PNC Financial Services reported Q1/14 net income of $1.06 billion compared with net income of $995 million for Q1/13. Total revenue for the quarter was $3.78 billion, which was down from $3.96 billion or 5% compared to the same quarter in 2013 primarily as a result of a drop in net interest income.

The bank said the net interest margin of 3.26% was down 55 basis points from 3.81% in the same 2013 quarter primarily due to lower interest-earning asset yields and a decline in purchase accounting accretion.

Net charge-offs for Q1/14 were $186 million, down from $456 million or 59% compared to Q1/13. Provision charges of $94 million were down from $236 million or 60% lower than the same quarter one-year earlier as overall credit quality continued to improve.

“PNC had a successful first quarter — our fourth straight quarter with net income of $1 billion or more,” said William S. Demchak, president and chief executive officer. “We grew loans and deposits, and we lowered expenses even as we continue to make investments across our businesses to enhance the customer experience and become more efficient.”