PNC · 10-Q · 2026Q2 · Full report
Liquidity and Debt Position
PNC FINANCIAL SERVICES GROUP, INC. · 2026-08-05 · Importance 81 · Surprise 64 · No source text
Total assets increased $42.5 billion, or 7%, from December 31, 2025 to $616.0 billion at June 30, 2026, while total deposits rose $8.9 billion, or 2%, to $449.8 billion. Borrowed funds increased $28.6 billion, or 50%, to $85.7 billion, primarily because Federal Home Loan Bank advances rose $27.4 billion to $40.4 billion. Total brokered deposits declined to $2.1 billion from $5.1 billion and remained below internal and regulatory limits. Investment securities increased $11.3 billion, or 8%, to $149.5 billion, and PNC sold approximately $4.1 billion of available-for-sale securities at a $139 million loss before purchasing approximately $4.3 billion of securities at a 4.4% weighted-average yield.
Key facts
- Total deposits consolidated increased to $449.8 billion at June 30, 2026 from $440.9 billion at December 31, 2025, primarily driven by higher noninterest-bearing deposits and included addition of FirstBank deposits; uninsured deposits approximately 45% of total deposit base at June 30, 2026 source
- At June 30, 2026, total FHLB borrowing capacity was $78.4 billion and total FHLB advances and letters of credit were $40.7 billion; at December 31, 2025 comparable amounts were $64.1 billion and $13.4 billion, respectively. source
- See Note 17 Subsequent Events: issuances of $1.0 billion of 5.463% senior fixed-to-floating notes maturing July 21, 2037 and $1.0 billion of 4.831% senior fixed-to-floating notes maturing July 19, 2030, and redemption of all outstanding 5.102% senior fixed-to-floating notes due July 23, 2027. source
- PNC Bank redeemed $1.25 billion of all outstanding 4.543% senior fixed-to-floating rate notes on May 13, 2026. source
- Parent company issued $1.35 billion of 4.618% senior fixed-to-floating rate notes on May 26, 2026 maturing October 26, 2029 with fixed interest payable semi-annually at 4.618% commencing October 26, 2026 and floating thereafter beginning October 26, 2028. source
- Parent company issued $300 million of senior floating rate notes on May 26, 2026 maturing October 26, 2029 paying quarterly interest equal to Compounded SOFR plus 0.680%, which commenced on July 26, 2026. source
- Total assets at June 30, 2026 were $616,034 million, an increase of $42,462 million, or 7%, compared to December 31, 2025 source
- Total deposits at June 30, 2026 were $449,792 million, an increase of $8,926 million, or 2%, compared to December 31, 2025 source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| assets | positive | realized | +6.9% | Total assets at June 30, 2026 were $616,034 million, an increase of $42,462 million, or 7%, compared to December 31, 2025 |
| liability | negative | realized | -4.7% | Borrowed funds increased $28,622 million, or 50%, to $85,723 million at June 30, 2026, primarily due to higher FHLB advances |
| liability | negative | realized | -4.4% | At June 30, 2026, total FHLB borrowing capacity was $78.4 billion and total FHLB advances and letters of credit were $40.7 billion; at… |
| liability | negative | realized | -2.0% | Corporate & Institutional Banking total deposits at June 30, 2026: $159,887 million; 2025: $147,233 million |
| net_income | negative | realized | -2.0% | In the second quarter of 2026, PNC sold available-for-sale securities with a market value of approximately $4.1 billion and a weighted… |
| liability | negative | realized | -1.4% | Total deposits consolidated increased to $449.8 billion at June 30, 2026 from $440.9 billion at December 31, 2025, primarily driven by… |
| assets | positive | realized | +0.9% | Primary contingent liquidity - Available investment securities: $82.5 billion at June 30, 2026 and $77.2 billion at December 31, 2025. |
| liability | negative | committed | -0.3% | See Note 17 Subsequent Events: issuances of $1.0 billion of 5.463% senior fixed-to-floating notes maturing July 21, 2037 and $1.0 billion… |
| liability | negative | realized | -0.2% | Parent company issued $1.35 billion of 4.618% senior fixed-to-floating rate notes on May 26, 2026 maturing October 26, 2029 with fixed… |
| cash | positive | realized | +0.2% | Parent company issued $1.35 billion of 4.618% senior fixed-to-floating rate notes on May 26, 2026 maturing October 26, 2029 with fixed… |
| cash | negative | realized | -0.2% | PNC Bank redeemed $1.25 billion of all outstanding 4.543% senior fixed-to-floating rate notes on May 13, 2026. |
| liability | positive | realized | +0.2% | PNC Bank redeemed $1.25 billion of all outstanding 4.543% senior fixed-to-floating rate notes on May 13, 2026. |