PITTSBURGH, Pa. – PNC Financial Services Group Inc. on Wednesday reported total revenue of $6.2 billion.
The revenue increased by $94 million from the previous quarter, driven by higher net interest income of $4 billion.
Fee income of $2.1 billion was down $44 million due primarily to a $31 million decline in mortgage servicing rights valuation. Other noninterest income was down $125 million.
Noninterest expenses were $3.8 billion, an increase of 5%, driven by the acquisition and integration of FirstBank Holding Co. in the first quarter.
FirstBank had $26 billion in assets at the time of the acquisition closure, with $16 billion in loans and $23 billion in deposits.
“2026 is off to a great start for PNC,” said Bill Demchak, PNC chairman and CEO. “During the first quarter we successfully closed the FirstBank acquisition, and, in addition, generated strong legacy loan growth. Client activity remains robust across all our geographies and, importantly, we’re well positioned to continue our strong momentum.”
Other first quarter 2026 highlights include:
- Average loans of $350.9 billion, an increase of 7%.
- Average commercial loans increased $16.8 billion, an increase of 7%.
- Total loans of $360.9 billion as of March 31, an increase of 7% from Dec. 31, 2025.
- Delinquencies of $1.6 billion, an increase of 8%.
- Nonperforming loans were stable at $2.2 billion.
- Average investment securities of $144.5 billion, a 2% increase.
- Average deposits of $458.4 billion, a 4% increase.
- PNC returned $1.4 billion of capital to shareholders.
The full report can be viewed HERE.