PNC reports slight drop in year-over-year income

YOUNGSTOWN

The PNC Financial Services Group Inc. on Friday reported 2015 net income of $4.1 billion, or $7.39 per diluted common share, compared with 2014 net income of $4.2 billion, or $7.30 per diluted common share.

Fourth quarter 2015 net income was $1 billion, or $1.87 per diluted common share, compared with $1.1 billion, or $1.90 per diluted common share, for the third quarter of 2015 and $1.1 billion, or $1.84 per diluted common share, for the fourth quarter of 2014.

Fourth quarter results reflected revenue growth over the third quarter in both net interest income and fee income, a continued focus on expense management, and higher loans and deposits.

Loans grew $1.7 billion to $206.7 billion at Dec. 31, 2015 compared with Sept. 30, 2015.