 million of impairments in the fourth quarter, primarily related to technology investments.
We exceeded our 2025 continuous improvement program savings goal of $350 million. Our goal for 2026 is $350 million.
Effective Income Tax Rate
The effective income tax rate was 17.5% for 2025 compared with 17.8% for 2024. Both periods included the favorable resolution of certain tax matters.
The effective tax rate is generally lower than the statutory rate primarily due to tax credits we receive from our investments in low- income housing and new markets investments, as well as earnings on other tax exempt investments. Additional information regarding our effective tax rate is included in the Reconciliation of Statutory and Effective Tax Rates table in Note 18 Income Taxes.
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