Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 424

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 424
---
 — 164 Total commercial1 3 34 60 14 129 44 — 285 Residential mortgages— — — 1 1 4 — — 6 Home equity— — — — — 3 8 1 12 Automobile3 34 41 14 12 9 — — 113 Education— 5 19 25 17 45 — — 111 Other retail49 24 8 8 11 9 121 — 230 Total retail52 63 68 48 41 70 129 1 472 Total loans and leases$53 $66 $102 $108 $55 $199 $173 $1 $757 Nonaccrual and Past Due AssetsNonaccrual loans and leases are those on which accrual of interest is suspended. Loans, other than certain retail loans insured by U.S. government agencies, are placed on nonaccrual status when full payment of principal and interest is in doubt, unless the loan is both well-secured and in the process of collection.When a loan is placed on nonaccrual status the accrued interest receivable is reversed against interest income and the amortization of any net deferred fees is suspended. Interest collected on nonaccrual loans and leases for which the ultimate collectability of principal is uncertain are generally applied to reduce the carrying value of the asset first. Otherwise, interest income may be recognized to the extent of the cash received if the loan is deemed fully collectible. A loan or lease may be returned to accrual status if:•no principal and interest payments are due and unpaid, and repayment of the remaining contractual principal and interest is expected;•the loan or lease has otherwise become well-secured and in the process of collection; or•the borrower has made regularly scheduled payments in full for the prior six months and it is reasonably assured that the loan or lease will be brought current within a reasonable period.Upon return to accrual status, interest payments received and applied to the carrying value of a loan or lease while on nonaccrual status are accreted into interest income over the remaining life of the loan or lease using the effective interest method.

Citizens Financial Group, Inc. | 109

Commercial and industrial loans and commercial real estate loans are generally placed on nonaccrual status when contractually past due