PNC FINANCIAL SERVICES GROUP INC
For the period ended Mar 31, 2025. Filed May 2, 2025.
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Mar 31, 2025 · Filed May 2, 2025
Contents
Subsequently Defaulted FDMs
Table 50: Subsequently Defaulted FDMs (a)
| Three months ended March 31, 2025Dollars in millions | Term Extension | Payment Delay | Repayment Plan | All Other Modifications (b) | Total |
|---|---|---|---|---|---|
| Commercial | |||||
| Commercial and industrial | $27 | $— | $— | $1 | $28 |
| Commercial real estate | 16 | — | — | — | 16 |
| Total commercial | 43 | — | — | 1 | 44 |
| Consumer | |||||
| Residential real estate | — | 15 | — | 1 | 16 |
| Home equity | — | 1 | — | 3 | 4 |
| Credit card | — | — | 7 | — | 7 |
| Total consumer | — | 16 | 7 | 4 | 27 |
| Total | $43 | $16 | $7 | $5 | $71 |
(a)Represents amortized cost basis.
(b)As of March 31, 2025, the following modification categories are included: interest rate reduction/term extension and other.
The PNC Financial Services Group, Inc. –Form 10-Q 61
At March 31, 2024, loans that both (i) subsequently defaulted during the three months ended and (ii) were classified as FDMs during the twelve months preceding the default date totaled $49 million.
We maintain the ACL related to loans at levels that we believe to be appropriate to absorb expected credit losses in the portfolios as of the balance sheet date. See Note 1 Accounting Policies in our 2024 Form 10-K for a discussion of the methodologies used to determine this allowance. A rollforward of the ACL related to loans follows:
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