Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 52

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part II, Item 8
Chunk 52
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2025 and 2024, respectively.The following table presents realized gains and losses on the sale of securities:Three Months Ended March 31,(dollars in millions)20252024Gains$7 $5 Losses— — Securities gains, net$7 $5 At March 31, 2025 and December 31, 2024, debt securities with a carrying value of $3.6 billion and $4.0 billion, respectively, 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.

Citizens Financial Group, Inc. | 40

ImpairmentThe Company evaluated its existing HTM portfolio as of March 31, 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 March 31, 2025.The following tables present AFS debt securities with fair values below their respective carrying values, separated by the duration the securities have been in a continuous unrealized loss position:March 31, 2025Less than 12 Months12 Months or LongerTotal(dollars in millions)Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized LossesU.S. Treasury and other$— $— $2,582 ($91)$2,582 ($91)Mortgage-backed securities:Federal agencies and U.S. government sponsored entities6,836 (189)14,089 (1,583)20,925 (1,772)Other/non-agency— — 261 (11)261 (11)Total mortgage-backed securities6,836 (189)14,350 (1,594)21,186 (1,783)Total$6,836 ($189)$16,932 ($1,685)$23,768 ($1,874)December 31, 2024Less than 12 Months12 Months or