The PNC Financial Services Group, Inc.
Second Quarter 2007
Earnings Conference Call
July 19, 2007
Exhibit 99.2

This presentation contains forward-looking statements regarding our outlook or expectations relating to PNC’s future business, operations, financial
condition, financial performance and asset quality.  Forward-looking statements are necessarily subject to numerous assumptions, risks and
uncertainties, which change over time.
The forward-looking statements in this presentation are qualified by the factors affecting forward-looking statements identified in the more detailed
Cautionary
Statement
included
in
the
Appendix,
which
is
included
in
the
version
of
the
presentation
materials
posted
on
our
corporate
website
at
www.pnc.com/investorevents.
We
provide
greater
detail
regarding
these
factors
in
our
2006
Form
10-K,
including
in
the
Risk
Factors
and
Risk
Management
sections,
and
in
our
first
quarter
2007
Form
10-Q
and
other
SEC
reports
(accessible
on
the
SEC’s
website
at
www.sec.gov
and
on
or
through our corporate website).
Future events or circumstances may change our outlook or expectations and may also affect the nature of the assumptions, risks and uncertainties to
which our forward-looking statements are subject.  The forward-looking statements in this presentation speak only as of the date of this presentation. 
We do not assume any duty and do not undertake to update those statements.
In
this
presentation,
we
will
sometimes
refer
to
adjusted
results
to
help
illustrate
(1)
the
impact
of
BlackRock
deconsolidation
near
the
end
of
third
quarter
2006
and
the
application
of
the
equity
method
of
accounting
for
our
equity
investment
in
BlackRock
and
(2)
the
impact
of
certain
specified
items,
including
2006
BlackRock/MLIM
transaction
gain,
2006
cost
of
securities
and
mortgage
portfolio
repositionings,
2006
and
2007
BlackRock/MLIM
transaction
and
Mercantile
Bankshares
acquisition
integration
costs,
and
2006
and
2007
gains/losses
related
to
our
BlackRock
LTIP shares obligation. We have provided these adjusted amounts and reconciliations so that investors, analysts, regulators and others will be better
able to evaluate the impact of these items on our results for the periods presented, in addition to providing a basis of comparability for the impact of
the BlackRock deconsolidation given the magnitude of the impact of deconsolidation on various components of our income statement.  We believe
that information as adjusted for the impact of the specified items may be useful due to the extent to which these items are not indicative of our
ongoing
operations
as
the
result
of
our
management
activities
on
those
operations.
While
we
have
not
provided
other
adjustments
for
the
periods
discussed, this is not intended to imply that there could not have been other similar types of adjustments, but any such adjustments would not have
been similar in magnitude to those shown.  In certain discussions, we also provide revenue information on a taxable-equivalent basis by increasing
the interest income earned on tax-exempt assets to make it fully equivalent to interest income earned on taxable investments.  We believe this
adjustment may be useful when comparing yields and margins for all earning assets.
This presentation may also include a discussion of other non-GAAP financial measures, which, to the extent not so qualified therein or in the
Appendix,
is
qualified
by
GAAP
reconciliation
information
available
on
our
corporate
website
at
www.pnc.com
under
“About
PNC
–
Investor
Relations.”
Cautionary Statement Regarding Forward-Looking
Information and Adjusted Information

Primary businesses met or exceeded expectations
Reported earnings of $1.22 per diluted share
First half 2007 earnings up 20% versus first half
2006
Asset quality remained excellent
Mercantile integration on track
2007 Second Quarter Highlights
Executing on Our Strategies

Key Take-Aways
Performance Summary
Adjusted earnings* of $1.25 per diluted share
Strong core performance by primary businesses partially
offset by weak private equity and trading; cross-border
lease impact
Continued to create positive operating leverage
Well positioned from a risk perspective
Continuation of share repurchase program in 2007
*Adjusted earnings exclude integration costs and are reconciled to GAAP earnings in the Appendix.

