Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 1036

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 1036
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55 $172 $— $1,042 $— December 31, 2023Days Past Due and Accruing(dollars in millions)Current30-5960-8990+Nonaccrual TotalNonaccrual with no related ACLCommercial and industrial$44,591 $62 $18 $6 $297 $44,974 $30 Commercial real estate28,745 150 59 40 477 29,471 71 Total commercial73,336 212 77 46 774 74,445 101 Residential mortgages30,499 282 118 256 177 31,332 144 Home equity14,640 82 33 — 285 15,040 198 Automobile8,005 144 48 — 61 8,258 7 Education11,732 49 23 2 28 11,834 3 Other retail4,899 49 34 29 39 5,050 — Total retail69,775 606 256 287 590 71,514 352 Total$143,111 $818 $333 $333 $1,364 $145,959 $453 Guaranteed residential mortgages(1)$675 $128 $76 $243 $— $1,122 $— (1) Guaranteed residential mortgages represent loans fully or partially guaranteed by the FHA, VA and USDA, and are included in the amounts presented for Residential mortgages.

Citizens Financial Group, Inc. | 110

Loan Modifications to Borrowers Experiencing Financial DifficultyLoan modifications to borrowers experiencing financial difficulty, or FDMs, are evaluated to determine whether the modification should be accounted for as a new loan or a continuation of the existing loan. The existing loan is derecognized and the restructured loan is accounted for as a new loan if the effective yield on the restructured loan is at least equal to the effective yield for comparable loans with similar collection risk and the modification to the original loan is more than minor. Any unamortized fees and costs from the original loan are recognized in interest income when the new loan is granted. If a loan restructuring does not meet these conditions, the existing loan’s amortized cost basis is carried forward and the modified loan is accounted for as a continuation of the existing loan. FDM