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
Contents
Summarized Balance Sheet Data
Table 7: Summarized Balance Sheet Data
| March 31 · December 31 · Change | ||||
|---|---|---|---|---|
| Dollars in millions | 2025 | 2024 | $ | % |
| Assets | ||||
| Interest-earning deposits with banks | $32,298 | $39,347 | $(7,049) | (18)% |
| Loans held for sale | 1,236 | 850 | 386 | 45% |
| Investment securities | 137,775 | 139,732 | (1,957) | (1)% |
| Loans | 318,850 | 316,467 | 2,383 | 1% |
| Allowance for loan and lease losses | (4,544) | (4,486) | (58) | (1)% |
| Mortgage servicing rights | 3,564 | 3,711 | (147) | (4)% |
| Goodwill | 10,932 | 10,932 | — | —% |
| Other | 54,611 | 53,485 | 1,126 | 2% |
| Total assets | $554,722 | $560,038 | $(5,316) | (1)% |
| Liabilities | ||||
| Deposits | $422,915 | $426,738 | $(3,823) | (1)% |
| Borrowed funds | 60,722 | 61,673 | (951) | (2)% |
| Allowance for unfunded lending related commitments | 674 | 719 | (45) | (6)% |
| Other | 13,960 | 16,439 | (2,479) | (15)% |
| Total liabilities | 498,271 | 505,569 | (7,298) | (1)% |
| Equity | ||||
| Total shareholders’ equity | 56,405 | 54,425 | 1,980 | 4% |
| Noncontrolling interests | 46 | 44 | 2 | 5% |
| Total equity | 56,451 | 54,469 | 1,982 | 4% |
| Total liabilities and equity | $554,722 | $560,038 | $(5,316) | (1)% |
Our balance sheet was well positioned at March 31, 2025. In comparison to December 31, 2024:
Total assets decreased reflecting lower balances held with the FRB and lower securities balances, partially offset by higher loans outstanding.
Total liabilities decreased primarily due to lower deposits.
Total equity increased due to the benefit of net income and an improvement in AOCI, partially offset by dividends paid and common shares repurchased.
The following discussion provides additional information about the major components of our balance sheet. Information regarding our ACL related to loans is included in the Credit Risk Management section and Critical Accounting Estimates and Judgements section of this Financial Review and in Note 3 Loans and Related Allowance for Credit Losses. Information regarding our capital and regulatory compliance is included in the Liquidity and Capital Management portion of the Risk Management section in this Financial Review and in Note 19 Regulatory Matters in our 2024 Form 10-K.
8 The PNC Financial Services Group, Inc. –Form 10-Q
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