The PNC Financial Services Group Inc., the Pittsburgh-based parent company of PNC Bank, which has branches in the Milwaukee market, today reported third quarter net income of $925 million, or $1.64 per share, up from $834 million, or $1.55 per share, for the same period a year ago.
The company’s provision for credit losses declined to $228 million for the third quarter compared with $256 million for the second quarter.
“PNC reported excellent results for the third quarter with 2012 shaping up to be another good year,” said James Rohr, chairman and chief executive officer of PNC. “On the strength of our products, brand and execution we continued to increase the number of customers we serve resulting in revenue and loan growth. We also remained focused on controlling costs while investing for the future and managing risk and capital. As a result, PNC is well positioned to continue to create shareholder value.”