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PNC Financial Services

PNC owns 22% of BlackRock, the largest asset management firm in the world by assets under management. This ownership interest had a market value of $17.9 billion as of December 31, 2017.

BlackRock

Citizens National Bank was founded on July 11, 1890 in Laurel, Maryland as Citizens National Bank of Laurel.The bank's founder and first president was Charles H. Stanley. On April 1, 1965, it was renamed to Citizens National Bank after merging with The Central Bank of Howard County. On September 15, 2007, Citizens National was acquired by PNC Bank, National Association.

Citizens National Bank

The PNC Financial Services Group, Inc. is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate and Institutional Banking, Asset Management Group, and Other. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers. The Corporate and Institutional segment covers the lending, treasury management, and capital markets-related products and services to mid-sized and large corporations, government, and not-for-profit entities. The Asset Management Group segment includes personal wealth management for high net worth and ultra-high net worth clients and institutional asset management. The company was founded in 1983 and is headquartered in Pittsburgh, PA.

Earnings data Q1 2021

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Earnings data Q1 2023

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PNC Financial Services posts solid Q4 results amid economic uncertainties

PNC Financial Services delivered strong financial results in Q4 2022, driven by solid loan growth and capital management initiatives.
While facing challenges related to potential economic downturn and expense management, the company remains well-positioned with a focus on customer relationships.
Opportunities for growth lie in expanding loan and revenue streams, optimizing asset management strategies, and enhancing operational efficiency.
Overall, PNC's performance reflects resilience amidst economic uncertainties, with a strategic focus on capital strength and customer-centric operations.

PNC Financial Services reports robust Q1 earnings amidst industry shifts

PNC Financial Services Group's Q1 performance reflects strength in earnings, balance sheet stability, and strategic execution.
While facing challenges such as softened loan demand and disruptions in certain business segments, PNC remains proactive in risk management.
Opportunities lie in leveraging market changes, growing market share, and maintaining regulatory compliance for sustained success.
Investors can find confidence in PNC's solid credit quality, capital management, and focus on long-term growth strategies.

PNC Financial Services reports solid Q2 earnings amidst M&A challenges

PNC Financial Services delivered a strong Q2 performance with a focus on expense control and credit quality. Challenges include declining net interest income and hurdles to M&A expansion. Opportunities exist in noninterest income growth and prudent expense management.

PNC Financial Services reports robust Q3 results amid economic uncertainties

PNC Financial Services Group's Q3 2023 performance showcased strong financial results, robust credit quality, and strategic expense management amidst economic uncertainties.
While facing challenges such as declining loan balances and net interest margin, the company remains focused on capital strengthening, customer-centric initiatives, and operational efficiency.
Opportunities in stable fee income, technological advancements, and market expansion present avenues for growth and profitability in the evolving financial landscape.

PNC Financial Services reports solid Q4 performance and eyes growth opportunities

PNC's Q4 performance was strong with a focus on expense control.
Challenges include credit charge-offs and declining revenue expectations.
Opportunities lie in commercial loan growth and fee income expansion.
Overall, PNC is well-positioned for growth despite regulatory uncertainties.

PNC Financial Services reports solid Q1 earnings amidst industry consolidation concerns

PNC's Q1 performance reflects financial stability and strategic investments, supported by strong liquidity and capital reserves. While challenges in commercial real estate and industry consolidation loom, opportunities in fee-based businesses and asset repositioning offer growth potential.

PNC Financial Services reports robust Q2 earnings and strategic growth

PNC Financial Services Group excelled in Q2 2024, balancing growth and capital management effectively.
While facing expected challenges in the credit environment, the company capitalized on opportunities for future growth.
Strengthened financial metrics and shareholder returns position PNC well for continued success.
Strategic initiatives like the new credit card and capital deployment enhance value for stakeholders.

