# EDGAR Filing Document

**Accession Number:** 0000759944
**File Stem:** 0000759944-26-000020
**Filing Date:** 2026-1
**Character Count:** 216993
**Document Hash:** adf6f831e4ed384a6906da706b82102a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000759944-26-000020.hdr.sgml**: 20260122

**ACCESSION NUMBER**: 0000759944-26-000020

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20260122

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260122

**DATE AS OF CHANGE**: 20260122

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIZENS FINANCIAL GROUP INC/RI
- **CENTRAL INDEX KEY:** 0000759944
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 050412693
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36636
- **FILM NUMBER:** 26549871

**BUSINESS ADDRESS:**
- **STREET 1:** 1 CITIZENS PLAZA
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02903
- **BUSINESS PHONE:** 2039006715

**MAIL ADDRESS:**
- **STREET 1:** 1 CITIZENS PLAZA
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02903

?xml version='1.0' encoding='ASCII'? cfg-20260122

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): January 22, 2026

![citizenslogoa05.jpg](cfg-20260122_g1.jpg)

(Exact name of the registrant as specified in its charter)

---

| | | | |
|:---|:---|:---|:---|
| Delaware | Delaware | 001-36636 | 05-0412693 |
| (State or Other Jurisdiction of<br>Incorporation) | (State or Other Jurisdiction of<br>Incorporation) | (Commission File Number) | (I.R.S. Employer<br>Identification Number) |
| One Citizens Plaza | One Citizens Plaza | | |
| Providence, | RI | | 02903 |
| (Address of principal executive offices) | (Address of principal executive offices) | | (Zip Code) |

---

Registrant's telephone number, including area code: (203) 900-6715

Not Applicable

(Former name or former address, if changed since last report.)

**Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:**

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| **Common stock, $0.01 par value per share** | **CFG** | **New York Stock Exchange** |
| **Depositary Shares, each representing a 1/40th interest in a share of 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E** | **CFG PrE** | **New York Stock Exchange** |
| **Depositary Shares, each representing a 1/40th interest in a share of 7.375% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series H** | **CFG PrH** | **New York Stock Exchange** |
| **Depositary Shares, each representing a 1/40th interest in a share of 6.500% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I** | **CFG PrI** | **New York Stock Exchange** |

---

------

**Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).**

**Emerging growth company** ☐

**If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.** ☐

**Item 8.01 Other Events.**

On January 21, 2026, Citizens Financial Group, Inc. (the "Company") announced its fourth quarter and full year 2025 earnings. The Company's earnings results and financial supplement are being filed as Exhibits 99.1 and 99.2, respectively.

**Item 9.01 Financial Statements and Exhibits.**

---

| | | |
|:---|:---|:---|
| | **<u>Exhibit Number</u>** | **<u>Description</u>** |
| **(d)** | Exhibit 99.1 | <u>[Citizens Financial Group, Inc.](a4q25postearningsrelease.htm)[earnings results for fourth quarter and full year](a4q25postearningsrelease.htm)[202](a4q25postearningsrelease.htm)[5](a4q25postearningsrelease.htm)</u> |
|  | Exhibit 99.2 | <u>[Citizens Financial Group, Inc. financial supplement for fourth quarter and full year 2025](q425financialsupplement.htm)</u> |
|  | Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| CITIZENS FINANCIAL GROUP, INC. | CITIZENS FINANCIAL GROUP, INC. |
| By: | /s/ Aunoy Banerjee |
|  | Aunoy Banerjee |
|  | Executive Vice President and Chief Financial Officer |

---

Date: January 22, 2026

## Exhibit 99.1

**Exhibit 99.1**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Key Financial Data\*** | | **4Q25** | **3Q25** | **4Q24** | | **Fourth Quarter 2025 Highlights**  |
| **Income <br>Statement** |  | *($s in millions)* |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  | Total revenue |  | $2157 | $2118 | $1986 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  | Pre-provision profit |  | 814 | 783 | 670 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  | Underlying pre-provision profit |  | 814 | 783 | 684 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  | Provision for credit losses |  | 137 | 154 | 162 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  | Net income |  | 528 | 494 | 401 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  | Underlying net income |  | 528 | 494 | 412 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | *($s in billions)* |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | Period-end loans and leases |  | $142.7 | $140.9 | $139.2 | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | Average loans and leases |  | 141.8 | 140.0 | 140.9 | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | Period-end deposits |  | 183.3 | 180.0 | 174.8 | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** | Average deposits |  | 179.9 | 176.0 | 174.3 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** | Period-end loan-to-deposit ratio |  | 77.8% | 78.3% | 79.6% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** | NCO ratio |  | 0.43% | 0.46% | 0.53% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | Diluted EPS |  | $1.13 | $1.05 | $0.83 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | Underlying Diluted EPS |  | 1.13 | 1.05 | 0.85 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | ROTCE |  | 12.2% | 11.7% | 10.4% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | Underlying ROTCE |  | 12.2 | 11.7 | 10.7 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | Net interest margin, FTE |  | 3.07 | 3.00 | 2.87 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | Efficiency ratio |  | 62.2 | 63.0 | 66.3 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | Underlying efficiency ratio |  | 62.2 | 63.0 | 65.4 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | CET1 |  | 10.6% | 10.7% | 10.8% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| **Financial Metrics** |  | TBV/Share |  | $38.07 | $36.73 | $32.34 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $1.13, up 8% QoQ; ROTCE of 12.2%<br>–Continued strong Private Bank progress, contributing $0.10 to EPS, up $0.02 QoQ<br>■PPNR of $814 million, up 4% QoQ, 19% YoY <br>–NII up 3.3% QoQ as NIM continues to expand, up 7 bps to 3.07% <br>–Strong fee performance led by Wealth, up 5% QoQ and 31% YoY, and Capital Markets, up 16% YoY<br>–Positive operating leverage of 1.3% QoQ; 5.2% YoY <br>–Efficiency ratio improved 79 bps to 62.2%<br>■Loans up 1% QoQ on a spot and average basis with growth led by Private Bank and Commercial<br>–Lower Non-Core runoff and balance sheet optimization impacts<br>■Continuing favorable credit trends; net charge-offs of 43 bps, down 3 bps QoQ<br>■Strong ACL coverage of 1.53%, down slightly QoQ, reflecting improved loan mix <br>■Average deposits up 2% QoQ driven by growth in Private Bank and Commercial <br>–Private Bank spot deposits of $14.5 billion<br>–Interest-bearing deposit costs down 15 bps QoQ<br>■Strong liquidity profile; spot LDR of 77.8% <br>■Strong CET1 ratio of 10.6%; 9.5% adjusted for AOCI opt-out removal <br>■TBV/share of $38.07, up 4% QoQ |  |  |  |  |  |  |  |  |

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| **Notable Items** | | **4Q25** | **4Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** |
| **Notable Items** | *($s in millions except per share data)* | **Pre-tax $** | **EPS** | **Pre-tax $** | **EPS** | **Pre-tax $** | **EPS** |
| **Notable Items** | Integration-related | $— | $— | $— | $— | $(2) | $— |
| **Notable Items** | TOP/Other |  |  |  |  | (12) | (0.02) |
| **Notable Items** | &nbsp;&nbsp;Total | $— | $— | $— | $— | $(14) | $(0.02) |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |

---

Citizens also announced that its board of directors declared a quarterly common stock dividend of $0.46 per share. The dividend is payable on February 18, 2026 to shareholders of record at the close of business on February 4, 2026.

\*Results presented on an Underlying basis are non-GAAP Financial Measures. See page 15 for additional information on our use of Non-GAAP Financial Measures.

------

**Citizens Financial Group, Inc.**

***Earnings highlights***<sup>(1)</sup>***:*** 

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Full Year** | **Full Year** | **Full Year** | **Full Year** |
| | | | | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | | | **2025 change from 2024** | **2025 change from 2024** |
|<br>*($s in millions, except per share data)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2025 change from 2024** | **2025 change from 2024** |
| **Earnings** |  |  |  | **$/bps/%** | **$/bps/%** | **%** | **$/bps/%** | **$/bps/%** | **%** |  |  | **$/bps** | **$/bps** |
| Net interest income | $1537 | $1488 | $1412 | $49 |  | 3% | $125 |  | 9% | $5853 | $5633 | $220 |  |
| Noninterest income | 620 | 630 | 574 | (10) |  | (2) | 46 |  | 8 | 2394 | 2176 | 218 |  |
| Total revenue | 2157 | 2118 | 1986 | 39 |  | 2 | 171 |  | 9 | 8247 | 7809 | 438 |  |
| Noninterest expense | 1343 | 1335 | 1316 | 8 |  | 1 | 27 |  | 2 | 5311 | 5234 | 77 |  |
| Pre-provision profit | 814 | 783 | 670 | 31 |  | 4 | 144 |  | 21 | 2936 | 2575 | 361 |  |
| Provision for credit losses | 137 | 154 | 162 | (17) |  | (11) | (25) |  | (15) | 608 | 687 | (79) |  |
| Net income | 528 | 494 | 401 | 34 |  | 7 | 127 |  | 32 | 1831 | 1509 | 322 |  |
| Preferred dividends/other<sup>(2)</sup> | 39 | 37 | 34 | 2 |  | 5 | 5 |  | 15 | 143 | 137 | 6 |  |
| Net income available to common stockholders | $489 | $457 | $367 | $32 |  | 7% | $122 |  | 33% | $1688 | $1372 | $316 |  |
| After-tax notable Items |  |  | 11 |  |  |  | (11) |  | (100) |  | 98 | (98) |  |
| Underlying net income | $528 | $494 | $412 | $34 |  | 7% | $116 |  | 28% | $1831 | $1607 | $224 |  |
| Underlying net income available to common stockholders | 489 | 457 | 378 | 32 |  | 7 | 111 |  | 29 | 1688 | 1470 | 218 |  |
| **Average common shares outstanding** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic (in millions) | 429.5 | 431.4 | 440.8 | (1.9) |  |  | (11.3) |  | (3) | 433.2 | 450.7 | (17.5) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted (in millions) | 434.1 | 435.5 | 444.8 | (1.4) |  |  | (10.8) |  | (2) | 436.9 | 453.5 | (16.6) |  |
| Diluted earnings per share | $1.13 | $1.05 | $0.83 | $0.08 |  | 8% | $0.30 |  | 36% | $3.86 | $3.03 | $0.83 |  |
| Underlying diluted earnings per share | 1.13 | 1.05 | 0.85 | 0.08 |  | 8 | 0.28 |  | 33 | 3.86 | 3.24 | $0.62 |  |
| **Performance metrics** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 3.06% | 2.99% | 2.86% | 7 | bps |  | 20 | bps |  | 2.97% | 2.84% | 13 | bps |
| Net interest margin, FTE | 3.07 | 3.00 | 2.87 | 7 |  |  | 20 |  |  | 2.98 | 2.85 | 13 |  |
| Effective income tax rate | 22.0 | 21.4 | 21.0 | 65 |  |  | 99 |  |  | 21.3 | 20.1 | 128 |  |
| Efficiency ratio | 62.2 | 63.0 | 66.3 | (79) |  |  | (403) |  |  | 64.4 | 67.0 | (263) |  |
| Underlying efficiency ratio | 62.2 | 63.0 | 65.4 | (79) |  |  | (312) |  |  | 64.4 | 65.2 | (75) |  |
| Return on average tangible common equity | 12.2 | 11.7 | 10.4 | 43 |  |  | 182 |  |  | 11.2 | 9.8 | 139 |  |
| Underlying return on average tangible common equity | 12.2 | 11.7 | 10.7 | 43 |  |  | 152 |  |  | 11.2 | 10.5 | 69 |  |
| Return on average total tangible assets | 0.98 | 0.93 | 0.76 | 5 |  |  | 22 |  |  | 0.87 | 0.71 | 16 |  |
| Underlying return on average total tangible assets | 0.98% | 0.93% | 0.78% | 5 | bps |  | 20 | bps |  | 0.87% | 0.76% | 11 | bps |
| **Capital adequacy**<sup>(34)</sup> |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common equity tier 1 capital ratio | 10.6% | 10.7% | 10.8% |  |  |  |  |  |  |  |  |  |  |
| Total capital ratio | 13.8 | 13.9 | 14.0 |  |  |  |  |  |  |  |  |  |  |
| Tier 1 leverage ratio | 9.4 | 9.4 | 9.4 |  |  |  |  |  |  |  |  |  |  |
| Tangible common equity ratio | 7.5 | 7.4 | 6.8 |  |  |  |  |  |  |  |  |  |  |
| Allowance for credit losses to loans and leases | 1.53% | 1.56% | 1.62% | (3) | bps |  | (9) | bps |  |  |  |  |  |
| **Asset quality**<sup>(4)</sup> |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Nonaccrual loans and leases to loans and leases | 1.05% | 1.08% | 1.20% | (3) | bp |  | (15) | bps |  |  |  |  |  |
| Allowance for credit losses to nonaccrual loans and leases | 145 | 145 | 136 |  | % |  | 9 | % |  |  |  |  |  |
| Net charge-offs as a % of average loans and leases | 0.43% | 0.46% | 0.53% | (3) | bps |  | (10) | bps |  | 0.49% | 0.52% | (3) | bps |

