Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 206

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 206
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, (dollars in millions, except per share data)20252024INTEREST INCOME:Interest and fees on loans and leases$1,829 $2,051 Interest and fees on loans held for sale16 20 Investment securities 418 399 Interest-bearing deposits in banks 89 140 Total interest income2,352 2,610 INTEREST EXPENSE:Deposits 795 987 Short-term borrowed funds8 7 Long-term borrowed funds158 174 Total interest expense961 1,168 Net interest income1,391 1,442 Provision (benefit) for credit losses153 171 Net interest income after provision (benefit) for credit losses1,238 1,271 NONINTEREST INCOME:Service charges and fees109 96 Capital markets fees100 118 Card fees83 86 Wealth fees81 68 Mortgage banking fees59 49 Foreign exchange and derivative products39 36 Letter of credit and loan fees44 42 Securities gains, net7 5 Other income22 17 Total noninterest income544 517 NONINTEREST EXPENSE:Salaries and employee benefits696 691 Equipment and software194 192 Outside services155 158 Occupancy112 114 Other operating expense157 203 Total noninterest expense1,314 1,358 Income before income tax expense 468 430 Income tax expense95 96 NET INCOME$373 $334 Net income available to common stockholders$340 $304 Weighted-average common shares outstanding:Basic438,320,757 461,358,681 Diluted442,200,180 463,797,964 Per common share information:Basic earnings $0.78 $0.66 Diluted earnings 0.77 0.65 

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

Citizens Financial Group, Inc. | 35

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)

Three Months Ended March 31,(dollars in millions)20252024Net income$373 $334 Other comprehensive income (loss):Cash flow hedges:Net unrealized gains (losses) on cash flow hedge derivatives arising during the period, net of income taxes of $76 and ($145),