PNC Financial Services reports robust Q3 earnings and eyes organic growth opportunities

PNC Financial Services Group's Q3 2024 performance reflects strength in earnings, operating leverage, and balance sheet metrics.
While facing challenges in loan growth and deposit pricing, the company remains optimistic about organic growth opportunities.
Strategic focus on credit quality, capital strength, and future growth investments positions PNC well for the medium term.
Management's cautious approach to loan growth and market conditions guide the company's strategic decisions for sustainable growth.

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RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Crete Mechanical Group (CMG), a leading provider of HVAC, electrical, plumbing, and building automation services to commercial, industrial, multi-family, government, healthcare, education, and other end markets, on its partnership with Ridgemont Equity Partners (Ridgemont). Alongside the founders and management team of CMG, Ridgemont has provided significant

Harris Williams Advises Crete Mechanical Group on its Partnership with Ridgemont Equity Partners

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Dermatologists of Central States (DOCS), a portfolio company of Sheridan Capital Partners (Sheridan), on its partnership with SkyKnight Capital (SkyKnight). DOCS is a leading dermatology group practice with clinics located across Ohio, Michigan, West Virginia, Illinois, Indiana, Pennsylvania, and North Carolina. The transaction was led by Paul Hepper, Geoff S

Harris Williams Advises Dermatologists of Central States on its Partnership with SkyKnight Capital

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Terra Millennium Corporation (Terra Millennium), a portfolio company of Court Square Capital Partners (Court Square), on its pending sale to H.I.G. Capital (H.I.G.). Terra Millennium is a leading national provider of outsourced industrial maintenance services, including refractory maintenance and other specialized services. Terra Millennium's executive te

Harris Williams Advises Terra Millennium Corporation on its Pending Sale to H.I.G. Capital

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Alex Overstrom to assume head of Retail Banking role PITTSBURGH , May 26, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Karen Larrimer, head of Retail Banking and chief customer officer, has elected to retire after more than 27 years of service and leadership to the bank. Larrimer will remain as the bank's chief customer officer through 2022, as she transitions out of her role as head of Retail Banking, effective July 1.

PNC'S HEAD OF RETAIL BANKING AND CHIEF CUSTOMER OFFICER KAREN LARRIMER TO RETIRE

PNC INNOVATION ZONE AT WHITAKER CENTER INCLUDES 40-FOOT DIGITAL CINEMA, ESPORTS SPACE AND STEAM EDUCATION HARRISBURG, Pa. , May 24, 2022 /PRNewswire/ -- Whitaker Center for Science and the Arts, together with PNC Bank, announced the grand opening of the new 7,000-square-foot PNC Innovation Zone at Whitaker Center.

WHITAKER CENTER OPENS NEW PNC INNOVATION ZONE FEATURING FIRST-OF-ITS KIND "PURPOSEFUL GAMING STUDIO"

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Fairway Lawns, a portfolio company of Prairie Capital (Prairie) and Rising Point Capital (RPC), on its sale to an investment fund managed by Morgan Stanley Capital Partners (MSCP). Fairway Lawns is a market leading provider of residential lawncare services, including weed control and fertilization, pest control, and tree and shrub maintenance. The transaction

Harris Williams Advises Fairway Lawns on its Sale to Morgan Stanley Capital Partners

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised BELLAMI Hair (BELLAMI), a premium brand driving innovation in the hair extensions and hair care categories, on its sale to Beauty Industry Group (BIG), a portfolio company of L Catterton. The transaction was led by Kelly McPhilliamy, William McBride and Marlee Crossen of the Harris Williams Consumer Group. “Since its founding, BELLAMI has emerged as one of th

Harris Williams Advises BELLAMI Hair on its Sale to Beauty Industry Group

PNC Financial Services Group, Inc. is one of the largest financial institutions in the U.S. that recently achieved exposure to the country's 30 largest markets. Synergies from the BBVA acquisition and declining post-acquisition expenses will contribute favorably to earnings in future periods.

