PNC Bank 2011 Annual Report Download - page 13

delivering acceptable returns under a moderate risk profile.
Our national distribution capability provides volume that
drives economies of scale, risk dispersion, and cost-effective
extension of the retail banking footprint for cross-selling
opportunities.
BlackRock is a leader in investment management, risk
management and advisory services for institutional and retail
clients worldwide. BlackRock provides diversified investment
management services to institutional clients, intermediary and
individual investors through various investment vehicles.
Investment management services primarily consist of the
management of equity, fixed income, multi-asset class,
alternative investment and cash management products.
BlackRock offers its investment products in a variety of
vehicles, including open-end and closed-end mutual funds,
iShares®exchange-traded funds (“ETFs”), collective
investment trusts and separate accounts. In addition,
BlackRock provides market risk management, financial
markets advisory and enterprise investment system services to
a broad base of clients. Financial markets advisory services
include valuation services relating to illiquid securities,
dispositions and workout assignments (including long-term
portfolio liquidation assignments), risk management and
strategic planning and execution.
We hold an equity investment in BlackRock. Our investment
in BlackRock is a key component of our diversified revenue
strategy. BlackRock’s ability to increase revenue, earnings
and shareholder value over time is predicated on its ability to
generate new business in investment management and
BlackRock Solutions products and services. New business
efforts are dependent on BlackRock’s ability to achieve
clients’ investment objectives in a manner consistent with
their risk preferences and to deliver excellent client service.
All of these efforts require the commitment and contributions
of BlackRock employees. Accordingly, the ability to attract
and retain talented professionals is critical to BlackRock’s
long-term success.
Non-Strategic Assets Portfolio (formerly, Distressed Assets
Portfolio) includes commercial residential development loans,
cross-border leases, consumer brokered home equity loans,
retail mortgages, non-prime mortgages, and residential
construction loans. We obtained the majority of these
non-strategic assets through acquisitions of other companies,
and they fall outside of our core business strategy.
S UBSIDIARIES
Our corporate legal structure at December 31, 2011 consisted
of one domestic subsidiary bank, including its subsidiaries,
and approximately 122 active non-bank subsidiaries. Our bank
subsidiary is PNC Bank, National Association (PNC Bank,
N.A.), headquartered in Pittsburgh, Pennsylvania. For
additional information on our subsidiaries, see Exhibit 21 to
this Report.
S TATISTICAL D ISCLOSURE B Y B ANK H OLDING C OMPANIES
The following statistical information is included on the
indicated pages of this Report and is incorporated herein by
reference:
Form 10-K page
Average Consolidated Balance Sheet
And Net Interest Analysis 208
Analysis Of Year-To-Year Changes
In Net Interest Income 207
Book Values Of Securities 41 – 44
and 142 – 148
Maturities And Weighted-Average
Yield Of Securities 147
Loan Types 38 – 40
127 and 209
Selected Loan Maturities And
Interest Sensitivity 211
Nonaccrual, Past Due And
Restructured Loans And Other
Nonperforming Assets
73–81
113 – 114
127 –136 and 209 – 210
Potential Problem Loans And Loans
Held For Sale 45 and 74 – 83
Summary Of Loan Loss Experience 81 – 83, 127 – 140
and 210
Assignment Of Allowance For Loan
And Lease Losses 81 – 83 and 211
Average Amount And Average Rate
Paid On Deposits 208
Time Deposits Of $100,000 Or More 162 and 211
Selected Consolidated Financial
Data 27 – 28
Short-term borrowings – not
included as average balances
during 2011, 2010 and 2009 were
less than 30% of total
shareholders’ equity at the end of
each period.
4The PNC Financial Services Group, Inc. – Form 10-K