Banks in usa

PNC Bank

PNC Bank
222 Delaware Avenue
Wilmington, DE 19899

Concentration: Commercial Lending Specialization
Established: 1804-01-01
FDIC Insurance: 1934-01-01
FDIC Cert: #6384
Holden By: PNC Financial Services Group, Inc.
# of Branches: 2407, ranked #5
Website: www.pnc.com
Total Assets: $393,267,250,000
Total Deposits: $279,337,830,000
Total Equity Capital: $41,245,784,000
Total Domestic Deposits: $269,409,234,000
Net Income: $2,208,136,000
Quarterly Net Income: $1,156,704,000
Return on Assets: 1%
Quarterly Return on Assets: 1%
Return on Equity: 11%
Quarterly Return on Equity: 11%

Third quarter (October 16, 2019)

PNC increased $ 12 million in the third quarter of 2019, with a net profit of $ 1.4 billion and a noninterest expense of $ 2.6 billion.

The effective tax rate for the third quarter was 17.5%, and the effective tax rate for the second quarter was 16.6%.

Balance Sheet Overview Average financing in the third quarter increased $ 2.8 billion to $ 237.7 billion, up 1% compared to the second quarter.

Third-quarter net sales were $ 155 million, compared to $ 142 million in the second quarter.

Due to seasonal growth in commercial deposits, average deposits in the third quarter increased $ 6.2 billion, or 2%, to $ 279.1 billion.

Compared to the second quarter, the average Fed balance was $ 15.3 billion, an increase of $ 2.1 billion.

Total revenue for the third quarter of 2019 increased by $ 54 million compared to the second quarter due to higher non-interest and net interest income.

Compared to the third quarter of 2018, non-interest financial revenue for the third quarter of 2019 increased $ 98 million and commission revenue increased $ 57 million, or 4%.

Noninterest expense in the third quarter of 2019 increased $ 15 million compared to the third quarter of 2018.

The effective tax rate for the third quarter of 2019 was 17.5%, the effective tax rate for the second quarter of 2019 was 16.6%, and the effective tax rate for the third quarter of 2018 was 15.7%.

Consolidated Balance Sheet Review Average total assets in the third quarter of 2019 were $ 406.7 billion, up 2% from $ 297 billion in the second quarter of 2019, mainly due to higher loans and higher reserve requirements for the Federal Reserve Bank Increased. Better investment securities.

Average and year-end loans for the third quarter of 2019 increased $ 14.4 billion from the third quarter of 2018 due to an increase in commercial and shopper loans.

Average Fed balances increased from $ 13.2 billion in the second quarter to $ 15.3 billion in the third quarter of 2019 and decreased from $ 18.8 billion in the third quarter of 2018.

Compared to the third quarter of 2018, average and closed deposits in the third quarter of 2019 increased by $ 16.6 billion and $ 20.7 billion, respectively, and the decrease in interest-free deposits also reflected the transition to interest.

Average borrowing for the third quarter of 2019 increased by $ 1.6 billion compared to the second quarter. This is because the increase in borrowings by federal lending banks was partially offset by a decrease in purchased federal funds.

In the third quarter of 2019, PNC provided $ 1.5 billion of capital to shareholders by repurchasing $ 750 million of common stock and $ 1.5 billion of common stock.

The allowance for loan losses in the third quarter increased $ 3 million from the second quarter.

Net charge-offs in the third quarter of 2019 increased $ 13 million from the second quarter, primarily due to higher net charge-offs on auto loans.

Net charge-offs are 26% of the average annual loan for the third quarter of 2019 compared to 24% for the second quarter of 2019 and 16% for the third quarter of 2018.

As a result of the increase in mortgages, cars, credit cards, and unsecured installments, average loans increased 2% compared to 2Q 2019 and 5% compared to 3Q 2018, mortgages Were partially offset. And education loan reduction.

PNC announced that net income for the third quarter of 2019 is $ 1.4 billion. And an increase in deposit certificates.

Net charge-offs in the third quarter of 2019 were $ 128 million ($ 120 million in the second quarter and $ 96 million in the third quarter of 2018).

Residential mortgage loan origination volume increased to $3.4 billion for the third quarter of 2019 compared with $2.9 billion for the second quarter and $2.1 billion for the third quarter of 2018.

In the third quarter of 2019, the number of mortgages increased to $ 3.4 billion. This was $ 2.9 billion in the second quarter and $ 2.1 billion in the third quarter of 2018.

The acquisition of mortgage services in the third quarter of 2019 was $ 3 billion ($ 5 billion in the second quarter of 2018 and $ 6 billion in the third quarter of 2018).

PNC reported a net profit of $ 1.4 billion in the third quarter of 2019, with an average loan increase of 1% compared to the second quarter.

Net sales in the third quarter of 2019 were $ 30 million, compared with $ 23 million in the second quarter of 2018 and $ 1 million in the third quarter of 2018.

Noninterest income decreased compared to the second quarter due to the sale of the retirement record management business in the second quarter.

Details – PNC Bank reported a net profit of $ 1.4 billion and diluted earnings per share of $ 2.94 in the third quarter of 2019 – PNC Bank Financial Services Group, Therefore, PNC’s regulatory risk is a standardized approach to determine risk-weighted assets and calculate capital-based ratios for 2019 and 2018.

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