---

<sup>(1)</sup> Unless otherwise noted, references to balance sheet items are on an average basis, loans exclude loans held for sale, earnings per share

&nbsp;&nbsp;&nbsp;&nbsp;represent fully diluted per common share and references to NIM are on a FTE basis.

<sup>(2)</sup> 3Q25 includes preferred stock early redemption costs of $5 million.

<sup>(3)</sup> Current reporting-period regulatory capital ratios are preliminary.

<sup>(4)</sup> Capital adequacy and asset-quality ratios calculated on a period-end basis, except net charge-offs.

------

**Citizens Financial Group, Inc.**

The following table provides information on Underlying results which exclude the impact of notable items, recorded in 2024.

***Underlying results:***

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Full Year** | **Full Year** | **Full Year** | **Full Year** |
| | | | | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | | | **2025 Change** | **2025 Change** |
|<br>*($s in millions, except per share data)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **from 2024** | **from 2024** |
|  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |  |  | **%** | **%** |
| Net interest income | $1537 | $1488 | $1412 | $49 |  | 3% | $125 |  | 9% | $5853 | $5633 | 4 | % |
| Noninterest income | 620 | 630 | 564 | (10) |  | (2) | 56 |  | 10 | 2394 | 2161 | 11 |  |
| Total revenue | $2157 | $2118 | $1976 | $39 |  | 2% | $181 |  | 9% | $8247 | $7794 | 6 | % |
| Noninterest expense | 1343 | 1335 | 1292 | 8 |  | 1 | 51 |  | 4 | 5311 | 5078 | 5 |  |
| Provision for credit losses | 137 | 154 | 162 | (17) |  | (11) | (25) |  | (15) | 608 | 687 | (11) |  |
| Net income available to common stockholders | $489 | $457 | $378 | $32 |  | 7% | $111 |  | 29% | $1688 | $1470 | 15 | % |
| **Performance metrics** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| EPS | $1.13 | $1.05 | $0.85 | $0.08 |  | 8% | $0.28 |  | 33% | $3.86 | $3.24 | 19 | % |
| Efficiency ratio | 62.2% | 63.0% | 65.4% | (79) | bps |  | (312) | bps |  | 64.4% | 65.2% | (75) |  |
| Return on average tangible common equity | 12.2% | 11.7% | 10.7% | 43 | bps |  | 152 | bps |  | 11.2% | 10.5% | 69 | bps |

---

***Consolidated balance sheet summary***<sup>(1)</sup>***:***

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** |
|<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** |
|  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| Total assets | $226351 | $222747 | $217521 | $3604 |  | 2% | $8830 |  | 4% |
| Total loans and leases | 142692 | 140870 | 139203 | 1822 |  | 1 | 3489 |  | 3 |
| Total loans held for sale | 1198 | 1334 | 858 | (136) |  | (10) | 340 |  | 40 |
| Deposits | 183313 | 180011 | 174776 | 3302 |  | 2 | 8537 |  | 5 |
| Stockholders' equity | 26317 | 25829 | 24254 | 488 |  | 2 | 2063 |  | 9 |
| Stockholders' common equity | 24206 | 23718 | 22141 | 488 |  | 2 | 2065 |  | 9 |
| Tangible common equity | $16341 | $15848 | $14246 | $493 |  | 3% | $2095 |  | 15% |
| Loan-to-deposit ratio (period-end)<sup>(2)</sup> | 77.8% | 78.3% | 79.6% | (42) | bps |  | (181) | bps |  |
| Loan-to-deposit ratio (average)<sup>(2)</sup> | 78.8% | 79.6% | 80.9% | (75) | bps |  | (206) | bps |  |
| (1) Represents period-end unless otherwise noted. | (1) Represents period-end unless otherwise noted. | (1) Represents period-end unless otherwise noted. | (1) Represents period-end unless otherwise noted. |  |  |  |  |  |  |
| (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. |

---

------

**Citizens Financial Group, Inc.**

***Notable items:***

There are no notable items in 2025, as our intention going forward is to limit these to those items of greatest significance. Fourth quarter 2024 and full year 2024 results reflect notable items primarily related to integration costs associated with recent acquisitions, as well as TOP revenue and efficiency initiatives. These notable items were excluded from reported results to better reflect Underlying operating results.

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **4Q25** | **4Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **FY 2025** | **FY 2025** | **FY 2024** | **FY 2024** |
| **Notable items - Integration-related**<br>*($s in millions, except per share data)* | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries & benefits | $— | $— | $— | $— | $(2) | $(1) | $— | $— | $(9) | $(6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment and software |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services |  |  |  |  |  |  |  |  | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | $— | $— | $— | $— | $(2) | $(1) | $— | $— | $(10) | $(7) |
| **EPS Impact - Noninterest expense** |  | $— |  | $— |  | $— |  | $— |  | $(0.02) |
| Total Integration-related | $— | $— | $— | $— | $(2) | $(1) | $— | $— | $(10) | $(7) |
| **EPS Impact - Total Integration-related** |  | $— |  | $— |  | $— |  | $— |  | $(0.02) |
| **Other notable items - TOP & Other** | **4Q25** | **4Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **FY 2025** | **FY 2025** | **FY 2024** | **FY 2024** |
| *($s in millions, except per share data)* | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** |
| Tax notable items | $— | $— | $— | $— | $— | $— | $— | $— | $— | $7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Noninterest income |  |  |  |  | 10 | 8 |  |  | 15 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries & benefits |  |  |  |  | (15) | (12) |  |  | (37) | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment and software |  |  |  |  | (3) | (2) |  |  | (17) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services |  |  |  |  | (4) | (3) |  |  | (27) | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy |  |  |  |  | (5) | (4) |  |  | (19) | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;FDIC special assessment<sup>(1)</sup> |  |  |  |  | 9 | 6 |  |  | (31) | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense |  |  |  |  | (4) | (3) |  |  | (15) | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | $— | $— | $— | $— | $(22) | $(18) | $— | $— | $(146) | $(109) |
| Total Other Notable Items | $— | $— | $— | $— | $(12) | $(10) | $— | $— | $(131) | $(91) |
| **EPS Impact - Other Notable Items** |  | $— |  | $— |  | $(0.02) |  | $— |  | $(0.19) |
| Total Notable Items | $— | $— | $— | $— | $(14) | $(11) | $— | $— | $(141) | $(98) |
| **Total EPS Impact** |  | $— |  | $— |  | $(0.02) |  | $— |  | $(0.21) |
| <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $0.01 and $(0.05) for fourth quarter 2024 and full year 2024 respectively.  |

---

------

**Citizens Financial Group, Inc.**

***Discussion of results:***

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** |
| **Net interest income**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** |
|  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| **Interest income:** |  |  |  |  |  |  |  |  |  |
| Interest and fees on loans and leases and loans held for sale | $1923 | $1928 | $1931 | $(5) |  | —% | $(8) |  | —% |
| Investment securities | 434 | 433 | 419 | 1 |  |  | 15 |  | 4 |
| Interest-bearing deposits in banks | 89 | 97 | 112 | (8) |  | (8) | (23) |  | (21) |
| Total interest income | $2446 | $2458 | $2462 | $(12) |  | —% | $(16) |  | (1)% |
| **Interest expense:** |  |  |  |  |  |  |  |  |  |
| Deposits | $781 | $816 | $883 | $(35) |  | (4)% | $(102) |  | (12)% |
| Short-term borrowed funds |  | 5 | 1 | (5) |  | (100) | (1) |  | (100) |
| Long-term borrowed funds | 128 | 149 | 166 | (21) |  | (14) | (38) |  | (23) |
| Total interest expense | $909 | $970 | $1050 | $(61) |  | (6)% | $(141) |  | (13)% |
| Net interest income | $1537 | $1488 | $1412 | $49 |  | 3% | $125 |  | 9% |
| Net interest margin, FTE | 3.07% | 3.00% | 2.87% | 7 | bps |  | 20 | bps |  |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

Net interest income of $1.5 billion increased 3.3%, reflecting a higher net interest margin along with a 1% increase in average interest-earning assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin of 3.07% increased 7 basis points, reflecting the benefit of Non-Core runoff and lower terminated swap impacts, fixed-rate asset repricing and improved funding costs, partially offset by lower asset yields.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Interest-bearing deposit costs decreased 15 basis points to 2.20%; total deposit costs decreased 12 basis points to 1.72%; total cost of funds decreased 15 basis points to 1.90%.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