10%
30%
13%
15%
Growing Higher Quality Revenue
Streams
Noninterest
Income
$1.75 Billion
61%
Six months ended June 30, As Adjusted*
Deposit NII
$653 Million
23%
Loan NII
$465 Million
16%
Noninterest
Income
$1.9 Billion
58%
Deposit NII
$849 Million
26%
Loan NII
$526 Million
16%
Total Revenue Growth
*  Adjusted amounts are reconciled to GAAP in the Appendix
**Unadjusted
growth:
total
revenue
(6%),
noninterest
income
(19%),
deposit
net
interest
income
30%,
loan
net
interest
income
11%
% Change vs
2006**
2007
2006
Revenue Mix

$0
$1
$2
$3
$4
$5
$6
$7
2004
2005
2006
Revenue
9%
Creating Positive Operating Leverage
Growing Revenues Faster Than Expenses
$ billions
Compound Annual
Growth Rate
(2004 –
2006)
Adjusted Revenue
(Taxable-equivalent) -
$5.6 billion, $6.4 billion, $8.6 billion as reported for 2004, 2005, 2006, respectively
Adjusted Noninterest
Expense -
$3.7 billion, $4.3 billion, $4.4 billion as reported for 2004, 2005, 2006, respectively
Adjusted Net Income -
$1.2 billion, $1.3 billion, $2.6 billion as reported for 2004, 2005, 2006, respectively
Net Income
12%
$1.2
$1.3
$1.5
Expense
7%
Revenue                +15%   
Expense                  +12%
Net Income            +17%
Trend Continues*
*
As reported: revenue (6%), expense (14%), net income 20%.  Adjusted numbers and taxable-equivalent revenue are
reconciled to GAAP in the Appendix.
Six months ended June 30, as adjusted
2007 vs
2006

Maintaining Moderate Risk Profile
Credit Risk Profile
-
Excellent credit quality
-
Credit decisions driven by risk-adjusted returns
-
Minimal sub-prime exposure
Interest Rate Risk
-
Total return philosophy
-
Sophisticated risk management skills
-
Well-positioned balance sheet

We make statements in this presentation, and we may from time to
time make other statements, regarding our outlook or expectations for earnings, revenues, expenses and/or other
matters regarding or affecting PNC that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act.  Forward-looking statements are typically
identified
by
words
such
as
“believe,”
“expect,”
“anticipate,”
“intend,”
“outlook,”
“estimate,”
“forecast,”
“project”
and
other
similar
words
and
expressions.
Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time.  Forward-looking statements speak only as of the date they are made. 
We
do
not
assume
any
duty
and
do
not
undertake
to
update
our
forward-looking
statements.
Because
forward-looking
statements
are
subject
to
assumptions
and
uncertainties,
actual
results
or
future
events
could
differ,
possibly
materially,
from
those
that
we
anticipated
in
our
forward-looking
statements,
and
future
results
could
differ
materially
from
our
historical
performance.
Our forward-looking statements are subject to the following principal risks and uncertainties.  We provide greater detail regarding some of these factors in our Form 10-K for the year
ended December 31, 2006, including in the Risk Factors and Risk Management sections of that report, and in our first quarter 2007 Form 10-Q and other SEC reports.  Our forward-
looking statements may also be subject to other risks and uncertainties, including those that we may discuss elsewhere in this presentation or in our filings with the SEC, accessible on
the
SEC’s
website
at
www.sec.gov
and
on
or
through
our
corporatewebsite
at
www.pnc.com
under
“About
PNC
–
Investor
Relations
–
Financial
Information.”
•
Our business and operating results are affected by business and economic conditions generally or specifically in the principal markets in which we do business.  We are
affected
by
changes
in
our
customers’
and
counterparties’
financial
performance,
as
well
as
changes
in
customer
preferences
and
behavior,
including
as
a
result
of
changing
business and economic conditions.
•
The value of our assets and liabilities, as well as our overall financial performance, is also affected by changes in interest rates or in valuations in the debt and equity markets. 
Actions by the Federal Reserve and other government agencies, including those that impact money supply and market interest rates, can affect our activities and financial
results.
•
Our operating results are affected by our liability to provide shares of BlackRock common stock to help fund BlackRock long-term incentive plan (“LTIP”) programs, as our LTIP
liability
is
adjusted
quarterly
(“marked-to-market”)
based
on
changes
in
BlackRock’s
common
stock
price
and
the
number
of
remaining
committed
shares,
and
we
recognize
gain
or loss on such shares at such times as shares are transferred for payouts under the LTIP programs.
•
Competition can have an impact on customer acquisition, growth and retention, as well as on our credit spreads and product pricing, which can affect market share, deposits
and revenues.
•
Our
ability
to
implement
our
business
initiatives
and
strategies
could
affect
our
financial
performance
over
the
next
several
years.
•
Our ability to grow successfully through acquisitions is impacted by a number of risks and uncertainties related both to the acquisition transactions themselves and to the
integration of the acquired businesses into PNC after closing.  These uncertainties are present with respect to our pending acquisitions of Sterling Financial Corporation
(“Sterling”)
and
Yardville
National
Bancorp
(“Yardville”),
and
continue
to
be
present
with
respect
to
the
integration
of
Mercantile
Bankshares
Corporation.
•
Legal and regulatory developments could have an impact on our ability to operate our businesses or our financial condition or results of operations or our competitive position or
reputation.
Reputational
impacts,
in
turn,
could
affect
matters
such
as
business
generation
and
retention,
our
ability
to
attract
and
retain
management,
liquidity
and
funding. 
These legal and regulatory developments could include:  (a) the unfavorable resolution of legal proceedings or regulatory and other governmental inquiries;  (b) increased
litigation risk from recent regulatory and other governmental developments;  (c) the results of the regulatory examination process, our failure to satisfy the requirements of
agreements
with
governmental
agencies,
and
regulators’
future
use
of
supervisory
and
enforcement
tools;
(d)
legislative
and
regulatory
reforms,
including
changes
to
laws
and
regulations involving tax, pension, and the protection of confidential customer information;  and (e) changes in accounting policies and principles.
•
Our business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where appropriate, through the
effective use of third-party insurance and capital management techniques.
•
Our ability to anticipate and respond to technological changes can have an impact on our ability to respond to customer needs and to meet competitive demands.
Cautionary Statement Regarding
Forward-Looking Information

