PNC Bank Expands Branch Buildout to More Than 370, Will Build 60 Branches Per Year

(NYSE:PNC) PNC Bank announced an expansion of its branch network, targeting more than 370 new locations by 2031, which includes over 70 branches already opened since the original expansion strategy was announced. The expansion will add more than 50 new branches in South Carolina and Georgia, reinforcing PNC's commitment to these two fast-growing states. The company also plans to build an additional 10 locations across Texas, Florida, and North Carolina due to the success in previously announced expansion markets. This initiative is part of an approximately $2.5 billion investment in PNC's network. PNC plans to open 60 branches per year from 2027 onward and will also renovate existing locations across all markets. As part of the expansion, PNC expects to hire 2,400 employees to support in-person client needs. In the Southeast, PNC is opening approximately 200 locations throughout Florida and North Carolina, with targeted buildouts in Atlanta and Nashville. Specific market targets in South Carolina include Greenville (12 branches), Charleston (9 branches), Columbia (9 branches), Myrtle Beach (5 branches), Spartanburg (4 branches), and Hilton Head (3 branches). In Georgia, Savannah will receive 6 branches and Augusta 5 branches. The new PNC mobile app, recently rolled out nationwide, saw 9% year-over-year growth in active digital users in the third quarter. The expansion is part of PNC's broader national strategy, which has recently included growth in Austin, Chicago, Dallas, Denver, Houston, Phoenix, and San Antonio. Jeff Martinez, head of Branch Distribution and Sales Management, stated that strong demand and positive feedback have reinforced confidence in the expansion strategy. Jim Hansen, Southeast territory executive, emphasized the impact of the expansion on serving local clients and contributing to regional growth. PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc.

PNC Bank and ADP Announce Embedded Payroll Solution for Small Businesses

(NYSE:PNC) PNC Bank and (NASDAQ:ADP) ADP have announced a strategic partnership to integrate ADP's payroll and HR capabilities directly into PNC's digital banking platform through a new offering called PNC Payroll by ADP®. The solution brings together payroll, HR, benefits, time, insurance, and retirement solutions within PNC's digital banking experience, allowing businesses to manage payroll alongside PNC's cash management and payment capabilities in a single digital environment. PNC Payroll by ADP is specifically designed to support small businesses at every stage of growth, from startups and one-person operations to more established companies looking to scale. The offering provides digital self-service capabilities and 24/7 support from ADP payroll experts. ADP brings more than 77 years of experience in payroll and compliance, and currently serves more than 900,000 small businesses. The company also supports more than 1.1 million clients across 140+ countries. The partnership aims to reduce operational complexity for small businesses, making it easier to manage cash flow, payments, compliance, and payroll. Matt Farwell, president of Small Business Services at ADP, stated that the collaboration brings together two of the systems small businesses rely on most: banking and payroll. Dave Shorten, head of SMB Treasury Management at PNC Bank, emphasized that the collaboration combines ADP's small business expertise and scalable solutions with PNC's relationship-driven approach to banking. The agreement represents the latest expansion of ADP's embedded payroll offerings, extending payroll and HR capabilities into the digital experiences small businesses use every day. PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE:PNC), one of the largest diversified financial services institutions in the United States. ADP (NASDAQ:ADP) is a global leader in HR and payroll solutions, serving clients in over 140 countries.

PNC Reports Third Quarter 2026 Net Income of $2.1 Billion, $4.97 Diluted EPS or $5.09 as Adjusted

(NYSE:PNC) The PNC Financial Services Group, Inc. reported third quarter 2026 financial results, highlighting growth in average loans and deposits, increased net interest income (NII), and reduced expenses. Net interest income was $4,206 million for 3Q26, up from $4,107 million in 2Q26 and $3,648 million in 3Q25. Adjusted diluted earnings per share (EPS) were $5.09, an increase of $0.24 from the prior quarter. Pretax, pre-provision earnings (PPNR) increased 1% quarter-over-quarter. Return on average tangible common equity (ROTCE) was 18.3%. The net interest margin (NIM) was 2.94%. Fee income decreased 6% to $2,142 million, primarily due to elevated capital markets activity in the prior quarter. Other noninterest income was $214 million, a decrease of $275 million, driven by significant items in 2Q26. Noninterest expense declined 8% to $3,751 million, or 3% as adjusted, with an efficiency ratio improvement to 57%. Average loans increased by $9.0 billion to $372.2 billion, reflecting new production and higher utilization. A $1.4 billion student loan portfolio was transferred to held-for-sale. Average deposits increased 1% to $461.2 billion, with spot deposits up 4%. Average investment securities rose 3% to $151.4 billion. Net loan charge-offs were $257 million, including $35 million related to the student loan portfolio transfer. Accumulated other comprehensive income (AOCI) was negative $6.5 billion in 3Q26, compared to negative $4.1 billion in 2Q26. The common equity tier 1 (CET1) capital ratio was 9.8%. PNC returned $1.4 billion of capital to shareholders, including $0.8 billion in common dividends and $0.6 billion in share repurchases. Integration costs related to the FirstBank acquisition were $36 million in 3Q26. Significant items included a negative $25 million related to net Visa activity, with an $11 million valuation gain on remaining Visa shares and negative $36 million of Visa Class B-3 derivative fair value adjustments. The combined after-tax impact of integration costs and significant items resulted in a $48 million decline in net income, or a $0.12 reduction to EPS. Total revenue for 3Q26 was $6.6 billion, down $313 million or 5% from 2Q26, but up $647 million or 11% from 3Q25. The allowance for credit losses was $5.4 billion, or 1.42% of total loans at September 30, 2026. Delinquencies were $1.3 billion, down $135 million, while nonperforming loans were $2.2 billion, up $167 million. The board declared a quarterly cash dividend of $2.00 per share, payable November 5, 2026. PNC's average liquidity coverage ratio (LCR) for the quarter was 106%. The effective tax rate was 20.0%. Personnel expense was $2,031 million, occupancy $262 million, equipment $435 million, marketing $106 million, and other expense $917 million. Integration costs and significant items in noninterest expense totaled $27 million in 3Q26. Compared to 2Q26, average commercial loans increased $10.4 billion, while average consumer loans decreased $1.4 billion. Loans at September 30, 2026 were $378.8 billion, up $10.8 billion from June 30, 2026. Deposits at September 30, 2026 were $466.4 billion, up $16.6 billion from June 30, 2026. The company maintained a strong capital and liquidity position throughout the quarter.

