Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 232

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 232
---
 Interest Margin on an FTE Basis (non-GAAP) Three Months Ended September 30,Nine Months Ended September 30,(dollars in millions)2025202420252024Net interest income (annualized)$5,902 $5,447 $5,771 $5,638 Average interest-earning assets197,598 197,164 196,334 198,561 Net interest margin(1)2.99 %2.76 %2.94 %2.84 %Net interest income$1,488 $1,369 $4,316 $4,221 FTE adjustment4 4 12 13 Net interest income on an FTE basis (non-GAAP)(2)$1,492 $1,373 $4,328 $4,234 Net interest income on an FTE basis (annualized) (non-GAAP)(2)5,919 5,465 5,787 5,656 Net interest margin on an FTE basis (non-GAAP)(2)(3)3.00 %2.77 %2.95 %2.85 %

(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. | 36

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

PageConsolidated Balance Sheets38Consolidated Statements of Operations39Consolidated Statements of Comprehensive Income40Consolidated Statements of Changes in Stockholders’ Equity41Consolidated Statements of Cash Flows43Notes to Consolidated Financial Statements44Note 1 - Significant Accounting Policies44Note 2 - Securities44Note 3 - Loans and Leases47Note 4 - Credit Quality and the Allowance for Credit Losses47Note 5 - Mortgage Banking and Other Serviced Loans59Note