PNC FINANCIAL SERVICES GROUP, INC. (PNC)

The PNC Financial Services Group, Inc. is a financial services holding company headquartered in Pittsburgh, Pennsylvania, and one of the largest diversified financial institutions in the U.S. It was incorporated in Pennsylvania in 1983 through the consolidation of Pittsburgh National Corporation and Provident National Corporation, and has since expanded through organic growth, bank and non-bank acquisitions, equity investments and the formation of non-banking subsidiaries. At December 31, 2025, it had consolidated total assets of $573.6 billion, total deposits of $440.9 billion and total shareholders' equity of $60.6 billion.

PNC has businesses engaged in retail banking, corporate and institutional banking, and asset management. It offers a broad range of deposit, credit and fee-based products and services, including a full range of lending products for retail and business banking. It also provides specialized services for corporations and government entities, such as corporate banking, real estate finance and asset-based lending, as well as wealth management and asset management. Its non-banking subsidiaries engage in financial activities including market-making, securities underwriting, advisory services, and other permissible investment and merchant banking activities. The company refers to its segment reporting note for further detail on its business segments.

PNC serves consumers, businesses, corporations and government entities, and provides many of its products and services nationally. It is organized around its customers and communities to support strong relationships and local delivery. Its retail branch network is located coast-to-coast, and it has strategic international offices in four countries outside the U.S.

PNC conducts its business primarily through its main domestic bank subsidiary, PNC Bank, a national banking association chartered and located in Wilmington, Delaware. At December 31, 2025, its legal structure consisted of one domestic bank subsidiary and 52 active non-bank subsidiaries, plus various affordable housing and historic rehabilitation investments. On January 5, 2026, PNC completed its acquisition of FirstBank Holding Company and its Colorado state-chartered bank, FirstBank, which had $26.4 billion of assets, $16.0 billion of loans and $23.1 billion of deposits at closing. FirstBank is expected to be merged into PNC Bank this summer. PNC is a bank holding company that has elected to be a financial holding company. It is regulated primarily by the Federal Reserve, and PNC Bank is supervised mainly by the OCC, with the FDIC and CFPB also having roles. PNC is currently classified as a Category III banking organization.