PNC Financial flat premarket after beating on bottom line

• Q4 net income of $1.047B or $1.97 per share vs. $1.022B and $1.87 a year ago.
• Net interest income of $2.130B up 2% Y/Y, with NIM of 2.69% down one basis point.
• Noninterest income of $1.744B down 1% Y/Y. Asset management fees flat; consumer services flat; corporate services flat; residential mortgage up 26%.
• Noninterest expense of $2.441B up 2% Y/Y.
• Average loans of $210.9B up 2% Y/Y; deposits of $257.1B up 4%.
• NPLs of $2.144B up 1% Y/Y. Provisions of $67M down from $74M. Allowance for losses of $2.589B down 5%.
• CC at 11 ET
• Previously: PNC Financial beats by $0.13, revenue in-line (Jan. 13)
• PNC flat premarket