Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 19

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 3
Chunk 19
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 — 412 3.81 Total debt securities held to maturity— — 412 3.81 — — 8,187 2.30 8,599 2.37 Total debt securities$— — %$5,748 2.98 %$1,767 3.45 %$36,070 3.74 %$43,585 3.63 %

(1) Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations with or without incurring penalties.

(2) The weighted-average yield is computed based on a constant effective interest rate over the contractual life of each security and considers the contractual

   coupon, amortization of premiums and accretion of discounts. Yields exclude the impact of related hedging derivatives.

Loans and Leases

Table 9: Composition of Loans and Leases, Excluding LHFSDecember 31,(dollars in millions)20242023ChangePercentCommercial and industrial$42,551 $44,974 ($2,423)(5)%Commercial real estate27,225 29,471 (2,246)(8)Total commercial69,776 74,445 (4,669)(6)Residential mortgages32,726 31,332 1,394 4 Home equity16,495 15,040 1,455 10 Automobile4,744 8,258 (3,514)(43)Education10,812 11,834 (1,022)(9)Other retail4,650 5,050 (400)(8)Total retail69,427 71,514 (2,087)(3)Total loans and leases $139,203 $145,959 ($6,756)(5 %)

See Note 1 for a description of changes made to the Company’s loans and leases presentation during 2024.

The decrease in total loans and leases as of December 31, 2024 compared to December 31, 2023 reflects a $4.7 billion decrease in commercial given market conditions resulting in relatively low client demand and lower line of credit utilization, partially offset by growth in the Private Bank. Retail decreased $2.1 billion, primarily driven by planned Non-Core portfolio runoff, partially offset by growth in home equity and mortgage, including the Private Bank.

Citizens Financial Group, Inc