PNC FINANCIAL SERVICES GROUP, INC.
For the period ended Sep 30, 2026. Filed Nov 3, 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.
Sep 30, 2026 · Filed Nov 3, 2026
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Business Segment Results and Reconciliation to Consolidated Table
Results of our reportable business segments for the three and nine months ended September 30, 2026 and 2025 are as follows:
Table 87: Business Segment Results and Reconciliation to Consolidated Results
| Three months ended September 30 · Retail Banking · Corporate & Institutional Banking · Asset Management Group | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| In millions · 2026 · 2025 · 2026 · 2025 · 2026 · 2025 | |||||||||
| Net interest income (a) | $3,246 | $3,050 | $2,025 | $1,863 | $188 | $179 | |||
| Noninterest income | 842 | 790 | 1,167 | 1,132 | 271 | 254 | |||
| Total revenue (a) | 4,088 | 3,840 | 3,192 | 2,995 | 459 | 433 | |||
| Provision for credit losses | 115 | 126 | 76 | 44 | (4) | 4 | |||
| Noninterest expense | |||||||||
| Personnel | 561 | 529 | 455 | 403 | 122 | 115 | |||
| Segment allocations (b) | 1,069 | 979 | 436 | 387 | 135 | 120 | |||
| Depreciation and amortization | 138 | 97 | 47 | 46 | 11 | 9 | |||
| Other (c) | 336 | 336 | 168 | 140 | 28 | 29 | |||
| Total noninterest expense | 2,104 | 1,941 | 1,106 | 976 | 296 | 273 | |||
| Income before income taxes and noncontrolling interests (a) | 1,869 | 1,773 | 2,010 | 1,975 | 167 | 156 | |||
| Income taxes (a) | 435 | 413 | 453 | 425 | 39 | 36 | |||
| Net income (a) | 1,434 | 1,360 | 1,557 | 1,550 | 128 | 120 | |||
| Less: Net income attributable to noncontrolling interests | 9 | 9 | 5 | 5 | — | — | |||
| Net income excluding noncontrolling interests (a) | $1,425 | $1,351 | $1,552 | $1,545 | $128 | $120 | |||
| Average assets | $127,602 | $114,146 | $276,846 | $238,338 | $15,185 | $14,575 | |||
| Three months ended September 30 | Other activities | Consolidated | |||||||
| In millions | 2026 | 2025 | 2026 | 2025 | |||||
| Net interest income (a) | $(1,253) | $(1,444) | $4,206 | $3,648 | |||||
| Noninterest income | 76 | 91 | 2,356 | 2,267 | |||||
| Total revenue (a) | (1,177) | (1,353) | 6,562 | 5,915 | |||||
| Provision for credit losses | 2 | (7) | 189 | 167 | |||||
| Total noninterest expense | 245 | 271 | 3,751 | 3,461 | |||||
| Income before income taxes and noncontrolling interests (a) | (1,424) | (1,617) | 2,622 | 2,287 | |||||
| Income taxes (a) | (402) | (409) | 525 | 465 | |||||
| Net income (a) | (1,022) | (1,208) | 2,097 | 1,822 | |||||
| Less: Net income attributable to noncontrolling interests | 2 | — | 16 | 14 | |||||
| Net income excluding noncontrolling interests (a) | $(1,024) | $(1,208) | $2,081 | $1,808 | |||||
| Average Assets | $209,253 | $204,474 | $628,886 | $571,533 | |||||
98 The PNC Financial Services Group, Inc. –Form 10-Q
| (Continued from previous page) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Nine months ended September 30 · Retail Banking · Corporate & Institutional Banking · Asset Management Group | ||||||||||
| In millions · 2026 · 2025 · 2026 · 2025 · 2026 · 2025 | ||||||||||
| Net interest income (a) | $9,771 | $8,933 | $5,918 | $5,398 | $572 | $541 | ||||
| Noninterest income | 2,839 | 2,278 | 3,602 | 3,132 | 804 | 741 | ||||
| Total revenue (a) | 12,610 | 11,211 | 9,520 | 8,530 | 1,376 | 1,282 | ||||
| Provision for credit losses | 359 | 377 | 229 | 277 | (2) | (8) | ||||
| Noninterest expense | ||||||||||
| Personnel | 1,683 | 1,606 | 1,417 | 1,149 | 367 | 351 | ||||
| Segment allocations (b) | 3,247 | 2,924 | 1,278 | 1,151 | 390 | 355 | ||||
| Depreciation and amortization | 408 | 270 | 143 | 146 | 32 | 27 | ||||
