PNC · 10-Q · 2026Q2 · Full report
Net Interest Income Trends
PNC FINANCIAL SERVICES GROUP, INC. · 2026-08-05 · Importance 48 · Surprise 40 · No source text
Second-quarter 2026 net interest income was $4.107 billion, up $146 million, or 4%, from the first quarter, supported by commercial loan growth and higher noninterest-bearing deposit balances. First-half net interest income rose $1.037 billion, or 15%, year over year to $8.068 billion, benefiting from FirstBank, loan growth and lower funding costs. Net interest margin increased to 2.96% from 2.95% sequentially and from 2.79% in the first half of 2025. Average loans increased 12% year over year to $357.074 billion, while lower deposit funding costs and fixed-rate asset repricing expanded the margin.
Key facts
- For the three months ended June 30, 2026, net interest income was $4,134 million and margin 2.96% compared to $3,583 million and 2.80% for the three months ended June 30, 2025. source
- Net interest income increased $146 million, or 4%, compared to the first quarter of 2026 and increased $1,037 million, or 15%, for the first six months of 2026 compared to the same period in 2025 source
- Average consolidated taxable-equivalent net interest income (non-GAAP) for the six months ended June 30, 2026 was $8,124 million compared to $7,087 million for the six months ended June 30, 2025. source
- Net interest income (GAAP) for the six months ended June 30, 2026 was $8,068 million and $7,031 million for the six months ended June 30, 2025. source
- Net interest income/margin for the six months ended June 30, 2026 was $8,124 million and 2.96% compared to $7,087 million and 2.79% for the six months ended June 30, 2025. source
- Total interest-earning assets averaged $547,800 million with interest income of $13,194 million and an average yield of 4.81% for the six months ended June 30, 2026. source
- Total interest-bearing deposits averaged $356,390 million with interest expense of $3,417 million and average rate 1.93% for the six months ended June 30, 2026. source
- Net interest income for the three months ended June 30, 2026 was $4,107 million source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | realized | +15.1% | Net interest income increased $146 million, or 4%, compared to the first quarter of 2026 and increased $1,037 million, or 15%, for the… |
| revenue | positive | realized | +8.0% | For the three months ended June 30, 2026, net interest income was $4,134 million and margin 2.96% compared to $3,583 million and 2.80% for… |
| revenue | positive | realized | +2.1% | Net interest income increased $146 million, or 4%, compared to the first quarter of 2026 and increased $1,037 million, or 15%, for the… |
| margin | positive | realized | +0.2% | Net interest income/margin for the six months ended June 30, 2026 was $8,124 million and 2.96% compared to $7,087 million and 2.79% for… |
| margin | positive | realized | +0.2% | For the three months ended June 30, 2026, net interest income was $4,134 million and margin 2.96% compared to $3,583 million and 2.80% for… |
| revenue | unclear | realized | — | Net interest income for the three months ended June 30, 2026 was $4,107 million |
| revenue | positive | realized | — | Average loans were $363,196 million for the three months ended June 30, 2026 with an average yield of 5.47% and interest income of $5,007… |