Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 223

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 223
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89 %

(1) Represents the most directly comparable GAAP financial measure to net interest margin on an FTE basis and is calculated based on annualized net interest income divided by average interest-earnings assets.

(2) FTE basis financial measures and ratios are adjusted for the tax-exempt status of income from certain assets held by the Company using the federal statutory tax rate of 21% and are considered non-GAAP financial measures. We believe this allows management to better assess the comparability of revenue from both taxable and tax-exempt sources.

(3) Calculated based on annualized net interest income on an FTE basis divided by average interest-earnings assets.

Citizens Financial Group, Inc. | 35

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

PageConsolidated Balance Sheets37Consolidated Statements of Operations38Consolidated Statements of Comprehensive Income39Consolidated Statements of Changes in Stockholders’ Equity40Consolidated Statements of Cash Flows42Notes to Consolidated Financial Statements43Note 1 - Significant Accounting Policies43Note 2 - Securities43Note 3 - Loans and Leases46Note 4 - Credit Quality and the Allowance for Credit Losses46Note 5 - Mortgage Banking and Other Serviced Loans58Note 6 - Variable Interest Entities59Note 7 - Borrowed Funds62Note 8 - Derivatives63Note 9 - Accumulated Other Comprehensive Income (Loss)66Note 10 - Stockholders’ Equity67Note 11 - Commitments and Contingencies68Note 12 - Fair Value Measurements70Note 13 - Noninterest Income74Note 14 - Other Operating Expense75Note 15 - Earnings Per Share76Note 16 - Business Segments76

Citizens Financial Group, Inc. | 36

CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(dollars in millions, except par value)June 30, 2025December 31, 2024ASSETS:Cash and due from banks$1,107 $1,409 Interest-bearing cash and due from banks7,441 9,192 Interest-bearing deposits in banks(1)680 635 Debt securities available for sale, at fair value (including $114 and $152 pledged to creditors, respectively)(2)34,658 32,765 Debt securities held to maturity (fair value of $7,379 and $7,540, respectively, and including $69