Exhibit 99.2

pncbanklogoa18.jpg



THE PNC FINANCIAL SERVICES GROUP, INC.

FINANCIAL SUPPLEMENT
THIRD QUARTER 2023
(Unaudited)




THE PNC FINANCIAL SERVICES GROUP, INC.
FINANCIAL SUPPLEMENT
THIRD 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 October 13, 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 Third 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 endedNine months ended
September 30June 30March 31December 31September 30September 30September 30
In millions, except per share data2023202320232022202220232022
Interest Income
Loans$4,643 $4,523 $4,258 $3,860 $3,138 $13,424 $7,935 
Investment securities892 883 885 836 715 2,660 1,890 
Other668 538 516 413 279 1,722 502 
Total interest income6,203 5,944 5,659 5,109 4,132 17,806 10,327 
Interest Expense
Deposits1,792 1,531 1,291 812 340 4,614 455 
Borrowed funds993 903 783 613 317 2,679 542 
Total interest expense2,785 2,434 2,074 1,425 657 7,293 997 
Net interest income3,418 3,510 3,585 3,684 3,475 10,513 9,330 
Noninterest Income
Asset management and brokerage348 348 356 345 357 1,052 1,099 
Capital markets and advisory168 213 262 336 299 643 960 
Card and cash management689 697 659 671 671 2,045 1,962 
Lending and deposit services315 298 306 296 287 919 838 
Residential and commercial mortgage201 98 177 184 143 476 463 
Other (a) (b)94 129 258 247 317 481 705 
Total noninterest income1,815 1,783 2,018 2,079 2,074 5,616 6,027 
Total revenue5,233 5,293 5,603 5,763 5,549 16,129 15,357 
Provision For Credit Losses129 146 235 408 241 510 69 
Noninterest Expense
Personnel1,773 1,846 1,826 1,943 1,805 5,445 5,301 
Occupancy244 244 251 247 241 739 745 
Equipment347 349 350 369 344 1,046 1,026 
Marketing93 109 74 106 93 276 249 
Other788 824 820 809 797 2,432 2,375 
Total noninterest expense3,245 3,372 3,321 3,474 3,280 9,938 9,696 
Income before income taxes and noncontrolling interests1,859 1,775 2,047 1,881 2,028 5,681 5,592 
Income taxes289 275 353 333 388 917 1,027 
Net income1,570 1,500 1,694 1,548 1,640 4,764 4,565 
Less: Net income attributable to noncontrolling interests16 17 17 20 16 50 52 
Preferred stock dividends (c)104 127 68 120 65 299 181 
Preferred stock discount accretion and
    redemptions
Net income attributable to common shareholders$1,448 $1,354 $1,607 $1,407 $1,558 $4,409 $4,328 
Earnings Per Common Share
Basic$3.60 $3.36 $3.98 $3.47 $3.78 $10.95 $10.39 
Diluted$3.60 $3.36 $3.98 $3.47 $3.78 $10.94 $10.39 
Average Common Shares Outstanding
Basic400 401 401 404 410 401 414 
Diluted400 401 402 404 410 401 415 
Efficiency62 %64 %59 %60 %59 %62 %63 %
Noninterest income to total revenue35 %34 %36 %36 %37 %35 %39 %
Effective tax rate (d)15.5 %15.5 %17.2 %17.7 %19.1 %16.1 %18.4 %
(a)Includes net gains (losses) on sale of securities of less than $1 million, $(2) million, less than $1 million, $(3) million and less than $1 million for the quarters ended September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022 and September 30, 2022, respectively, and $(2) million and $(4) million for the nine months ended September 30, 2023 and September 30, 2022, respectively.
