PNC Financial Services Group, Inc.

Company facts

Industry

National Commercial Banks

Headquarters

Pittsburgh, Pennsylvania

Most recent report

8-K, filed Nov 5, 2026

Incorporated

Pennsylvania

Filings on record

1,000+ filings

On EDGAR

CIK 713676

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Sep 2026 10-Q

SECSift found 2 of 10 sections worth reading, with 2 positive, 19 notable, and 1 negative flags.

• Item 2

  Full MD&A with results, guidance, credit quality, capital, and FirstBank acquisition details.
  Positive

  • Net income $2.1B, up 2% QoQ; net interest income $4.2B, up 2% QoQ (Q3 2026).
  • Net income $5.9B for 9M 2026, up 19% YoY; total revenue $19.6B, up 15% (9M 2026 vs 9M 2025).
  Notable

  • FirstBank acquisition closed Jan 5, 2026 for $4.2B cash/stock; added ~780k customers, 1,620 employees, 95 branches.
  • Q3 2026 noninterest income fell 15% QoQ to $2.4B, driven by negative $25M Visa activity vs $363M in Q2.
  • Q3 2026 noninterest expense fell 8% QoQ to $3.8B, helped by lower integration costs ($27M vs $121M in Q2).
  • Total loans $378.8B, up 14% from Dec 2025; commercial loans up 19% to $277.0B, driven by new production and FirstBank.
  • Borrowed funds $79.8B, up 40% from Dec 2025, primarily due to higher FHLB advances ($36.5B vs $13.0B).
  • ACL to total loans fell to 1.42% at Sep 2026 from 1.58% at Dec 2025, despite loan growth and FirstBank addition.
  • Q3 2026 returned $1.4B to shareholders: $0.8B dividends, $0.6B buybacks. ~27% of 100M share authorization remains.
  • Q4 2026 guidance: avg loans +2.5%, NII +4.0%, fee income +3.5%, noninterest expense +5.0% vs Q3 2026.
  • Full-year 2026 guidance: avg loans +13.5%, NII +15.5%, total revenue +14.5%, noninterest expense +12.3% vs 2025.
  • Office loan portfolio $4.8B (1.3% of total loans); criticized loans 27.9%, nonperforming 10.8%, reserves 9.2%.
  • Net charge-offs $736M for 9M 2026, up 26% YoY, driven by commercial/industrial and $45M from FirstBank purchase accounting.
  • Uninsured deposits ~46% of total deposits at Sep 2026; majority are commercial operating/relationship accounts.
  • SCB will remain at 2.5% minimum through Dec 2027; new averaging rule effective Jan 2029 reduces volatility.
  • Visa exchange: $448M gain in Q2 2026, $11M gain in Q3; no remaining Class C shares at Sep 2026. Class B-3 shares valued ~$0.5B.
  Negative

  • CET1 ratio fell to 9.8% from 10.6% at Dec 2025, due to higher risk-weighted assets, buybacks, and dividends.

• Item 1

  FirstBank acquisition details, large securities losses, and legal exposure quantified.
  Notable

  • Education loan portfolio of $1.4B transferred to held-for-sale in Q3 2026, with $35M charge-offs.
  • Acquired FirstBank for $4.3B on Jan 5, 2026; added $15.2B net loans and $2.4B goodwill.
  • Integration costs of $261M for nine months 2026, mostly personnel and advisory fees.
  • Reasonably possible legal losses estimated at less than $300M as of Sep 30, 2026.
  • After Q3 close, redeemed $1.25B notes and issued $1.5B in new senior notes in Oct 2026.

What changed: Sep 2026 vs. Jun 2026

About 4% of PNC's Sep 2026 10-Q is new information. 36 paragraphs were added, 377 changed, and 89 removed. Below are the most important lines SECSift identified.

• Item 2 211
• Item 1 120
• Item 4 2
• Item 5 1
• Item 6 1