PNC first quarter 2026 EPS beats as Net Interest Income grows 6% to $4.0 billion.

PNC reported first-quarter 2026 revenue of $6.17 billion, slightly missing analyst estimates of $6.21 billion, while diluted EPS of $4.13 beat expectations of $4.10. The results include operations from the newly acquired FirstBank.

Key Highlights

• Net interest income (NII) increased 6% sequentially to $4.0 billion, reflecting the benefit of the FirstBank acquisition, lower funding costs, and commercial loan growth.
• Net interest margin (NIM) expanded by 11 basis points from the prior quarter to 2.95%, driven by an 18 basis point decline in the rate paid on interest-bearing deposits.
• Average loans grew 7% sequentially to $350.9 billion, supported by $23.0 billion in growth from the FirstBank acquisition and legacy commercial loan demand.
• The bank returned $1.4 billion to shareholders, consisting of $700 million in share repurchases and $700 million in dividends.