PNC is one of the largest diversified financial services companies in the U.S., headquartered in Pittsburgh, Pennsylvania, with a coast-to-coast retail branch network and strategic international offices in four countries outside the U.S. The company operates through three main business segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group . PNC offers a wide range of financial products and services, including deposit accounts, lending products, investment management, and advisory services . Revenue is generated from net interest income and noninterest income, with significant contributions from the Corporate & Institutional Banking segment .
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Corporate & Institutional Banking - Offers lending, treasury management, capital markets and advisory services, and commercial mortgage banking activities to mid-sized and large corporations, government, and not-for-profit entities. Provides products like secured and unsecured loans, letters of credit, and equipment leases .
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Retail Banking - Provides a wide range of products and services, including deposit accounts, lending products such as residential mortgages and credit cards, brokerage, insurance services, investment management, and cash management products. These services are offered through branches, digital channels, ATMs, and phone-based customer contact centers .
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Asset Management Group - Focuses on private banking for high net worth individuals and institutional asset management. Provides investment and retirement planning, customized investment management, credit and cash management solutions, and fiduciary services .
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
William S. Demchak ExecutiveBoard | Chairman, President, and CEO | Member of The Business Council; Member of Federal Advisory Committee for the Federal Reserve | Joined PNC in 2002; became CEO in 2013 and Chairman in 2014; led PNC to record revenue and net income in 2022. | View Report → |
Alexander E. C. Overstrom Executive | Head of Retail Banking | None | Joined PNC in 2014; led small business and merchant services; announced $500M investment in branch expansion. | View Report → |
Carole L. Brown Executive | Head of Asset Management Group | None | Joined PNC in 2019; previously CFO for the City of Chicago; became Head of Asset Management in 2020. | View Report → |
Deborah Guild Executive | Head of Enterprise Technology & Security | Chair of Financial Services Sector Coordinating Council (FSSCC) | Joined PNC in 2013; oversees cybersecurity and AI initiatives; previously served as Chief Information Security Officer. | View Report → |
E. William Parsley III Executive | Chief Operating Officer (COO) | None | Joined PNC in 2003; became COO in 2018; previously served as Treasurer and Chief Investment Officer. | View Report → |
Gregory B. Jordan Executive | General Counsel and Chief Administrative Officer | None | Joined PNC in 2013; oversees legal, regulatory, and government affairs; expanded PNC's Regional President model. | View Report → |
Gregory H. Kozich Executive | Senior Vice President and Controller | None | Joined PNC in 2010; became Controller in 2011; previously worked at Federal National Mortgage Association. | View Report → |
Kieran J. Fallon Executive | Chief Risk Officer | None | Joined PNC in 2011; became Chief Risk Officer in 2021; previously Senior Deputy General Counsel. | View Report → |
Richard K. Bynum Executive | Chief Corporate Responsibility Officer | None | Joined PNC in 2005; became Chief Corporate Responsibility Officer in 2020; previously Regional President for Greater Washington. | View Report → |
Robert Q. Reilly Executive | Chief Financial Officer (CFO) | None | Joined PNC in 1987; became CFO in 2013; previously led PNC's Asset Management Group. | View Report → |
Stacy M. Juchno Executive | General Auditor | None | Joined PNC in 2009; became General Auditor in 2014; previously Finance Governance and Oversight Director. | View Report → |
Vicki C. Henn Executive | Chief Human Resources Officer | None | Joined PNC in 1994; became Chief Human Resources Officer in 2014; previously led HR for Retail Banking. | View Report → |
Andrew T. Feldstein Board | Presiding Director | Trustee of Third Way; Member of Harvard Law School Leadership Council | Director since 2013; co-founder and former CEO of BlueMountain Capital Management; expertise in risk management and finance. | |
Bryan S. Salesky Board | Director | CEO of Stack AV Co.; Chair of Greater Pittsburgh Chamber of Commerce | Director since 2021; robotics and software engineering expert; co-led Carnegie Mellon\u2019s DARPA Urban Challenge team. | |
Daniel R. Hesse Board | Director | Board Member at Akamai Technologies, Inc. | Director since 2016; former CEO of Sprint Corporation; recognized for leadership in corporate responsibility. | |
Debra A. Cafaro Board | Director | Chairman and CEO of Ventas, Inc.; Board Member at University of Chicago and Chicago Symphony Orchestra | Director since 2017; leads Ventas, an S&P 500 company; recognized for corporate leadership and strategic vision. | |
Douglas Dachille Board | Director | Board Member at Equitable Holdings, Inc.; BridgeBio Pharma, Inc. | Director since 2025; former CIO of AIG; extensive experience in investment management and risk oversight. | |
Joseph Alvarado Board | Director | Board Member at Arcosa, Inc.; Kennametal, Inc. | Director since 2019; former Chairman, President, and CEO of Commercial Metals Company; extensive experience in metals and manufacturing. | |
Linda R. Medler Board | Director | Founder of L A Medler & Associates; Board Member at Target Hospitality Corp. | Director since 2018; retired Brigadier General in the U.S. Air Force; expertise in cybersecurity and technology. | |
Marjorie Rodgers Cheshire Board | Director | Principal of A&R Development Corp.; Board Member at Exelon Corporation | Director since 2014; extensive experience in real estate and community development; active in Baltimore community. | |
Martin Pfinsgraff Board | Director | None | Director since 2018; extensive knowledge of banking regulation, risk management, and finance. | |
Renu Khator Board | Director | Chancellor and President of University of Houston; Board Member at Camden Property Trust | Director since 2022; academic leader overseeing a four-university system; expertise in economic development. | |
Richard J. Harshman Board | Director | Lead Independent Director at Ameren Corporation; Trustee of Pittsburgh Cultural Trust | Director since 2019; retired Chairman, President, and CEO of Allegheny Technologies Incorporated; expertise in finance and risk management. | |
Robert A. Niblock Board | Director | Board Member at ConocoPhillips; Lamb Weston Holdings, Inc. | Director since 2022; former Chairman, President, and CEO of Lowe's Companies; expertise in retail and financial management. |
- Given the continued stress in your CRE office portfolio, with nonperforming loans increasing due to the migration of criticized loans and expectations of additional charge-offs, how confident are you that your current reserves of 11.3% on the overall office portfolio and 16% on the multi-tenant portfolio are sufficient to cover future losses, and what strategies are you implementing to mitigate these risks?
