PNC Bank 2013 Annual Report Download - page 2

The PNC Financial Services Group, Inc.
Financial Highlights
Year ended December 31
Dollars in millions, except per share data
Financial Results 2013 2012 2011
Net interest income $ 9,147 $ 9,640 $ 8,700
Noninterest income 6,865 5,872 5,626
Total revenue 16,012 15,512 14,326
Noninterest expense 9,801 10,582 9,105
Pretax, pre-provision earnings (non-GAAP) 6,211 4,930 5,221
Provision for credit losses 643 987 1,152
Net income $ 4,227 $ 3,001 $ 3,071
Diluted earnings per common share $ 7.39 $ 5.30 $ 5.64
Cash dividends declared per common share $ 1.72 $ 1.55 $ 1.15
Balance Sheet At year end 2013 2012 2011
Assets $ 320,296 $ 305,107 $ 271,205
Loans 195,613 185,856 159,014
Deposits 220,931 213,142 187,966
Shareholders’ equity 42,408 39,003 34,053
Book value per common share $ 72.21 $ 67.05 $ 61.52
Tangible book value per common share (non-GAAP) $ 54.68 $ 49.18 $ 45.20
Selected Ratios 2013 2012 2011
Return on average common shareholders’ equity 10.88% 8.31% 9.56%
Return on average assets 1.38% 1.02% 1.16%
Net interest margin 3.57% 3.94% 3.92%
Noninterest income to total revenue 43% 38% 39%
Basel I Tier 1 common capital ratio 10.5% 9.6% 10.3%
Basel I Tier 1 risk-based capital ratio 12.4% 11.6% 12.6%
Pro forma Basel III Tier 1 common capital ratio 9.4% 7.5%
PNC believes that pretax, pre-provision earnings serves as a useful tool to help evaluate the ability to provide for credit costs through operations.
PNC believes that tangible book value per common share serves as a useful tool to help evaluate the strength and discipline of a company’s
capital management strategies and as an additional, conservative measure of total company value. See the Statistical Information (Unaudited)
section included in Item 8 of the accompanying 2013 Form 10-K for additional information.
PNC’s pro forma Basel III Tier 1 common capital ratio was estimated without benefit of phase-ins and based on estimated Basel III risk-weighted
assets, using the lower of the ratio calculated under the standardized and advanced approaches. See the Funding and Capital Resources section
included in Item 7 of the accompanying 2013 Form 10-K for additional information.
These Financial Highlights should be read in conjunction with disclosures in the accompanying 2013 Form 10-K including the audited financial
statements. Certain prior period amounts included in the Financial Highlights have been reclassified to conform with the current period presentation.