•
The adequacy of our intellectual property protection, and the extent of any costs associated with obtaining rights in intellectual property claimed by others, can impact our
business and operating results.
•
Our business and operating results can also be affected by widespread natural disasters, terrorist activities or international hostilities, either as a result of the impact on the
economy and financial and capital markets generally or on us or on our customers, suppliers or other counterparties specifically.
•
Also, risks and uncertainties that could affect the results anticipated in forward-looking statements or from historical performance relating to our equity interest in BlackRock,
Inc.
are
discussed
in
more
detail
in
BlackRock’s
2006
Form
10-K,
including
in
the
Risk
Factors
section,
and
in
BlackRock’s
other
filings
with
the
SEC,
accessible
on
the
SEC’s
website
and
on
or
through
BlackRock’s
website
at
www.blackrock.com.
We grow our business from time to time by acquiring other financial services companies, including the pending Sterling and Yardville acquisitions.  Acquisitions in general present us
with risks other than those presented by the nature of the business acquired.  In particular, acquisitions may be substantially more expensive to complete (including as a result of costs
incurred in connection with the integration of the acquired company) and the anticipated benefits (including anticipated cost savings and strategic gains) may be significantly harder or
take longer to achieve than expected.  In some cases, acquisitions involve our entry into new businesses or new geographic or other markets, and these situations also present risks
resulting
from
our
inexperience
in
these
new
areas.
As
a
regulated
financial
institution,
our
pursuit
of
attractive
acquisition
opportunities
could
be
negatively
impacted
due
to
regulatory
delays
or
other
regulatory
issues.
Regulatory
and/or
legal
issues
related
to
the
pre-acquisition
operations
of
an
acquired
business
may
cause
reputational
harm
to
PNC
following
the
acquisition and integration of the acquired business into ours and may result in additional future costs arising as a result of those issues.  Post-closing acquisition risk continues to apply
to Mercantile as we complete the integration.
Any annualized, proforma, estimated, third party or consensus numbers in this presentation are used for illustrative or comparative purposes only and may not reflect actual results.  Any
consensus
earnings
estimates
are
calculated
based
on
the
earnings
projections
made
by
analysts
who
cover
that
company.
The
analysts’
opinions,
estimates
or
forecasts
(and
therefore the consensus earnings estimates) are theirs alone, are not those of PNC or its management, and may not reflect PNC’s, Yardville’s or other company’s actual or anticipated
results.
Cautionary Statement Regarding
Forward-Looking Information (continued)

