PNC Bank to pay $7.1M to settle SBA loan claims PNC Bank has agreed to pay the United States $7.1M to settle claims under the False Claims Act that it failed to engage in prudent underwriting practices in connection with the issuance of loans guaranteed by the Small Business Administration, the Justice Department announced. Reference Link
PNC Financial: Revenue growth will remain a challenge until interest rates rise Says revenue growth will remain a challenge until interest rates rise. Says 2015 looks "a lot" like 2015 at the moment. Comments made on the Q4 earnings conference call.
PNC Financial sees 'stable' net interest income in Q1 Sees "modest" loan growth in 1Q15 vs. 4Q14. Sees fee income down mid-single digits in Q1 from Q4 due to seasonality and client activity. Sees Q1 noninterest income down high single digits. Sees Q1 loan loss provision $50M-$100M. Comments from slides that will be presented on the Q4 earnings conference call.
PNC Financial reports Q4 EPS $1.84, consensus $1.74 Reports Q4 revenue $3.95B, consensus $3.8B. Reports Q4 net interest income $986M. Reports Q4 book value per share $77.61. Reports Q4 transitional Basel III Tier 1 capital ratio 11%. Reports Q4 net charge-off 0.23%.