PNC Bank 2011 Annual Report Download - page 37

At or for the year ended December 31
Dollars in millions, except as noted 2011 (a) 2010 (a) 2009 (a) 2008 (b) 2007
B ALANCE S HEET H IGHLIGHTS
Assets $271,205 $264,284 $269,863 $291,081 $138,920
Loans 159,014 150,595 157,543 175,489 68,319
Allowance for loan and lease losses 4,347 4,887 5,072 3,917 830
Interest-earning deposits with banks 1,169 1,610 4,488 14,859 346
Investment securities 60,634 64,262 56,027 43,473 30,225
Loans held for sale 2,936 3,492 2,539 4,366 3,927
Goodwill and other intangible assets 10,144 10,753 12,909 11,688 9,551
Equity investments 10,134 9,220 10,254 8,554 6,045
Noninterest-bearing deposits 59,048 50,019 44,384 37,148 19,440
Interest-bearing deposits 128,918 133,371 142,538 155,717 63,256
Total deposits 187,966 183,390 186,922 192,865 82,696
Transaction deposits (c) 147,637 134,654 126,244 110,997 53,672
Borrowed funds (d) 36,704 39,488 39,261 52,240 30,931
Total shareholders’ equity 34,053 30,242 29,942 25,422 14,854
Common shareholders’ equity 32,417 29,596 22,011 17,490 14,847
C LIENT A SSETS (billions)
Discretionary assets under management $ 107 $ 108 $ 103 $ 103 $ 74
Nondiscretionary assets under management 103 104 102 125 112
Total assets under administration 210 212 205 228 186
Brokerage account assets (e) 34 34 32 29 19
Total client assets $ 244 $ 246 $ 237 $ 257 $ 205
S ELECTED R ATIOS
Net interest margin (f) 3.92% 4.14% 3.82% 3.37% 3.00%
Noninterest income to total revenue 39 39 44 39 50
Efficiency 64 57 56 59 62
Return on
Average common shareholders’ equity 9.56 10.88 9.78 6.52 10.70
Average assets 1.16 1.28 .87 .64 1.21
Loans to deposits 85 82 84 91 83
Dividend payout 20.2 6.8 21.4 104.6 55.0
Tier 1 common 10.3 9.8 6.0 4.8 5.4
Tier 1 risk-based 12.6 12.1 11.4 9.7 6.8
Common shareholders’ equity to total assets 12.0 11.2 8.2 6.0 10.7
Average common shareholders’ equity to average assets 11.9 10.4 7.2 9.6 11.3
S ELECTED S TATISTICS
Employees 51,891 50,769 55,820 59,595 28,320
Retail Banking branches 2,511 2,470 2,513 2,581 1,102
ATMs 6,806 6,673 6,473 6,233 3,900
Residential mortgage servicing portfolio (billions) $ 131 $ 139 $ 158 $ 187
Commercial mortgage servicing portfolio (billions) $ 267 $ 266 $ 287 $ 270 $ 243
(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: Net Interest Margin, Noninterest income to total revenue, Efficiency, Return on Average common
shareholders’ equity, Return on Average assets, Dividend payout, and Average common shareholders’ equity to average assets.
(c) Represents the sum of interest-bearing money market deposits, interest-bearing demand deposits, and noninterest-bearing deposits.
(d) Includes long-term borrowings of $20.9 billion, $24.8 billion, $26.3 billion, $33.6 billion, and $12.6 billion for 2011, 2010, 2009, 2008 and 2007, respectively. Borrowings which
mature more than one year after December 31, 2011 are considered to be long-term.
(e) Amounts for 2011 and 2010 include cash and money market balances.
(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 net interest 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 accounting principles generally accepted in the United States of America
(GAAP) on the Consolidated Income Statement. The taxable-equivalent adjustments to net interest income for the years 2011, 2010, 2009, 2008 and 2007 were $104 million, $81
million, $65 million, $36 million and $27 million, respectively.
28 The PNC Financial Services Group, Inc. – Form 10-K