Retail Banking Performance - PNC Retail Banking's YTD average deposits reached $243 billion, accounting for 56% of total PNC deposits[8] - YTD average loans amounted to $97 billion, representing 30% of total PNC loans[8] - LTM revenue totaled $15 billion, contributing 54% of business segment revenue[8] - Retail Banking Pretax, Pre-Provision Earnings (PPNR) increased significantly from $18 billion in YTD 2022 to $54 billion in YTD 2025[8, 30] Client Base Growth and Expansion - Consumer DDAs (demand deposit accounts) have grown from 93 million in 2022 to 97 million as of 9/30/2025, a 11% increase[14] - PNC is increasing new branch builds to >300 by 2030 to drive density[16] - PNC is expanding into new markets, with significant branch builds planned in Miami (+40), Atlanta (+25), and Charlotte (+25)[16] Digital and Customer Experience Investments - 77% of consumer DDA households are digitally active[18] - Branch Channel NPS (Net Promoter Score) has increased by 10 points from 71 in 2022 to 81 in YTD 2025[18] - New card suite, digital direct deposit, and new online banking were launched in 2025[18] Wealth Management and Credit Card Growth - Client assets in Wealth Management have grown from $44 billion in 2016 to $89 billion as of 9/30/2025, representing an 8% CAGR[20] - Wealth Management revenue has increased from $03 billion in 2016 to $08 billion in 2025 (annualized), representing a 10% CAGR[20]

Core Insights - PNC plans to open over 300 new branches by 2030, increasing its previous target by approximately 100 locations [1] Company Expansion - The expansion aims to enhance PNC's in-person banking presence [1]

PNC lifted its planned investment in branches once more as the bank chases deposits in the fastest-growing US markets https://t.co/3hRmxpMQPE ...

Core Insights - PNC Bank plans to open over 300 new branches by 2030, increasing its total branch investment to approximately $2 billion [1] - The expansion includes markets such as Nashville, Chicago, Sarasota, and Winston-Salem, extending PNC's reach to nearly 20 markets across the U.S. [1][2] - PNC aims to hire more than 2,000 new employees to support its retail expansion efforts by 2030 [1] Expansion Plans - PNC will add around 35 new branches in Nashville, building on its momentum since entering the market in 2018 [2] - The bank plans to establish 40 additional branches in six Southeast cities, including Fort Myers and Lakeland, to meet consumer and business needs [2] - In Chicago, PNC will increase its presence by adding approximately 25 branches to its existing 113 locations [3][4] Commitment to Growth Markets - PNC is committed to building over 200 branches in strategic growth markets such as Atlanta, Austin, and Miami, in addition to branches from its pending acquisition of FirstBank [4] - This expansion reflects PNC's dedication to establishing a national presence and enhancing its retail banking services [4] Current Operations - PNC Bank operates over 2,200 branches nationwide, ranking as the fourth largest branch network in the U.S. [5] - The bank serves over 58,000 ATMs and offers online and mobile banking platforms, along with 22 mobile branches to increase access in low-and-moderate income communities [6]

Market Outlook - The current market dynamics reflect a healthy push and pull, with some pullbacks and assessments of growth trends, indicating that concerns about a significant market pullback may be overstated [2][4] - A third of the S&P 500 is down 20% from its 52-week highs, highlighting a strong bifurcation in the market [2][3] Economic Dynamics - The bifurcation in the market is driven by rapid changes and innovation, leading to some companies expanding profit margins while others face challenges [4][6] - This bifurcation is expected to persist, with winners and losers becoming more dispersed than in the past [6] Investment Strategy - Investors are advised to focus on sectors and companies that are expanding profit margins and to use market pullbacks to their advantage [7][8] - There is a concentration risk in the market, but it is seen as an unavoidable feature of the current economic landscape [9] Valuation Insights - Current valuations in the tech sector are not considered extreme compared to historical levels, particularly when considering growth prospects and potential productivity gains [10] - Concerns about valuations are more pronounced in sectors like consumer staples, which are experiencing profit margin squeezes [11][12] Federal Reserve Outlook - The Federal Reserve is expected to adopt a more dovish stance, potentially leading to rate cuts in December, which could support the markets [13][14] - Labor market softness is anticipated to influence the Fed's decisions, with some sectors facing more challenges than others [14][15] Small Cap Performance - Small caps have shown some catch-up potential but are not expected to outperform large caps significantly, especially in the context of current trends and higher debt levels [16]