(b)Includes Visa Class B derivative fair value adjustments of $(51) million, $(83) million, $(45) million, $(41) million and $13 million for the quarters ended September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022 and September 30, 2022, respectively, and $(179) million and $1 million for the nine months ended September 30, 2023 and September 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)
September 30June 30March 31December 31September 30
In millions, except par value20232023202320222022
Assets
Cash and due from banks$5,300 $6,191 $5,940 $7,043 $6,548 
Interest-earning deposits with banks (a)41,484 38,259 33,865 27,320 40,278 
Loans held for sale (b)923 835 998 1,010 1,126 
Investment securities – available for sale 40,590 41,787 43,220 44,159 45,798 
Investment securities – held to maturity91,797 93,874 95,019 95,175 90,653 
Loans (b)318,416 321,761 326,475 326,025 315,400 
Allowance for loan and lease losses (4,767)(4,737)(4,741)(4,741)(4,581)
Net loans313,649 317,024 321,734 321,284 310,819 
Equity investments8,046 8,015 8,323 8,437 8,130 
Mortgage servicing rights4,006 3,455 3,293 3,423 3,206 
Goodwill10,987 10,987 10,987 10,987 10,987 
Other (b) 40,552 37,780 38,398 38,425 41,932 
Total assets$557,334 $558,207 $561,777 $557,263 $559,477 
Liabilities
Deposits
Noninterest-bearing$105,672 $110,527 $118,014 $124,486 $138,423 
Interest-bearing317,937 316,962 318,819 311,796 299,771 
Total deposits423,609 427,489 436,833 436,282 438,194 
Borrowed funds
Federal Home Loan Bank borrowings36,000 34,000 32,020 32,075 30,075 
Senior debt22,407 22,005 19,622 16,657 13,357 
Subordinated debt4,728 5,548 5,630 6,307 7,286 
Other (b)3,032 3,831 3,550 3,674 3,915 
Total borrowed funds66,167 65,384 60,822 58,713 54,633 
Allowance for unfunded lending related commitments 640 663 672 694 682 
Accrued expenses and other liabilities (b)17,437 15,325 14,376 15,762 19,245 
Total liabilities507,853 508,861 512,703 511,451 512,754 
Equity
Preferred stock (c)
Common stock - $5 par value
Authorized 800,000,000 shares, issued 543,012,047, 543,012,047, 542,874,855, 542,874,829 and 542,768,817 shares2,715 2,715 2,714 2,714 2,714 
Capital surplus19,971 19,934 19,864 18,376 19,810 
Retained earnings56,170 55,346 54,598 53,572 52,777 
Accumulated other comprehensive income (loss)(10,261)(9,525)(9,108)(10,172)(10,486)
Common stock held in treasury at cost: 144,671,252, 144,763,739, 143,781,812, 142,298,689 and 138,582,781 shares(19,141)(19,150)(19,024)(18,716)(18,127)
Total shareholders’ equity49,454 49,320 49,044 45,774 46,688 
Noncontrolling interests27 26 30 38 35 
Total equity49,481 49,346 49,074 45,812 46,723 
Total liabilities and equity$557,334 $558,207 $561,777 $557,263 $559,477 
(a)Amounts include balances held with the Federal Reserve Bank of $41.1 billion, $37.8 billion, $32.5 billion, $26.9 billion and $39.8 billion as of September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022 and September 30, 2022, respectively.
(b)Amounts include assets and liabilities for which PNC has elected the fair value option. Our second quarter 2023 Form 10-Q included, and our third 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 endedNine months ended
September 30June 30March 31December 31September 30September 30September 30
In millions2023202320232022202220232022
Assets
Interest-earning assets:
Investment securities
Securities available for sale
Residential mortgage-backed
Agency$31,020 $31,180 $31,850 $31,818 $32,500 $31,347 $45,633 
