PNC Reports Negative Net Visa Activity in Q3 2026
1 report, 1 independent
Updated Oct 15
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What happened
PNC Financial Services Group, Inc. reported its third-quarter 2026 results, noting significant items related to Visa Inc. that totaled negative $25 million. This figure included negative $36 million in Visa Class B-3 derivative fair value adjustments and an $11 million valuation gain on remaining Visa shares received in the second quarter exchange.
From prnewswire.com
Why it matters
The negative Visa activity, combined with $36 million in integration costs related to the FirstBank acquisition, resulted in a $48 million decline in PNC's net income. The company reported an 18.3% return on average tangible common equity for the quarter.
From prnewswire.com
Who's involved
- Visa Inc.Subject of the negative net activity and derivative adjustments reported by PNC
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The entities involved
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Visa Inc.
American multinational financial services corporation