Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 236

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 5
Chunk 236
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 unrealized gains and losses on such securities are reported in noninterest income in the Consolidated Statements of Operations.Equity securities primarily consist of FHLB and FRB stock carried at cost and money market mutual fund investments held by the Company’s broker-dealers carried at fair value with changes in fair value recognized in noninterest income. Equity securities are recorded in other assets on the Consolidated Balance Sheets, with those carried at cost reviewed at least annually for impairment. Valuation adjustments, to the extent necessary, are reported in noninterest income in the Consolidated Statements of Operations.

Citizens Financial Group, Inc. | 95

The following table presents the major components of securities at amortized cost and fair value:December 31, 2024December 31, 2023(dollars in millions)Amortized Cost(1)Gross Unrealized GainsGross Unrealized LossesFair ValueAmortized Cost(1)Gross Unrealized GainsGross Unrealized LossesFair ValueU.S. Treasury and other$3,631 $3 ($109)$3,525 $4,493 $26 ($139)$4,380 State and political subdivisions1 — — 1 1 — — 1 Mortgage-backed securities:Federal agencies and U.S. government sponsored entities30,897 33 (2,135)28,795 26,289 45 (1,857)24,477 Other/non-agency273 — (13)260 279 — (24)255 Total mortgage-backed securities31,170 33 (2,148)29,055 26,568 45 (1,881)24,732 Collateralized loan obligations184 — — 184 667 — (3)664 Total debt securities available for sale, at fair value$34,986 $36 ($2,257)$32,765 $31,729 $71 ($2,023)$29,777 Mortgage-backed securities:Federal agencies and U.S. government sponsored entities$8,187 $— ($1,051)$7,136 $8,696 $9 ($818)$7,887 Total mortgage-backed securities8,187 — (1,051)7,136 8,696 9 (818)7,887 Asset-backed securities412