Exhibit 99.2

pncbanklogoa18a.jpg



THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT
SECOND QUARTER 2023
(Unaudited)




THE PNC FINANCIAL SERVICES GROUP, INC.
FINANCIAL SUPPLEMENT
SECOND QUARTER 2023
(UNAUDITED)
Consolidated Results:
Page
6-7
9-11
Business Segment Results:
14-15
18-19

The information contained in this Financial Supplement is preliminary, unaudited and based on data available on July 18, 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.

PRESENTATION OF NONINTEREST INCOME
In the fourth quarter of 2022, PNC updated the name of the noninterest income line item “Capital markets related” to “Capital markets and advisory.” This update did not impact the components of the category. All periods presented herein reflect these changes. For a description of each updated noninterest income revenue stream, see Note 1 Accounting Policies in our 2022 Form 10-K.




THE PNC FINANCIAL SERVICES GROUP, INC.
Cross Reference Index to Second 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 endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions, except per share data2023202320222022202220232022
Interest Income
Loans$4,523 $4,258 $3,860 $3,138 $2,504 $8,781 $4,797 
Investment securities883 885 836 715 631 1,768 1,175 
Other538 516 413 279 146 1,054 223 
Total interest income5,944 5,659 5,109 4,132 3,281 11,603 6,195 
Interest Expense
Deposits1,531 1,291 812 340 88 2,822 115 
Borrowed funds903 783 613 317 142 1,686 225 
Total interest expense2,434 2,074 1,425 657 230 4,508 340 
Net interest income3,510 3,585 3,684 3,475 3,051 7,095 5,855 
Noninterest Income
Asset management and brokerage348 356 345 357 365 704 742 
Capital markets and advisory213 262 336 299 409 475 661 
Card and cash management697 659 671 671 671 1,356 1,291 
Lending and deposit services298 306 296 287 282 604 551 
Residential and commercial mortgage98 177 184 143 161 275 320 
Other (a) (b)129 258 247 317 177 387 388 
Total noninterest income1,783 2,018 2,079 2,074 2,065 3,801 3,953 
Total revenue5,293 5,603 5,763 5,549 5,116 10,896 9,808 
Provision For (Recapture of) Credit Losses146 235 408 241 36 381 (172)
Noninterest Expense
Personnel1,846 1,826 1,943 1,805 1,779 3,672 3,496 
Occupancy244 251 247 241 246 495 504 
Equipment349 350 369 344 351 699 682 
Marketing109 74 106 93 95 183 156 
Other824 820 809 797 773 1,644 1,578 
Total noninterest expense3,372 3,321 3,474 3,280 3,244 6,693 6,416 
Income before income taxes and noncontrolling interests1,775 2,047 1,881 2,028 1,836 3,822 3,564 
Income taxes275 353 333 388 340 628 639 
Net income1,500 1,694 1,548 1,640 1,496 3,194 2,925 
Less: Net income attributable to noncontrolling interests17 17 20 16 15 34 36 
Preferred stock dividends (c)127 68 120 65 71 195 116 
Preferred stock discount accretion and
    redemptions
Net income attributable to common shareholders$1,354 $1,607 $1,407 $1,558 $1,409 $2,961 $2,770 
Earnings Per Common Share
Basic$3.36 $3.98 $3.47 $3.78 $3.39 $7.35 $6.62 
Diluted$3.36 $3.98 $3.47 $3.78 $3.39 $7.34 $6.61 
Average Common Shares Outstanding
Basic401 401 404 410 414 401 417 
Diluted401 402 404 410 414 401 417 
Efficiency64 %59 %60 %59 %63 %61 %65 %
Noninterest income to total revenue34 %36 %36 %37 %40 %35 %40 %
Effective tax rate (d)15.5 %17.2 %17.7 %19.1 %18.5 %16.4 %17.9 %
(a)Includes net gains (losses) on sales of securities of $(2) million, less than $1 million, $(3) million, less than $1 million and less than $(1) million for the quarters ended June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022, respectively, and $(2) million and $(4) million for the six months ended June 30, 2023 and June 30, 2022, respectively.
