PNC Bank 2000 Annual Report Download - page 20

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hrough PNC Real Estate Finance,
commercial real estate developers, owners
and investors are provided credit, capital
markets, tre a s u r y management, and other
p r oducts and services. The PNC Real
Estate Finance platform includes Midland
Loan Services, which provides serv i c i n g
for commercial mortgage loans, and
Columbia Housing, a national syndicator
of aff o r dable housing equity.
PNC Real Estate Finance contin-
ued to reposition itself in 2000, taking
additional steps to enhance its strong
technology and processing platform and
to increase the relative contribution of
fee-generating, non-lending activities.
To enhance its national leadership
position in commercial mortgage serv i c i n g ,
Midland Loan Services merged with
Univest Financial Group, a privately held
p rovider of technology and data manage-
ment services to the commercial real estate
finance industry. The combined operation
is a leading provider of Web-based loan
s e rvicing and asset administration solutions
for the commercial real estate industry.
The contributions of Midland and
Columbia Housing, another primarily
fee-based business, helped to further
diversify the earnings composition of PNC
Real Estate Finance and create a more
valuable enterprise. In 2000, noninterest
income grew to 48% of total revenue,
compared with 29% in 1998.
Efforts to drive higher-quality
earnings were also helped by measures
PNC Real Estate Finance took to reduce
its reliance on more volatile and cyclical
credit-related revenues. It continued
throughout the year to move away from
credit-only relationships by emphasizing
its fully-integrated package of commercial
real estate financial products and services.
In addition, this business will focus
on growing higher- q u a l i t y revenues by
expanding third - p a rty processing services to
other commercial real estate lenders.
THE CHARLES E. SMITH REALTY
COMPANIES
By leveraging the quality and breadth of a broad
range of financial services, a relationship
that began with a construction loan in the 1980s
now encompasses several PNC businesses. Denny
Minami, COO/CFO of Charles E. Smith
Residential Realty L.P., and Paul Larner, CFO of
Charles E. Smith Commercial Realty L.P.
(pictured with PNC’s Bill Lynch and Connie
Bond Stuart), rely on PNC for a wide
range of financial services. In addition to the
lines of credit, construction loans and
capital markets products provided by PNC Real
Estate Finance, the Smith Companies utilize the
services of PNC Advisors, Hawthorn and PNC
Bank’s treasury management group.
T
PNC RE A L ES TAT E FI N A N C E
18
NO N I N T E R E S T
IN C O M E
(in millions)
$47
98 99 00
$100 $105