Exhibit 99.2

pncbanklogoa18a.jpg



THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT
FIRST QUARTER 2023
(Unaudited)



THE PNC FINANCIAL SERVICES GROUP, INC.
FINANCIAL SUPPLEMENT
FIRST QUARTER 2023
(UNAUDITED)
Consolidated Results:
Page
6-7
9-11
Business Segment Results:
14-15
18-20

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on April 14, 2023. This information speaks only as of the particular date or dates included in the schedules. We do not undertake any obligation to, and disclaim any duty to, correct or update any of the information provided in this Financial Supplement. Our future financial performance is subject to risks and uncertainties as described in our United States Securities and Exchange Commission (SEC) filings.

BUSINESS
PNC is one of the largest diversified financial services companies in the United States (U.S.) and is headquartered in Pittsburgh, Pennsylvania. PNC has businesses engaged in retail banking, including residential mortgage, corporate and institutional banking and asset management, providing many of its products and services nationally. PNC's retail branch network is located coast-to-coast. PNC also has strategic international offices in four countries outside the U.S.





THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to First Quarter 2023 Financial Supplement (Unaudited)
Financial Supplement Table Reference
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THE PNC FINANCIAL SERVICES GROUP, INC.

Page 1

Table 1: Consolidated Income Statement (Unaudited)
Three months ended
March 31December 31September 30June 30March 31
In millions, except per share data20232022202220222022
Interest Income
Loans$4,258 $3,860 $3,138 $2,504 $2,293 
Investment securities885 836 715 631 544 
Other516 413 279 146 77 
Total interest income5,659 5,109 4,132 3,281 2,914 
Interest Expense
Deposits1,291 812 340 88 27 
Borrowed funds783 613 317 142 83 
Total interest expense2,074 1,425 657 230 110 
Net interest income3,585 3,684 3,475 3,051 2,804 
Noninterest Income
Asset management and brokerage356 345 357 365 377 
Capital markets and advisory262 336 299 409 252 
Card and cash management659 671 671 671 620 
Lending and deposit services306 296 287 282 269 
Residential and commercial mortgage177 184 143 161 159 
Other (a) (b)258 247 317 177 211 
Total noninterest income2,018 2,079 2,074 2,065 1,888 
Total revenue5,603 5,763 5,549 5,116 4,692 
Provision For (Recapture of) Credit Losses235 408 241 36 (208)
Noninterest Expense
Personnel1,826 1,943 1,805 1,779 1,717 
Occupancy251 247 241 246 258 
Equipment350 369 344 351 331 
Marketing74 106 93 95 61 
Other820 809 797 773 805 
Total noninterest expense3,321 3,474 3,280 3,244 3,172 
Income before income taxes and noncontrolling interests2,047 1,881 2,028 1,836 1,728 
Income taxes353 333 388 340 299 
Net income1,694 1,548 1,640 1,496 1,429 
Less: Net income attributable to noncontrolling interests17 20 16 15 21 
Preferred stock dividends (c)68 120 65 71 45 
Preferred stock discount accretion and redemptions2 1 1 1 2 
Net income attributable to common shareholders$1,607 $1,407 $1,558 $1,409 $1,361 
Earnings Per Common Share
Basic$3.98 $3.47 $3.78 $3.39 $3.23 
Diluted$3.98 $3.47 $3.78 $3.39 $3.23 
Average Common Shares Outstanding
Basic401 404 410 414 420 
Diluted402 404 410 414 420 
Efficiency59 %60 %59 %63 %68 %
Noninterest income to total revenue36 %36 %37 %40 %40 %
Effective tax rate (d)17.2 %17.7 %19.1 %18.5 %17.3 %
(a)Includes net gains (losses) on sales of securities of less than $1 million, $(3) million, less than $1 million, less than $(1) million and $(4) million for the quarters ended March 31, 2023, December 31, 2022, September 30, 2022, June 30, 2022 and March 31, 2022, respectively.
(b)Includes Visa Class B derivative fair value adjustments of $(45) million, $(41) million, $13 million, $(16) million and $4 million for the quarters ended March 31, 2023, December 31, 2022, September 30, 2022, June 30, 2022 and March 31, 2022, respectively.
(c)Dividends are payable quarterly other than Series R and Series S preferred stock, which are payable semiannually.
(d)The effective income tax rates are generally lower than the statutory rate due to the relationship of pretax income to tax credits and earnings that are not subject to tax.












