PNC Bank 2013 Annual Report Download - page 47

At or for the year ended December 31
Dollars in millions, except as noted 2013 (a) 2012 (a) 2011 2010 2009
B
ALANCE S HEET H IGHLIGHTS
Assets $320,296 $305,107 $271,205 $264,284 $269,863
Loans (b) (c) 195,613 185,856 159,014 150,595 157,543
Allowance for loan and lease losses (b) 3,609 4,036 4,347 4,887 5,072
Interest-earning deposits with banks (b) (d) 12,135 3,984 1,169 1,610 4,488
Investment securities (b) 60,294 61,406 60,634 64,262 56,027
Loans held for sale (c) 2,255 3,693 2,936 3,492 2,539
Goodwill and other intangible assets 11,290 10,869 10,144 10,753 12,909
Equity investments (b) (e) 10,664 10,877 10,134 9,220 10,254
Noninterest-bearing deposits 70,306 69,980 59,048 50,019 44,384
Interest-bearing deposits 150,625 143,162 128,918 133,371 142,538
Total deposits 220,931 213,142 187,966 183,390 186,922
Transaction deposits (f) 186,391 176,705 147,637 134,654 126,244
Borrowed funds (b) (c) (g) 46,105 40,907 36,704 39,488 39,261
Total shareholders’ equity 42,408 39,003 34,053 30,242 29,942
Common shareholders’ equity 38,467 35,413 32,417 29,596 22,011
C
LIENT A SSETS (billions)
Discretionary assets under management $ 127 $ 112 $ 107 $ 108 $ 103
Nondiscretionary assets under management 120 112 103 104 102
Total assets under administration 247 224 210 212 205
Brokerage account assets (h) 41 38 34 34 32
Total client assets $ 288 $ 262 $ 244 $ 246 $ 237
S ELECTED R ATIOS
Net interest margin (i) 3.57% 3.94% 3.92% 4.14% 3.82%
Noninterest income to total revenue 43 38 39 39 44
Efficiency 61 68 64 57 56
Return on
Average common shareholders’ equity 10.88 8.31 9.56 10.88 9.78
Average assets 1.38 1.02 1.16 1.28 .87
Loans to deposits 89 87 85 82 84
Dividend payout 23.0 29.0 20.2 6.8 21.4
Basel I Tier 1 common 10.5 9.6 10.3 9.8 6.0
Basel I Tier 1 risk-based 12.4 11.6 12.6 12.1 11.4
Common shareholders’ equity to total assets 12.0 11.6 12.0 11.2 8.2
Average common shareholders’ equity to average assets 11.9 11.5 11.9 10.4 7.2
S ELECTED S TATISTICS
Employees 54,433 56,285 51,891 50,769 55,820
Retail Banking branches 2,714 2,881 2,511 2,470 2,513
ATMs 7,445 7,282 6,806 6,673 6,473
Residential mortgage servicing portfolio – Serviced for Third
Parties (in billions) $ 114 $ 119 $ 118 $ 125 $ 145
Commercial mortgage servicing portfolio (in billions) $ 308 $ 282 $ 267 $ 266 $ 287
(a) Includes the impact of RBC Bank (USA), which we acquired on March 2, 2012.
(b) Amounts include consolidated variable interest entities. See Consolidated Balance Sheet in Item 8 of this Report for additional information.
(c) Amounts include assets and liabilities for which we have elected the fair value option. See Consolidated Balance Sheet in Item 8 of this Report for additional information.
(d) Amounts include balances held with the Federal Reserve Bank of Cleveland of $11.7 billion, $3.5 billion, $.4 billion, $1.0 billion and $4.1 billion as of December 31, 2013, 2012,
2011, 2010 and 2009, respectively.
(e) Amounts include our equity interest in BlackRock.
(f) Represents the sum of interest-bearing money market deposits, interest-bearing demand deposits, and noninterest-bearing deposits.
(g) Includes long-term borrowings of $27.6 billion, $19.3 billion, $20.9 billion, $24.8 billion, and $26.3 billion for 2013, 2012, 2011, 2010 and 2009, respectively. Borrowings which
mature more than one year after December 31, 2013 are considered to be long-term.
(h) Amounts for 2013, 2012, 2011 and 2010 include cash and money market balances.
(i) 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 2013, 2012, 2011, 2010 and 2009 were $168 million, $144
million, $104 million, $81 million and $65 million, respectively.
The PNC Financial Services Group, Inc. – Form 10-K 29