Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 123

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part II, Item 8
Chunk 123
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 June 30, 2025 and 2024, respectively, and $846 million and $816 million for the six months ended June 30, 2025 and 2024, respectively.The following table presents realized gains and losses on the sale of securities:Three Months Ended June 30,Six Months Ended June 30,(dollars in millions)2025202420252024Gains$5 $— $12 $5 Losses— — — — Securities gains, net$5 $— $12 $5 At June 30, 2025 and December 31, 2024, debt securities with a carrying value of $4.0 billion were pledged to secure public deposits, trust funds, FHLB borrowing capacity, repurchase agreements, derivative contracts and for other purposes as required or permitted by law.The Company did not retain any securitization interests resulting from the origination of mortgage loans during the three and six months ended June 30, 2025. Retained interests from the sale and securitization of originated mortgage loans totaled $133 million during the three months ended June 30, 2024. The debt securities received from the issuers, FNMA and FHLMC, include a substantive guarantee and are classified as Debt securities available for sale in the Consolidated Balance Sheets.

Citizens Financial Group, Inc. | 44

ImpairmentThe Company evaluated its existing HTM portfolio as of June 30, 2025 and concluded that 95% of HTM securities met the zero expected credit loss criteria and, therefore, no ACL was recognized. Lifetime expected credit losses on the remainder of the HTM portfolio were determined to be insignificant based on the modeling of the Company’s credit loss position in the securities. The Company monitors the credit exposure through the use of credit quality indicators. For these securities, the Company uses external credit ratings or an internally derived credit rating when an external rating is not available. All securities were determined to be investment grade at June 30, 2025.The following tables present AFS debt securities with fair values below their respective carrying values, disclosed by the length of time the individual securities have been in a continuous unrealized loss position:June 30, 2025Less than 12 Months12 Months or LongerTotal(dollars in millions)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized LossesU.S