PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2025. Filed May 2, 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.
Mar 31, 2025 · Filed May 2, 2025
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Analysis of Loan Portfolio
Table 42 presents the composition and delinquency status of our loan portfolio at March 31, 2025 and December 31, 2024. Loan delinquencies include government insured or guaranteed loans and loans accounted for under the fair value option.
Table 42: Analysis of Loan Portfolio (a) (b)
| Accruing | ||||||||
|---|---|---|---|---|---|---|---|---|
| Dollars in millions | Current or LessThan 30 DaysPast Due | 30-59DaysPast Due | 60-89DaysPast Due | 90 Daysor MorePast Due | TotalPastDue (c) | NonperformingLoans | Fair ValueOptionNonaccrualLoans (d) | Total Loans (e)(f) |
| Commercial | ||||||||
| Commercial and industrial | $179,616 | $216 | $34 | $75 | $325 | $596 | $— | $180,537 |
| Commercial real estate | 31,450 | 6 | — | — | 6 | 851 | — | 32,307 |
| Equipment lease financing | 6,660 | 41 | 11 | — | 52 | 20 | — | 6,732 |
| Total commercial | 217,726 | 263 | 45 | 75 | 383 | 1,467 | — | 219,576 |
| Consumer | ||||||||
| Residential real estate | 44,767 | 287 | 132 | 183 | 602(c) | 287 | 234 | 45,890 |
| Home equity | 25,267 | 71 | 28 | — | 99 | 437 | 43 | 25,846 |
| Automobile | 15,142 | 73 | 19 | 7 | 99 | 83 | — | 15,324 |
| Credit card | 6,386 | 45 | 33 | 71 | 149 | 15 | — | 6,550 |
| Education | 1,522 | 25 | 14 | 36 | 75(c) | — | — | 1,597 |
| Other consumer | 4,040 | 10 | 7 | 7 | 24 | 3 | — | 4,067 |
| Total consumer | 97,124 | 511 | 233 | 304 | 1,048 | 825 | 277 | 99,274 |
| Total | $314,850 | $774 | $278 | $379 | $1,431 | $2,292 | $277 | $318,850 |
| Percentage of total loans | 98.74% | 0.24% | 0.09% | 0.12% | 0.45% | 0.72% | 0.09% | 100.00% |
| Commercial | ||||||||
| Commercial and industrial | $174,988 | $159 | $43 | $72 | $274 | $528 | $— | $175,790 |
| Commercial real estate | 32,657 | 25 | 18 | — | 43 | 919 | — | 33,619 |
| Equipment lease financing | 6,687 | 41 | 12 | — | 53 | 15 | — | 6,755 |
| Total commercial | 214,332 | 225 | 73 | 72 | 370 | 1,462 | — | 216,164 |
| Consumer | ||||||||
| Residential real estate | 45,134 | 234 | 106 | 188 | 528(c) | 278 | 475 | 46,415 |
| Home equity | 25,351 | 71 | 26 | — | 97 | 482 | 61 | 25,991 |
| Automobile | 15,155 | 83 | 22 | 9 | 114 | 86 | — | 15,355 |
| Credit card | 6,696 | 49 | 38 | 81 | 168 | 15 | — | 6,879 |
| Education | 1,557 | 25 | 15 | 39 | 79(c) | — | — | 1,636 |
| Other consumer | 3,998 | 10 | 8 | 8 | 26 | 3 | — | 4,027 |
| Total consumer | 97,891 | 472 | 215 | 325 | 1,012 | 864 | 536 | 100,303 |
| Total | $312,223 | $697 | $288 | $397 | $1,382 | $2,326 | $536 | $316,467 |
| Percentage of total loans | 98.66% | 0.22% | 0.09% | 0.13% | 0.44% | 0.73% | 0.17% | 100.00% |
(a)Amounts in table represent loans held for investment and do not include any associated ALLL.
(b)The accrued interest associated with our loan portfolio totaled $1.3 billion at both March 31, 2025 and December 31, 2024. These amounts are included in Other assets on the Consolidated Balance Sheet.
(c)Past due loan amounts include government insured or guaranteed residential real estate loans and education loans totaling $0.2 billion and $0.1 billion at March 31, 2025, respectively. Comparable amounts at December 31, 2024 were $0.3 billion and $0.1 billion, respectively.
(d)Consumer loans accounted for under the fair value option for which we do not expect to collect substantially all principal and interest are subject to nonaccrual accounting and classification upon meeting any of our nonaccrual policy criteria. Given that these loans are not accounted for at amortized cost, they have been excluded from the nonperforming loan population.
(e)Includes unearned income, unamortized deferred fees and costs on originated loans and premiums or discounts on purchased loans totaling $0.9 billion and $1.0 billion at March 31, 2025 and December 31, 2024, respectively.
(f)Collateral dependent loans totaled $1.6 billion at both March 31, 2025 and December 31, 2024.
At March 31, 2025, we pledged unpaid principal balances in the amounts of $44.5 billion of commercial and other loans to the FRB and $84.9 billion of residential real estate and other loans to the FHLB as collateral for the ability to borrow, if necessary. The comparable amounts at December 31, 2024 were $43.4 billion and $89.0 billion, respectively.
Nonperforming Assets
Nonperforming assets include nonperforming loans and leases, OREO and foreclosed assets. Nonperforming loans are those loans accounted for at amortized cost whose credit quality has deteriorated to the extent that full collection of contractual principal and interest is not probable. Interest income is generally not recognized on these loans. Loans accounted for under the fair value option are reported as performing loans; however, when nonaccrual criteria is met, interest income is not recognized on these loans. Additionally,
52 The PNC Financial Services Group, Inc. –Form 10-Q certain government insured or guaranteed loans for which we expect to collect substantially all principal and interest are not reported as nonperforming loans and continue to accrue interest. See Note 1 Accounting Policies in our 2024 Form 10-K for additional information on our nonperforming loan and lease policies.
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