PNC Bank Named Most Trusted Bank in Investor's Business Daily 2026 Trust Survey

(NYSE:PNC) PNC Bank has been named the Most Trusted Bank in Investor's Business Daily's (IBD) 2026 trust survey. The recognition is part of IBD's annual Most Trusted Financial Companies research, which evaluates consumer perceptions of financial institutions across key trust-related attributes. According to IBD, PNC ranked first among banks, with customers citing the company's client service, commitment to protecting their information, and delivering a secure banking experience. The ranking reflects PNC's relationship-based, human-centric strategy, which combines strong security and financial expertise with a commitment to hospitality and personalized experiences. Alex Overstrom, PNC head of Retail Banking, stated that trust is earned by treating clients as people and honoring their confidence through strong service, security, and a client-obsessed approach. Overstrom emphasized that hospitality is integral to making clients feel valued, understood, and cared for in every interaction. The IBD survey found that organizations demonstrating strong performance in security and privacy earn greater customer confidence and loyalty. PNC Bank's top ranking highlights the importance clients place on safeguarding their personal and financial information. The trust is built not only through protecting clients' information but also by delivering experiences that make banking more personal and rewarding. The 2026 IBD rankings identified the financial institutions consumers trust most across several categories, including banking, investing, insurance, and credit cards. Overstrom described being named the most trusted bank as a powerful validation of PNC's client-first approach. He noted that trust is built when clients see PNC consistently doing what is right for them, such as helping them avoid fees, earn more rewards, benefit from programs like TotalRewards, or guiding them through important financial decisions. PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE:PNC). PNC is one of the largest diversified financial services institutions in the United States, offering retail and business banking, lending products, corporate banking, real estate finance, asset-based lending, wealth management, and asset management.

PNC Declares Dividend of $2.00 on Common Stock

(NYSE:PNC) The PNC Financial Services Group, Inc. announced that its board of directors has declared a quarterly cash dividend of $2.00 per share on its common stock. The dividend will be payable on November 5, 2026, to shareholders of record as of the close of business on October 14, 2026. The board also declared cash dividends on several series of preferred stocks, each with specified dividend amounts and payment schedules. For Preferred Series B, the dividend amount is $0.45 per preferred share, payable December 10, 2026, to shareholders of record on November 13, 2026. For Preferred Series S, the dividend is $2,500.00 per preferred share and $25.00 per depositary share, payable November 1, 2026, to shareholders of record on October 14, 2026. For Preferred Series T, the dividend is $1,787.75 per preferred share and $17.8775 per depositary share, payable December 15, 2026, to shareholders of record on November 27, 2026. For Preferred Series U, the dividend is $1,500.00 per preferred share and $15.00 per depositary share, payable November 15, 2026, to shareholders of record on October 30, 2026. For Preferred Series V, the dividend is $1,550.00 per preferred share and $15.50 per depositary share, payable December 15, 2026, to shareholders of record on November 27, 2026. For Preferred Series W, the dividend is $1,562.50 per preferred share and $15.6250 per depositary share, payable December 15, 2026, to shareholders of record on November 27, 2026. For Preferred Series X, the dividend is $18.13 per preferred share, payable October 29, 2026, to shareholders of record on October 15, 2026. If a payment date falls on a non-business day, the dividend will be paid on the next business day following the payment date.