THE PNC FINANCIAL SERVICES GROUP, INC.

Page 2

Table 2: Consolidated Balance Sheet (Unaudited)
March 31December 31September 30June 30March 31
In millions, except par value20232022202220222022
Assets
Cash and due from banks$5,940 $7,043 $6,548 $8,582 $7,572 
Interest-earning deposits with banks (a)33,865 27,320 40,278 28,404 48,776 
Loans held for sale (b)998 1,010 1,126 1,191 1,506 
Investment securities – available for sale 43,220 44,159 45,798 52,984 112,313 
Investment securities – held to maturity95,019 95,175 90,653 79,748 20,098 
Loans (b)326,475 326,025 315,400 310,800 294,457 
Allowance for loan and lease losses (4,741)(4,741)(4,581)(4,462)(4,558)
Net loans321,734 321,284 310,819 306,338 289,899 
Equity investments8,323 8,437 8,130 8,441 7,798 
Mortgage servicing rights3,293 3,423 3,206 2,608 2,208 
Goodwill10,987 10,987 10,987 10,916 10,916 
Other (b) 38,398 38,425 41,932 41,574 40,160 
Total assets$561,777 $557,263 $559,477 $540,786 $541,246 
Liabilities
Deposits
Noninterest-bearing$118,014 $124,486 $138,423 $146,438 $150,798 
Interest-bearing318,819 311,796 299,771 294,373 299,399 
Total deposits436,833 436,282 438,194 440,811 450,197 
Borrowed funds
Federal Home Loan Bank borrowings32,020 32,075 30,075 10,000 
Senior debt19,622 16,657 13,357 14,358 16,206 
Subordinated debt5,630 6,307 7,286 7,487 6,766 
Other (b)3,550 3,674 3,915 4,139 3,599 
Total borrowed funds60,822 58,713 54,633 35,984 26,571 
Allowance for unfunded lending related commitments 672 694 682 681 639 
Accrued expenses and other liabilities14,376 15,762 19,245 15,622 14,623 
Total liabilities512,703 511,451 512,754 493,098 492,030 
Equity
Preferred stock (c)
Common stock - $5 par value
Authorized 800 shares, issued 543 shares2,714 2,714 2,714 2,714 2,713 
Capital surplus19,864 18,376 19,810 18,531 17,487 
Retained earnings54,598 53,572 52,777 51,841 51,058 
Accumulated other comprehensive income (loss)(9,108)(10,172)(10,486)(8,358)(5,731)
Common stock held in treasury at cost: 144, 142, 139, 132, and 128 shares(19,024)(18,716)(18,127)(17,076)(16,346)
Total shareholders’ equity49,044 45,774 46,688 47,652 49,181 
Noncontrolling interests30 38 35 36 35 
Total equity49,074 45,812 46,723 47,688 49,216 
Total liabilities and equity$561,777 $557,263 $559,477 $540,786 $541,246 
(a)Amounts include balances held with the Federal Reserve Bank of $32.5 billion, $26.9 billion, $39.8 billion, $28.0 billion and $48.4 billion as of March 31, 2023, December 31, 2022, September 30, 2022, June 30, 2022 and March 31, 2022, respectively.
(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our 2022 Form 10-K included, and our first quarter 2023 Form 10-Q will include, additional information regarding these items.
(c)Par value less than $0.5 million at each date.




THE PNC FINANCIAL SERVICES GROUP, INC.