Net interest income of $1.5 billion increased 9%, primarily reflecting a higher net interest margin.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin of 3.07% increased 20 basis points, largely driven by the benefit of Non-Core runoff and terminated swap impacts, as well as fixed-rate asset repricing benefits, partially offset by lower asset yields.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** |
| **Noninterest Income**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** |
|  |  |  |  | $**%** | $**%** |
| Service charges and fees | $112 | $112 | $109 | —% | 3% |
| Capital markets fees | 140 | 166 | 121 | (16) | 16 |
| Wealth fees | 98 | 93 | 75 | 5 | 31 |
| Card fees | 86 | 87 | 97 | (1) | (11) |
| Mortgage banking fees | 52 | 49 | 60 | 6 | (13) |
| Foreign exchange and derivative products | 34 | 42 | 35 | (19) | (3) |
| Letter of credit and loan fees | 49 | 48 | 45 | 2 | 9 |
| Securities gains, net | 7 | 2 | 4 | 250 | 75 |
| Other income<sup>(1)</sup> | 42 | 31 | 28 | 35 | 50 |
| Noninterest income | $620 | $630 | $574 | (2)% | 8% |
| Underlying, as applicable |  |  |  |  |  |
| Card fees | $86 | $87 | $86 | (1) |  |
| Other income<sup>(1)</sup> | $42 | $31 | $29 | 35 | 45 |
| Underlying noninterest income | $620 | $630 | $564 | (2)% | 10% |
| (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

Noninterest income of $620 million decreased $10 million, or 2%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital markets fees were strong, though decreased by $26 million relative to an exceptional third quarter. Several M&A and equity deals pushed into 2026 given impacts associated with the government shutdown in the quarter, with roughly $20 million in fees pushing into 1Q26. Loan syndication fees were higher in the quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wealth fees increased $5 million to an all-time high, given an increase in advisory fees, primarily driven by net inflows and market appreciation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mortgage banking fees increased $3 million, as higher MSR valuation results, net of hedge impact, were largely offset by lower servicing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• FX and derivative products decreased $8 million primarily reflecting lower client interest rate hedging activity in anticipation of lower rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other income increased $11 million, reflecting favorable performance across several small revenue items.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

Underlying noninterest income of $620 million increased $56 million, or 10%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital markets fees increased $19 million, driven by higher debt and equity underwriting and loan syndication fees, partially offset by lower M&A fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wealth fees increased $23 million, primarily reflecting growth in AUM, mainly driven by net inflows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other income increased $13 million, reflecting favorable performance across several small revenue items.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** |
| **Noninterest Expense**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** |
|  |  |  |  | $**%** | $**%** |
| Salaries and employee benefits | $716 | $705 | $674 | 2% | 6% |
| Equipment and software | 199 | 197 | 193 | 1 | 3 |
| Outside services | 148 | 161 | 170 | (8) | (13) |
| Occupancy | 109 | 106 | 112 | 3 | (3) |
| Other operating expense | 171 | 166 | 167 | 3 | 2 |
| Noninterest expense | $1343 | $1335 | $1316 | 1% | 2% |
| Notable items | $— | $— | $24 | —% | (100)% |
| Underlying, as applicable |  |  |  |  |  |
| Salaries and employee benefits | $716 | $705 | $657 | 2% | 9% |
| Equipment and software | 199 | 197 | 190 | 1 | 5 |
| Outside services | 148 | 161 | 166 | (8) | (11) |
| Occupancy | 109 | 106 | 107 | 3 | 2 |
| Other operating expense | 171 | 166 | 172 | 3 | (1) |
| Underlying noninterest expense | $1343 | $1335 | $1292 | 1% | 4% |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

Noninterest expense of $1.3 billion increased 0.6%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Salaries and employee benefits increased $11 million, reflecting hiring related to the Private Bank and Private Wealth buildout, higher incentive compensation and medical benefit costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Outside services decreased $13 million, primarily driven by lower technology costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other operating expense increased $5 million, reflecting seasonal factors.

The effective tax rate was 22.0% in fourth quarter 2025 compared with 21.4% in third quarter 2025.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

Underlying noninterest expense of $1.3 billion increased 4%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Salaries and employee benefits increased $59 million, reflecting hiring related to the Private Bank and Private Wealth buildout, strong Capital Markets fee performance, and increased medical benefit costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equipment and software increased $9 million, reflecting technology investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Outside services decreased $18 million, largely driven by lower vendor-related costs.

The effective tax rate was 22.0% in fourth quarter 2025 compared with 21.2% on an Underlying basis in fourth quarter 2024, primarily reflecting less benefit from tax-advantaged investments given higher income and higher state taxes.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** |
| **Interest-earning assets**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** |
| **Period-end interest-earning assets** |  |  |  | $**%** | $**%** |
| Investments | $44650 | $44456 | $42217 | —% | 6% |
| Interest-bearing deposits in banks | 12224 | 11090 | 9827 | 10 | 24 |
| Commercial loans and leases | 73812 | 72493 | 69776 | 2 | 6 |
| Retail loans | 68880 | 68377 | 69427 | 1 | (1) |
| Total loans and leases | 142692 | 140870 | 139203 | 1 | 3 |
| Loans held for sale | 1198 | 1334 | 858 | (10) | 40 |
| Total loans and leases and loans held for sale | 143890 | 142204 | 140061 | 1 | 3 |
| Total period-end interest-earning assets | $200764 | $197750 | $192105 | 2% | 5% |
| **Average interest-earning assets**<sup>(1)</sup> |  |  |  |  |  |
| Investments | $46731 | $46453 | $44823 | 1% | 4% |
| Interest-bearing deposits in banks | 9156 | 9015 | 9459 | 2 | (3) |
| Commercial loans and leases | 73151 | 72150 | 71355 | 1 | 3 |
| Retail loans | 68606 | 67861 | 69592 | 1 | (1) |
| Total loans and leases | 141757 | 140011 | 140947 | 1 | 1 |
| Loans held for sale | 1523 | 2119 | 1384 | (28) | 10 |
| Total loans and leases and loans held for sale | 143280 | 142130 | 142331 | 1 | 1 |
| Total average interest-earning assets | $199167 | $197598 | $196613 | 1% | 1% |
| <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

Period-end interest-earning assets of $200.8 billion increased $3.0 billion, or 2%, reflecting a $1.1 billion increase in cash held in interest-bearing deposits and a $194 million increase in investments in securities. Total loans and leases increased $1.8 billion, as growth in the Private Bank, net new money originations in corporate banking and higher commercial line utilization, as well as growth in home equity and mortgage, were partially offset by commercial real estate paydowns and the runoff of Non-Core loans.

Average interest-earning assets of $199.2 billion increased $1.6 billion, or 1%, reflecting a $1.7 billion increase in total loans and leases and a $141 million increase in cash held in interest-bearing deposits, partially offset by a $596 million decrease in loans held for sale related to the final settlement of the Non-Core education loans sold.

The average effective duration of the securities portfolio was 3.8 years, compared with 3.6 years at September 30, 2025 and 3.7 years at December 31, 2024.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

Period-end interest-earning assets of $200.8 billion increased $8.7 billion, or 5%, reflecting a $2.4 billion increase in investments in securities, a $2.4 billion increase in cash held in interest-bearing deposits and a $3.8 billion increase in total loans and leases and loans held for sale. The increase in total loans and leases and loans held for sale was driven by $4.0 billion growth in commercial given net new money originations in corporate banking and higher commercial line utilization, as well as growth in the Private Bank, partially offset by commercial real estate paydowns. This was partially offset by a decline in retail of $547 million, as $4.9 billion of growth in home equity and mortgage was more than offset by Non-Core portfolio runoff.

Average interest-earning assets of $199.2 billion increased $2.6 billion, primarily reflecting a $1.9 billion increase in investments in securities and a $949 million increase in total loans and leases and loans held for sale.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** |
| **Deposits**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** |
| **Period-end deposits** |  |  |  | $**%** | $**%** |
| Non-interest bearing demand | $40417 | $39472 | $36920 | 2% | 9% |
| Checking with interest | 37428 | 35219 | 33246 | 6 | 13 |
| Savings | 24353 | 24759 | 25976 | (2) | (6) |
| Money market | 60062 | 59709 | 55321 | 1 | 9 |
| Time | 21053 | 20852 | 23313 | 1 | (10) |
| Total period-end deposits | $183313 | $180011 | $174776 | 2% | 5% |
| **Average deposits** |  |  |  |  |  |
| Non-interest bearing demand | $38993 | $38070 | $36704 | 2% | 6% |
| Checking with interest | 36257 | 34748 | 32720 | 4 | 11 |
| Savings | 24477 | 25001 | 26237 | (2) | (7) |
| Money market | 58904 | 57783 | 54548 | 2 | 8 |
| Time | 21226 | 20355 | 24053 | 4 | (12) |
| Total average deposits | $179857 | $175957 | $174262 | 2% | 3% |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

Total period-end deposits of $183.3 billion are up 2%, driven by growth in Private Bank, commercial, and retail, primarily across checking with interest, demand deposits and money market, partially offset by lower savings. Private Bank deposits reached $14.5 billion at year end.

Average deposits of $179.9 billion increased 2%, reflecting the same factors.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

Total period-end deposits of $183.3 billion increased 5%, primarily reflecting growth in Private Bank of $7.5 billion, and $3.5 billion in Commercial, partially offset by a $2.3 billion reduction in higher-cost Treasury brokered deposits.

Average deposits of $179.9 billion were up 3%.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** |
| **Borrowed Funds**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** |
| **Period-end borrowed funds** |  |  |  | $% | $% |
| Short-term borrowed funds | $58 | $214 | $— | (73) % | 100% |
| Long-term borrowed funds |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;FHLB advances | 2014 | 14 | 53 | NM | NM |
| &nbsp;&nbsp;&nbsp;Senior debt | 6328 | 6825 | 7168 | (7) | (12) |
| &nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 1284 | 1620 | 1805 | (21) | (29) |
| &nbsp;&nbsp;&nbsp;Auto collateralized borrowings | 1598 | 1982 | 3375 | (19) | (53) |
| Total borrowed funds | $11282 | $10655 | $12401 | 6% | (9)% |
| **Average borrowed funds** |  |  |  |  |  |
| Short-term borrowed funds | $221 | $589 | $41 | (62) % | NM |
| Long-term borrowed funds |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;FHLB advances | 35 | 1009 | 172 | (97) % | (80) |
| &nbsp;&nbsp;&nbsp;Senior debt | 6642 | 6823 | 7316 | (3) | (9) |
| &nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 1405 | 1622 | 1808 | (13) | (22) |
| &nbsp;&nbsp;&nbsp;Auto collateralized borrowings | 1774 | 2189 | 3593 | (19) | (51) |
| Total average borrowed funds | $10077 | $12232 | $12930 | (18)% | (22)% |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

Period-end borrowed funds increased $627 million, reflecting a $2.0 billion increase in FHLB advances largely offset by decreases in senior debt and subordinated debt of $497 million and $336 million, respectively, given redemptions, as well as a $384 million decrease in collateralized borrowings on auto loans as the associated portfolio runs down.

