PNC Financial reported Q1/17 revenue and net income was up 6.0% and 13.9%, respectively. Earnings per share of $1.96 exceeded analysis’ polled by Thomson Reuters of $1.83.
Forest product manufacturer Tembec entered into a new $150 million ABL revolver and a $62 million FILO facility with Wells Fargo Capital Finance Canada as administrative agent and PNC as syndication agent.
PNC Financial reported Q3/15 net income of $1.1 billion was up from $1.0 billion a year earlier. EPS of $1.90 easily topped estimates of $1.72.
PNC Financial reported Q2/15 net interest margin was 2.73%, down from 3.12% in Q2/14. The bank noted the decline partially reflected its increasing liquidity position and lower loan yields.
PNC Financial announced that its affiliate reached an agreement with Freddie Mac to resolve substantially all indemnification and repurchase obligations related to loans sold to Freddie Mac between 2000 and 2008.
PNC Financial reported Q4 profit of $719 million was up from $493 million or 46% higher compared to the same quarter in 2011. The bank said Q4 earnings included gains on sales of Visa shares.