(b)Includes Visa Class B derivative fair value adjustments of $(83) million, $(45) million, $(41) million, $13 million and $(16) million for the quarters ended June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022, respectively, and $(127) million and $(12) million for the six months ended June 30, 2023 and June 30, 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)
June 30March 31December 31September 30June 30
In millions, except par value20232023202220222022
Assets
Cash and due from banks$6,191 $5,940 $7,043 $6,548 $8,582 
Interest-earning deposits with banks (a)38,259 33,865 27,320 40,278 28,404 
Loans held for sale (b)835 998 1,010 1,126 1,191 
Investment securities – available for sale 41,787 43,220 44,159 45,798 52,984 
Investment securities – held to maturity93,874 95,019 95,175 90,653 79,748 
Loans (b)321,761 326,475 326,025 315,400 310,800 
Allowance for loan and lease losses (4,737)(4,741)(4,741)(4,581)(4,462)
Net loans317,024 321,734 321,284 310,819 306,338 
Equity investments8,015 8,323 8,437 8,130 8,441 
Mortgage servicing rights3,455 3,293 3,423 3,206 2,608 
Goodwill10,987 10,987 10,987 10,987 10,916 
Other (b) 37,780 38,398 38,425 41,932 41,574 
Total assets$558,207 $561,777 $557,263 $559,477 $540,786 
Liabilities
Deposits
Noninterest-bearing$110,527 $118,014 $124,486 $138,423 $146,438 
Interest-bearing316,962 318,819 311,796 299,771 294,373 
Total deposits427,489 436,833 436,282 438,194 440,811 
Borrowed funds
Federal Home Loan Bank borrowings34,000 32,020 32,075 30,075 10,000 
Senior debt22,005 19,622 16,657 13,357 14,358 
Subordinated debt5,548 5,630 6,307 7,286 7,487 
Other (b)3,831 3,550 3,674 3,915 4,139 
Total borrowed funds65,384 60,822 58,713 54,633 35,984 
Allowance for unfunded lending related commitments 663 672 694 682 681 
Accrued expenses and other liabilities15,325 14,376 15,762 19,245 15,622 
Total liabilities508,861 512,703 511,451 512,754 493,098 
Equity
Preferred stock (c)
Common stock - $5 par value
Authorized 800 shares, issued 543 shares2,715 2,714 2,714 2,714 2,714 
Capital surplus19,934 19,864 18,376 19,810 18,531 
Retained earnings55,346 54,598 53,572 52,777 51,841 
Accumulated other comprehensive income (loss)(9,525)(9,108)(10,172)(10,486)(8,358)
Common stock held in treasury at cost: 145, 144, 142, 139, and 132 shares(19,150)(19,024)(18,716)(18,127)(17,076)
Total shareholders’ equity49,320 49,044 45,774 46,688 47,652 
Noncontrolling interests26 30 38 35 36 
Total equity49,346 49,074 45,812 46,723 47,688 
Total liabilities and equity$558,207 $561,777 $557,263 $559,477 $540,786 
(a)Amounts include balances held with the Federal Reserve Bank of $37.8 billion, $32.5 billion, $26.9 billion, $39.8 billion and $28.0 billion as of June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022, respectively.