Average borrowed funds decreased $2.2 billion, driven by decreases in FHLB advances and short-term borrowed funds of $974 million and $368 million, respectively, a $415 million decrease in auto collateralized borrowings, as well as decreases in senior and subordinated debt of $181 million and $217 million, respectively, given the impact of redemptions.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

Period-end borrowed funds decreased by $1.1 billion, reflecting decreases of $1.8 billion in auto collateralized borrowings, given runoff of the associated portfolio, $840 million in senior and $521 million in subordinated debt given the impact of redemptions, partially offset by $2.0 billion in FHLB advances.

Average borrowed funds decreased by $2.9 billion, given a $1.8 billion decrease in auto collateralized borrowings, and decreases in senior and subordinated debt of $674 million and $403 million respectively, given the impact of redemptions.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** |
| **Capital**<br>*($s and shares in millions, except per share data)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** |
| **Period-end capital** |  |  |  | $% | $% |
| Stockholders' equity | $26317 | $25829 | $24254 | 2% | 9% |
| Stockholders' common equity | 24206 | 23718 | 22141 | 2 | 9 |
| Tangible common equity | 16341 | 15848 | 14246 | 3 | 15 |
| Tangible book value per common share | $38.07 | $36.73 | $32.34 | 4% | 18% |
| Common shares - at end of period | 429.2 | 431.5 | 440.5 | (1) | (3) |
| Common shares - average (diluted) | 434.1 | 435.5 | 444.8 | —% | (2)% |
| Common equity tier 1 capital ratio<sup>(1)</sup> | 10.6% | 10.7% | 10.8% |  |  |
| Total capital ratio<sup>(1)</sup> | 13.8 | 13.9 | 14.0 |  |  |
| Tangible common equity ratio | 7.5 | 7.4 | 6.8 |  |  |
| Tier 1 leverage ratio<sup>(1)</sup> | 9.4 | 9.4 | 9.4 |  |  |
| (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. |

---

**Fourth quarter 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The CET1 capital ratio of 10.6% as of December 31, 2025 compares with 10.7% at September 30, 2025 and 10.8% at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total capital ratio of 13.8% compares with 13.9% at September 30, 2025 and 14.0% as of December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tangible common equity ratio of 7.5% compares with 7.4% at September 30, 2025 and 6.8% as of December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tangible book value per common share of $38.07 increased 4% compared with third quarter 2025, reflecting higher net income and AOCI benefit from lower long-term rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Paid $201 million in common dividends to shareholders during fourth quarter 2025. This compares with $184 million in common dividends during third quarter 2025 and $188 million during fourth quarter 2024, given the fourth quarter 2025 increase in the quarterly dividend per share of $0.04 to $0.46.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Repurchased $125 million of common shares during fourth quarter 2025, compared with $75 million in third quarter 2025 and $225 million in fourth quarter 2024.

------

**Citizens Financial Group, Inc.**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** | **4Q25 change from** |
| **Credit quality review**<br>*($s in millions)* |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** |
|  |  |  |  | **$/bps/%** | **$/bps/%** | **%** | **$/bps/%** | **$/bps/%** | **%** |
| Nonaccrual loans and leases<sup>(1)</sup> | $1504 | $1518 | $1664 | $(14) |  | (1)% | $(160) |  | (10)% |
| 90+ days past due and accruing<sup>(2)</sup> | 169 | 162 | 196 | 7 |  | 4 | (27) |  | (14) |
| Net charge-offs | 155 | 162 | 189 | (7) |  | (4) | (34) |  | (18) |
| Provision for credit losses | 137 | 154 | 162 | (17) |  | (11) | (25) |  | (15) |
| Allowance for credit losses | $2183 | $2201 | $2259 | $(18) |  | (1)% | $(76) |  | (3)% |
| Nonaccrual loans and leases to loans and leases | 1.05% | 1.08% | 1.20% | (3) | bps |  | (15) | bps |  |
| Net charge-offs as a % of total loans and leases | 0.43 | 0.46 | 0.53 | (3) |  |  | (10) |  |  |
| Allowance for credit losses to loans and leases | 1.53 | 1.56 | 1.62 | (3) |  |  | (9) |  |  |
| Allowance for credit losses to nonaccrual loans and leases | 145% | 145% | 136% |  | % |  | 9 | % |  |
| (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  |
| (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. | (2) 90+ days past due and accruing includes $141 million, $114 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, and December 31, 2024, respectively. |

---

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **third quarter 2025** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nonaccrual loans of $1.5 billion decreased 1% reflecting a decrease in commercial real estate, partially offset by an increase in C&I and residential real estate secured. The nonaccrual loans to total loans ratio of 1.05% compares with 1.08% at September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net charge-offs of $155 million, or 43 basis points of average loans and leases, compares with 46 basis points in the prior quarter, with the decrease driven primarily by commercial real estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The fourth quarter 2025 provision for credit losses of $137 million compares with $154 million for third quarter 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The ratio of allowance for credit losses to total loans of 1.53% was down slightly compared with 1.56% as of September 30, 2025 reflecting improved loan mix given the continued reduction in the Non-Core portfolio and a decrease in commercial real estate balances, with originations primarily in C&I and retail real estate secured that have a lower loss content profile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The allowance for credit losses to nonaccrual loans and leases ratio of 145% is stable with September 30, 2025.

---

| | | |
|:---|:---|:---|
| **Fourth quarter 2025** | **vs.** | **fourth quarter 2024** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nonaccrual loans decreased 10% given a 20% decrease in commercial real estate and a 6% decrease in retail, reflecting decreases in education, other retail and auto, partially offset by increases in residential real estate secured categories. The nonaccrual loans to total loans ratio of 1.05% compares with 1.20% at December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net charge-offs of $155 million, or 43 basis points of average loans and leases compares with 53 basis points for fourth quarter 2024. This reflects a decrease in commercial real estate and a decrease in retail, driven by reductions in education, auto and other retail, partially offset by an increase in C&I.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Provision for credit losses of $137 million decreased compared with a $162 million provision in fourth quarter 2024 reflecting the runoff of the Non-Core portfolio and improving loan mix.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allowance for credit losses of $2.2 billion decreased $76 million compared with December 31, 2024 given the benefit of the sale of Non-Core education loans, continued Non-Core runoff and other improvements in loan mix. Allowance for credit losses ratio of 1.53% as of December 31, 2025 compares with 1.62% as of December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The allowance for credit losses to nonaccrual loans and leases ratio of 145% compares with 136% as of December 31, 2024.

------

**Citizens Financial Group, Inc.**

**<u>About Citizens Financial Group, Inc</u>**.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $226.4 billion in assets as of December 31, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail, private banking, wealth management and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,100 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. Consumer Banking includes Citizens Private Bank and Private Wealth, which integrate banking services and wealth management solutions to serve high- and ultra-high-net-worth individuals and families, as well as investors, entrepreneurs and businesses. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.