- With noninterest expenses expected to rise by 2% to 3% in the fourth quarter and fee income projected to decline by 5% to 7%, what specific measures are you taking to manage expenses and drive revenue growth to achieve positive operating leverage for the full year?
- You've mentioned plans to invest in your retail distribution by building high-volume branches, particularly in the Southwest markets. In an era where digital banking is becoming more prevalent, how do you justify this strategy, and what returns on investment do you anticipate from these branch expansions?
- Historically, you've been underpenetrated in consumer lending, especially in credit cards. Despite recent investments and new product introductions, when do you expect to see significant growth and a measurable impact on your consumer lending revenues?
- Considering your expectation that the Fed will cut rates twice in 2024 and your projections of achieving record net interest income in 2025 without relying on loan growth, what gives you confidence in these projections amid economic uncertainties, and what key factors are driving this confidence?
Research analysts who have asked questions during PNC FINANCIAL SERVICES GROUP earnings calls.
Betsy Graseck
Morgan Stanley
6 questions for PNC
Ebrahim Poonawala
Bank of America Securities
6 questions for PNC
Gerard Cassidy
RBC Capital Markets
6 questions for PNC
John Pancari
Evercore ISI
6 questions for PNC
Bill Carcache
Wolfe Research, LLC
4 questions for PNC
Erika Najarian
UBS
4 questions for PNC
Matthew O'Connor
Deutsche Bank
4 questions for PNC
Scott Siefers
Piper Sandler
4 questions for PNC
Ken Usdin
Autonomous Research
3 questions for PNC
Michael Mayo
Wells Fargo
3 questions for PNC
Mike Mayo
Wells Fargo
3 questions for PNC
John McDonald
Truist Securities
2 questions for PNC
Chris McGratty
KBW
1 question for PNC
Chris McGraty
KBW
1 question for PNC
Christopher McGratty
Keefe, Bruyette & Woods
1 question for PNC
David George
Baird
1 question for PNC
Kenneth Usdin
Jefferies
1 question for PNC
L. Erika Penala
UBS
1 question for PNC
Matt O'Connor
Deutsche Bank
1 question for PNC
R. Scott Siefers
Piper Sandler Companies
1 question for PNC
Saul Martinez
HSBC
1 question for PNC
Scott Seifers
Piper Sandler
1 question for PNC
Steven Alexopoulos
JPMorgan Chase & Co.
1 question for PNC
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Signature Bridge Bank, N.A. | 2023 | PNC acquired a portfolio of capital commitment facilities totaling approximately $16 billion (with around $9 billion in funded loans) to support fund subscription lines for private equity sponsors; the deal was executed without any FDIC funding, guarantees, or loss-sharing agreements and did not materially impact PNC’s financial ratios. |
Recent press releases and 8-K filings for PNC.
- Corporate & Institutional Banking revenue rose 10% YoY to a record, noninterest income was up 11% LQ, with loan commitments up 5% YoY (including 14% growth in expansion markets) and deposits up 6% YoY (double-digit in expansion markets)
- Retail Banking revenue increased 9% YoY, consumer checking accounts grew 2% YoY (including 6% in the Southwest), and the segment delivered record brokerage assets, debit transactions and credit-card spend
- Asset Management Group revenue climbed 9% YoY to a record, asset management fees were up 5% YoY, AUM hit record levels driven by new clients and market yield, with expansion-market AUM up 25% YoY, three times faster than legacy markets
- PNC delivered net income of $1.8 billion ($4.35 per share), with record revenue of $5.9 billion and record PPNR of $2.5 billion.
- Net interest income rose to $3.6 billion (+3% QoQ) and NIM was 2.79%; the bank still expects NIM to exceed 3% in 2026.