Non-agency627 663689714748659885 
Commercial mortgage-backed2,880 2,9483,1023,3773,4892,9764,354 
Asset-backed9895752181051105972,885 
U.S. Treasury and government agencies7,9968,2319,08810,34511,7898,43425,448 
Other2,9312,9973,2633,3703,5063,0624,189 
Total securities available for sale46,44346,59448,21049,72952,14247,07583,394
Securities held to maturity
Residential mortgage-backed44,112 45,033 45,616 44,184 39,329 44,914 24,317 
Commercial mortgage-backed2,346 2,396 2,453 2,323 2,069 2,398 1,089 
Asset-backed6,463 6,712 7,026 6,995 6,5716,7323,587 
U.S. Treasury and government agencies37,04336,912 36,74836,441 34,27936,90221,243 
Other3,2563,3913,3383,2182,6003,3291,585 
Total securities held to maturity93,22094,44495,18193,16184,84894,27551,821
Total investment securities139,663141,038143,391142,890136,990141,350135,215
Loans
Commercial and industrial175,206180,878182,017179,111172,788179,342165,142 
Commercial real estate36,03235,93836,11036,18135,14036,02634,541 
Equipment lease financing6,4416,3646,4526,2756,2026,4196,168 
Consumer54,74455,07055,02054,80954,56354,94454,692 
Residential real estate47,08146,28445,92745,49944,33346,43542,378 
Total loans319,504324,534325,526321,875313,026323,166302,921
Interest-earning deposits with banks (c)38,35231,43334,05430,39531,89234,62944,641 
Other interest-earning assets8,7779,2158,8069,6909,5608,9339,637 
Total interest-earning assets506,296506,220511,777504,850491,468508,078492,414
Noninterest-earning assets48,66749,28750,55552,35655,62949,49656,029 
Total assets$554,963 $555,507 $562,332 $557,206 $547,097 $557,574 $548,443 
Liabilities and Equity
Interest-bearing liabilities:
Interest-bearing deposits
Money market$64,310 $63,691 $65,753 $63,944 $60,934 $64,579 $60,510 
Demand123,730124,111124,376122,501120,358124,070117,485 
Savings100,643102,415104,408102,020106,761102,475108,112 
Time deposits25,87222,34220,51912,98210,02022,93112,125 
Total interest-bearing deposits314,555312,559315,056301,447298,073314,055298,232
Borrowed funds
Federal Home Loan Bank borrowings34,10933,75232,056 30,64016,70833,3137,957 
Senior debt23,47920,91019,67916,31214,59721,37016,249 
Subordinated debt5,2935,8506,1006,9337,6145,7457,131 
Other4,5845,1805,1335,3465,3424,9645,457 
Total borrowed funds67,46565,69262,96859,23144,26165,39236,794
Total interest-bearing liabilities382,020378,251378,024360,678342,334379,447335,026
Noninterest-bearing liabilities and equity:
Noninterest-bearing deposits107,981113,178121,176133,461141,167114,063148,062 
Accrued expenses and other liabilities15,62915,06316,01417,46115,69915,56716,061 
Equity49,33349,01547,11845,60647,89748,49749,294 
Total liabilities and equity$554,963 $555,507 $562,332 $557,206 $547,097 $557,574 $548,443 
(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 $37.9 billion, $30.6 billion, $33.5 billion, $30.0 billion and $31.5 billion for the three months ended September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022 and September 30, 2022 and $34.0 billion and $44.2 billion for the nine months ended September 30, 2023 and September 30,2022, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 4
Table 4: Details of Net Interest Margin (Unaudited)
Three months endedNine months ended
September 30June 30March 31December 31September 30September 30September 30
2023202320232022202220232022
Average yields/rates (a)
Yield on interest-earning assets
Investment securities
Securities available for sale
Residential mortgage-backed
