Overview
- Fourth-quarter profit rose to $2.03 billion, or $4.88 per share, on record revenue of $6.07 billion, topping analyst expectations.
- Net interest income increased to $3.73 billion with a 2.84% net interest margin, supported by loan growth, lower funding costs and fixed-rate asset repricing.
- Capital markets and advisory revenue jumped 41% to $489 million as stronger global dealmaking lifted fees, including activity at Harris Williams.
- PNC completed the roughly $4.1–$4.2 billion FirstBank acquisition on Jan. 5, expecting $850–$900 million of 2026 net interest income from the deal, about $1.00 of EPS accretion in 2027 and $325 million of integration costs.
- For 2026, guidance calls for about 11% total revenue growth, ~14% net interest income growth and ~8% average loan growth, with share repurchases of $600–$700 million targeted in the first quarter and a CET1 ratio near 10.6%.