- Balance sheet growth: average loans were $326 billion (+1% QoQ) and average deposits $432 billion (+2% QoQ); commercial loans up 2% while CRE declined 3%.
- Credit metrics remain strong with a net charge-off ratio of 22 bps, allowance for credit losses at 1.61% of loans, and Q4 net charge-offs guided to $200–225 million.
- Capital and run‐rate initiatives: CET1 ratio of 10.6%, returned $1 billion in capital (including $331 million in buybacks), plans for $300–400 million of Q4 repurchases, and announced acquisition of FirstBank to expand in Colorado and Arizona.
- Net income of $1.822 billion and diluted EPS of $4.35 in Q3 2025.
- Total revenue of $5.915 billion, up 4% sequentially and 9% year-over-year, driven by net interest income of $3.648 billion and noninterest income of $2.267 billion.
- Average loans increased to $325.9 billion (+1% LQ) and average deposits to $431.8 billion (+2% LQ).
- Announced an agreement to acquire FirstBank, positioning PNC for accelerated growth in key strategic markets.
- Q4 2025 guidance: net interest income expected to rise ~1.5%, total revenue stable to down 1%, and noninterest expense up 1–2%.
- PNC reported record total revenue of $5.9 billion (+4% q/q) and net income of $1.8 billion ($4.35 EPS) in Q3 2025.
- Net interest income grew to $3.6 billion (+3% q/q; NIM 2.79%), while non-interest income rose 8% to $2.3 billion, driving record pre-provision profit of $2.5 billion and over 200 bp of operating leverage.
- Credit quality remained strong with a net charge-off ratio of 22 bps, non-performing loans stable at $2.1 billion, and an allowance for credit losses of $5.3 billion (1.61% of loans).
- Q4 guidance calls for net interest income up ~1.5%, total revenue flat-to-down 1%, fee income down ~3%, non-interest expense up 1–2%, and net charge-offs of $200–225 million; NIM is expected to exceed 3% in 2026.
- Announced acquisition of FirstBank to become Denver’s #1 deposit franchise, triple Colorado branches, and expect deposit rates to decline following Fed cuts.
- PNC reported Q3 net income of $1.8 billion and diluted EPS of $4.35, driven by record revenue of $5.9 billion.
- Net interest margin declined to 2.79% while fee income rose 9%, contributing to an efficiency ratio of 59%.
- Provision for credit losses was $167 million, reflecting ongoing credit risk management.
- Issued softer Q4 guidance, anticipating slight fee income decline and stable to marginally lower total revenue, leading to a ~3.1% premarket stock drop.
- Progressing with the FirstBank acquisition to expand its presence in Colorado and Arizona.
- Reported net income of $1.8 billion and diluted EPS of $4.35 in Q3 2025.
- Generated total revenue of $5.9 billion, up 4% sequentially, with noninterest income rising 8% year-over-year.
- Announced a definitive agreement to acquire FirstBank Holding Company for $4.1 billion, expected to close in early 2026.
- Maintained strong credit and capital: net loan charge-offs were $179 million, CET1 ratio improved to 10.6%, and returned $1.0 billion to shareholders.
- PNC reported net income of $1.822 billion and diluted EPS of $4.35 in third quarter 2025.
- Third-quarter revenue rose 4% to $5.915 billion, driven by a 3% increase in net interest income and 9% growth in fee income.
- Average loans grew 1% to $325.9 billion and average deposits rose 2% to $431.8 billion, while the CET1 ratio improved to 10.6%.
- The bank returned $1 billion of capital to shareholders through dividends and share repurchases in the quarter.
- Announced agreement to acquire FirstBank for $4.1 billion, expected to close in early 2026.
- PNC Bank, N.A. announced a decrease in its prime lending rate.
- The new prime rate of 7.25% will become effective on September 18, 2025.
- PNC Bank, N.A. is a subsidiary of The PNC Financial Services Group, a leading diversified US financial services institution.
- Net interest margin increased to 3.53%, up 20 basis points year-over-year, driven by strong loan growth and deposit management.
- Loan growth was 22% YoY (core growth ~4% annualized QoQ), bolstered by a Minnesota acquisition and strength in agriculture lending.
- Annual client survey shows clients are twice as optimistic now compared to a year ago, signaling positive sentiment for H2 2025.
- PNC is exploring cryptocurrency custody and stablecoin services to support growing client demand for digital assets.
- PNC Bank will offer cryptocurrency trading to its institutional and retail clients via Coinbase’s Crypto-as-a-Service platform, allowing customers to buy, hold, and sell digital assets directly through the bank’s interface.
- The partnership leverages PNC’s $410 billion asset base alongside Coinbase’s established trading infrastructure and security protocols.
- In development since 2021, the collaboration enables PNC to provide crypto services without direct custody of assets or registering as a crypto broker, thereby simplifying regulatory requirements.
- PNC will also supply traditional banking services to Coinbase, strengthening operational ties and supporting a more resilient digital financial ecosystem.