PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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Sep 30, 2026 · Filed Nov 3, 2026
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Acquisition Consideration
The following table includes the preliminary fair value of the identifiable tangible and intangible assets and liabilities from FirstBank:
Table 40: Acquisition Consideration
| January 5, 2026 | |
|---|---|
| In millions, except share data | Fair Value |
| Acquisition consideration | |
| Common stock issued (13,715,133 shares) (a) | $2,943 |
| Preferred stock issued (115,200 shares) | 119 |
| Cash paid | 1,238 |
| Total consideration | $4,300 |
| Assets | |
| Cash and due from banks | $162 |
| Interest-earning deposits with banks | 996 |
| Investment securities | 8,278 |
| Net loans | 15,177 |
| Core deposit intangible | 761 |
| Other | 1,282 |
| Total assets | $26,656 |
| Liabilities | |
| Deposits | $23,076 |
| Borrowed funds and other | 1,638 |
| Total liabilities | $24,714 |
| Net assets | $1,942 |
| Goodwill (b) | $2,358 |
(a) Amount includes $29 million of deferred restricted stock compensation and $13 million withheld to satisfy certain tax obligations.
(b) Includes immaterial measurement period adjustments recorded in the second quarter.
Preliminary goodwill of $2.4 billion recorded in connection with the transaction resulted from the reputation, operating model and expertise of FirstBank. The amount of goodwill recorded reflected the increased market share and related synergies that resulted from the acquisition and represents the excess purchase price over the estimated fair value of the net assets from FirstBank. The goodwill was allocated to our Retail Banking segment and is not deductible for income tax purposes. See Note 6 Goodwill and Mortgage Servicing Rights for additional information on our goodwill.
52 The PNC Financial Services Group, Inc. –Form 10-Q
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