Page 3
Table 3: Average Consolidated Balance Sheet (Unaudited) (a) (b)
Three months ended
March 31December 31September 30June 30March 31
In millions20232022202220222022
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency$31,850 $31,818 $32,500 $37,285 $67,498 
Non-agency689 7147489021,007
Commercial mortgage-backed3,102 3,3773,4894,3625,229
Asset-backed2181051102,3886,225
U.S. Treasury and government agencies9,08810,34511,78917,48047,468
Other3,2633,3703,5064,2004,876
Total securities available for sale48,21049,72952,14266,617132,303
Securities held to maturity
Residential mortgage-backed45,616 44,184 39,329 33,086 106 
Commercial mortgage-backed2,453 2,323 2,069 1,175 
Asset-backed7,026 6,995 6,571 4,119 
U.S. Treasury and government agencies36,74836,441 34,27928,167 919
Other3,3383,2182,6001,560569
Total securities held to maturity95,18193,16184,84868,1071,594
Total investment securities143,391142,890136,990134,724133,897
Loans
Commercial and industrial182,017179,111172,788166,968155,481
Commercial real estate36,11036,18135,14034,46734,004
Equipment lease financing6,4526,2756,2026,2006,099
Consumer55,02054,80954,56354,55154,965
Residential real estate45,92745,49944,33342,60440,152
Total loans325,526321,875313,026304,790290,701
Interest-earning deposits with banks (c)34,05430,39531,89239,68962,540
Other interest-earning assets8,8069,6909,5609,9359,417
Total interest-earning assets511,777504,850491,468489,138496,555
Noninterest-earning assets50,55552,35655,62957,74053,541
Total assets$562,332 $557,206 $547,097 $546,878 $550,096 
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market$65,753 $63,944 $60,934 $58,019 $62,596 
Demand124,376122,501120,358119,636112,372
Savings104,408102,020106,761109,063108,532
Time deposits20,51912,98210,02010,37816,043
Total interest-bearing deposits315,056301,447298,073297,096299,543
Borrowed funds
Federal Home Loan Bank borrowings32,05630,64016,708 6,978
Senior debt19,67916,31214,59716,17218,015
Subordinated debt6,1006,9337,6146,9986,773
Other5,1335,3465,3425,5085,524
Total borrowed funds62,96859,23144,26135,65630,312
Total interest-bearing liabilities378,024360,678342,334332,752329,855
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits121,176133,461141,167149,432153,726
Accrued expenses and other liabilities16,01417,46115,69917,11614,058
Equity47,11845,60647,89747,57852,457
Total liabilities and equity$562,332 $557,206 $547,097 $546,878 $550,096 
(a)Calculated using average daily balances.
(b)Nonaccrual loans are included in loans, net of unearned income. The impact of financial derivatives used in interest rate risk management is included in the interest income/expense and average yields/rates of the related assets and liabilities. Basis adjustments related to hedged items are included in noninterest-earning assets and noninterest-bearing liabilities. Average balances of securities are based on amortized historical cost (excluding adjustments to fair value, which are included in other assets). Average balances for certain loans and borrowed funds accounted for at fair value are included in noninterest-earning assets and noninterest-bearing liabilities, with changes in fair value recorded in Noninterest income.
(c)Amounts include average balances held with the Federal Reserve Bank of $33.5 billion, $30.0 billion, $31.5 billion, $39.3 billion and $62.3 billion for the three months ended March 31, 2023, December 31, 2022, September 30, 2022, June 30, 2022 and March 31, 2022, respectively.

THE PNC FINANCIAL SERVICES GROUP, INC.

