Tuesday, July 7, 2020

Excluding the Giant PNC Financial Services Group, the Remaining 41 Pennsylvania Banks Total Pretax Earnings in the 1Q of 2020 Declined By 56% From the 1Q of 2019. PNC Financial Services Group, Which Comprised 84% of the Total Pretax Income of all 42 Pennsylvania Banks Combined, Saw Its Pretax Earnings Decline By 30% in the 1Q 2020.

From a review of Company SEC filings, I found 42 Banks headquartered in Pennsylvania which filed their 1Q 2020 financial statements with the SEC.

The table below shows the US GAAP Pretax Income (Loss) From Continuing Operations for the first quarter of both 2020 and 2019 for each of these 42 Banks.
  US US
GAAP GAAP
Pretax Pretax
  Income Income
(Loss) (Loss) Better
  First First (Worse)
    Quarter Quarter %
Pennsylvania Banks   2020 2019  Change
All Cos Filing 1Q 2020 Financial Statements With SEC City HQs mils $ mils $
PNC Financial Services Group Pittsburgh         1,060.000         1,519.000 -30%
FNB Corp Pittsburgh              58.000            116.000
Fulton Financial Lancaster              28.080              67.142
TriState Capital Holdings Pittsburgh              16.101              17.146
S&T Bancorp Indiana              15.998              27.150
CNB Financial Corp Clearfield              10.537              11.430
Northwest Bancshares Warren                8.956              31.753
Orrstown Financial Services Shippensburg                6.107                3.334
Peoples Financial Services Group Scranton                5.960                7.173
First Commonwealth Financial Indiana                5.759              30.533
Citizens Financial Services Inc Mansfield                5.420                5.226
Customers Bancorp Wyomissing                5.006              20.271
Citizens & Northern Corp Wellsboro                4.982                6.071
Mid Penn Bancorp Millersburg                4.468                4.927
ESSA Bancorp Stroudsburg                4.113                3.489
Penns Woods Bancorp Jersey Shore                3.738                4.758
Norwood Financial Corp Honesdale                3.560                3.733
Prudential Bancorp Philadelphia                3.496                2.720
Meridian Corp Malvern                3.271                2.588
Fidelity D & D Bancorp Dunmore                3.157                3.342
Embassy Bancorp Bethlehem                3.039                3.108
ENB Financial Ephrate                2.523                3.065
FNCB Bancorp Dumore                2.515                3.190
Malvern Bancorp Paoli                2.494                2.377
First Keystone Corp Berwick                2.250                2.381
AmeriServ Financial Johnstown                1.775                2.369
Franklin Financial Services Chambersburg                1.613                3.683
Emclair Financial Emlenton                1.433                2.538
Standard AVB Financial Monroeville                1.304                2.712
CB Financial Services Carmichaels                0.902                3.643
Juniata Valley Financial Mifflintown                0.879                1.403
WVS Financial Corp Pittsburgh                0.843                1.012
Riverview Financial Corp Harrisburg                0.689               (0.985)
Quaint Oak Bancorp Southampton                0.608                0.587
SSB Bancorp Pittsburgh                0.254                0.146
Univest Financial Corp Souderton                0.232              19.578
HV Bancorp Doylestown                0.197                0.038
QNB Corp Quakertown               (0.186)                4.196
Republic First Bancorp Philadelphia               (0.923)                0.518
ACNB Corp Gettysburg               (1.836)                7.194
Codorus Valley Bancorp York               (3.964)                5.143
Bryn Mawr Bank Bryn Mawr             (14.120)              13.440
Total 41 Pennsylvania Banks … No PNC Financial Services Group            199.230            450.122 -56%
Total all 42 Pennsylvania Banks         1,259.230         1,969.122 -36%



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