PITTSBURGH, Pa. – PNC Financial Services Group on Wednesday reported $1.8 billion in net income for the third quarter of 2025, which represents a record 8% noninterest income growth and a 4% revenue increase from a quarter ago.

The diluted earnings per share was $4.35, a 50-cent increase from the second quarter.

The Sept. 8 announcement of PNC’s agreement to acquire FirstBank Holding Co., including its subsidiary FirstBank, will more than triple PNC’s network in Colorado to 120 branches. FirstBank had $26.8 billion in assets as of June 30 and operates 95 branches.

The acquisition of the Lakewood, Colo., headquartered FirstBank includes an implied consideration of $4.1 billion and is expected to close in early 2026.

“We delivered another great quarter with better than expected financial results and steady client growth across all our business lines,” said Bill Demchak, PNC chairman and CEO. “Fee income grew 9% and expenses were well-controlled, which contributed to another quarter of positive operating leverage. Credit performed well, and we continued to build on our strong capital levels. The planned acquisition of FirstBank positions us for accelerated expansion in Colorado and Arizona as we continue to strategically grow our national franchise.”

Other highlights of PNC’s third quarter include:

  • Total revenue was $5.9 billion, an increase of $254 million.
  • Noninterest expenses were $3.5 billion, an increase of 2% from the second quarter.
  • Fee income was $2.1 billion, an increase of $175 million.
  • Average loans increased by $3.2 billion, a 1% increase from the second quarter, driven by a 2% growth in commercial and industrial loans.
  •  A $8.9 billion increase in average deposits, also a 2% increase due to commercial deposit growth.
  • Net loan charge-offs were $179 million.
  • Average interest investment securities were $144.4 billion, an increase of $2.5 billion from the second quarter.
  • Net income is up $317 million from a year ago.

On Oct. 2, the PNC board of directors declared a quarterly cash dividend of $1.70 per share on common stock, which will be paid Nov. 5 to shareholders of record Oct. 14. PNC is returning $1 billion of capital to shareholders.

The full third-quarter report can be viewed HERE.