PNC金融服务集团 2024年度报告

FORM10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year endedDecember31, 2024or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from toCommission file number001-09718 THEPNC FINANCIAL SERVICES GROUP, INC. (Exact name of registrant as specified in its charter) 25-1435979 (I.R.S. Employer Identification No.) Common Stock, par value $5.00 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control overfinancial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☒ The aggregate market value of the registrant’s outstanding voting common stock held by nonaffiliates on June 30, 2024, determined using the per share closing price onthat date on the New York Stock Exchange of $155.48, was approximately $61.6billion. There is no non-voting common equity of the registrant outstanding. Number of shares of registrant’s common stock outstanding at February3, 2025:395,749,583 DOCUMENTS INCORPORATED BY REFERENCE Portions of the definitive Proxy Statement of The PNC Financial Services Group, Inc. to be filed pursuant to Regulation 14A for the 2025 annual meeting ofshareholders (Proxy Statement) are incorporated by reference into Part III of this Form 10-K. THEPNC FINANCIALSERVICESGROUP, INC.Cross-Reference Index to 2024 Form 10-KTABLE OF CONTENTS PART I Item1BusinessItem1A Risk FactorsItem1B Unresolved Staff CommentsItem1C CybersecurityItem2PropertiesItem3Legal ProceedingsItem4Mine Safety DisclosuresInformation about our Executive Officers PARTIIItem5Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesCommon Stock Performance GraphItem 6ReservedItem7Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A)Executive SummaryConsolidated Income Statement ReviewConsolidated Balance Sheet ReviewBusiness Segments ReviewRisk ManagementAverage Consolidated Balance Sheet and Net Interest AnalysisNon-GAAP Financial InformationCritical Accounting Estimates and JudgmentsCautionary Statement Regarding Forward-Looking InformationItem7A Quantitative and Qualitative Disclosures about Market RiskItem8Financial Statements and Supplementary DataReport of Independent Registered Public Accounting FirmConsolidated Income StatementConsolidated Statement of Comprehensive IncomeConsolidated Balance SheetConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to Consolidated Financial StatementsNote1 Accounting PoliciesNote 2 Investment SecuritiesNote 3 Loans and Related Allowance for