PNC posts record 2Q26 revenue, lifts dividend 18% to $2.00 a share
Second-quarter net income rose to $2.055 billion as PNC completed the FirstBank conversion, increased buybacks guidance and maintained a 2026 economic outlook calling for continued expansion and steady Federal Reserve rates.
PNC reported record second-quarter 2026 revenue, net interest income and fee income, while raising its quarterly common stock dividend 18% to $2.00 per share and detailing stronger profitability, capital returns and the completed FirstBank integration. Total revenue rose to $6.875 billion from $6.165 billion in the first quarter and $5.661 billion a year earlier, while net income increased to $2.055 billion from $1.772 billion in the prior quarter and $1.643 billion in the second quarter of 2025. Diluted EPS was $4.81, and adjusted diluted EPS was $4.85 after excluding the net impact of FirstBank integration costs and other significant items, which reduced EPS by 4 cents. PNC said it converted about 780,000 FirstBank customers, more than 1,620 employees and 95 branches across Colorado and Arizona into PNC Bank on June 22, 2026, returned $1.3 billion to shareholders in the quarter and expects third-quarter repurchases to approximate second-quarter levels, subject to market and economic conditions.
- CET1 capital ratio: A key measure of a bank's highest-quality capital relative to risk-weighted assets.
- LCR: Liquidity coverage ratio, a measure of whether a bank holds enough liquid assets to meet short-term obligations.
- Net interest margin: The difference between what a bank earns on assets such as loans and what it pays on funding, expressed as a percentage.