Agency2.73 %2.67 %2.67 %2.54 %2.36 %2.69 %2.01 %
Non-agency10.42 %9.39 %8.53 %7.85 %7.62 %9.42 %7.57 %
Commercial mortgage-backed3.41 %2.84 %2.62 %2.75 %2.70 %2.95 %2.49 %
Asset-backed6.30 %6.56 %7.04 %11.98 %6.31 %6.44 %1.56 %
U.S. Treasury and government agencies2.28 %2.20 %2.05 %1.96 %1.73 %2.17 %1.36 %
Other2.58 %2.55 %2.47 %2.39 %2.47 %2.53 %2.61 %
Total securities available for sale2.87 %2.73 %2.64 %2.52 %2.33 %2.75 %1.91 %
Securities held to maturity
Residential mortgage-backed2.72 %2.72 %2.74 %2.60 %2.30 %2.73 %2.14 %
Commercial mortgage-backed5.55 %5.35 %4.95 %4.57 %3.50 %5.28 %3.04 %
Asset-backed4.36 %4.10 %3.97 %3.44 %2.58 %4.14 %2.31 %
U.S. Treasury and government agencies1.34 %1.34 %1.33 %1.30 %1.19 %1.34 %1.14 %
Other4.57 %4.65 %4.62 %4.47 %4.10 %4.61 %4.12 %
Total securities held to maturity2.42 %2.41 %2.41 %2.27 %1.96 %2.41 %1.82 %
Total investment securities2.57 %2.52 %2.49 %2.36 %2.10 %2.52 %1.88 %
Loans
Commercial and industrial5.86 %5.70 %5.34 %4.70 %3.69 %5.64 %3.14 %
Commercial real estate6.59 %6.37 %6.02 %5.28 %4.27 %6.33 %3.44 %
Equipment lease financing4.72 %4.51 %4.28 %4.18 %3.85 %4.51 %3.73 %
Consumer6.89 %6.57 %6.34 %5.88 %5.32 %6.60 %4.89 %
Residential real estate3.52 %3.41 %3.35 %3.28 %3.21 %3.43 %3.12 %
Total loans5.75 %5.57 %5.29 %4.75 %3.98 %5.54 %3.50 %
Interest-earning deposits with banks5.44 %5.10 %4.58 %3.76 %2.32 %5.05 %0.87 %
Other interest-earning assets6.66 %5.96 %5.75 %5.20 %3.94 %6.12 %2.92 %
Total yield on interest-earning assets4.87 %4.70 %4.46 %4.02 %3.35 %4.68 %2.80 %
Rate on interest-bearing liabilities
Interest-bearing deposits
Money market3.10 %2.79 %2.40 %1.75 %0.85 %2.76 %0.36 %
Demand2.15 %1.89 %1.58 %1.14 %0.59 %1.87 %0.26 %
Savings1.49 %1.26 %1.03 %0.50 %0.09 %1.26 %0.06 %
Time deposits3.67 %3.26 %3.00 %1.45 %0.26 %3.34 %0.18 %
Total interest-bearing deposits2.26 %1.96 %1.66 %1.07 %0.45 %1.96 %0.20 %
Borrowed funds
Federal Home Loan Bank borrowings5.55 %5.28 %4.80 %3.92 %2.60 %5.22 %2.20 %
Senior debt6.17 %5.91 %5.39 %4.30 %2.96 %5.85 %1.80 %
Subordinated debt6.52 %6.19 %5.69 %4.79 %3.43 %6.12 %2.30 %
Other
4.49 %3.79 %3.70 %3.24 %2.20 %3.98 %1.54 %
Total borrowed funds5.77 %5.44 %4.98 %4.07 %2.81 %5.41 %1.95 %
Total rate on interest-bearing liabilities2.86 %2.56 %2.20 %1.55 %0.75 %2.54 %0.39 %
Interest rate spread2.01 %2.14 %2.26 %2.47 %2.60 %2.14 %2.41 %
Benefit from use of noninterest-bearing sources (b)0.70 %0.65 %0.58 %0.45 %0.22 %0.64 %0.13 %
Net interest margin2.71 %2.79 %2.84 %2.92 %2.82 %2.78 %2.54 %
(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 September 30, 2023, June 30, 2023, March 31, 2023, December 31, 2022 and September 30, 2022 were $36 million, $37 million, $38 million, $36 million and $29 million, respectively. The taxable-equivalent adjustments to net interest income for the nine months ended September 30, 2023 and September 30, 2022 were $111 million and $76 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)
September 30June 30March 31December 31September 30
In millions20232023202320222022
Commercial
Commercial and industrial
Manufacturing$29,163 $30,586 $32,132 $30,845 $28,629 
Retail/wholesale trade28,28428,75129,17229,17627,532
Financial services22,77021,82322,53421,32021,590
Service providers21,68022,27723,18623,54822,043
Real estate related (a)16,18217,20017,54817,78017,513
Technology, media & telecommunications10,98911,15811,33811,84511,366
Health care10,09210,18610,53710,64910,420
Transportation and warehousing7,8918,0487,8247,8587,977