------

**Citizens Financial Group, Inc.**

**<u>Non-GAAP Financial Measures and Reconciliations</u>**

**<u>Non-GAAP Financial Measures:</u>**

This document contains non-GAAP financial measures, with those denoted as Underlying for any given reporting period excluding certain items that may occur in that period which management does not consider indicative of the Company's on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe those measures denoted as Underlying in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. See the following pages for reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **4Q24** | **2025** | **2024** | **2024** |
| | | | | | $**%** | $**%** | | | $**%** |
| **Noninterest income, Underlying:** |  |  |  |  |  |  |  |  |  |
| Noninterest income (GAAP) |  | $620 | $630 | $574 | (2%) | 8% | $2394 | $2176 | 10% |
| Less: Notable items |  |  |  | 10 |  | (100) |  | 15 | (100) |
| Noninterest income, Underlying (non-GAAP) |  | $620 | $630 | $564 | (2%) | 10% | $2394 | $2161 | 11% |
| **Total revenue, Underlying:** |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | A | $2157 | $2118 | $1986 | 2% | 9% | $8247 | $7809 | 6% |
| Less: Notable items |  |  |  | 10 |  | (100) |  | 15 | (100) |
| Total revenue, Underlying (non-GAAP) | B | $2157 | $2118 | $1976 | 2% | 9% | $8247 | $7794 | 6% |
| **Noninterest expense, Underlying:** |  |  |  |  |  |  |  |  |  |
| Noninterest expense (GAAP) | C | $1343 | $1335 | $1316 | 1% | 2% | $5311 | $5234 | 1% |
| Less: Notable items |  |  |  | 24 |  | (100) |  | 156 | (100) |
| Noninterest expense, Underlying (non-GAAP) | D | $1343 | $1335 | $1292 | 1% | 4% | $5311 | $5078 | 5% |
| **Pre-provision profit:** |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | A | $2157 | $2118 | $1986 | 2% | 9% | $8247 | $7809 | 6% |
| Less: Noninterest expense (GAAP) | C | 1343 | 1335 | 1316 | 1 | 2 | 5311 | 5234 | 1 |
| Pre-provision profit (non-GAAP) |  | $814 | $783 | $670 | 4% | 21% | $2936 | $2575 | 14% |
| **Pre-provision profit, Underlying:** |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | B | $2157 | $2118 | $1976 | 2% | 9% | $8247 | $7794 | 6% |
| Less: Noninterest expense, Underlying (non-GAAP) | D | 1343 | 1335 | 1292 | 1 | 4 | 5311 | 5078 | 5 |
| Pre-provision profit, Underlying (non-GAAP) |  | $814 | $783 | $684 | 4% | 19% | $2936 | $2716 | 8% |
| **Income before income tax expense, Underlying:** |  |  |  |  |  |  |  |  |  |
| Income before income tax expense (GAAP) | E | $677 | $629 | $508 | 8% | 33% | $2328 | $1888 | 23% |
| Less: Income (expense) before income tax expense (benefit) related to notable items |  |  |  | (14) |  | 100 |  | (141) | 100 |
| Income before income tax expense, Underlying (non-GAAP) | F | $677 | $629 | $522 | 8% | 30% | $2328 | $2029 | 15% |
| **Income tax expense, Underlying:** |  |  |  |  |  |  |  |  |  |
| Income tax expense (GAAP) | G | $149 | $135 | $107 | 10% | 39% | $497 | $379 | 31% |
| Less: Income tax expense (benefit) related to notable items |  |  |  | (3) |  | 100 |  | (43) | 100 |
| Income tax expense, Underlying (non-GAAP) | H | $149 | $135 | $110 | 10% | 35% | $497 | $422 | 18% |
| **Net income, Underlying:** |  |  |  |  |  |  |  |  |  |
| Net income (GAAP) | I | $528 | $494 | $401 | 7% | 32% | $1831 | $1509 | 21% |
| Add: Notable items, net of income tax benefit |  |  |  | 11 |  | (100) |  | 98 | (100) |
| Net income, Underlying (non-GAAP) | J | $528 | $494 | $412 | 7% | 28% | $1831 | $1607 | 14% |
| **Net income available to common stockholders, Underlying:** |  |  |  |  |  |  |  |  |  |
| Net income available to common stockholders (GAAP) | K | $489 | $457 | $367 | 7% | 33% | $1688 | $1372 | 23% |
| Add: Notable items, net of income tax benefit |  |  |  | 11 |  | (100) |  | 98 | (100) |
| Net income available to common stockholders, Underlying (non-GAAP) | L | $489 | $457 | $378 | 7% | 29% | $1688 | $1470 | 15% |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **Operating leverage:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | A | $2157 | $2118 | $1986 | $39 |  | 1.86% | $171 |  | 8.57% | $8247 | $7809 | $438 |  | 5.60% |
| Less: Noninterest expense (GAAP) | C | 1343 | 1335 | 1316 | 8 |  | 0.58 | 27 |  | 1.97 | 5311 | 5234 | 77 |  | 1.46 |
| Operating leverage |  |  |  |  |  |  | 1.28% |  |  | 6.60% |  |  |  |  | 4.14% |
| **Operating leverage, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | B | $2157 | $2118 | $1976 | $39 |  | 1.86% | $181 |  | 9.11% | $8247 | $7794 | $453 |  | 5.80% |
| Less: Noninterest expense, Underlying (non-GAAP) | D | 1343 | 1335 | 1292 | 8 |  | 0.58 | 51 |  | 3.90 | 5311 | 5078 | 233 |  | 4.57 |
| Operating leverage, Underlying (non-GAAP) |  |  |  |  |  |  | 1.28% |  |  | 5.21% |  |  |  |  | 1.23% |
| **Efficiency ratio and efficiency ratio, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Efficiency ratio | C/A | 62.24% | 63.03% | 66.27% | (79) | bps |  | (403) | bps |  | 64.40% | 67.03% | (263) | bps |  |
| Efficiency ratio, Underlying (non-GAAP) | D/B | 62.24 | 63.03 | 65.36 | (79) | bps |  | (312) | bps |  | 64.40 | 65.15 | (75) | bps |  |
| **Effective income tax rate and effective income tax rate, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Effective income tax rate | G/E | 22.03% | 21.38% | 21.04% | 65 | bps |  | 99 | bps |  | 21.34% | 20.06% | 128 | bps |  |
| Effective income tax rate, Underlying (non-GAAP) | H/F | 22.03 | 21.38 | 21.17 | 65 | bps |  | 86 | bps |  | 21.34 | 20.80 | 54 | bps |  |
| **Return on average common equity and return on average common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common equity (GAAP) | M | $23823 | $23288 | $22009 | $535 |  | 2% | $1814 |  | 8% | $22954 | $21881 | $1073 |  | 5% |
| Return on average common equity | K/M | 8.16% | 7.77% | 6.64% | 39 | bps |  | 152 | bps |  | 7.36% | 6.27% | 109 | bps |  |
| Return on average common equity, Underlying (non-GAAP) | L/M | 8.16 | 7.77 | 6.84 | 39 | bps |  | 132 | bps |  | 7.36 | 6.72 | 64 | bps |  |
| **Return on average tangible common equity and return on average tangible common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common equity (GAAP) | M | $23823 | $23288 | $22009 | $535 |  | 2% | $1814 |  | 8% | $22954 | $21881 | $1073 |  | 5% |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8187 |  |  |  |  |  |  | 8187 | 8187 |  |  |  |
| Less: Average other intangibles (GAAP) |  | 120 | 126 | 136 | (6) |  | (5) | (16) |  | (12) | 131 | 143 | (12) |  | (8) |
| Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 440 | 436 |  |  |  | 4 |  | 1 | 439 | 433 | 6 |  | 1 |
| Average tangible common equity (non-GAAP) | N | $15956 | $15415 | $14122 | $541 |  | 4% | $1834 |  | 13% | $15075 | $13984 | $1091 |  | 8% |
| Return on average tangible common equity (non-GAAP) | K/N | 12.18% | 11.75% | 10.36% | 43 | bps |  | 182 | bps |  | 11.20% | 9.81% | 139 | bps |  |
| Return on average tangible common equity, Underlying (non-GAAP) | L/N | 12.18 | 11.75 | 10.66 | 43 | bps |  | 152 | bps |  | 11.20 | 10.51 | 69 | bps |  |
| **Return on average total assets and return on average total assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | O | $221242 | $219117 | $217548 | $2125 |  | 1% | $3694 |  | 2% | $218597 | $219024 | ($427) |  | —% |
| Return on average total assets | I/O | 0.95% | 0.90% | 0.73% | 5 | bps |  | 22 | bps |  | 0.84% | 0.69% | 15 | bps |  |
| Return on average total assets, Underlying (non-GAAP) | J/O | 0.95 | 0.90 | 0.75 | 5 | bps |  | 20 | bps |  | 0.84 | 0.73 | 11 | bps |  |
| **Return on average total tangible assets and return on average total tangible assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | O | $221242 | $219117 | $217548 | $2125 | $2125 | 1% | $3694 | $3694 | 2% | $218597 | $219024 | ($427) |  | —% |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8187 |  |  |  |  |  |  | 8187 | 8187 |  |  |  |
| Less: Average other intangibles (GAAP) |  | 120 | 126 | 136 | (6) |  | (5) | (16) |  | (12) | 131 | 143 | (12) |  | (8) |
| Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 440 | 436 |  |  |  | 4 |  | 1 | 439 | 433 | 6 |  | 1 |
| Average tangible assets (non-GAAP) | P | $213375 | $211244 | $209661 | $2131 |  | 1% | $3714 |  | 2% | $210718 | $211127 | ($409) |  | —% |
| Return on average total tangible assets (non-GAAP) | I/P | 0.98% | 0.93% | 0.76% | 5 | bps |  | 22 | bps |  | 0.87% | 0.71% | 16 | bps |  |
| Return on average total tangible assets, Underlying (non-GAAP) | J/P | 0.98 | 0.93 | 0.78 | 5 | bps |  | 20 | bps |  | 0.87 | 0.76 | 11 | bps |  |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **Book value per common share and tangible book value per common share:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Common shares - at period-end (GAAP) | Q | 429242174 | 431453142 | 440543381 | (2210968) | (1%) | (11301207) | (3%) | 429242174 | 440543381 | (11301207) | (3%) |
| Common stockholders' equity (GAAP) | R | $24206 | $23718 | $22141 | $488 | 2 | $2065 | 9 | $24206 | $22141 | $2065 | 9 |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 |  |  |  |  | 8187 | 8187 |  |  |
| Less: Other intangible assets (GAAP) |  | 115 | 123 | 146 | (8) | (7) | (31) | (21) | 115 | 146 | (31) | (21) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 437 | 440 | 438 | (3) | (1) | (1) |  | 437 | 438 | (1) |  |
| Tangible common equity (non-GAAP) | S | $16341 | $15848 | $14246 | $493 | 3% | $2095 | 15% | $16341 | $14246 | $2095 | 15% |
| Book value per common share | R/Q | $56.39 | $54.97 | $50.26 | $1.42 | 3% | $6.13 | 12% | $56.39 | $50.26 | $6.13 | 12% |
| Tangible book value per common share (non-GAAP) | S/Q | $38.07 | $36.73 | $32.34 | $1.34 | 4% | $5.73 | 18% | $38.07 | $32.34 | $5.73 | 18% |
| **Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common shares outstanding - basic (GAAP) | T | 429483110 | 431365552 | 440802738 | (1882442) | —% | (11319628) | (3%) | 433173162 | 450678038 | (17504876) | (4%) |
| Average common shares outstanding - diluted (GAAP) | U | 434077960 | 435472350 | 444836786 | (1394390) |  | (10758826) | (2) | 436890731 | 453510245 | (16619514) | (4) |
| Net income per average common share - basic (GAAP) | K/T | $1.14 | $1.06 | $0.83 | $0.08 | 8 | $0.31 | 37 | $3.90 | $3.05 | $0.85 | 28 |
| Net income per average common share - diluted (GAAP) | K/U | 1.13 | 1.05 | 0.83 | 0.08 | 8 | 0.30 | 36 | 3.86 | 3.03 | 0.83 | 27 |
| Net income per average common share - basic, Underlying (non-GAAP) | L/T | 1.14 | 1.06 | 0.86 | 0.08 | 8 | 0.28 | 33 | 3.90 | 3.26 | 0.64 | 20 |
| Net income per average common share - diluted, Underlying (non-GAAP) | L/U | 1.13 | 1.05 | 0.85 | 0.08 | 8 | 0.28 | 33 | 3.86 | 3.24 | 0.62 | 19 |
| **Common equity ratio and tangible common equity ratio:** |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets (GAAP) | V | $226351 | $222747 | $217521 | 3604 | 2 | $8830 | 4% | $226351 | $217521 | $8830 | 4% |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 |  |  |  |  | 8187 | 8187 |  |  |
| Less: Other intangible assets (GAAP) |  | 115 | 123 | 146 | (8) | (7) | (31) | (21) | 115 | 146 | (31) | (21) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 437 | 440 | 438 | (3) | (1) | (1) |  | 437 | 438 | (1) |  |
| Tangible assets (non-GAAP) | W | $218486 | $214877 | $209626 | $3609 | 2% | $8860 | 4% | $218486 | $209626 | $8860 | 4% |
| Common equity ratio (GAAP) | R/V | 10.7% | 10.6% | 10.2% | 4 bps |  | 51 bps |  | 10.7% | 10.2% | 51 bps |  |
| Tangible common equity ratio (non-GAAP) | S/W | 7.5 | 7.4 | 6.8 | 10 bps |  | 70 bps |  | 7.5 | 6.8 | 70 bps |  |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **Net interest income and net interest margin on an FTE basis:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest income (annualized) (GAAP) | X | $6098 | $5902 | $5620 | $196 |  | 3% | $478 |  | 9% | $5853 | $5633 | $220 |  | 4% |
| Average interest-earning assets (GAAP) | Y | 199167 | 197598 | 196613 | 1569 |  | 1 | 2554 |  | 1 | 197048 | 198072 | (1024) |  | (1) |
| Net interest margin (GAAP) | X/Y | 3.06% | 2.99% | 2.86% | 7 | bps |  | 20 | bps |  | 2.97% | 2.84% | 13 | bps |  |
| Net interest income (GAAP) |  | $1537 | $1488 | $1412 | $49 |  | 3% | $125 |  | 9% | $5853 | $5633 | $220 |  | 4% |
| FTE adjustment |  | 4 | 4 | 4 |  |  |  |  |  |  | 16 | 17 | (1) |  | (6) |
| Net interest income on an FTE basis (non-GAAP) |  | 1541 | 1492 | 1416 | 49 |  | 3 | 125 |  | 9 | 5869 | 5650 | 219 |  | 4 |
| Net interest income on an FTE basis (annualized) (non-GAAP) | Z | 6112 | 5919 | 5637 | 194 |  | 3 | 475 |  | 8 | 5869 | 5650 | 219 |  | 4 |
| Net interest margin on an FTE basis (non-GAAP) | Z/Y | 3.07% | 3.00% | 2.87% | 7 | bps |  | 20 | bps |  | 2.98% | 2.85% | 13 | bps |  |
| **Card fees, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Card fees (GAAP) |  | $86 | $87 | $97 | ($1) |  | (1) | ($11) |  | (11%) | $346 | $368 | ($22) |  | (6%) |
| Less: Notable items |  |  |  | 11 |  |  |  | (11) |  | (100) |  | 24 | (24) |  | (100) |
| Card fees, Underlying (non-GAAP) |  | $86 | $87 | $86 | ($1) |  | (1) | $— |  | —% | $346 | $344 | $2 |  | 1% |
| **Other income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other income (GAAP) |  | $42 | $31 | $28 | $11 |  | 35 | $14 |  | 50% | $136 | $79 | $57 |  | 72% |
| Less: Notable items |  |  |  | (1) |  |  |  | 1 |  | 100 |  | (9) | 9 |  | 100 |
| Other income, Underlying (non-GAAP) |  | $42 | $31 | $29 | $11 |  | 35 | $13 |  | 45% | $136 | $88 | $48 |  | 55% |
| **Salaries and employee benefits, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits (GAAP) |  | $716 | $705 | $674 | $11 |  | 2% | $42 |  | 6% | $2798 | $2657 | $141 |  | 5% |
| Less: Notable items |  |  |  | 17 |  |  |  | (17) |  | (100) |  | 46 | (46) |  | (100) |
| Salaries and employee benefits, Underlying (non-GAAP) |  | $716 | $705 | $657 | $11 |  | 2% | $59 |  | 9% | $2798 | $2611 | $187 |  | 7% |
| **Equipment and software, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equipment and software (GAAP) |  | $199 | $197 | $193 | $2 |  | 1% | $6 |  | 3% | $783 | $769 | $14 |  | 2% |
| Less: Notable items |  |  |  | 3 |  |  |  | (3) |  | (100) |  | 17 | (17) |  | (100) |
| Equipment and software, Underlying (non-GAAP) |  | $199 | $197 | $190 | $2 |  | 1% | $9 |  | 5% | $783 | $752 | $31 |  | 4% |
| **Outside services, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Outside services (GAAP) |  | $148 | $161 | $170 | ($13) |  | (8%) | ($22) |  | (13%) | $633 | $639 | ($6) |  | (1%) |
| Less: Notable items |  |  |  | 4 |  |  |  | (4) |  | (100) |  | 28 | (28) |  | (100) |
| Outside services, Underlying (non-GAAP) |  | $148 | $161 | $166 | ($13) |  | (8%) | ($18) |  | (11%) | $633 | $611 | $22 |  | 4% |
| **Occupancy, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Occupancy (GAAP) |  | $109 | $106 | $112 | $3 |  | 3% | ($3) |  | (3%) | $435 | $447 | ($12) |  | (3%) |
| Less: Notable items |  |  |  | 5 |  |  |  | (5) |  | (100) |  | 19 | (19) |  | (100) |
| Occupancy, Underlying (non-GAAP) |  | $109 | $106 | $107 | $3 |  | 3% | $2 |  | 2% | $435 | $428 | $7 |  | 2% |
| **Other operating expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other operating expense (GAAP) |  | $171 | $166 | $167 | $5 |  | 3% | $4 |  | 2% | $662 | $722 | ($60) |  | (8%) |
| Less: Notable items |  |  |  | (5) |  |  |  | 5 |  | 100 |  | 46 | (46) |  | (100) |
| Other operating expense, Underlying (non-GAAP) |  | $171 | $166 | $172 | $5 |  | 3% | ($1) |  | (1%) | $662 | $676 | ($14) |  | (2%) |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | |
|:---|:---|:---|
| | | **4Q25** |
| **CET1 Ratio adjusted for AOCI opt-out removal** | | |
| CET1 capital |  | $18240 |
| Less: AFS securities - AOCI |  | 922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HTM securities - AOCI<sup>(1)</sup> |  | 681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTA for AFS/HTM securities |  | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension |  | 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTA for Pension |  | 4 |
| CET 1 capital adjusted for AOCI opt-out removal | A | $16351 |
| Risk-weighted assets |  | 171493 |
| Less: HTM securities - AOCI |  | 117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AFS securities - AOCI |  | 149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTA for AFS/HTM securities |  | (1276) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pension |  | 249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DTA for Pension |  | (215) |
| Risk-weighted assets adjusted for AOCI opt-out removal | B | $172469 |
| **CET1 Ratio adjusted for AOCI opt-out removal** | A/B | 9.5% |
| **(1) HTM securities - AOCI refers to unrealized losses recognized on securities before transfer to HTM** | **(1) HTM securities - AOCI refers to unrealized losses recognized on securities before transfer to HTM** | **(1) HTM securities - AOCI refers to unrealized losses recognized on securities before transfer to HTM** |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | |
|:---|:---|:---|
| | | **2025** |
| **Net income available to common stockholders:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Private Bank Net income available to common stockholders, (GAAP) | A | $122 |
| **Regulatory Capital:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Private Bank Average Risk Weighted Assets <sup>(1)</sup> | B | $4889 |
| &nbsp;&nbsp;&nbsp;&nbsp;CFG Capital Allocation Rate <sup>(2)</sup> | C | 10.0% |
| Private Bank Regulatory Capital | D=B\*C | $489 |
| Private Bank Return on Regulatory Capital | A/D | 25% |
| <sup>(1)</sup> RWA is based on the Basel III standardized approach. | <sup>(1)</sup> RWA is based on the Basel III standardized approach. | <sup>(1)</sup> RWA is based on the Basel III standardized approach. |
| <sup>(2)</sup> Capital allocation rate is management-defined for internal performance evaluation. It is not based on GAAP. | <sup>(2)</sup> Capital allocation rate is management-defined for internal performance evaluation. It is not based on GAAP. | <sup>(2)</sup> Capital allocation rate is management-defined for internal performance evaluation. It is not based on GAAP. |