(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our first quarter 2023 Form 10-Q included, and our second 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 endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions2023202320222022202220232022
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency$31,180 $31,850 $31,818 $32,500 $37,285 $31,513 $52,308 
Non-agency663 689714748902676954 
Commercial mortgage-backed2,948 3,1023,3773,4894,3623,0254,793 
Asset-backed5752181051102,3883974,296 
U.S. Treasury and government agencies8,2319,08810,34511,78917,4808,65732,391 
Other2,9973,2633,3703,5064,2003,1294,536 
Total securities available for sale46,59448,21049,72952,14266,61747,39799,278
Securities held to maturity
Residential mortgage-backed45,033 45,616 44,184 39,329 33,086 45,323 16,687 
Commercial mortgage-backed2,396 2,453 2,323 2,069 1,175 2,424 591 
Asset-backed6,712 7,026 6,995 6,571 4,1196,8682,071 
U.S. Treasury and government agencies36,91236,748 36,44134,279 28,16736,83114,618 
Other3,3913,3383,2182,6001,5603,3651,068 
Total securities held to maturity94,44495,18193,16184,84868,10794,81135,035
Total investment securities141,038143,391142,890136,990134,724142,208134,313
Loans
Commercial and industrial180,878182,017179,111172,788166,968181,444161,256 
Commercial real estate35,93836,11036,18135,14034,46736,02334,237 
Equipment lease financing6,3646,4526,2756,2026,2006,4086,150 
Consumer55,07055,02054,80954,56354,55155,04554,757 
Residential real estate46,28445,92745,49944,33342,60446,10741,385 
Total loans324,534325,526321,875313,026304,790325,027297,785
Interest-earning deposits with banks (c)31,43334,05430,39531,89239,68932,73651,120 
Other interest-earning assets9,2158,8069,6909,5609,9359,0129,677 
Total interest-earning assets506,220511,777504,850491,468489,138508,983492,895
Noninterest-earning assets49,28750,55552,35655,62957,74049,91856,232 
Total assets$555,507 $562,332 $557,206 $547,097 $546,878 $558,901 $549,127 
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market$63,691 $65,753 $63,944 $60,934 $58,019 $64,716 $60,295 
Demand124,111124,376122,501120,358119,636124,243116,024 
Savings102,415104,408102,020106,761109,063103,406108,799 
Time deposits22,34220,51912,98210,02010,37821,43613,195 
Total interest-bearing deposits312,559315,056301,447298,073297,096313,801298,313
Borrowed funds
Federal Home Loan Bank borrowings33,75232,05630,640 16,7086,97832,9093,508 
Senior debt20,91019,67916,31214,59716,17220,29817,089 
Subordinated debt5,8506,1006,9337,6146,9985,9746,886 
Other5,1805,1335,3465,3425,5085,1565,515 
Total borrowed funds65,69262,96859,23144,26135,65664,33732,998
Total interest-bearing liabilities378,251378,024360,678342,334332,752378,138331,311
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits113,178121,176133,461141,167149,432117,155151,567 
Accrued expenses and other liabilities15,06316,01417,46115,69917,11615,53616,245 
Equity49,01547,11845,60647,89747,57848,07250,004 
Total liabilities and equity$555,507 $562,332 $557,206 $547,097 $546,878 $558,901 $549,127 
(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 $30.6 billion, $33.5 billion, $30.0 billion, $31.5 billion and $39.3 billion for the three months ended June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022 and $32.0 billion and $50.7 billion for the six months ended June 30, 2023 and June 30,2022, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 4
Table 4: Details of Net Interest Margin (Unaudited)
Three months endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
