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PNC Financial 1Q Profit Rises, Revenue Falls

Provided by Dow Jones By Dave Sebastian PNC Financial Services Group Inc. said its profit for the fiscal first quarter rose on provision recapture driven by improved macroeconomic expectations. The Pittsburgh-based regional bank on Friday posted net income attributable to the company of $1.82 billion, compared with $908 million in the prior year. Earnings were $4.10 a share, compared with $1.95 a share in the same period last year. Analysts polled by FactSet were expecting earnings of $2.72 a share. Provision for credit losses was negative $551 million, compared with positive $914 million in the year-ago period. We recorded a substantial provision recapture, saw improvement in our credit metrics and capital and liquidity are at record levels, Chief Executive Bill Demchak said. We see significant growth opportunities as the economy recovers and rates improve.

Sunburn — The morning read of what s hot in Florida politics — 4 14 21

Sunburn — The morning read of what’s hot in Florida politics — 4.14.21 A reminder: It’s Seersucker Day in the Capitol. — Gov. Ron DeSantis’ COVID-19 response may be getting dragged through the mud by national media, but a new survey shows Florida voters are fans. Polling firm Cygnal surveyed 800 likely general election voters in Florida and found 60% believe DeSantis has done a good job navigating the state through the pandemic. That beats the 58% approval earned by the Joe Biden administration and the 49% approval for Donald Ron DeSantis gets high marks for his COVID-19 response strategy. Floridians aren’t just fans of DeSantis’ plans; they’re fans of the man himself, handing him a plus-17 job approval rating halfway through his first term. The media, which has taken to thrashing DeSantis a few times in recent weeks, earned a minus-14 approval rating from the same set of voters.

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