| Other (c) | 992 | 933 | 475 | 436 | 88 | 87 | ||||
| Total noninterest expense | 6,330 | 5,733 | 3,313 | 2,882 | 877 | 820 | ||||
| Income before income taxes and noncontrolling interests (a) | 5,921 | 5,101 | 5,978 | 5,371 | 501 | 470 | ||||
| Income taxes (a) | 1,376 | 1,188 | 1,343 | 1,161 | 117 | 110 | ||||
| Net income (a) | 4,545 | 3,913 | 4,635 | 4,210 | 384 | 360 | ||||
| Less: Net income attributable to noncontrolling interests | 24 | 28 | 15 | 14 | — | — | ||||
| Net income excluding noncontrolling interests (a) | $4,521 | $3,885 | $4,620 | $4,196 | $384 | $360 | ||||
| Average Assets | $129,546 | $114,447 | $263,615 | $233,307 | $15,014 | $14,562 | ||||
| Nine months ended September 30 | Other activities | Consolidated | ||||||||
| In millions | 2026 | 2025 | 2026 | 2025 | ||||||
| Net interest income (a) | $(3,987) | $(4,193) | $12,274 | $10,679 | ||||||
| Noninterest income | 83(d) | 198 | 7,328 | 6,349 | ||||||
| Total revenue (a) | (3,904) | (3,995) | 19,602 | 17,028 | ||||||
| Provision for credit losses | 4 | (6) | 590 | 640 | ||||||
| Total noninterest expense | 1,097(e) | 796 | 11,617 | 10,231 | ||||||
| Income before income taxes and noncontrolling interests (a) | (5,005) | (4,785) | 7,395 | 6,157 | ||||||
| Income taxes (a) | (1,365) | (1,266) | 1,471 | 1,193 | ||||||
| Net income (a) | (3,640) | (3,519) | 5,924 | 4,964 | ||||||
| Less: Net income attributable to noncontrolling interests | 4 | 6 | 43 | 48 | ||||||
| Net income excluding noncontrolling interests (a) | $(3,644) | $(3,525) | $5,881 | $4,916 | ||||||
| Average Assets | $207,448 | $200,988 | $615,623 | $563,304 | ||||||
(a)During the second quarter of 2026, PNC updated its internal FTP methodology. The update resulted in impacts to net interest income and associated income statement line items for all business segments. Prior periods have been adjusted to conform with the current presentation.
(d)Includes a $139 million securities loss related to the repositioning of the available-for-sale investment securities portfolio in the second quarter of 2026.
(e)Includes a $140 million expense related to a PNC Foundation contribution in the second quarter of 2026.
The PNC Financial Services Group, Inc. –Form 10-Q 99
NOTE 16 FEE-BASED REVENUE FROM CONTRACTS WITH CUSTOMERS
As more fully described in Note 23 Fee-based Revenue from Contracts with Customers in our 2025 Form 10-K, a subset of our noninterest income relates to certain fee-based revenue within the scope of ASC Topic 606 -Revenue from Contracts with Customers (Topic 606).
Fee-based revenue within the scope of Topic 606 is recognized within ourthree reportable business segments: Retail Banking, Corporate & Institutional Banking and the Asset Management Group. Interest income, income from lease contracts, fair value gains from financial instruments (including derivatives), income from mortgage servicing rights and guarantee products, letter of credit fees, non-refundable fees associated with acquiring or originating a loan and gains from the sale of financial assets are outside of the scope of Topic 606.
Table 88 presents the noninterest income recognized within the scope of Topic 606 for each of ourthree reportable business segments’ principal products and services, along with the relationship to the noninterest income revenue streams reported on our Consolidated Income Statement. For a description of the fee-based revenue and how it is recognized for each segment’s principal products and services, see Note 23 Fee-based Revenue from Contracts with Customers in our 2025 Form 10-K.
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