Page 4
Table 4: Details of Net Interest Margin (Unaudited)
Three months ended
March 31December 31September 30June 30March 31
20232022202220222022
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency2.67 %2.54 %2.36 %2.17 %1.73 %
Non-agency8.53 %7.85 %7.62 %7.56 %7.53 %
Commercial mortgage-backed2.62 %2.75 %2.70 %2.45 %2.36 %
Asset-backed7.04 %11.98 %6.31 %1.84 %1.35 %
U.S. Treasury and government agencies2.05 %1.96 %1.73 %1.60 %1.18 %
Other2.47 %2.39 %2.47 %2.59 %2.73 %
Total securities available for sale2.64 %2.52 %2.33 %2.13 %1.62 %
Securities held to maturity
Residential mortgage-backed2.74 %2.60 %2.30 %1.98 %
Commercial mortgage-backed4.95 %4.57 %3.50 %2.30 %
Asset-backed3.97 %3.44 %2.58 %1.92 %
U.S. Treasury and government agencies1.33 %1.30 %1.19 %1.05 %2.61 %
Other4.62 %4.47 %4.10 %4.21 %4.17 %
Total securities held to maturity2.41 %2.27 %1.96 %1.65 %2.99 %
Total investment securities2.49 %2.36 %2.10 %1.89 %1.64 %
Loans
Commercial and industrial5.34 %4.70 %3.69 %2.90 %2.75 %
Commercial real estate6.02 %5.28 %4.27 %3.15 %2.79 %
Equipment lease financing4.28 %4.18 %3.85 %3.62 %3.74 %
Consumer6.34 %5.88 %5.32 %4.68 %4.69 %
Residential real estate3.35 %3.28 %3.21 %3.11 %3.10 %
Total loans5.29 %4.75 %3.98 %3.29 %3.19 %
Interest-earning deposits with banks4.58 %3.76 %2.32 %0.79 %0.19 %
Other interest-earning assets5.75 %5.20 %3.94 %2.76 %2.07 %
Total yield on interest-earning assets4.46 %4.02 %3.35 %2.69 %2.37 %
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market2.40 %1.75 %0.85 %0.19 %0.03 %
Demand1.58 %1.14 %0.59 %0.15 %0.02 %
Savings1.03 %0.50 %0.09 %0.04 %0.04 %
Time deposits3.00 %1.45 %0.26 %0.18 %0.13 %
Total interest-bearing deposits1.66 %1.07 %0.45 %0.12 %0.04 %
Borrowed funds
Federal Home Loan Bank borrowings4.80 %3.92 %2.60 %1.24 %
Senior debt5.39 %4.30 %2.96 %1.61 %1.02 %
Subordinated debt5.69 %4.79 %3.43 %1.94 %1.40 %
Other
3.70 %3.24 %2.20 %1.46 %0.97 %
Total borrowed funds4.98 %4.07 %2.81 %1.58 %1.10 %
Total rate on interest-bearing liabilities2.20 %1.55 %0.75 %0.27 %0.13 %
Interest rate spread2.26 %2.47 %2.60 %2.42 %2.24 %
Benefit from use of noninterest-bearing sources (b)0.58 %0.45 %0.22 %0.08 %0.04 %
Net interest margin2.84 %2.92 %2.82 %2.50 %2.28 %
(a)Yields and rates are calculated using the applicable annualized interest income or interest expense divided by the applicable average earning assets or interest-bearing liabilities. Net interest margin is the total yield on interest-earning assets minus the total rate on interest-bearing liabilities and includes the benefit from use of noninterest-bearing sources. To provide more meaningful comparisons of net interest margins, we use net interest income on a taxable-equivalent basis in calculating average yields used in the calculation of net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments. This adjustment is not permitted under GAAP in the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the three months ended March 31, 2023, December 31, 2022, September 30, 2022, June 30, 2022 and March 31, 2022 were $38 million, $36 million, $29 million, $25 million and $22 million, respectively.
(b)Represents the positive effects of investing noninterest-bearing sources in interest-earning assets.

THE PNC FINANCIAL SERVICES GROUP, INC.

Page 5
Table 5: Details of Loans (Unaudited)
March 31December 31September 30June 30March 31
In millions20232022202220222022
Commercial
Commercial and industrial
Manufacturing$32,132 $30,845 $28,629 $27,179 $25,035 
Retail/wholesale trade29,17229,17627,53226,47525,027
Service providers23,18623,54822,04321,18420,584
Financial services22,53421,32021,59019,59417,674
Real estate related (a)17,54817,78017,51316,17915,459
Technology, media & telecommunications11,33811,84511,36616,24910,684
Health care10,53710,64910,42010,1539,810
Transportation and warehousing7,8247,8587,9777,6047,209
Other industries28,72629,19826,74327,21426,392
Total commercial and industrial182,997 182,219 173,813 171,831 157,874 
Commercial real estate35,991 36,316 35,592 34,452 34,171 
Equipment lease financing6,424 6,514 6,192 6,240 6,216 
Total commercial225,412225,049215,597212,523198,261
Consumer
Residential real estate46,067 45,889 45,057 43,717 41,566 
Home equity26,203 25,983 25,367 24,693 24,185 
Automobile14,923 14,836 15,025 15,323 16,001 
Credit card6,961 7,069 6,774 6,650 6,464 
Education2,131 2,173 2,287 2,332 2,441 
Other consumer4,778 5,026 5,293 5,562 5,539 
Total consumer101,063 100,976 99,803 98,277 96,196 
Total loans$326,475 $326,025 $315,400 $310,800 $294,457 
(a)Represents loans to customers in the real estate and construction industries.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 6
Allowance for Credit Losses (Unaudited)