2023202320222022202220232022
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency2.67 %2.67 %2.54 %2.36 %2.17 %2.67 %1.89 %
Non-agency9.39 %8.53 %7.85 %7.62 %7.56 %8.95 %7.55 %
Commercial mortgage-backed2.84 %2.62 %2.75 %2.70 %2.45 %2.72 %2.40 %
Asset-backed6.56 %7.04 %11.98 %6.31 %1.84 %6.67 %1.49 %
U.S. Treasury and government agencies2.20 %2.05 %1.96 %1.73 %1.60 %2.12 %1.29 %
Other2.55 %2.47 %2.39 %2.47 %2.59 %2.51 %2.67 %
Total securities available for sale2.73 %2.64 %2.52 %2.33 %2.13 %2.69 %1.79 %
Securities held to maturity
Residential mortgage-backed2.72 %2.74 %2.60 %2.30 %1.98 %2.73 %1.96 %
Commercial mortgage-backed5.35 %4.95 %4.57 %3.50 %2.30 %5.15 %2.29 %
Asset-backed4.10 %3.97 %3.44 %2.58 %1.92 %4.03 %1.91 %
U.S. Treasury and government agencies1.34 %1.33 %1.30 %1.19 %1.05 %1.33 %1.09 %
Other4.65 %4.62 %4.47 %4.10 %4.21 %4.63 %4.19 %
Total securities held to maturity2.41 %2.41 %2.27 %1.96 %1.65 %2.41 %1.67 %
Total investment securities2.52 %2.49 %2.36 %2.10 %1.89 %2.50 %1.76 %
Loans
Commercial and industrial5.70 %5.34 %4.70 %3.69 %2.90 %5.52 %2.83 %
Commercial real estate6.37 %6.02 %5.28 %4.27 %3.15 %6.19 %3.01 %
Equipment lease financing4.51 %4.28 %4.18 %3.85 %3.62 %4.40 %3.68 %
Consumer6.57 %6.34 %5.88 %5.32 %4.68 %6.46 %4.68 %
Residential real estate3.41 %3.35 %3.28 %3.21 %3.11 %3.38 %3.07 %
Total loans5.57 %5.29 %4.75 %3.98 %3.29 %5.43 %3.24 %
Interest-earning deposits with banks5.10 %4.58 %3.76 %2.32 %0.79 %4.83 %0.42 %
Other interest-earning assets5.96 %5.75 %5.20 %3.94 %2.76 %5.86 %2.42 %
Total yield on interest-earning assets4.70 %4.46 %4.02 %3.35 %2.69 %4.58 %2.53 %
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market2.79 %2.40 %1.75 %0.85 %0.19 %2.59 %0.10 %
Demand1.89 %1.58 %1.14 %0.59 %0.15 %1.74 %0.09 %
Savings1.26 %1.03 %0.50 %0.09 %0.04 %1.14 %0.04 %
Time deposits3.26 %3.00 %1.45 %0.26 %0.18 %3.14 %0.15 %
Total interest-bearing deposits1.96 %1.66 %1.07 %0.45 %0.12 %1.81 %0.08 %
Borrowed funds
Federal Home Loan Bank borrowings5.28 %4.80 %3.92 %2.60 %1.24 %5.04 %1.24 %
Senior debt5.91 %5.39 %4.30 %2.96 %1.61 %5.66 %1.30 %
Subordinated debt6.19 %5.69 %4.79 %3.43 %1.94 %5.94 %1.68 %
Other
3.79 %3.70 %3.24 %2.20 %1.46 %3.74 %1.22 %
Total borrowed funds5.44 %4.98 %4.07 %2.81 %1.58 %5.22 %1.36 %
Total rate on interest-bearing liabilities2.56 %2.20 %1.55 %0.75 %0.27 %2.38 %0.20 %
Interest rate spread2.14 %2.26 %2.47 %2.60 %2.42 %2.20 %2.33 %
Benefit from use of noninterest-bearing sources (b)0.65 %0.58 %0.45 %0.22 %0.08 %0.61 %0.06 %
Net interest margin2.79 %2.84 %2.92 %2.82 %2.50 %2.81 %2.39 %
(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 June 30, 2023, March 31, 2023, December 31, 2022, September 30, 2022 and June 30, 2022 were $37 million, $38 million, $36 million, $29 million and $25 million, respectively. The taxable-equivalent adjustments to net interest income for the six months ended June 30, 2023 and June 30, 2022 were $75 million and $47 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)
June 30March 31December 31September 30June 30
In millions20232023202220222022
Commercial
Commercial and industrial
Manufacturing$30,586 $32,132 $30,845 $28,629 $27,179 
Retail/wholesale trade28,75129,17229,17627,53226,475
Service providers22,27723,18623,54822,04321,184
Financial services21,82322,53421,32021,59019,594
Real estate related (a)17,20017,54817,78017,51316,179
Technology, media & telecommunications11,15811,33811,84511,36616,249
Health care10,18610,53710,64910,42010,153
Transportation and warehousing8,0487,8247,8587,9777,604
Other industries27,60028,72629,19826,74327,214
