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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Details of Funding Sources
Funding Sources
Table 11: Details of Funding Sources
| September 30 · December 31 · Change | ||||
|---|---|---|---|---|
| Dollars in millions | 2026 | 2025 | $ | % |
| Deposits | ||||
| Noninterest-bearing | $99,720 | $91,748 | $7,972 | 9% |
| Interest-bearing | ||||
| Money market | 82,810 | 79,334 | 3,476 | 4% |
| Demand | 138,919 | 137,469 | 1,450 | 1% |
| Savings | 104,564 | 98,312 | 6,252 | 6% |
| Time deposits | 40,349 | 34,003 | 6,346 | 19% |
| Total interest-bearing deposits | 366,642 | 349,118 | 17,524 | 5% |
| Total deposits | 466,362 | 440,866 | 25,496 | 6% |
| Borrowed funds | ||||
| Federal Home Loan Bank advances | 36,512 | 13,000 | 23,512 | 181% |
| Senior debt | 36,310 | 38,642 | (2,332) | (6)% |
| Subordinated debt | 4,239 | 3,016 | 1,223 | 41% |
| Other | 2,696 | 2,443 | 253 | 10% |
| Total borrowed funds | 79,757 | 57,101 | 22,656 | 40% |
| Total funding sources | $546,119 | $497,967 | $48,152 | 10% |
Deposits are considered an attractive source of funding due to their stability and relatively low cost to fund. Compared to December 31, 2025, our funding source composition included higher deposit balances and higher borrowed funds outstanding. Funding costs decreased compared to the fourth quarter of 2025 as growth in funding sources was more than offset by the impact of lower rates.
Total deposits increased compared to December 31, 2025, driven by higher interest-bearing and noninterest-bearing deposits, and included the addition of FirstBank deposits. Interest-bearing deposits increased, reflecting higher commercial and consumer balances, as well as higher brokered time deposits. Noninterest-bearing deposits increased due to higher commercial and consumer balances. Our total brokered deposit balance was $8.6 billion at September 30, 2026, including $7.6 billion of brokered time deposits. At December 31, 2025, our total brokered deposit balance was $5.1 billion, and included $3.6 billion of brokered time deposits. In both instances, total brokered deposits were significantly below both our internal and regulatory guidelines and limits.
Borrowed funds increased primarily due to higher FHLB advances.
The level and composition of borrowed funds fluctuates over time based on many factors, including market conditions, capital considerations, and funding needs, which are primarily driven by changes in loan, deposit and investment securities balances. While our largest source of liquidity on a consolidated basis is the customer deposit base generated by our banking businesses, we also manage our borrowed funds to provide a reliable source of liquidity for our banking and other activities, considering our LCR and NSFR requirements and other internal and external guidelines and constraints. See Note 8 Borrowed Funds in this Report and Note 9 Borrowed Funds in our 2025 Form 10-K for additional information related to our borrowings.
Shareholders’ Equity
Total shareholders’ equity of $62.4 billion at September 30, 2026 increased $1.8 billion, or 3%, compared to December 31, 2025, primarily due to the benefit of net income of $5.9 billion and stock issuances related to the FirstBank acquisition of $3.0 billion, partially offset by a decline in AOCI of $3.1 billion, dividends paid of $2.4 billion and common share repurchases of $1.9 billion.
14 The PNC Financial Services Group, Inc. –Form 10-Q
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