PNC FINANCIAL SERVICES GROUP, INC.

For the period ended Mar 31, 2026. Filed May 5, 2026.

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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.

Mar 31, 2026 · Filed May 5, 2026

PNC$225.38-0.6%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2026

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-09718

The PNC Financial Services Group, Inc.

(Exact name of registrant as specified in its charter)

Pennsylvania	25-1435979
(State or other jurisdiction ofincorporation or organization)	(I.R.S. EmployerIdentification No.)

The Tower at PNC Plaza,300 Fifth Avenue, Pittsburgh, Pennsylvania 15222-2401

(Address of principal executive offices, including zip code)

(888)762-2265

(Registrant’s telephone number including area code)

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, par value $5.00	PNC	New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No☒

As of April 14, 2026, there were 401,564,632 shares of the registrant’s common stock ($5 par value) outstanding.

Cross-Reference Index to First Quarter 2026 Form 10-Q

	Pages
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited).
Consolidated Income Statement	44
Consolidated Statement of Comprehensive Income	45
Consolidated Balance Sheet	46
Consolidated Statement of Cash Flows	47
Notes to Consolidated Financial Statements (Unaudited)
Note 1 Accounting Policies	49
Note 2 Acquisition Activity	50
Note 3 Investment Securities	53
Note 4 Loans and Related Allowance for Credit Losses	56
Note 5 Loan Sale and Servicing Activities and Variable Interest Entities	66
Note 6 Goodwill and Mortgage Servicing Rights	68
Note 7 Leases	70
Note 8 Borrowed Funds	70
Note 9 Commitments	71
Note 10 Total Equity and Other Comprehensive Income	72
Note 11 Earnings Per Share	74
Note 12 Fair Value	75
Note 13 Financial Derivatives	82
Note 14 Legal Proceedings	88
Note 15 Segment Reporting	89
Note 16 Fee-based Revenue from Contracts with Customers	91
Note 17 Subsequent Events	92
Glossary	93
Defined Terms	93
Acronyms	93
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A).
Financial Review	1
Executive Summary	1
Consolidated Income Statement Review	5
Consolidated Balance Sheet Review	8
Business Segments Review	11
Risk Management	18
Average Consolidated Balance Sheet and Net Interest Analysis	36
Non-GAAP Financial Information	38
Recent Regulatory Developments	38
Critical Accounting Estimates and Judgments	38
Internal Controls and Disclosure Controls and Procedures	41
Cautionary Statement Regarding Forward-Looking Information	42
Item 3. Quantitative and Qualitative Disclosures about Market Risk.	21-38, 49-50,83-89
Item 4. Controls and Procedures.	41
PART II – OTHER INFORMATION
Item 1. Legal Proceedings	93
Item 1A. Risk Factors	93
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	93
Item 5. Other Information	94
Item 6. Exhibits	94
Exhibit Index	94
Corporate Information	95
Signature	96

MD&A TABLE REFERENCE
Table	Description	Page
1	Summary of Operations, Per Common Share Data and Performance Ratios	2
2	Balance Sheet Highlights and Other Selected Ratios	2
3	Summarized Average Balances and Net Interest Income	5
4	Noninterest Income	6
5	Noninterest Expense	7
6	Provision for Credit Losses	7
7	Summarized Balance Sheet Data	8
8	Loans	9
9	Investment Securities	9
10	Weighted-Average Expected Maturities of Mortgage and Asset-Backed Debt Securities	10
11	Details of Funding Sources	10
12	Retail Banking Table	12
13	Corporate & Institutional Banking Table	14
14	Asset Management Group Table	17
15	Details of Loans	19
16	Commercial and Industrial Loans by Industry	20
17	Commercial Real Estate Loans by Geography and Property Type	21
18	Residential Real Estate Loan Statistics	22
19	Home Equity Loan Statistics	23
20	Nonperforming Assets by Type	24
21	Change in Nonperforming Assets	24
22	Accruing Loans Past Due	25
23	Allowance for Credit Losses by Loan Class	26
24	Loan Charge-Offs and Recoveries	27
25	Senior and Subordinated Debt	28
26	Primary Contingent Liquidity Sources	28
27	PNC Bank Notes Redeemed	29
28	Parent Company Notes Issued	30
29	Parent Company Notes Redeemed	30
30	Credit Ratings and Outlook	31
31	Basel III Capital	32
32	Net Interest Income Sensitivity Analysis	33
33	Economic Value of Equity Sensitivity Analysis	34
34	Equity Investments Summary	34
35	Average Consolidated Balance Sheet and Net Interest Analysis	36
36	Reconciliation of Taxable-Equivalent Net Interest Income (non-GAAP)	38
37	Key Macroeconomic Variables in CECL Weighted-Average Scenarios	40

