PNC · The PNC Financial Services Group, Inc.

PNC delivered solid Q1 2026 results highlighted by strong organic growth and the successful integration of the FirstBank acquisition closed on January 5, 2026. Average loans expanded 7% linked quarter to $350.9 billion, driven by 6% legacy C&I growth, 14% CRE increase, and FirstBank contributions, with total loan yield at 5.60%. Deposits grew 4% to $458.4 billion while the rate paid declined 18 bps to 1.96%, supporting a 6% rise in net interest income to $3,961 million and NIM expansion to 2.95%. Noninterest income dipped 6% linked quarter due to seasonal factors but grew 12% year-over-year, led by capital markets and advisory fees up 51% YoY. Expenses rose 5% to $3,768 million but excluding $97 million integration costs, increased only 2% linked quarter, reflecting disciplined cost control. Credit quality remained strong with NPL ratio improving to 0.62%, delinquencies at 0.43%, and NCOs at 0.29% of average loans, excluding acquired NCOs at 0.24%. PNC maintained a robust capital position with Basel III CET1 at 10.1% and returned $1.4 billion to shareholders, including $0.7 billion in repurchases. Q2 guidance points to continued momentum with loans up 2-3%, NII up ~3%, and revenue up ~3.5%, while full-year outlook incorporates FirstBank impacts with NII growth of ~14.5% and expense growth of ~7% ex-integration.