Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 847

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 5
Chunk 847
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 1 (9)404 488 — (25)463 Total debt securities held to maturity$8,599 $1 ($1,060)$7,540 $9,184 $9 ($843)$8,350 Equity securities, at cost(2)$710 $— $— $710 $869 $— $— $869 Equity securities, at fair value(2)220 — — 220 173 — — 173 (1) Excludes portfolio level basis adjustments of $(75) million and $60 million, respectively, for securities designated in active fair value hedge relationships under the portfolio layer method at December 31, 2024 and 2023.(2) Included in other assets in the Consolidated Balance Sheets.Accrued interest receivable on debt securities totaled $125 million as of December 31, 2024 and 2023 and is included in other assets in the Consolidated Balance Sheets. 

Citizens Financial Group, Inc. | 96

The following table presents the amortized cost and fair value of debt securities by contractual maturity as of December 31, 2024. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without incurring penalties.Distribution of Maturities(dollars in millions)1 Year                or LessAfter 1 Year through 5 YearsAfter 5 Years through 10 YearsAfter 10       YearsTotalAmortized cost:U.S. Treasury and other$— $3,115 $516 $— $3,631 State and political subdivisions— — — 1 1 Mortgage-backed securities:Federal agencies and U.S. government sponsored entities— 2,221 1,151 27,525 30,897 Other/non-agency— — — 273 273 Collateralized loan obligations— — 100 84 184 Total debt securities available for sale— 5,336 1,767 27,883 34,986 Mortgage-backed securities:Federal agencies and U.S. government sponsored entities— — — 8,187 8,187 Asset-backed securities— 412 — — 412 Total debt securities held to maturity— 412 — 8,187 8,599