PNC delivered a solid first quarter of 2025 with net income of $1.481 billion and diluted EPS of $3.51, supported by a resilient balance sheet and disciplined expense management. Total revenue reached approximately $5.5 billion, with net interest income (NII) of about $3.5 billion and fee-driven non-interest income contributing the balance. The quarter featured modest period-end loan growth (spot loans up 1% QoQ; C&I loans up 3% YoY; average loans $317 billion) and a 50.3% loan utilization metric, signaling measured demand for working capital even as the environment remained uncertain due to tariffs and macro volatility. PNC’s balance sheet remained well-capitalized (CET1 ~10.6% on a pro forma basis; tangible book value per share of $100.40, up 5% QoQ), and the company continued to deploy capital to shareholders (approx. $800 million returned via dividends and share buybacks). Management reaffirmed full-year guidance, projecting mid-single-digit revenue growth (about 6%), with NII up 6-7% and non-interest income up ~5%, while expense growth remains modest (~1%). The firm also highlighted strategic leadership enhancements (promotion of Mark Wiedman to President) and ongoing capital management initiatives in a volatile rate environment. The earnings call underscored a pragmatic stance on tariffs, with the caveat that the outlook remains fluid; management emphasized balance sheet strength, an ability to deliver operating leverage, and a disciplined approach to cost control and capital allocation.