Table 6: Change in Allowance for Loan and Lease Losses
Three months ended
March 31December 31September 30June 30March 31
Dollars in millions20232022202220222022
Allowance for loan and lease losses
Beginning balance$4,741 $4,581 $4,462 $4,558 $4,868 
Adoption of ASU 2022-02 (a)(35)
Beginning balance, adjusted4,706 4,581 4,462 4,558 4,868 
Gross charge-offs:
Commercial and industrial(104)(121)(65)(30)(41)
Commercial real estate(12)(22)(7)(5)(10)
Equipment lease financing(4)(2)(1)(2)(1)
Residential real estate(3)(2)(2) (7)
Home equity(6)(6)(3)(2)(4)
Automobile(33)(34)(32)(34)(52)
Credit card(74)(62)(59)(67)(68)
Education(4)(4)(4)(4)(4)
Other consumer(42)(64)(49)(51)(64)
Total gross charge-offs(282)(317)(222)(195)(251)
Recoveries:
Commercial and industrial20 33 23 15 30 
Commercial real estate2 2 1 1 1 
Equipment lease financing3 1 1 3 3 
Residential real estate3 2 4 6 5 
Home equity11 13 19 18 21 
Automobile24 24 30 39 31 
Credit card11 8 12 19 12 
Education2 1 1 2 1 
Other consumer11 9 12 9 10 
Total recoveries87 93 103 112 114 
Net (charge-offs) / recoveries:
Commercial and industrial(84)(88)(42)(15)(11)
Commercial real estate(10)(20)(6)(4)(9)
Equipment lease financing(1)(1)1 2 
Residential real estate2 6 (2)
Home equity5 7 16 16 17 
Automobile(9)(10)(2)5 (21)
Credit card(63)(54)(47)(48)(56)
Education(2)(3)(3)(2)(3)
Other consumer(31)(55)(37)(42)(54)
Total net (charge-offs) (195)(224)(119)(83)(137)
Provision for (recapture of) credit losses (b)229 380 241 (10)(172)
Other1 4 (3)(3)(1)
Ending balance$4,741 $4,741 $4,581 $4,462 $4,558 
Supplemental Information
Net charge-offs
Commercial net charge-offs$(95)$(109)$(48)$(18)$(18)
Consumer net charge-offs(100)(115)(71)(65)(119)
Total net charge-offs $(195)$(224)$(119)$(83)$(137)
Net charge-offs to average loans 0.24 %0.28 %0.15 %0.11 %0.19 %
Commercial0.17 %0.20 %0.09 %0.03 %0.04 %
Consumer0.40 %0.45 %0.28 %0.27 %0.51 %
(a)Represents the impact of adopting ASU 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures on January 1, 2023. As a result of adoption, we eliminated the accounting guidance for TDRs, including the use of a discounted cash flow approach to measure the allowance for TDRs. Our first quarter 2023 Form 10-Q will include additional information related to our adoption of this ASU.
(b)See Table 7 for the components of the Provision for (recapture of) credit losses being reported on the Consolidated Income Statement.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 7
Allowance for Credit Losses (Unaudited) (Continued)

Table 7: Components of the Provision for (Recapture of) Credit Losses
Three months ended
March 31December 31September 30June 30March 31
In millions20232022202220222022
Provision for (recapture of) credit losses
Loans and leases$229 $380 $241 $(10)$(172)
Unfunded lending related commitments(22)12 1 42 (23)
Investment securities (1)10 3 3 1 
Other financial assets29 6 (4)1 (14)
Total provision for (recapture of) credit losses$235 $408 $241 $36 $(208)


Table 8: Allowance for Credit Losses by Loan Class (a)
March 31, 2023December 31, 2022March 31, 2022