Total commercial and industrial177,629 182,997 182,219 173,813 171,831 
Commercial real estate35,928 35,991 36,316 35,592 34,452 
Equipment lease financing6,400 6,424 6,514 6,192 6,240 
Total commercial219,957225,412225,049215,597212,523
Consumer
Residential real estate46,834 46,067 45,889 45,057 43,717 
Home equity26,200 26,203 25,983 25,367 24,693 
Automobile15,065 14,923 14,836 15,025 15,323 
Credit card7,092 6,961 7,069 6,774 6,650 
Education2,058 2,131 2,173 2,287 2,332 
Other consumer4,555 4,778 5,026 5,293 5,562 
Total consumer101,804 101,063 100,976 99,803 98,277 
Total loans$321,761 $326,475 $326,025 $315,400 $310,800 
(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 endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
Dollars in millions2023202320222022202220232022
Allowance for loan and lease losses
Beginning balance$4,741 $4,741 $4,581 $4,462 $4,558 $4,741 $4,868 
Adoption of ASU 2022-02 (a) (35)(35)
Beginning balance, adjusted4,741 4,706 4,581 4,462 4,558 4,706 4,868 
Gross charge-offs:
Commercial and industrial(45)(104)(121)(65)(30)(149)(71)
Commercial real estate(87)(12)(22)(7)(5)(99)(15)
Equipment lease financing(3)(4)(2)(1)(2)(7)(3)
Residential real estate(2)(3)(2)(2) (5)(7)
Home equity(5)(6)(6)(3)(2)(11)(6)
Automobile(28)(33)(34)(32)(34)(61)(86)
Credit card(80)(74)(62)(59)(67)(154)(135)
Education(5)(4)(4)(4)(4)(9)(8)
Other consumer(38)(42)(64)(49)(51)(80)(115)
Total gross charge-offs(293)(282)(317)(222)(195)(575)(446)
Recoveries:
Commercial and industrial33 20 33 23 15 53 45 
Commercial real estate 
Equipment lease financing
Residential real estate11 
Home equity13 11 13 19 18 24 39 
Automobile27 24 24 30 39 51 70 
Credit card11 11 12 19 22 31 
Education
Other consumer11 12 17 19 
Total recoveries99 87 93 103 112 186 226 
Net (charge-offs) / recoveries:
Commercial and industrial(12)(84)(88)(42)(15)(96)(26)
Commercial real estate(87)(10)(20)(6)(4)(97)(13)
Equipment lease financing(1)(1)(1)
Residential real estate
Home equity16 16 13 33 
Automobile(1)(9)(10)(2)(10)(16)
Credit card(69)(63)(54)(47)(48)(132)(104)
Education(3)(2)(3)(3)(2)(5)(5)
Other consumer(32)(31)(55)(37)(42)(63)(96)
Total net (charge-offs) (194)(195)(224)(119)(83)(389)(220)
Provision for (recapture of) credit losses (b)189 229 380 241 (10)418 (182)
Other(3)(3)(4)
Ending balance$4,737 $4,741 $4,741 $4,581 $4,462 $4,737 $4,462 
Supplemental Information
Net charge-offs
Commercial net charge-offs$(99)$(95)$(109)$(48)$(18)$(194)$(36)
Consumer net charge-offs(95)(100)(115)(71)(65)(195)(184)
Total net charge-offs $(194)$(195)$(224)$(119)$(83)$(389)$(220)
Net charge-offs to average loans (annualized)0.24 %0.24 %0.28 %0.15 %0.11 %0.24 %0.15 %
Commercial0.18 %0.17 %0.20 %0.09 %0.03 %0.17 %0.04 %
Consumer0.38 %0.40 %0.45 %0.28 %0.27 %0.39 %0.39 %
(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. Our first quarter 2023 Form 10-Q included, and our second 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 endedSix months ended
June 30March 31December 31September 30June 30June 30June 30
In millions2023202320222022202220232022
Provision for (recapture of) credit losses
Loans and leases$189 $229 $380 $241 $(10)$418 $(182)
Unfunded lending related commitments(9)(22)12 42 (31)19 
Investment securities  (1)10 (1)
Other financial assets(34)29 (4)(5)(13)
Total provision for (recapture of) credit losses$146 $235 $408 $241 $36 $381 $(172)


Table 8: Allowance for Credit Losses by Loan Class (a)
June 30, 2023March 31, 2023June 30, 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$1,836 $177,629 1.03 %$1,771 $182,997 0.97 %$1,853 $171,831 1.08 %
