PNC Bank 2009 Annual Report Download - page 25

At or for the year ended December 31
Dollars in millions, except as noted 2009 (a) 2008 (b) 2007 2006 2005
B ALANCE S HEET H IGHLIGHTS
Assets $269,863 $291,081 $138,920 $101,820 $91,954
Loans 157,543 175,489 68,319 50,105 49,101
Allowance for loan and lease losses 5,072 3,917 830 560 596
Interest-earning deposits with banks 4,488 14,859 346 339 669
Investment securities 56,027 43,473 30,225 23,191 20,710
Loans held for sale 2,539 4,366 3,927 2,366 2,449
Goodwill and other intangible assets 12,909 11,688 9,551 4,043 4,466
Equity investments (c) 10,254 8,554 6,045 5,330 1,323
Noninterest-bearing deposits 44,384 37,148 19,440 16,070 14,988
Interest-bearing deposits 142,538 155,717 63,256 50,231 45,287
Total deposits 186,922 192,865 82,696 66,301 60,275
Borrowed funds (d) 39,261 52,240 30,931 15,028 16,897
Shareholders’ equity 29,942 25,422 14,854 10,788 8,563
Common shareholders’ equity 22,011 17,490 14,847 10,781 8,555
A SSETS U NDER A DMINISTRATION (billions)
Discretionary assets under management (e) $ 103 $ 103 $ 74 $ 55 $ 495
Nondiscretionary assets under management 102 125 112 85 83
Total assets under administration $ 205 $ 228 $ 186 $ 140 $ 578
S ELECTED R ATIOS
From continuing operations
Noninterest income to total revenue 44 39 50 70 60
Efficiency 56 59 62 49 67
From net income
Net interest margin (f) 3.82% 3.37% 3.00% 2.92% 3.00%
Return on
Average common shareholders’ equity 9.78 6.52 10.70 28.01 17.00
Average assets .87 .64 1.21 2.74 1.53
Loans to deposits 84 91 83 76 81
Dividend payout 21.4 104.6 55.0 24.4 43.4
Tier 1 risk-based 11.4 9.7 6.8 10.4 8.3
Tier 1 common 6.0 4.8 5.4 8.7 6.1
Common shareholders’ equity to total assets 8.2 6.0 10.7 10.6 9.3
Average common shareholders’ equity to average assets 7.2 9.6 11.3 9.8 9.0
S ELECTED S TATISTICS
Employees 55,820 59,595 28,320 23,783 25,348
Retail Banking branches 2,512 2,580 1,102 848 835
ATMs 6,473 6,233 3,900 3,581 3,721
Residential mortgage servicing portfolio (billions) $ 158 $ 187
Commercial mortgage servicing portfolio (billions) $ 287 $ 270 $ 243 $ 200 $ 136
(a) Includes the impact of National City, which we acquired on December 31, 2008.
(b) Includes the impact of National City except for the following Selected Ratios: Noninterest income to total revenue, Efficiency, Net interest
margin, Return on Average common shareholders’ equity, Return on Average assets, Dividend payout, and Average common shareholders’
equity to average assets.
(c) Includes our investment in BlackRock beginning with the 2006 balance. BlackRock was a consolidated entity at December 31, 2005.
(d) Includes long-term borrowings of $26.3 billion, $33.6 billion, $12.6 billion, $6.6 billion and $6.8 billion for 2009, 2008, 2007, 2006 and
2005, respectively. Borrowings which mature more than one year after December 31, 2009 are considered to be long-term.
(e) Assets under management at December 31, 2005 include BlackRock’s assets under management. We deconsolidated BlackRock effective
September 29, 2006.
(f) Calculated as taxable-equivalent net interest income divided by average earning assets. The interest income earned on certain earning assets
is completely or partially exempt from federal income tax. As such, these tax-exempt instruments typically yield lower returns than taxable
investments. To provide more meaningful comparisons of margins for all earning assets, we use net interest income on a taxable-equivalent
basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets to make it fully equivalent to interest
income earned on taxable investments. This adjustment is not permitted under GAAP on the Consolidated Income Statement. The taxable-
equivalent adjustments to net interest income for the years 2009, 2008, 2007, 2006 and 2005 were $65 million, $36 million, $27 million, $25
million and $33 million, respectively.
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