PNC Financial Services 8-K

Summary

Q2 2026 results with forward outlook. PNC reported record revenue, net interest income and fee income, with net income of $2.1B and diluted EPS of $4.81 ($4.85 adjusted). Commercial loan growth and FirstBank’s contribution supported revenue; PNC also raised its quarterly dividend 18% and completed the FirstBank customer, employee and branch conversion on 6/22/2026.

Key Figures

• Net interest income growth reflected commercial loan growth, higher noninterest-bearing deposit balances, FirstBank and lower funding costs; net interest margin was 2.96%, up 16 bp Y/Y. Fee income rose 20% Y/Y, led by record capital markets and advisory revenue. Noninterest expense was $4.10B, up 21% Y/Y; excluding integration costs and significant items, it was $3.84B, up 13%.
• FirstBank integration costs and Q2 significant items reduced net income by $15M and EPS by $0.04 after tax. Items included a $448M gain on Visa shares, offset in part by a $140M PNC Foundation contribution, a $139M securities loss and negative $85M Visa derivative fair-value adjustments.
• Average loans were $363.2B, up 13% Y/Y, while average deposits were $457.0B, up 8%. Net loan charge-offs were $226M, or 0.25% annualized; the allowance for credit losses was 1.48% of loans. PNC returned $1.3B to shareholders, including $0.6B in repurchases; period-end common shares outstanding were 399M vs 394M Y/Y. The quarterly dividend rose to $2.00 per share from $1.70, payable 8/5/2026.

Guidance

Investor Takeaways

• Watch whether commercial loan growth and net interest margin gains continue into H2, while tracking charge-offs and credit quality.