Share Repurchase Activity - In Q3 2025, PNC repurchased a total of 1,690 thousand shares at an average price of $197.45 per share[503] - The maximum number of shares available for repurchase as of September 30, 2025, was approximately 36,880 thousand shares, representing about 37% of the authorized repurchase program[504] - Share repurchase activity in Q4 2025 is expected to be consistent with Q3 levels, approximating $300 million to $400 million[504] - PNC's capital return framework allows for repurchases exceeding the SCB minimum levels, with the SCB remaining at the regulatory minimum of 2.5% for the upcoming four-quarter period starting October 1, 2025[504] Dividends and Shareholder Plans - The Board of Directors intends to continue the policy of paying quarterly cash dividends, subject to economic conditions and regulatory limitations[520] - The Dividend Reinvestment and Stock Purchase Plan allows shareholders to purchase additional shares conveniently[521] Risk Factors and Regulatory Compliance - There were no changes in risk factors from the previous disclosures in the 2024 Form 10-K[500] - No unregistered sales of equity securities were reported during the period[501] - No modifications to trading arrangements by directors or executive officers were reported during Q3 2025[505] Financial Reporting and Information Availability - PNC's financial reports and investor information are available on its corporate website and through SEC filings[510]

Core Insights - The current mortgage lending landscape shows that four out of the top 16 national mortgage lenders are offering rates below 6% [1][3] - The best mortgage rates are being provided by two large credit unions and two major banks, specifically Navy Federal Credit Union, PenFed Credit Union, Citi Mortgage, and Chase Home Loans [3] - A significant difference in APR exists among lenders, with the top lender, Navy Federal, having an APR that is 1.185 percentage points lower than the bottom-ranked Third Federal [4] Mortgage Rate Overview - The survey conducted on February 9, 2026, highlights the 10 mortgage lenders with the best interest rates for 30-year fixed-rate conventional loans [2] - National average rates, as reported by Freddie Mac, remain above 6%, indicating that borrowers can achieve savings by comparing multiple lenders [4] Shopping for Mortgage Rates - Borrowers can save an average of $44,000 over the life of a 30-year loan by shopping around for mortgage rates [7] - The APR is emphasized as the most critical figure for borrowers, as it encompasses both the interest rate and lender fees, providing a clearer picture of annual borrowing costs [8] Discount Points and Offers - Lenders often provide mortgage discount points, which are prepaid interest fees that can lower the interest rate [10] - Special offers and fee discounts are becoming more common, with lenders like Citi Mortgage and Chase providing promotional incentives [12] Simplifying the Process - To streamline the mortgage rate shopping process, it is recommended that borrowers request quotes from multiple lenders without discount points and focus on the APR for accurate comparisons [13]

Of the top 10 mortgage lenders we scanned this week, four are still offering rates just below 6%. The Yahoo Finance survey ranks lenders by the lowest annual percentage rate (APR), which includes lender fees. The mortgage lenders with the best rates: Feb. 2-8, 2026 Here are the 10 mortgage lenders with the best interest rates this week, as determined by our survey of the lowest mortgage rates on 30-year, fixed-rate conventional loans. The following numbers are each lender’s annual percentage rate (APR) ...

Core Insights - The top three mortgage lenders with the best rates are Navy Federal Credit Union, Citi Mortgage, and PenFed Credit Union, with a slight change in ranking this week [1] - The consistency in rankings among the top lenders indicates a stable competitive landscape in the mortgage lending market [3] Lender Rankings - The top five lenders with the lowest mortgage rates include a mix of large national banks and credit unions, with Citi, Chase, Navy Federal, and PenFed consistently appearing [3] - Truist has moved into the fifth position, replacing Better this week [3] Rate Differences - There is a significant 1.185 percentage point difference in APR between the top lender, Navy Federal, and the lowest lender, Third Federal, highlighting the importance of comparing rates [4] Survey Details - A total of 16 lenders were surveyed, with several notable banks like Wells Fargo and Rocket Mortgage not making the top 10 based on APR [4] - Citizens Bank improved its position significantly, moving from near the bottom to the top 10 [4] Shopping for Rates - Borrowers can potentially save up to $44,000 over the life of a 30-year loan by shopping around for mortgage rates [7] - The trend of promotional rates is growing, with lenders like Chase Home Lending offering limited-time rate reductions [8] Importance of APR - The APR is emphasized as the most critical figure for borrowers, as it encompasses both the interest rate and lender fees, providing a clearer picture of borrowing costs [10] Discount Points - Lenders may offer discount points to lower interest rates, which are optional upfront fees that can reduce the interest rate by approximately 0.25% per point [11][12] - Borrowers can request quotes without discount points for a more straightforward comparison of rates and fees [13]

Core Insights - PNC Bank and Visa have renewed their strategic collaboration to enhance immediate payment capabilities for PNC's treasury management clients [1][2] - The collaboration allows PNC's Treasury Management Platform to utilize Visa Direct for real-time payment processing, improving money movement and payment efficiency for clients [2][4] Company Developments - PNC's partnership with Visa addresses the increasing demand from corporate and commercial clients for faster and secure payment solutions [3] - The integration of Visa Direct enables PNC to provide solutions for various use cases, including B2C and B2B transactions such as insurance disbursements and gig economy payouts [4] Industry Trends - The demand for instant payment capabilities is rising, with over 60% of commercial banks indicating that businesses consider these features essential [6] - Consumer expectations are also shifting, with nearly 80% of consumers stating that instant payments are the most important digital feature a bank can offer [7] - Visa reported a 23% increase in Visa Direct transactions in its fiscal fourth quarter, totaling 3.4 billion transactions [6]