Dollars in millions		Allowance AmountTotal Loans% of Total LoansAllowance AmountTotal Loans% of Total LoansAllowance AmountTotal Loans% of Total Loans
Allowance for loan and lease losses
Commercial
Commercial and industrial$1,771 $182,997 0.97 %$1,957 $182,219 1.07 %$1,884 $157,874 1.19 %
Commercial real estate1,171 35,991 3.25 %1,047 36,316 2.88 %1,034 34,171 3.03 %
Equipment lease financing104 6,424 1.62 %110 6,514 1.69 %85 6,216 1.37 %
Total commercial3,046 225,412 1.35 %3,114 225,049 1.38 %3,003 198,261 1.51 %
Consumer
Residential real estate95 46,067 0.21 %92 45,889 0.20 %25 41,566 0.06 %
Home equity316 26,203 1.21 %274 25,983 1.05 %170 24,185 0.70 %
Automobile199 14,923 1.33 %226 14,836 1.52 %276 16,001 1.72 %
Credit card782 6,961 11.23 %748 7,069 10.58 %708 6,464 10.95 %
Education64 2,131 3.00 %63 2,173 2.90 %66 2,441 2.70 %
Other consumer239 4,778 5.00 %224 5,026 4.46 %310 5,539 5.60 %
Total consumer1,695 101,063 1.68 %1,627 100,976 1.61 %1,555 96,196 1.62 %
Total
4,741 $326,475 1.45 %4,741 $326,025 1.45 %4,558 $294,457 1.55 %
Allowance for unfunded lending related commitments
672 694 639 
Allowance for credit losses
$5,413 $5,435 $5,197 
Supplemental Information
Allowance for credit losses to total loans
1.66 %1.67 %1.76 %
Commercial1.60 %1.66 %1.81 %
Consumer1.79 %1.69 %1.67 %
(a)    Excludes allowances for investment securities and other financial assets, which together totaled $205 million, $176 million and $158 million at March 31, 2023, December 31, 2022 and March 31, 2022, respectively.

THE PNC FINANCIAL SERVICES GROUP, INC.

Page 8
Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type
March 31December 31September 30June 30March 31
Dollars in millions20232022202220222022
Nonperforming loans (a)
Commercial
Commercial and industrial
Service providers$128 $174 $223 $151 $173 
Manufacturing105 85 88 101 70 
Retail/wholesale trade82 151 158 87 59 
Health care57 50 45 54 37 
Real estate related (b)43 50 47 59 39 
Transportation and warehousing24 27 29 30 28 
Technology, media & telecommunications22 20 20 21 36 
Other industries87 106 138 146 218 
Total commercial and industrial548 663 748 649 660 
Commercial real estate337 189 148 161 332 
Equipment lease financing6 6 7 5 6 
Total commercial891 858 903 815 998 
Consumer (c)
Residential real estate 432 424 429 457 526 
Home equity523 526 530 556 576 
Automobile145 155 167 175 181 
Credit card9 8 6 6 8 
Other consumer10 14 33 37 9 
Total consumer1,119 1,127 1,165 1,231 1,300 
Total nonperforming loans (d)2,010 1,985 2,068 2,046 2,298 
OREO and foreclosed assets38 34 33 29 26 
Total nonperforming assets$2,048 $2,019 $2,101 $2,075 $2,324 
Nonperforming loans to total loans0.62 %0.61 %0.66 %0.66 %0.78 %
Nonperforming assets to total loans, OREO and foreclosed assets0.63 %0.62 %0.67 %0.67 %0.79 %
Nonperforming assets to total assets0.36 %0.36 %0.38 %0.38 %0.43 %
Allowance for loan and lease losses to nonperforming loans 236 %239 %222 %218 %198 %
(a)In connection with the adoption of ASU 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, nonperforming loans as of March 31, 2023 include certain loans whose terms were modified as a result of a borrower’s financial difficulty. Prior period amounts included nonperforming TDRs, for which accounting guidance was eliminated effective January 1, 2023. Our first quarter 2023 Form 10-Q will include additional information related to our adoption of this ASU.
(b)Represents loans related to customers in the real estate and construction industries.
(c)Excludes most unsecured consumer loans and lines of credit, which are charged off after 120 to 180 days past due and are not placed on nonperforming status.
(d)Nonperforming loans exclude certain government insured or guaranteed loans, loans held for sale and loans accounted for under the fair value option.


