---
schema_version: "secwatch.filing_event.v1"
accession: "0000713676-23-000050"
form_type: "8-K"
ticker: "PNC"
cik: "0000713676"
company_name: "PNC FINANCIAL SERVICES GROUP, INC."
filed_at: "2023-07-18T23:59:59+00:00"
generated_at: "2026-06-13T07:21:07.272219+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# PNC Q2 net income $1.5B, EPS $3.36; dividend raised to $1.55; SCB to 2.5%

## Summary
- Net income of $1.5B, diluted EPS $3.36 vs Q1 $1.694B, $3.98; revenue $5.293B down 5.5% QoQ.
- Net interest income $3.510B (-2% QoQ); NIM 2.79% down 5 bps; fee income down 6% on MSR/ Visa derivatives.
- Average loans $324.5B stable; average deposits $425.7B down 2% QoQ; CET1 ratio improved to 9.5%.
- Provision for credit losses $146M vs $235M Q1; net charge-offs $194M (0.24% of loans).
- Quarterly common dividend raised to $1.55 (+3.3%); SCB to 2.5% effective Oct 1, 2023.

## SEC filing metadata
- accession: 0000713676-23-000050
- form_type: 8-K
- ticker: PNC
- cik: 0000713676
- company_name: PNC FINANCIAL SERVICES GROUP, INC.
- filed_at: 2023-07-18T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/713676/000071367623000050/0000713676-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/713676/000071367623000050/pnc-20230718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000713676-23-000050
- JSON: https://secwatch.observer/filing/0000713676-23-000050.json
- Plain text: https://secwatch.observer/filing/0000713676-23-000050.txt

## Key facts
- Earnings Releases
  PNC FINANCIAL SERVICES GROUP, INC. reported second quarter of 2023 results: revenue $ 5,293, net income 1,500, EPS $ 3.36.
  - Period: second quarter of 2023
  - Revenue: $ 5,293
  - Net income: 1,500
  - EPS: $ 3.36
  - Result: reported results
  source text: PNC REPORTS SECOND QUARTER 2023 NET INCOME OF $1.5 BILLION, $3.36 DILUTED EPS Increased capital; strong credit quality; 4Q23 SCB requirement of 2.5% Raised quarterly common stock dividend 5 cents to $1.55 per share on July 3, 2023 PITTSBURGH, July 18, 2023 – The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 2Q23 1Q23 2Q22 Second Quarter Highlights ▪ Financial Results Comparisons reflect 2Q23 vs. 1Q23 Revenue $ 5,293 $ 5,603 $ 5,116 Average Balance Sheet ▪ Stable loans ▪ Deposits decreased 2% ▪ ACL to total loans and net loan charge-offs were stable ▪ Tangible book value increased to $77.80 ▪ CET1 capital ratio increased 30 basis points to 9.5% ▪ Raised quarterly dividend 5 cents to $1.55 per share ▪ Effective Oct. 1, 2023, PNC's Stress Capital Buffer (SCB) will improve to the regulatory minimum of 2.5% Income Statement ▪ Net interest income declined 2% ▪ NIM decreased 5 basis points ▪
  evidence_url: https://www.sec.gov/Archives/edgar/data/713676/000071367623000050/0000713676-23-000050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.