PNC Financial’s net income rose to $2.06 billion in Q2 2026, driven by capital markets and FirstBank acquisition gains.
PNC Financial Services Group reported second-quarter revenue of $6.88 billion, a 21% year-over-year increase, marking a record high. Net income surged 25% to $2.06 billion, or $4.81 per diluted share, from the same period last year.
Adjusted earnings per share reached $4.85, up from $3.85 in Q2 2025, excluding integration costs tied to the $4.1 billion FirstBank acquisition. Capital markets and advisory revenue jumped 80% to $577 million, fueled by record M&A advisory fees and strong performance in other areas. Total fee income rose 20% to $2.28 billion, while net interest income climbed 16% to $4.11 billion.
Average loans grew 13% to $363.2 billion, and deposits increased 8% to $457 billion. Net interest margin expanded 16 basis points to 2.96%. The company completed the FirstBank integration in January, converting 780,000 customers and 95 branches by late June.