The PNC Financial Services Group, Inc. and Sterling Financial Corporation will be filing a proxy
statement/prospectus
and
other
relevant
documents
concerning
the
merger
with
the
United
States
Securities and Exchange Commission (the "SEC"). WE URGE INVESTORS TO READ THE PROXY
STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION
WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE PROXY STATEMENT/PROSPECTUS
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors
will
be
able
to
obtain
these
documents
free
of
charge
at
the
SEC's
web
site
(www.sec.gov).
In
addition, documents filed with the SEC by The PNC Financial Services Group, Inc. will be available free of
charge from Shareholder Relations at (800) 843-2206.  Documents filed with the SEC by Sterling Financial
Corporation will be available free of charge from Sterling Financial Corporation by contacting Shareholder
Relations at (877) 248-6420.
The directors, executive officers, and certain other members of management and employees of Sterling
Financial Corporation are participants in the solicitation of proxies in favor of the merger from the
shareholders of Sterling Financial Corporation.  Information about the directors and executive officers of
Sterling Financial Corporation is included in the proxy statement for its May 8, 2007 annual meeting of
shareholders, which was filed with the SEC on April 2, 2007.  Additional information regarding the
interests of such participants will be included in the proxy statement/prospectus and the other relevant
documents filed with the SEC when they become available.
Additional Information About The PNC/Sterling
Financial Corporation Transaction

The PNC Financial Services Group, Inc. (“PNC”) and Yardville National Bancorp (“Yardville”) have filed with
the United States Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4
that includes a preliminary version of a proxy statement of Yardville that also constitutes a preliminary
prospectus of PNC.  The S-4 has not yet become effective.  The parties will file other relevant documents
concerning
the
proposed
transaction
with
the
SEC.
Following
the
S-4
being
declared
effective
by
the
SEC,
Yardville intends to mail the final proxy statement to its shareholders.  Such final documents, however,
are not currently available.  WE URGE INVESTORS TO READ THE FINAL PROXY STATEMENT/PROSPECTUS
AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR
INCORPORATED BY REFERENCE IN THE PROXY STATEMENT/PROSPECTUS, IF AND WHEN THEY BECOME
AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors may obtain these documents, if and when they become available, free of charge at the SEC's
web
site
(www.sec.gov).
In
addition,
documents
filed
with
the
SEC
by
PNC
will
be
available
free
of
charge
from Shareholder Relations at (800) 843-2206.  Documents filed with the SEC by Yardville will be
available free of charge from Yardville by contacting Howard N. Hall, Assistant Treasurer's Office, 2465
Kuser
Road, Hamilton, NJ 08690 or by calling (609) 631-6223.
The directors, executive officers, and certain other members of management and employees of Yardville
are participants in the solicitation of proxies in favor of the merger from the shareholders of Yardville.
Information about the directors and executive officers of Yardville is set forth in its Annual Report on Form
10-K filed on March 30, 2007 for the year ended December 31, 2006, as amended by the Form 10-K/A
filed on May 10, 2007. Additional information regarding the interests of such participants will be included
in the proxy statement/prospectus and the other relevant documents filed with the SEC if and when they
become available.
Additional Information About The
PNC/Yardville National Bancorp Transaction

Non-GAAP to GAAP
Reconcilement
Appendix
Income Statement Summary –
2004 to 2006 (continued)
For the year ended December 31, 2004
BlackRock
PNC
Deconsolidation and
BlackRock
PNC
In millions
As Reported
Other Adjustments
Equity Method
As Adjusted
Net interest income
$1,969
$(14)
$1,955
Provision for credit losses
52
52
Noninterest income
3,572
(745)
$101
2,928
Noninterest expense
3,712
(564)
3,148
Income before minority interest and income taxes
1,777
(195)
101
1,683
Minority interest in income of BlackRock
42
(42)
Income taxes
538
(59)
7
486
   Net income
$1,197
$(94)
$94
$1,197
In millions
2004
2005
2006
CAGR
Adjusted net interest income
$1,955
$2,142
$2,235
Adjusted noninterest income
2,928
3,122
3,572
Taxable-equivalent adjustment
20
33
25
Adjusted total revenue
4,903
5,297
5,832
9%
Adjusted noninterest expense
3,148
3,453
3,587
7%
Adjusted net income
$1,197
$1,325
$1,514
12%
In millions
2004
2005
2006
CAGR
Net interest income, as reported
$1,969
$2,154
$2,245
Noninterest income, as reported
3,572
4,173
6,327
Taxable-equivalent adjustment
20
33
25
Total revenue, taxable equivalent basis
5,561
6,360
8,597
24%
Noninterest expense, as reported
3,712
4,306
4,443
9%
Net income, as reported
$1,197
$1,325
$2,595
47%