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PNC » Topics » A sustained weakness or weakening in business and economic conditions generally or specifically in the principal markets in which we do business could adversely affect our business and operating results.

This excerpt taken from the PNC 10-K filed Feb 29, 2008.

A sustained weakness or weakening in business and economic conditions generally or specifically in the principal markets in which we do business could adversely affect our business and operating results.

PNC’s business could be adversely affected to the extent that weaknesses in business and economic conditions have direct or indirect impacts on us or on our customers and counterparties. These conditions could lead, for example, to one or more of the following:

 

  •  

A decrease in the demand for loans and other products and services offered by us;

  •  

A decrease in the value of our loans held for sale;

  •  

A decrease in the usage of unfunded commitments;

  •  

A decrease in customer savings generally and in the demand for savings and investment products offered by us; and

  •  

An increase in the number of customers and counterparties who become delinquent, file for protection under bankruptcy laws, or default on their loans or other obligations to us. An increase in the number of delinquencies, bankruptcies or defaults could result in a higher level of nonperforming assets, net charge-offs, provision for credit losses, and valuation adjustments on loans held for sale.

Although many of our businesses are national and some are international in scope, our retail banking business is concentrated within our retail branch network footprint (Delaware, Indiana, Kentucky, New Jersey, Ohio, Pennsylvania, Washington, D.C., Maryland and Virginia), and thus that business is particularly vulnerable to adverse changes in economic conditions in these regions.


 

9

This excerpt taken from the PNC 10-K filed Mar 1, 2007.

A sustained weakness or weakening in business and economic conditions generally or specifically in the principal markets in which we do business could adversely affect our business and operating results.

PNC’s business could be adversely affected to the extent that weaknesses in business and economic conditions have direct or indirect impacts on us or on our customers and counterparties. These conditions could lead, for example, to one or more of the following:

 

  •  

A decrease in the demand for loans and other products and services offered by us,

  •  

A decrease in the value of our loans held for sale,

  •  

A decrease in the usage of unfunded commitments,

  •  

A decrease in customer savings generally and in the demand for savings and investment products offered by us, and

  •  

An increase in the number of customers and counterparties who become delinquent, file for

 

protection under bankruptcy laws, or default on their loans or other obligations to us. An increase in the number of delinquencies, bankruptcies or defaults could result in a higher level of nonperforming assets, net charge-offs, provision for credit losses, and valuation adjustments on loans held for sale.

Although many of our businesses are national and some are international in scope, our retail banking business is concentrated within our retail branch network footprint (Delaware, Indiana, Kentucky, New Jersey, Ohio, Pennsylvania, and the greater Washington, D.C. area, including Maryland and Virginia), and thus that business is particularly vulnerable to adverse changes in economic conditions in these regions.

EXCERPTS ON THIS PAGE:

10-K
Feb 29, 2008
10-K
Mar 1, 2007

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