---

------

**Citizens Financial Group, Inc.**

**Forward-Looking Statements**

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words "believes," "expects," "anticipates," "estimates," "intends," "plans," "goals," "targets," "initiatives," "potentially," "probably," "projects," "outlook," "guidance" or similar expressions or future conditional verbs such as "may," "will," "likely," "should," "would," and "could."

Forward-looking statements are based upon the current beliefs and expectations of management, and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Negative economic, business and political conditions, including as a result of the interest rate environment, supply chain disruptions, tariffs, inflationary pressures, and labor shortages that adversely affect the general economy, housing prices, the job market, consumer confidence, and spending habits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The general state of the economy and employment, as well as general business and economic conditions, and changes in the competitive environment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our capital and liquidity requirements under regulatory standards and our ability to generate capital and liquidity on favorable terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effect of changes in our credit ratings on our cost of funding, access to capital markets, ability to market our securities, and overall liquidity position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effect of changes in the level of commercial and consumer deposits on our funding costs and net interest margin;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our ability to execute on our strategic business initiatives and achieve our financial performance goals across our Consumer and Commercial businesses, including our Private Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effects of geopolitical instability, including the wars in Ukraine and the Middle East, on economic and market conditions, inflationary pressures and the interest rate environment, commodity price and foreign exchange rate volatility, and heightened cybersecurity risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our ability to comply with heightened supervisory requirements and expectations as well as new or amended regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Liabilities and business restrictions resulting from litigation and regulatory investigations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effect of changes in interest rates on our net interest income, net interest margin, mortgage originations, mortgage servicing rights, and mortgages held for sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Changes in interest rates and market liquidity, as well as the magnitude of such changes, which may reduce interest margins, impact funding sources, and affect the ability to originate and distribute financial products in the primary and secondary markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Financial services reform and other current, pending, or future legislation or regulation that could have a negative effect on our revenue and businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Environmental risks, such as physical or transition risks associated with climate change, and social and governance risks that could adversely affect our reputation, operations, business, and customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A failure in, or breach of, our compliance with laws, as well as operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyberattacks; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Management's ability to identify and manage these and other risks.

In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, balance sheet growth, market conditions, and regulatory considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares from, or pay any dividends to, holders of our common stock, or as to the amount of any such repurchases or dividends.

More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as filed with the Securities and Exchange Commission.

Note: Per share amounts and ratios presented in this document are calculated using whole dollars.

## Exhibit 99.2

**Exhibit 99.2**

![newcfglogomediuma01a21a.jpg](newcfglogomediuma01a21a.jpg)