PNC Financial Services: An Overlooked 20% Dividend Hike

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PITTSBURGH , May 11, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that it expects to issue quarterly earnings releases pre-market open and hold conference calls at 11 a.m. (ET) on the following dates: First Quarter 2023 – Friday, April 14, 2023 Second Quarter 2023 – Tuesday, July 18, 2023 Third Quarter 2023 – Friday, Oct. 13, 2023 Fourth Quarter 2023 – Tuesday, Jan. 16, 2024 A link to the live audio webcast, presentation slides, earnings release and supplementary financial information will be made available at www.pnc.com/investorevents, and dial-in information will be provided at a later date.

THE PNC FINANCIAL SERVICES GROUP PROVIDES QUARTERLY 2023 EARNINGS RELEASE DATES

PITTSBURGH , May 10, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) appointed Renu Khator, Ph.D., chancellor of the University of Houston System and president of University of Houston, to its board of directors, effective today.

PNC APPOINTS RENU KHATOR TO BOARD OF DIRECTORS

FRANKFURT, Germany--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising STAXS Contamination Control Experts (STAXS®), a portfolio company of Silverfleet Capital, on its pending sale to Franz Haniel & Cie. GmbH (Haniel). STAXS® is the leading value-add distributor of cleanroom consumables to the life science industry in the Benelux. With this acquisition, Haniel's portfolio company CWS Cleanrooms further strengthens i

Harris Williams Advises STAXS® on its Pending Sale to Franz Haniel & Cie. GmbH

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Imperial Dade, a portfolio company of Bain Capital Private Equity, on its pending investment from Advent International (Advent) and funds managed by Bain Capital. Imperial Dade is the leading distributor of foodservice packaging, facilities maintenance supplies and equipment in North America. The transaction is being led by Bob Baltimore, Graham Gillam, R

Harris Williams Advises Imperial Dade on its Pending Investment from Advent International

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Excel Fitness Holdings (Excel Fitness), a portfolio company of Altamont Capital Partners (Altamont), on its sale to Olympus Partners (Olympus). Excel Fitness is one of the country's largest Planet Fitness franchisees. The transaction was led by Ryan Budlong, Zach England and Grant Shin of the Harris Williams Consumer Group. “The Excel Fitness team, in partner

Harris Williams Advises Excel Fitness Holdings on its Sale to Olympus Partners

PITTSBURGH , April 29, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced the redemption on May 31, 2022 of all of the outstanding Senior Notes due June 29, 2022 issued by PNC Bank, National Association (as successor-in-interest to BBVA USA, formerly known as Compass Bank) in the amount of $750,000,000 (CUSIP 20453KAB1). The securities have a distribution rate of 2.875% and an original scheduled maturity date of June 29, 2022.

PNC ANNOUNCES REDEMPTION OF SENIOR BANK NOTES DUE JUNE 29, 2022

Financial services institution PNC Financial (NYSE: PNC) stock has retracing back down to oversold levels.

Does PNC Financial Stock Belong in Your Portfolio?

The sixth-largest bank in the U.S. just boosted its dividend by 20% to $1.50 per share.

Does PNC Have the Best Dividend Among Its Banking Peers?

The PNC Financial Services Group, Inc. (NYSE:PNC ) Q1 2022 Results Conference Call April 14, 2022 11:00 AM ET Company Participants Bryan Gill - SVP, Director-IR Bill Demchak - President, CEO Rob Reilly - EVP, CFO Conference Call Participants Bill Carcache - Wolfe Research Gerard Cassidy - RBC John Pancari - Evercore ISI Mike Mayo - Wells Fargo Securities Scott Siefers - Piper Sandler Bryan Gill Welcome to today's conference of The PNC Financial Services Group. Participating on this call are PNC's Chairman, President and CEO, Bill Demchak; and Rob Reilly, Executive Vice President and CFO.

The PNC Financial Services Group, Inc. (PNC) CEO Bill Demchak on Q1 2022 Results - Earnings Call Transcript

Higher net interest income and loan growth support PNC Financial's (PNC) Q1 results against headwinds like higher expenses and a weak capital position.

