{"schema_version":"secwatch.filing_event.v1","accession":"0000713676-23-000069","form_type":"8-K","ticker":"PNC","cik":"0000713676","company_name":"PNC FINANCIAL SERVICES GROUP, INC.","filed_at":"2023-10-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.792283+00:00","generated_at":"2026-06-10T00:19:20.696830+00:00","sec_items":["2.02","2.05","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"PNC Q3 net income $1.57B, EPS $3.60; plans 4% workforce reduction with $150M charge","bullets":["Revenue $5.23B (-1% QoQ, -6% YoY); net interest margin compresses to 2.71% from 2.79% QoQ.","Diluted EPS $3.60 vs $3.36 in Q2; net income $1.57B vs $1.50B.","CET1 capital ratio improved to 9.8% (up 30bps); tangible book value per share $78.16.","Workforce reduction of ~4% to save $325M annually; $150M pre-tax charges in Q4.","Average loans $319.5B (-2% QoQ); average deposits $422.5B (-1% QoQ)."],"urls":{"canonical":"https://secwatch.observer/filing/0000713676-23-000069","json":"https://secwatch.observer/filing/0000713676-23-000069.json","markdown":"https://secwatch.observer/filing/0000713676-23-000069.md","text":"https://secwatch.observer/filing/0000713676-23-000069.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/713676/000071367623000069/0000713676-23-000069-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/713676/000071367623000069/pnc-20231013.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T00:19:20.696830+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"6685877c591dd6f45865e46eb23252d4efc3765e","claim":"PNC FINANCIAL SERVICES GROUP, INC. reported financial results for the third quarter of 2023.","evidence_excerpt":"On October 13, 2023 , The PNC Financial Services Group, Inc. (the “Corporation”) issued a press release regarding the Corporation’s earnings and business results for the third quarter of 2023.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/713676/000071367623000069/0000713676-23-000069-index.htm","confidence":0.4,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the third quarter of 2023"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"eefcff63789d910f48afa671eef87757dfd056e4","claim":"PNC FINANCIAL SERVICES GROUP, INC. announced a restructuring with charges of approximately $150 million (approximately 4 percent).","evidence_excerpt":"On October 6, 2023, as part of ongoing cost reduction initiatives, the Corporation committed to a workforce reduction expected to reduce its workforce by approximately 4 percent. Affected employees were informed of the workforce reduction beginning on October 6, 2023. The Corporation expects to incur one-time, pre-tax charges and costs associated with these actions of approximately $150 million, primarily related to cash severance, benefits and related termination costs.","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/713676/000071367623000069/0000713676-23-000069-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $150 million"},{"label":"Headcount","value":"approximately 4 percent"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}