Other industries27,11227,60028,72629,19826,743
Total commercial and industrial174,163 177,629 182,997 182,219 173,813 
Commercial real estate35,776 35,928 35,991 36,316 35,592 
Equipment lease financing6,493 6,400 6,424 6,514 6,192 
Total commercial216,432219,957225,412225,049215,597
Consumer
Residential real estate47,359 46,834 46,067 45,889 45,057 
Home equity26,159 26,200 26,203 25,983 25,367 
Automobile14,940 15,065 14,923 14,836 15,025 
Credit card7,060 7,092 6,961 7,069 6,774 
Education2,020 2,058 2,131 2,173 2,287 
Other consumer4,446 4,555 4,778 5,026 5,293 
Total consumer101,984 101,804 101,063 100,976 99,803 
Total loans$318,416 $321,761 $326,475 $326,025 $315,400 
(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 endedNine months ended
September 30June 30March 31December 31September 30September 30September 30
Dollars in millions2023202320232022202220232022
Allowance for loan and lease losses
Beginning balance$4,737 $4,741 $4,741 $4,581 $4,462 $4,741 $4,868 
Adoption of ASU 2022-02 (a)  (35)(35)
Beginning balance, adjusted4,737 4,741 4,706 4,581 4,462 4,706 4,868 
Gross charge-offs:
Commercial and industrial(43)(45)(104)(121)(65)(192)(136)
Commercial real estate(25)(87)(12)(22)(7)(124)(22)
Equipment lease financing(4)(3)(4)(2)(1)(11)(4)
Residential real estate(1)(2)(3)(2)(2)(6)(9)
Home equity(4)(5)(6)(6)(3)(15)(9)
Automobile(30)(28)(33)(34)(32)(91)(118)
Credit card(78)(80)(74)(62)(59)(232)(194)
Education(4)(5)(4)(4)(4)(13)(12)
Other consumer(44)(38)(42)(64)(49)(124)(164)
Total gross charge-offs(233)(293)(282)(317)(222)(808)(668)
Recoveries:
Commercial and industrial45 33 20 33 23 98 68 
Commercial real estate 
Equipment lease financing
Residential real estate10 15 
Home equity12 13 11 13 19 36 58 
Automobile26 27 24 24 30 77 100 
Credit card10 11 11 12 32 43 
Education
Other consumer11 11 12 28 31 
Total recoveries112 99 87 93 103 298 329 
Net (charge-offs) / recoveries:
Commercial and industrial(12)(84)(88)(42)(94)(68)
Commercial real estate(23)(87)(10)(20)(6)(120)(19)
Equipment lease financing(2)(1)(1) (3)
Residential real estate
Home equity16 21 49 
Automobile(4)(1)(9)(10)(2)(14)(18)
Credit card(68)(69)(63)(54)(47)(200)(151)
Education(3)(3)(2)(3)(3)(8)(8)
Other consumer(33)(32)(31)(55)(37)(96)(133)
Total net (charge-offs) (121)(194)(195)(224)(119)(510)(339)
Provision for credit losses (b)153 189 229 380 241 571 59 
Other(2)(3) (7)
Ending balance$4,767 $4,737 $4,741 $4,741 $4,581 $4,767 $4,581 
Supplemental Information
Net charge-offs
Commercial net charge-offs$(23)$(99)$(95)$(109)$(48)$(217)$(84)
Consumer net charge-offs(98)(95)(100)(115)(71)(293)(255)
Total net charge-offs $(121)$(194)$(195)$(224)$(119)$(510)$(339)
Net charge-offs to average loans (annualized)0.15 %0.24 %0.24 %0.28 %0.15 %0.21 %0.15 %
Commercial0.04 %0.18 %0.17 %0.20 %0.09 %0.13 %0.05 %
Consumer0.38 %0.38 %0.40 %0.45 %0.28 %0.39 %0.35 %
(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 second quarter 2023 Form 10-Q included, and our third 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 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 Credit Losses
Three months endedNine months ended
September 30June 30March 31December 31September 30September 30September 30
In millions2023202320232022202220232022
Provision for credit losses
Loans and leases$153 $189 $229 $380 $241 $571 $59 
Unfunded lending related commitments(23)(9)(22)12 (54)20 
Investment securities (10) (1)10 (11)
Other financial assets(34)29 (4)(17)
