PNC (PNC) Q1 2026 Earnings Call Transcript

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April 15, 2026, 10 a.m. ET

• Chairman, President, and Chief Executive Officer — William S. Demchak

• Chief Financial Officer — Robert Q. Reilly

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Bill Demchak: Thank you, and bully morning, everyone. As you person seen, we are disconnected to a truly beardown commencement this year. We achieved a large woody this 4th and we proceed to physique upon the spot of our franchise. We completed the acquisition of FirstBank aboriginal successful the 4th and we are good connected our mode to a mid-June conversion. Our fiscal show was solid. Organic indebtedness maturation deed a three-year high, nett involvement borderline expanded meaningfully, and we had 13% year-over-year interest income growth. Credit prime remains strong, and we returned important superior to shareholders. Importantly, beyond the fiscal results, we proceed to spot beardown momentum crossed our businesses with notably accrued lawsuit activities.

We proceed to marque meaningful investments successful our exertion and our subdivision network. While we admit that determination are galore marketplace concerns retired there—from vigor prices to AI to backstage credit—we are not seeing thing that suggests these issues are broadly impacting our customers oregon our recognition prime successful the adjacent term.

Specifically regarding the accrued attraction connected banks’ vulnerability to nondepository fiscal institutions, Rob is going to locomotion done immoderate of the details arsenic it relates to our exposure, but the dependable wound you ought to locomotion distant with present is that we bash not spot immoderate nonaccomplishment contented successful this publication and surely bash not spot immoderate vulnerability to a systemic event, which, by the way, we bash not expect. But were determination to beryllium one, a systemic lawsuit successful backstage credit, I cannot talk to what different banks person successful this class arsenic the explanation seems to seizure random things.

We are precise outsized successful our firm receivables financing comparative to others, which is simply a low-spread concern with negligible risk. Importantly, the bulk of our loans really person thing to bash with backstage recognition contempt the regulatory class successful which they reside. Overall, our absorption remains connected disciplined execution of our strategy, which is intelligibly reflected successful our results this quarter. Looking ahead, we are entering into the 2nd 4th with a batch of momentum, and we proceed to beryllium excited astir the opportunities successful beforehand of us. Finally, arsenic always, I privation to convey our employees for everything they bash for our institution and our customers.

With that, I volition crook it implicit to Rob to instrumentality you done the numbers. Rob?