Commercial real estate1,206 35,928 3.36 %1,171 35,991 3.25 %993 34,452 2.88 %
Equipment lease financing100 6,400 1.56 %104 6,424 1.62 %91 6,240 1.46 %
Total commercial3,142 219,957 1.43 %3,046 225,412 1.35 %2,937 212,523 1.38 %
Consumer
Residential real estate72 46,834 0.15 %95 46,067 0.21 %36 43,717 0.08 %
Home equity294 26,200 1.12 %316 26,203 1.21 %190 24,693 0.77 %
Automobile188 15,065 1.25 %199 14,923 1.33 %254 15,323 1.66 %
Credit card765 7,092 10.79 %782 6,961 11.23 %715 6,650 10.75 %
Education61 2,058 2.96 %64 2,131 3.00 %63 2,332 2.70 %
Other consumer215 4,555 4.72 %239 4,778 5.00 %267 5,562 4.80 %
Total consumer1,595 101,804 1.57 %1,695 101,063 1.68 %1,525 98,277 1.55 %
Total
4,737 $321,761 1.47 %4,741 $326,475 1.45 %4,462 $310,800 1.44 %
Allowance for unfunded lending related commitments
663 672 681 
Allowance for credit losses
$5,400 $5,413 $5,143 
Supplemental Information
Allowance for credit losses to total loans
1.68 %1.66 %1.65 %
Commercial1.68 %1.60 %1.68 %
Consumer1.67 %1.79 %1.60 %
(a)    Excludes allowances for investment securities and other financial assets, which together totaled $171 million, $205 million and $163 million at June 30, 2023, March 31, 2023 and June 30, 2022, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 8
Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type
June 30March 31December 31September 30June 30
Dollars in millions20232023202220222022
Nonperforming loans (a)
Commercial
Commercial and industrial
Service providers$114 $128 $174 $223 $151 
Health care60 57 50 45 54 
Technology, media & telecommunications55 22 20 20 21 
Manufacturing50 105 85 88 101 
Real estate related (b)42 43 50 47 59 
Retail/wholesale trade41 82 151 158 87 
Transportation and warehousing33 24 27 29 30 
Other industries75 87 106 138 146 
Total commercial and industrial470 548 663 748 649 
Commercial real estate350 337 189 148 161 
Equipment lease financing
Total commercial827 891 858 903 815 
Consumer (c)
Residential real estate 429 432 424 429 457 
Home equity506 523 526 530 556 
Automobile133 145 155 167 175 
Credit card10 
Other consumer10 14 33 37 
Total consumer1,086 1,119 1,127 1,165 1,231 
Total nonperforming loans (d)1,913 2,010 1,985 2,068 2,046 
OREO and foreclosed assets36 38 34 33 29 
Total nonperforming assets$1,949 $2,048 $2,019 $2,101 $2,075 
Nonperforming loans to total loans0.59 %0.62 %0.61 %0.66 %0.66 %
Nonperforming assets to total loans, OREO and foreclosed assets0.61 %0.63 %0.62 %0.67 %0.67 %
Nonperforming assets to total assets0.35 %0.36 %0.36 %0.38 %0.38 %
Allowance for loan and lease losses to nonperforming loans 248 %236 %239 %222 %218 %
(a)In connection with the adoption of ASU 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, nonperforming loan amounts after January 1, 2023 include certain loans whose terms were modified as a result of a borrower’s financial difficulty. Prior year amounts included nonperforming TDRs, for which accounting guidance was eliminated effective January 1, 2023. Our first quarter 2023 Form 10-Q included, and our second 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
April 1, 2023 -January 1, 2023 -October 1, 2022 -July 1, 2022 -April 1, 2022 -
In millionsJune 30, 2023March 31, 2023December 31, 2022September 30, 2022June 30, 2022
Beginning balance$2,048 $2,019 $2,101 $2,075 $2,324 
New nonperforming assets410 452 346 438 393 
Charge-offs and valuation adjustments(135)(122)(174)(79)(55)
Principal activity, including paydowns and payoffs(297)(172)(139)(182)(273)