PNC Reports Second Quarter 2026 Net Income of $2.1 Billion, $4.81 Diluted EPS or $4.85 as Adjusted

(NYSE:PNC) The PNC Financial Services Group, Inc. reported record revenue, net interest income, and fee income for the second quarter of 2026. Total revenue was $6,875 million, up $710 million or 12% from the first quarter of 2026, and up $1.2 billion or 21% from the second quarter of 2025. Net interest income was $4,107 million, an increase of $146 million or 4% from the prior quarter, and fee income was $2,279 million, up $200 million or 10%. Net income for the quarter was $2,055 million, with diluted earnings per share of $4.81 and adjusted EPS of $4.85. The company increased its quarterly common stock dividend by 30 cents, or 18%, to $2.00 per share, and returned $1.3 billion to shareholders, including $0.6 billion of share repurchases. As of June 22, 2026, PNC completed the conversion of approximately 780,000 FirstBank customers, more than 1,620 employees, and 95 branches. The company projects that share repurchase activity in the third quarter of 2026 is expected to approximate second quarter of 2026 share repurchase levels.

PNC Raises Common Stock Dividend to $2.00 Per Share

(NYSE:PNC) The board of directors of The PNC Financial Services Group, Inc. declared a quarterly cash dividend on the common stock of $2.00 per share, an increase of $0.30 per share, or 18%, from the second quarter dividend of $1.70 per share. The dividend will be payable Aug. 5, 2026, to shareholders of record at the close of business July 20, 2026. The board also declared a cash dividend on the following series of preferred stocks, which will be payable to shareholders of record as of the close of business on the respective record dates shown below. Preferred Series B will pay a dividend amount of $0.45 per preferred share on Sept. 10, 2026, to shareholders of record as of Aug. 14, 2026. Preferred Series T will pay $850.00 per preferred share and $8.50 per depositary share on Sept. 15, 2026, to shareholders of record as of Aug. 28, 2026. Preferred Series U will pay $1,500.00 per preferred share and $15.00 per depositary share on Aug. 15, 2026, to shareholders of record as of July 31, 2026.

PNC Announces Planned Common Stock Dividend Increase to $2.00 Per Share

(NYSE:PNC) The PNC Financial Services Group, Inc. announced that it plans to recommend to its board of directors an increase in the quarterly cash dividend on common stock of $0.30 per share, or 18%, to $2.00 per share in the third quarter of 2026. PNC's board of directors is expected to consider this recommendation at its next scheduled meeting July 6, 2026. PNC received the results of the Federal Reserve's 2026 Comprehensive Capital Analysis and Review (CCAR), which included an estimate of PNC's minimum capital ratios for the period from the first quarter of 2026 through the first quarter of 2028 under the hypothetical Supervisory Severely Adverse scenario. PNC's start to minimum Common Equity Tier 1 (CET1) depletion during the stress test horizon is 0.3%, reflecting the best performance in its peer group. PNC's stress capital buffer (SCB) will be maintained at the current regulatory minimum of 2.5% until a new SCB requirement is set based on a supervisory stress test to be conducted in 2027, effective Oct. 1, 2027. PNC's CET1 ratio of 10.1% as reported for March 31, 2026, significantly exceeds its SCB-based requirement of 7.0%, which is comprised of the regulatory minimum (4.5%) plus the SCB (2.5%). The company projects that future events or circumstances may change its outlook and may also affect the nature of the assumptions, risks and uncertainties to which its forward-looking statements are subject.

PNC Releases Results of 2026 Dodd-Frank Company-Run Stress Test

(NYSE:PNC) The PNC Financial Services Group, Inc. announced the results of its biennial company-run stress test conducted in accordance with regulations of the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The results include PNC's estimates of pre-provision net revenue, other revenue, loan and other losses, net income before taxes, risk-weighted assets, and regulatory capital ratios. The Federal Reserve released its results of the 2026 supervisory stress test at 4:00 p.m., June 24, 2026. PNC's stress capital buffer (SCB) will be maintained at the regulatory minimum of 2.5% until PNC receives a new stress capital buffer requirement based on the results of a supervisory stress test conducted in 2027. The new requirement would be effective Oct. 1, 2027. The PNC Financial Services Group, Inc. is described as one of the largest diversified financial services institutions in the United States. Additional information on the methodologies used in conducting the stress test may be found at http://www.pnc.com/regulatorydisclosures.

PNC Completes FirstBank Customer Conversion

(NYSE: PNC) The PNC Financial Services Group, Inc. announced it has completed the conversion of 780,000 customers, more than 1,620 employees, and 95 branches across Colorado and Arizona from FirstBank to PNC Bank. Former FirstBank customers now have access to PNC's full range of products and services, including digital banking capabilities, treasury management solutions, wealth management offerings, and a nationwide branch and ATM network. The combination expands PNC's ability to serve consumers, businesses, and communities nationwide through a network of approximately 2,400 branch locations and 58,000 PNC and partner ATMs. The completion of the conversion follows PNC's acquisition of FirstBank and further strengthens PNC's presence in Colorado and Arizona. The PNC Financial Services Group, Inc. is described as one of the largest diversified financial services institutions in the United States. The announcement includes cautionary statements regarding forward-looking information and risks related to the transaction, such as the risk that the cost savings and synergies from the transaction may not be fully realized or may take longer than anticipated to be realized. The risk that the integration of FirstBank's business and operations into PNC will be materially delayed or will be more costly or difficult than expected is also noted.