"Our origination performance didn't meet our expectations," said PNC CEO-elect Bill Demchak on...

|About: PNC Financial Services G... (PNC)|By:, SA News Editor

"Our origination performance didn't meet our expectations," said PNC CEO-elect Bill Demchak on the earnings call (transcript) - a familiar tune for the banks as the fast money from the refinance boom ends. One year since the RBC branch acquisition, PNC is moving quickly to build its Southeast franchise - its loan book growing at a 20% annualized rate in Q1, despite the runoff in noncore loans acquired (presentation slides). In a banking sector lit up bright red, PNC is flat. (earnings)