**Financial Supplement**

**Fourth Quarter and Full Year 2025** 

------

---

| | |
|:---|:---|
| **Table of Contents** | **Page** |
| <u>[Consolidated Financial Highlights](#i919eabb1cf7240358ec7a6f322b6b57a_10)</u> | <u>[3](#i919eabb1cf7240358ec7a6f322b6b57a_10)</u> |
| <u>[Consolidated Statements of Operations (unaudited)](#i919eabb1cf7240358ec7a6f322b6b57a_13)</u> | <u>[5](#i919eabb1cf7240358ec7a6f322b6b57a_13)</u> |
| <u>[Consolidated Balance Sheets (unaudited)](#i919eabb1cf7240358ec7a6f322b6b57a_16)</u> | <u>[6](#i919eabb1cf7240358ec7a6f322b6b57a_16)</u> |
| <u>[Loans and Deposits](#i919eabb1cf7240358ec7a6f322b6b57a_19)</u> | <u>[7](#i919eabb1cf7240358ec7a6f322b6b57a_19)</u> |
| <u>[Average Balance Sheets, Annualized Yields and Rates](#i919eabb1cf7240358ec7a6f322b6b57a_25)</u> | <u>[8](#i919eabb1cf7240358ec7a6f322b6b57a_25)</u> |
| <u>[Mortgage Banking Fees](#i919eabb1cf7240358ec7a6f322b6b57a_31)</u> | <u>[10](#i919eabb1cf7240358ec7a6f322b6b57a_31)</u> |
| <u>[Segment Financial Highlights](#i919eabb1cf7240358ec7a6f322b6b57a_34)</u> | <u>[11](#i919eabb1cf7240358ec7a6f322b6b57a_34)</u> |
| <u>Credit-Related Information:</u> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Nonaccrual loans and leases](#i919eabb1cf7240358ec7a6f322b6b57a_40)</u> | <u>[14](#i919eabb1cf7240358ec7a6f322b6b57a_40)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Loans and Leases 90 Days or More Past Due and Accruing](#i919eabb1cf7240358ec7a6f322b6b57a_43)</u> | <u>[15](#i919eabb1cf7240358ec7a6f322b6b57a_43)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Charge-offs, Recoveries, and Related Ratios](#i919eabb1cf7240358ec7a6f322b6b57a_46)</u> | <u>[16](#i919eabb1cf7240358ec7a6f322b6b57a_46)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Summary of Changes in the Components of the Allowance for Credit Losses](#i919eabb1cf7240358ec7a6f322b6b57a_49)</u> | <u>[18](#i919eabb1cf7240358ec7a6f322b6b57a_49)</u> |
| <u>[Capital and Ratios](#i919eabb1cf7240358ec7a6f322b6b57a_52)</u> | <u>[19](#i919eabb1cf7240358ec7a6f322b6b57a_52)</u> |
| <u>[Non-GAAP Financial Measures and Reconciliations](#i919eabb1cf7240358ec7a6f322b6b57a_55)</u> | <u>[20](#i919eabb1cf7240358ec7a6f322b6b57a_55)</u> |
| The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward-looking statements language contained in the Company's reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC's website (<u>www.sec.gov</u>) or on the Company's website (<u>www.citizensbank.com</u>). The Company's future financial performance is subject to the risks and uncertainties described in its SEC filings.<br>Please note that items in this document may not sum due to rounding. | The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward-looking statements language contained in the Company's reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC's website (<u>www.sec.gov</u>) or on the Company's website (<u>www.citizensbank.com</u>). The Company's future financial performance is subject to the risks and uncertainties described in its SEC filings.<br>Please note that items in this document may not sum due to rounding. |

---

------

**CONSOLIDATED FINANCIAL HIGHLIGHTS** 

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **<u>SELECTED OPERATING DATA</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue | $2157 | $2118 | $2037 | $1935 | $1986 | $39 |  | 2% | $171 |  | 9% | $8247 | $7809 | $438 |  | 6% |
| Noninterest expense | 1343 | 1335 | 1319 | 1314 | 1316 | 8 |  | 1 | 27 |  | 2 | 5311 | 5234 | 77 |  | 1 |
| Pre-provision profit<sup>1</sup> | 814 | 783 | 718 | 621 | 670 | 31 |  | 4 | 144 |  | 21 | 2936 | 2575 | 361 |  | 14 |
| Provision (benefit) for credit losses | 137 | 154 | 164 | 153 | 162 | (17) |  | (11) | (25) |  | (15) | 608 | 687 | (79) |  | (11) |
| &nbsp;&nbsp;&nbsp;**NET INCOME** | 528 | 494 | 436 | 373 | 401 | 34 |  | 7 | 127 |  | 32 | 1831 | 1509 | 322 |  | 21 |
| Net income, Underlying<sup>1</sup> | 528 | 494 | 436 | 373 | 412 | 34 |  | 7 | 116 |  | 28 | 1831 | 1607 | 224 |  | 14 |
| Net income available to common stockholders | 489 | 457 | 402 | 340 | 367 | 32 |  | 7 | 122 |  | 33 | 1688 | 1372 | 316 |  | 23 |
| Net income available to common stockholders, Underlying<sup>1</sup> | 489 | 457 | 402 | 340 | 378 | 32 |  | 7 | 111 |  | 29 | 1688 | 1470 | 218 |  | 15 |
| **<u>PER COMMON SHARE DATA</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic earnings | $1.14 | $1.06 | $0.93 | $0.78 | $0.83 | $0.08 |  | 8% | $0.31 |  | 37% | $3.90 | $3.05 | $0.85 |  | 28% |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings | 1.13 | 1.05 | 0.92 | 0.77 | 0.83 | 0.08 |  | 8 | 0.30 |  | 36 | 3.86 | 3.03 | 0.83 |  | 27 |
| &nbsp;&nbsp;&nbsp;Basic earnings, Underlying<sup>1</sup> | 1.14 | 1.06 | 0.93 | 0.78 | 0.86 | 0.08 |  | 8 | 0.28 |  | 33 | 3.90 | 3.26 | 0.64 |  | 20 |
| &nbsp;&nbsp;&nbsp;Diluted earnings, Underlying<sup>1</sup> | 1.13 | 1.05 | 0.92 | 0.77 | 0.85 | 0.08 |  | 8 | 0.28 |  | 33 | 3.86 | 3.24 | 0.62 |  | 19 |
| Cash dividends declared and paid per common share | 0.46 | 0.42 | 0.42 | 0.42 | 0.42 | 0.04 |  | 10 | 0.04 |  | 10 | 1.72 | 1.68 | 0.04 |  | 2 |
| Book value per common share | 56.39 | 54.97 | 53.43 | 51.99 | 50.26 | 1.42 |  | 3 | 6.13 |  | 12 | 56.39 | 50.26 | 6.13 |  | 12 |
| Tangible book value per common share<sup>1</sup> | 38.07 | 36.73 | 35.23 | 33.97 | 32.34 | 1.34 |  | 4 | 5.73 |  | 18 | 38.07 | 32.34 | 5.73 |  | 18 |
| Dividend payout ratio | 40% | 40% | 45% | 54% | 51% | 73 | bps |  | (1025) | bps |  | 44% | 55% | (1098) | bps |  |
| Dividend payout ratio, Underlying<sup>1</sup> | 40 | 40 | 45 | 54 | 49 | 73 | bps |  | (865) | bps |  | 44 | 52 | (800) | bps |  |
| **<u>COMMON SHARES OUTSTANDING</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average: Basic | 429483110 | 431365552 | 433640210 | 438320757 | 440802738 | (1882442) |  | —% | (11319628) |  | (3%) | 433173162 | 450678038 | (17504876) |  | (4%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted | 434077960 | 435472350 | 436539774 | 442200180 | 444836786 | (1394390) |  |  | (10758826) |  | (2) | 436890731 | 453510245 | (16619514) |  | (4) |
| Common shares at period-end | 429242174 | 431453142 | 432768811 | 437668127 | 440543381 | (2210968) |  | (1) | (11301207) |  | (3) | 429242174 | 440543381 | (11301207) |  | (3) |

---

<sup>1</sup> These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **<u>FINANCIAL RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 3.06% | 2.99% | 2.94% | 2.89% | 2.86% | 7 bps | 7 bps |  | 20 bps | 20 bps |  | 2.97% | 2.84% | 13 | bps |  |
| Net interest margin, FTE<sup>1,2</sup> | 3.07 | 3.00 | 2.95 | 2.90 | 2.87 | 7 | 7 |  | 20 | 20 |  | 2.98 | 2.85 | 13 |  |  |
| Return on average common equity | 8.16 | 7.77 | 7.18 | 6.21 | 6.64 | 39 |  |  | 152 |  |  | 7.36 | 6.27 | 109 |  |  |
| Return on average common equity, Underlying<sup>2</sup> | 8.16 | 7.77 | 7.18 | 6.21 | 6.84 | 39 |  |  | 132 |  |  | 7.36 | 6.72 | 64 |  |  |
| Return on average tangible common equity<sup>2</sup> | 12.18 | 11.75 | 11.05 | 9.64 | 10.36 | 43 |  |  | 182 |  |  | 11.20 | 9.81 | 139 |  |  |
| Return on average tangible common equity, Underlying<sup>2</sup> | 12.18 | 11.75 | 11.05 | 9.64 | 10.66 | 43 |  |  | 152 |  |  | 11.20 | 10.51 | 69 |  |  |
| Return on average total assets | 0.95 | 0.90 | 0.80 | 0.70 | 0.73 | 5 |  |  | 22 |  |  | 0.84 | 0.69 | 15 |  |  |
| Return on average total assets, Underlying<sup>2</sup> | 0.95 | 0.90 | 0.80 | 0.70 | 0.75 | 5 |  |  | 20 |  |  | 0.84 | 0.73 | 11 |  |  |
| Return on average total tangible assets<sup>2</sup> | 0.98 | 0.93 | 0.83 | 0.73 | 0.76 | 5 |  |  | 22 |  |  | 0.87 | 0.71 | 16 |  |  |
| Return on average total tangible assets, Underlying<sup>2</sup> | 0.98 | 0.93 | 0.83 | 0.73 | 0.78 | 5 |  |  | 20 |  |  | 0.87 | 0.76 | 11 |  |  |
| Effective income tax rate | 22.03 | 21.38 | 21.37 | 20.26 | 21.04 | 65 |  |  | 99 |  |  | 21.34 | 20.06 | 128 |  |  |
| Effective income tax rate, Underlying<sup>2</sup> | 22.03 | 21.38 | 21.37 | 20.26 | 21.17 | 65 |  |  | 86 |  |  | 21.34 | 20.80 | 54 |  |  |
| Efficiency ratio | 62.24 | 63.03 | 64.76 | 67.91 | 66.27 | (79) |  |  | (403) |  |  | 64.40 | 67.03 | (263) |  |  |
| Efficiency ratio, Underlying<sup>2</sup> | 62.24 | 63.03 | 64.76 | 67.91 | 65.36 | (79) |  |  | (312) |  |  | 64.40 | 65.15 | (75) |  |  |
| Noninterest income as a % of total revenue | 28.75 | 29.75 | 29.41 | 28.14 | 28.90 | (100) |  |  | (15) |  |  | 29.03 | 27.86 | 117 |  |  |
| Noninterest income as a % of total revenue, Underlying<sup>2</sup> | 28.75 | 29.75 | 29.41 | 28.14 | 28.54 | (100) |  |  | 21 |  |  | 29.03 | 27.73 | 130 |  |  |
| **<u>CAPITAL RATIOS - PERIOD-END (PRELIMINARY)</u>**  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| CET1 capital ratio | 10.6% | 10.7% | 10.6% | 10.6% | 10.8% |  |  |  |  |  |  |  |  |  |  |  |
| Tier 1 capital ratio | 11.9 | 11.9 | 11.9 | 11.9 | 12.1 |  |  |  |  |  |  |  |  |  |  |  |
| Total capital ratio | 13.8 | 13.9 | 13.8 | 13.9 | 14.0 |  |  |  |  |  |  |  |  |  |  |  |
| Tier 1 leverage ratio | 9.4 | 9.4 | 9.4 | 9.4 | 9.4 |  |  |  |  |  |  |  |  |  |  |  |
| Common equity ratio | 10.7 | 10.6 | 10.6 | 10.3 | 10.2 |  |  |  |  |  |  |  |  |  |  |  |
| Tangible common equity ratio<sup>2</sup> | 7.5 | 7.4 | 7.2 | 7.0 | 6.8 |  |  |  |  |  |  |  |  |  |  |  |
| **<u>SELECTED BALANCE SHEET DATA</u>** | **<u>SELECTED BALANCE SHEET DATA</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loan-to-deposit ratio (period-end balances) | 77.84% | 78.26% | 79.56% | 77.51% | 79.65% | (42) | bps |  | (181) | bps |  | 77.84% | 79.65% | (181) | bps |  |
| Loan-to-deposit ratio (average balances) | 78.82 | 79.57 | 79.72 | 80.89 | 80.88 | (75) | bps |  | (206) | bps |  | 79.73 | 81.77 | (204) | bps |  |
| Full-time equivalent colleagues (period-end) | 17398 | 17496 | 17677 | 17315 | 17287 | (98) |  | (1) | 111 |  | 1 | 17398 | 17287 | 111 |  | 1 |

---

<sup>1</sup>Net interest margin is presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21% to adjust for the tax-exempt status of income from certain assets held by the Company.

