PNC Financial Services Group, Inc. (The)

Greetings and welcome to the PNC Financial Services Group Q32026 Earnings Conference Call. At this time all participants are in listen-only mode. A question and answer session will follow the formal presentation. You may be placed into question queue at any time by pressing star 1 on your telephone keypad. As a reminder, this conference is being recorded. If anyone should require operator assistance, please press star 0 on your telephone keypad. It's now my pleasure to turn the call over to Bryan Gill, Executive Vice President and Director of Investor Relations. Bryan, please go ahead.

Well, good morning and welcome to today's conference call for the PNC Financial Services Group. I am Bryan Gill, Director of Investor Relations for PNC, and participating on this call are PNC's Chairman and CEO, Bill Demchak, and Rob Reilly, Executive Vice President and CFO. Today's presentation contains forward-looking information. Cautionary statements about this information, as well as reconciliations of non-GAAP measures, are included in today's earnings release materials, as well as our SEC filings and other investor materials. These are all available on our corporate website, pnc.com, under Investor Relations. These statements speak only as of October 15, 2026, and PNC undertakes no obligation to update them. Now, I'd like to turn to call over to Bill.

Thank you, Bryan, and good morning, everyone. The PNC delivered another strong quarter, reflecting the consistent execution of our strategy and the strength of our franchise. As you saw, we generated $2.1 billion of net income, or $5.09 per diluted share, as adjusted, while delivering a return on tangible common equity of more than 18%. Rob's going to take you through the financial results in more detail in a second. But I wanted to start off by highlighting the substantial client momentum we've been experiencing all year, which has continued through the third quarter. All of our businesses are experiencing robust growth, in part driven by the high growth rates of our expansion markets, and most recently, the successful conversion of First Bank. In corporate and institutional banking, our national platform continues to generate impressive growth. Expansion markets have added approximately 500 new client relationships year-to-date, contributing materially to a 5% average CNIB loan growth during the quarter and 17% growth year-over-year. Beyond loans, capital markets fees are up 40% year-to-date and treasury management revenue is up 8%. In retail banking, we continue to grow clients, organically adding 215,000 net new checking accounts so far in 2026, with total accounts up 2% year-over-year, including 6% growth in our Southwest markets. And we continue to deepen relationships with credit card balances up 12% and brokerage assets up 9% year-over-year. At the same time, we continue to invest in capabilities to enhance our franchise with the introduction of both a new mobile app and Total Rewards Program, as well as our continued branch expansion. Asset management fees are up approximately 10% year-to-date and assets under administration total a half a trillion dollars. Favorable equity markets have obviously helped here, but once again, our expansion markets have accelerated our growth. In these markets, AUM is growing five times faster than our legacy markets, albeit off a smaller base. When we step back and look at the year as a whole, we have grown considerably faster than we anticipated coming into 2026. We are bringing new clients into the franchise, expanding relationships across businesses and markets, and converting that activity into durable growth in loans, deposits, and fee income. As we enter the final quarter of the year, we remain focused on disciplined growth, prudent risk management, and continued investment in the capabilities that strengthen our competitive position. As always, I would like to thank our employees for their hard work and commitment. And with that, I'll turn the call over to Rob to take you through the details of the quarter.