PNC Financial (PNC) Q1 Earnings Beat, Revenues Miss Estimates

The PNC Financial Services Group, Inc (PNC) delivered earnings and revenue surprises of 18.35% and 1%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

The PNC Financial Services Group, Inc (PNC) Beats Q1 Earnings Estimates

Grew loans; controlled expenses; maintained strong credit quality Raised quarterly common stock dividend 20% to $1.50 per share on April 1, 2022 PITTSBURGH , April 14, 2022 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 1Q22 4Q21 1Q21 First Quarter Highlights ▪  Diluted EPS as adjusted was $3.29, excluding $31 million of pre-tax integration costs related to BBVA USA   ▪  Revenue decreased 8% linked quarter, primarily driven by lower noninterest income reflecting lower capital markets related revenue and lower business activity   ▪  Expenses decreased 16% linked quarter, and 7% excluding integration expenses, reflecting lower personnel costs   ▪  Provision recapture of $208 million   ▪  Average loans increased 1% linked quarter driven by commercial loan growth, partially offset by $2.2 billion of PPP loan forgiveness   ▪  Average deposits increased modestly   ▪  Book value and tangible book value decreased 12% and 15%, respectively, linked quarter due to a decrease in accumulated other comprehensive income   ▪  Net loan charge-offs were $137 million or 0.19% of annualized average loans Financial Results Revenue $    4,692 $    5,127 $    4,220 Noninterest expense 3,172 3,791 2,574 Pretax, pre-provision earnings (non-GAAP) 1,520 1,336 1,646 Integration costs 31 438 6 Pretax, pre-provision earnings excluding integration costs (non-GAAP) 1,551 1,774 1,652 Provision for (recapture of) credit losses (208) (327) (551) Net income 1,429 1,306 1,826 Per Common Share Diluted earnings - as reported $      3.23 $      2.86 $      4.10 Impact from integration costs (non-GAAP) 0.06 0.82 0.01 Diluted earnings - as adjusted (non-GAAP) 3.29 3.68 4.11 Average diluted common shares outstanding 420 424 426 Book value 106.47 120.61 118.47 Tangible book value (non-GAAP) 79.68 94.11 96.57 Balance Sheet & Credit Quality Average loans (in billions) $    290.7 $    288.9 $    238.1 Average deposits (in billions) 453.3 452.8 365.4 Net loan charge-offs 137 124 146 Allowance for credit losses to total loans 1.76% 1.92% 2.20% Selected Ratios Return on average common shareholders' equity 11.64% 9.61% 14.31% Return on average assets 1.05 0.93 1.58 Net interest margin (non-GAAP) 2.28 2.27 2.27 Noninterest income to total revenue 40 44 44 Efficiency 68 74 61 Efficiency excluding integration costs (non-GAAP) 67 66 61 Common Equity Tier 1 capital ratio 9.9 10.3 12.6 Diluted earnings as adjusted is a non-GAAP measure calculated by excluding post-tax integration costs for BBVA USA. See this and other non-GAAP financial measures in the consolidated financial highlights accompanying this release.

PNC REPORTS FIRST QUARTER 2022 NET INCOME OF $1.4 BILLION, $3.23 DILUTED EPS OR $3.29 AS ADJUSTED

Despite growth in asset management revenues, lower NII and fee income are expected to have acted as spoilsports for PNC Financial's (PNC) Q1 earnings.

Key Factors to Impact PNC Financial's (PNC) Q1 Earnings

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Southwire Company, LLC (Southwire), one of North America's largest wire and cable producers and an emerging influence in the industrial electrical space, on its acquisition of Novinium, Inc. (Novinium), a cable rejuvenation solutions provider focused on electric utilities. The transaction was led by Drew Spitzer, Matt White and Thomas Saunders of the Harris W

Harris Williams Advises Southwire Company, LLC on its Acquisition of Novinium, Inc.

LONDON--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it is advising Forest Holidays, a leading owner and operator of environmentally sensitive cabins in the U.K., on its pending sale to Sykes Holiday Cottages (Sykes), a portfolio company of Vitruvian Partners (Vitruvian). Forest Holidays is owned by an institutional investor group, which is led by Phoenix Equity Partners (Phoenix) and includes LDC. The transaction is being led b

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