Total provision for credit losses$129 $146 $235 $408 $241 $510 $69 


Table 8: Allowance for Credit Losses by Loan Class (a)
September 30, 2023June 30, 2023September 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$1,843 $174,163 1.06 %$1,836 $177,629 1.03 %$1,974 $173,813 1.14 %
Commercial real estate1,270 35,776 3.55 %1,206 35,928 3.36 %994 35,592 2.79 %
Equipment lease financing109 6,493 1.68 %100 6,400 1.56 %93 6,192 1.50 %
Total commercial3,222 216,432 1.49 %3,142 219,957 1.43 %3,061 215,597 1.42 %
Consumer
Residential real estate62 47,359 0.13 %72 46,834 0.15 %50 45,057 0.11 %
Home equity288 26,159 1.10 %294 26,200 1.12 %215 25,367 0.85 %
Automobile169 14,940 1.13 %188 15,065 1.25 %214 15,025 1.42 %
Credit card762 7,060 10.79 %765 7,092 10.79 %732 6,774 10.81 %
Education56 2,020 2.77 %61 2,058 2.96 %64 2,287 2.80 %
Other consumer208 4,446 4.68 %215 4,555 4.72 %245 5,293 4.63 %
Total consumer1,545 101,984 1.51 %1,595 101,804 1.57 %1,520 99,803 1.52 %
Total
4,767 $318,416 1.50 %4,737 $321,761 1.47 %4,581 $315,400 1.45 %
Allowance for unfunded lending related commitments
640 663 682 
Allowance for credit losses
$5,407 $5,400 $5,263 
Supplemental Information
Allowance for credit losses to total loans
1.70 %1.68 %1.67 %
Commercial1.73 %1.68 %1.70 %
Consumer1.62 %1.67 %1.60 %
(a)    Excludes allowances for investment securities and other financial assets, which together totaled $131 million, $171 million and $162 million at September 30, 2023, June 30, 2023 and September 30, 2022, respectively.


THE PNC FINANCIAL SERVICES GROUP, INC.

Page 8
Details of Nonperforming Assets (Unaudited)

Table 9: Nonperforming Assets by Type
September 30June 30March 31December 31September 30
Dollars in millions20232023202320222022
Nonperforming loans (a)
Commercial
Commercial and industrial
Service providers$162 $114 $128 $174 $223 
Technology, media & telecommunications51 55 22 20 20 
Transportation and warehousing44 33 24 27 29 
Retail/wholesale trade41 41 82 151 158 
Health care37 60 57 50 45 
Manufacturing34 50 105 85 88 
Real estate related (b)31 42 43 50 47 
Other industries58 75 87 106 138 
Total commercial and industrial458 470 548 663 748 
Commercial real estate723 350 337 189 148 
Equipment lease financing30 
Total commercial1,211 827 891 858 903 
Consumer (c)
Residential real estate 330 429 432 424 429 
Home equity446 506 523 526 530 
Automobile114 133 145 155 167 
Credit card11 10 
Other consumer11 10 14 33 
Total consumer912 1,086 1,119 1,127 1,165 
Total nonperforming loans (d)2,123 1,913 2,010 1,985 2,068 
OREO and foreclosed assets35 36 38 34 33 
Total nonperforming assets$2,158 $1,949 $2,048 $2,019 $2,101 
Nonperforming loans to total loans0.67 %0.59 %0.62 %0.61 %0.66 %
Nonperforming assets to total loans, OREO and foreclosed assets0.68 %0.61 %0.63 %0.62 %0.67 %
Nonperforming assets to total assets0.39 %0.35 %0.36 %0.36 %0.38 %
Allowance for loan and lease losses to nonperforming loans 225 %248 %236 %239 %222 %
(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 second quarter 2023 Form 10-Q included, and our third 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
July 1, 2023 -April 1, 2023 -January 1, 2023 -October 1, 2022 -July 1, 2022 -
In millionsSeptember 30, 2023June 30, 2023March 31, 2023December 31, 2022September 30, 2022
Beginning balance$1,949 $2,048 $2,019 $2,101 $2,075 
New nonperforming assets641 410 452 346 438 
Charge-offs and valuation adjustments(91)(135)(122)(174)(79)
Principal activity, including paydowns and payoffs(112)(297)(172)