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS TABLE REFERENCE
Table	Description	Page
38	Acquisition Consideration	51
39	Fair Value and Unpaid Principal Balance of Loans from the FirstBank Acquisition	51
40	PCD Loan Activity	52
41	PSL Activity	52
42	Investment Securities Summary	53
43	Gross Unrealized Loss and Fair Value of Securities Available-for-Sale Without an Allowance for Credit Losses	54
44	Gains (Losses) on Sales of Securities Available-for-Sale	54
45	Contractual Maturity of Debt Securities	55
46	Fair Value of Securities Pledged and Accepted as Collateral	55
47	Analysis of Loan Portfolio	57
48	Nonperforming Assets	58
49	Commercial Credit Quality Indicators	59
50	Credit Quality Indicators for Residential Real Estate and Home Equity Loan Classes	60
51	Credit Quality Indicators for Automobile, Credit Card and Other Consumer Loan Classes	62
52	Loan Modifications Granted to Borrowers Experiencing Financial Difficulty	64
53	Financial Effect of FDMs	64
54	Delinquency Status of FDMs	65
55	Consumer FDMs	65
56	Rollforward of Allowance for Credit Losses	66
57	Loan Sale and Servicing Activities	67
58	Principal Balance, Delinquent Loans and Net Charge-offs Related to Serviced Loans For Others	67
59	Non-Consolidated VIEs	68
60	Mortgage Servicing Rights	69
61	Commercial Mortgage Servicing Rights – Key Valuation Assumptions	69
62	Residential Mortgage Servicing Rights – Key Valuation Assumptions	70
63	Lessor Income	70
64	Borrowed Funds	70
65	FHLB Advances, Senior Debt and Subordinated Debt	71
66	Commitments to Extend Credit and Other Commitments	71
67	Rollforward of Total Equity	72
68	Other Comprehensive Income (Loss)	73
69	Accumulated Other Comprehensive Income (Loss) Components	73
70	Dividends Per Share	73
71	Basic and Diluted Earnings Per Common Share	74
72	Fair Value Measurements – Recurring Basis Summary	75
73	Reconciliation of Level 3 Assets and Liabilities	76
74	Fair Value Measurements – Recurring Quantitative Information	78
75	Fair Value Measurements – Nonrecurring	79
76	Fair Value Option – Fair Value and Principal Balances	80
77	Fair Value Option – Changes in Fair Value	80
78	Additional Fair Value Information Related to Other Financial Instruments	81
79	Total Gross Derivatives	83
80	Gains (Losses) Recognized on Fair Value and Cash Flow Hedges in the Consolidated Income Statement	85
81	Hedged Items - Fair Value Hedges	85
82	Gains (Losses) on Derivatives Not Designated for Hedging under GAAP	86
83	Derivative Assets and Liabilities Offsetting	87
84	Credit-Risk Contingent Features	88
85	Business Segment Results	90
86	Reconciliation of Business Segment Results to Consolidated	91
87	Noninterest Income by Business Segment and Reconciliation to Consolidated Noninterest Income	92

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.