Q1 2026 PNC Financial Services Group Inc Earnings Call Transcript

Apr 15, 2026 / 02:00PM GMT

Release Date Price: €188 (+0.53%)

Transcript 8-K

Key Points

Positve

PNC Financial Services Group Inc (PNC) reported strong financial performance with organic loan growth hitting a three-year high.
The company completed the acquisition of FirstBank, adding $15 billion in loans and $22 billion in deposits, contributing to overall balance sheet growth.
Net interest margin expanded meaningfully, and fee income grew by 13% year-over-year.
PNC returned $1.4 billion of capital to shareholders through dividends and share repurchases.
The company remains well-capitalized with a CET1 ratio of 10.1% and expects positive impacts from the Basel III proposal on its capital ratios.

Negative

Tangible book value per common share decreased by 3% linked quarter due to the FirstBank acquisition.
Noninterest income decreased by 6% linked quarter, with specific declines in mortgage revenue and capital markets advisory revenue.
Provision for credit losses was $210 million, reflecting the impact of loan growth.
Noninterest expense increased by 5% linked quarter, including $97 million in integration costs from the FirstBank acquisition.
The company faces challenges in deposit growth due to the competitive environment and higher interest rates.

Operator

Greetings, and welcome to the PNC Financial Services Group Q1 2026 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.

I will now turn the conference over to Bryan Gill, Executive VP and Director of Investor Relations. Thank you, Bryan. You may begin.

Bryan Gill

PNC Financial Services Group Inc - Executive Vice President, Director of Investor Relations

Good morning. Welcome to today's conference call for The PNC Financial Services Group. I am Bryan Gill, the Director of Investor Relations for PNC and participating on this call are PNC's Chairman and CEO, Bill Demchak; and Rob Reilly, Executive Vice President and CFO.

Today's presentation contains forward-looking information. Cautionary statements about this information as well as reconciliations of non-GAAP measures are included in today's earnings release materials as well as our SEC filings and other investor materials. These are all available on our corporate website, pnc.com, under Investor Relations. These statements speak only as of

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