PNC Financial Services (PNC) official guidance

We expect a full-year average loan growth of approximately 13.5%.

We expect average loans to be up approximately 2.5%, net interest income to be up approximately 4%, fee income to be up approximately 3.5%, other non-interest income to be approximately $250 million.

We remain focused on expense management, and we're on track to reach our goal to reduce costs by $350 million in 2026 through our continuous improvement program, which, as a reminder, is independent of the FirstBank acquisition.

Taking the component pieces of revenue together, we expect total revenue to be up approximately 13.7%, non-interest expense to be up approximately 9.5%, and we expect our effective tax rate to be approximately 19.5%.

We expect the Fed to increase rates two additional times, with a 25-basis point increase at the December 2026 and March 2027 meetings, ultimately reaching a range between 4.25% and 4.5%.

We expect the Fed to increase rates two additional times, with a 25-basis point increase at the December 2026 and March 2027 meetings, ultimately reaching a range between 4.25% and 4.5%.

We expect the Fed to increase rates two additional times, with a 25-basis point increase at the December 2026 and March 2027 meetings, ultimately reaching a range between 4.25% and 4.5%.

But the pipelines are good. I imagine we'll get into the fee walk down, but we expect capital markets fees to be up almost 15% quarter-over-quarter in the fourth quarter, reflecting those pipelines. So it looks good.

We expect average loans to be up approximately 2.5%, net interest income to be up approximately 4%, fee income to be up approximately 3.5%, other non-interest income to be approximately $250 million.

We expect adjusted non-interest expense to increase approximately 5%, and we expect fourth quarter net charge-offs to be approximately $250 million.

We expect full-year net interest income to be up 15.5%.

We expect average loans to be up approximately 2.5%, net interest income to be up approximately 4%, fee income to be up approximately 3.5%, other non-interest income to be approximately $250 million.

When we look at it, clearly in 2027 we'll exceed in net interest income our annualized run rate of what we project to finish 2026 in. And when we look at the consensus in terms of where you are, you sort of hit it. That's $1 billion to $1.1 billion above 2026 in terms of growth. And I think we would agree with that range.

Importantly, the underlying drivers of NII growth remain strong, and based on our expectations for loan growth, we calculate that our net interest margin will reach 3% or above in the fourth quarter.

We expect non-interest income to be up approximately 10.5%.

We expect adjusted non-interest expense to increase approximately 5%, and we expect fourth quarter net charge-offs to be approximately $250 million.

Taking the component pieces of revenue together, we expect total revenue to be up approximately 13.7%, non-interest expense to be up approximately 9.5%, and we expect our effective tax rate to be approximately 19.5%.

We expect average loans to be up approximately 2.5%, net interest income to be up approximately 4%, fee income to be up approximately 3.5%, other non-interest income to be approximately $250 million.

Regarding our view of the overall economy, our base case assumes GDP growth to be above 2% in 2026, with continued modest job gains and the unemployment rate holding steady.

Taking the component pieces of revenue together, we expect total revenue to be up approximately 13.7%, non-interest expense to be up approximately 9.5%, and we expect our effective tax rate to be approximately 19.5%.