Table 10: Change in Nonperforming Assets
January 1, 2023 -October 1, 2022 -July 1, 2022 -April 1, 2022 -January 1, 2022 -
In millionsMarch 31, 2023December 31, 2022September 30, 2022June 30, 2022March 31, 2022
Beginning balance$2,019 $2,101 $2,075 $2,324 $2,506 
New nonperforming assets452 346 438 393 346 
Charge-offs and valuation adjustments(122)(174)(79)(55)(62)
Principal activity, including paydowns and payoffs(172)(139)(182)(273)(274)
Asset sales and transfers to loans held for sale(46)(22)(3)(6)(21)
Returned to performing status(83)(93)(148)(308)(171)
Ending balance$2,048 $2,019 $2,101 $2,075 $2,324 




THE PNC FINANCIAL SERVICES GROUP, INC.

Page 9
Accruing Loans Past Due (Unaudited)                  

Under the CARES Act credit reporting rules, certain loans modified due to COVID-19 related hardships are not being reported as past due
for the periods presented based on the contractual terms of the loan, even where borrowers may not be making payments on their loans during the modification period.

Table 11: Accruing Loans Past Due 30 to 59 Days (a)
March 31December 31September 30June 30March 31
Dollars in millions20232022202220222022
Commercial
Commercial and industrial$119$169$321$99$185
Commercial real estate2519112868
Equipment lease financing33206720
Total commercial177208338134273
Consumer
Residential real estate
Non government insured 167190223230239
Government insured7891756866
Home equity4853464341
Automobile7910696102109
Credit card4850443739
Education
Non government insured 65655
Government insured
2929303936
Other consumer1315213847
Total consumer468539541562582
Total$645$747$879$696$855
Supplemental Information
Total accruing loans past due 30-59 days to total loans0.20 %0.23 %0.28 %0.22 %0.29 %
Commercial0.08 %0.09 %0.16 %0.06 %0.14 %
Consumer0.46 %0.53 %0.54 %0.57 %0.61 %
(a)Excludes loans held for sale.



THE PNC FINANCIAL SERVICES GROUP, INC.

Page 10
Accruing Loans Past Due (Unaudited) (Continued)

Table 12: Accruing Loans Past Due 60 to 89 Days (a)
March 31December 31September 30June 30March 31
Dollars in millions20232022202220222022
Commercial
Commercial and industrial$21$27$55$128$64
Commercial real estate1441141
Equipment lease financing54641
Total commercial273565143106
Consumer
Residential real estate
Non government insured 4354495347
Government insured5558464237
Home equity1820161416
Automobile1825212426
Credit card3535302528
Education
Non government insured
42423
Government insured
1720222121
Other consumer812152126
Total consumer198226203202204
Total$225$261$268$345$310
Supplemental Information
Total accruing loans past due 60-89 days to total loans0.07 %0.08 %0.08 %0.11 %0.11 %
Commercial0.01 %0.02 %0.03 %0.07 %0.05 %
Consumer0.20 %0.22 %0.20 %0.21 %0.21 %
(a)Excludes loans held for sale.




THE PNC FINANCIAL SERVICES GROUP, INC.

Page 11
Accruing Loans Past Due (Unaudited) (Continued)

Table 13: Accruing Loans Past Due 90 Days or More (a)
March 31December 31September 30June 30March 31
Dollars in millions20232022202220222022
Commercial
Commercial and industrial$134$137$139$138$105
Commercial real estate57
Total commercial134137144138112
Consumer
Residential real estate
Non government insured 2632302041
Government insured152167166182232
Automobile57668
Credit card7470585462
Education
Non government insured 22222
Government insured
5457615662
Other consumer910121215
Total consumer322345335332422
Total$456$482$479$470$534
Supplemental Information
Total accruing loans past due 90 days or more to total loans0.14 %0.15 %0.15 %0.15 %0.18 %
Commercial0.06 %0.06 %0.07 %0.06 %0.06 %
Consum