<sup>2</sup>These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)** 

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **4Q24** | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| **<u>INTEREST INCOME</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans and leases | $1901 | $1897 | $1851 | $1829 | $1910 | —% | —% | $7478 | $7948 | (6%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans held for sale | 22 | 31 | 36 | 16 | 21 | (29) | 5 | 105 | 77 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities | 434 | 433 | 428 | 418 | 419 |  | 4 | 1713 | 1658 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in banks | 89 | 97 | 92 | 89 | 112 | (8) | (21) | 367 | 503 | (27) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest income** | **2446** | **2458** | **2407** | **2352** | **2462** |  | (1) | **9663** | **10186** | (5) |
| **<u>INTEREST EXPENSE</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 781 | 816 | 802 | 795 | 883 | (4) | (12) | 3194 | 3825 | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds |  | 5 | 9 | 8 | 1 | (100) | (100) | 22 | 15 | 47 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term borrowed funds | 128 | 149 | 159 | 158 | 166 | (14) | (23) | 594 | 713 | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest expense** | **909** | **970** | **970** | **961** | **1050** | (6) | (13) | **3810** | **4553** | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net interest income** | **1537** | **1488** | **1437** | **1391** | **1412** | 3 | 9 | **5853** | **5633** | 4 |
| **<u>NONINTEREST INCOME</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges and fees | 112 | 112 | 111 | 109 | 109 |  | 3 | 444 | 420 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital markets fees | 140 | 166 | 105 | 100 | 121 | (16) | 16 | 511 | 467 | 9 |
| &nbsp;&nbsp;&nbsp;Wealth fees | 98 | 93 | 88 | 81 | 75 | 5 | 31 | 360 | 294 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Card fees | 86 | 87 | 90 | 83 | 97 | (1) | (11) | 346 | 368 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking fees | 52 | 49 | 73 | 59 | 60 | 6 | (13) | 233 | 209 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange and derivative products | 34 | 42 | 41 | 39 | 35 | (19) | (3) | 156 | 146 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Letter of credit and loan fees | 49 | 48 | 45 | 44 | 45 | 2 | 9 | 186 | 175 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities gains, net | 7 | 2 | 5 | 7 | 4 | 250 | 75 | 22 | 18 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income | 42 | 31 | 42 | 22 | 28 | 35 | 50 | 136 | 79 | 72 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest income** | **620** | **630** | **600** | **544** | **574** | (2) | 8 | **2394** | **2176** | 10 |
| &nbsp;&nbsp;&nbsp;**TOTAL REVENUE** | **2157** | **2118** | **2037** | **1935** | **1986** | 2 | 9 | **8247** | **7809** | 6 |
| Provision (benefit) for credit losses | 137 | 154 | 164 | 153 | 162 | (11) | (15) | 608 | 687 | (11) |
| **<u>NONINTEREST EXPENSE</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | 716 | 705 | 681 | 696 | 674 | 2 | 6 | 2798 | 2657 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment and software | 199 | 197 | 193 | 194 | 193 | 1 | 3 | 783 | 769 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services | 148 | 161 | 169 | 155 | 170 | (8) | (13) | 633 | 639 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy | 109 | 106 | 108 | 112 | 112 | 3 | (3) | 435 | 447 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating expense | 171 | 166 | 168 | 157 | 167 | 3 | 2 | 662 | 722 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest expense** | **1343** | **1335** | **1319** | **1314** | **1316** | 1 | 2 | **5311** | **5234** | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income before income tax expense** | **677** | **629** | **554** | **468** | **508** | 8 | 33 | **2328** | **1888** | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | 149 | 135 | 118 | 95 | 107 | 10 | 39 | 497 | 379 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **$528** | **$494** | **$436** | **$373** | **$401** | 7% | 32% | **$1831** | **$1509** | 21% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income, Underlying**<sup>1</sup> | **$528** | **$494** | **$436** | **$373** | **$412** | 7% | 28% | **$1831** | **$1607** | 14% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common stockholders** | **$489** | **$457** | **$402** | **$340** | **$367** | 7% | 33% | **$1688** | **$1372** | 23% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common stockholders, Underlying**<sup>1</sup> | **$489** | **$457** | **$402** | **$340** | **$378** | 7% | 29% | **$1688** | **$1470** | 15% |

---

<sup>1</sup> These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

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**CONSOLIDATED BALANCE SHEETS (unaudited)**

**(dollars in millions, except par value)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PERIOD-END BALANCES** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** |
| | **Dec 31, 2025** | **Sept 30, 2025** | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **September 30, 2025** | **December 31, 2024** |
| | | | | | | $**%** | $**%** |
| **<u>ASSETS</u>** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | $1464 | $1254 | $1107 | $1082 | $1409 | 17% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing cash and due from banks | 11263 | 10396 | 7441 | 10459 | 9192 | 8 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in banks | 961 | 694 | 680 | 685 | 635 | 38 | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities available for sale, at fair value | 35697 | 35419 | 34658 | 34208 | 32765 | 1 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities held to maturity | 7933 | 8124 | 8293 | 8469 | 8599 | (2) | (8) |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 1198 | 1334 | 2093 | 2820 | 858 | (10) | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 142692 | 140870 | 139304 | 137635 | 139203 | 1 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Allowance for loan and lease losses | (1943) | (1972) | (2008) | (2014) | (2061) | (1) | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans and leases | 140749 | 138898 | 137296 | 135621 | 137142 | 1 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 915 | 857 | 855 | 855 | 875 | 7 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank-owned life insurance | 3441 | 3422 | 3408 | 3386 | 3364 | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 115 | 123 | 129 | 137 | 146 | (7) | (21) |
| &nbsp;&nbsp;&nbsp;Other assets<sup>1</sup> | 14428 | 14039 | 14163 | 14239 | 14349 | 3 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | **$226351** | **$222747** | **$218310** | **$220148** | **$217521** | 2% | 4% |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |  |  |  |  |  |
| **<u>LIABILITIES</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $40417 | $39472 | $38001 | $37556 | $36920 | 2% | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 142896 | 140539 | 137085 | 140020 | 137856 | 2 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 183313 | 180011 | 175086 | 177576 | 174776 | 2 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 58 | 214 | 249 | 47 |  | (73) | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term borrowed funds: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FHLB advances | 2014 | 14 | 1542 | 42 | 53 | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 6328 | 6825 | 6821 | 7568 | 7168 | (7) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 2882 | 3602 | 4163 | 4657 | 5180 | (20) | (44) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term borrowed funds | 11224 | 10441 | 12526 | 12267 | 12401 | 7 | (9) |
| &nbsp;&nbsp;&nbsp;Other liabilities<sup>1</sup> | 5439 | 6252 | 5215 | 5392 | 6090 | (13) | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | **200034** | **196918** | **193076** | **195282** | **193267** | 2 | 4 |
| **<u>STOCKHOLDERS' EQUITY</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.00 par value, 100,000,000 shares authorized for each of the periods presented | 2111 | 2111 | 2113 | 2113 | 2113 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;$0.01 par value, 1,000,000,000 shares authorized for each of the periods presented | 7 | 7 | 7 | 7 | 7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 22476 | 22448 | 22420 | 22370 | 22364 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 11345 | 11056 | 10783 | 10566 | 10412 | 3 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, at cost | (7652) | (7526) | (7450) | (7249) | (7047) | (2) | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | (1970) | (2267) | (2639) | (2941) | (3595) | 13 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL STOCKHOLDERS' EQUITY** | **26317** | **25829** | **25234** | **24866** | **24254** | 2 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | **$226351** | **$222747** | **$218310** | **$220148** | **$217521** | 2% | 4% |
| &nbsp;&nbsp;&nbsp;Memo: Total tangible common equity<sup>2</sup> | $16341 | $15848 | $15246 | $14867 | $14246 | 3% | 15% |

---

<sup>1</sup> Effective for the fourth quarter of 2025, the Company modified the presentation of its Consolidated Balance Sheets to include Derivative assets and Derivative liabilities in Other assets and Other liabilities, respectively. Prior period results have been revised to conform to the new presentation.

<sup>2</sup> Represents a non-GAAP financial measure. For further information on this measure, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**LOANS AND DEPOSITS**

**(dollars in millions)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**PERIOD-END BALANCES** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** |
| | **Dec 31, 2025** | **Sept 30, 2025** | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2025** | **December 31, 2024** |
| | | | | | | $**%** | $**%** |
| &nbsp;&nbsp;&nbsp;**<u>LOANS AND LEASES</u>** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $49232 | $46953 | $45412 | $43781 | $42551 | 5% | 16% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 24580 | 25540 | 26230 | 26727 | 27225 | (4) | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 73812 | 72493 | 71642 | 70508 | 69776 | 2 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 35024 | 34477 | 33823 | 33114 | 32726 | 2 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 19069 | 18415 | 17711 | 16853 | 16495 | 4 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 2310 | 2816 | 3407 | 4044 | 4744 | (18) | (51) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 8416 | 8556 | 8550 | 8779 | 10812 | (2) | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 4061 | 4113 | 4171 | 4337 | 4650 | (1) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail | 68880 | 68377 | 67662 | 67127 | 69427 | 1 | (1) |
| &nbsp;&nbsp;&nbsp;**Total loans and leases** | $142692 | $140870 | $139304 | $137635 | $139203 | 1% | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 1198 | 1334 | 2093 | 2820 | 858 | (10) | 40 |
| &nbsp;&nbsp;&nbsp;**Loans and leases and loans held for sale** | $143890 | $142204 | $141397 | $140455 | $140061 | 1% | 3% |
| &nbsp;&nbsp;&nbsp;**<u>DEPOSITS</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing demand | $40417 | $39472 | $38001 | $37556 | $36920 | 2% | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking with interest | 37428 | 35219 | 34918 | 34456 | 33246 | 6 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 24353 | 24759 | 25400 | 25765 | 25976 | (2) | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 60062 | 59709 | 55638 | 55996 | 55321 | 1 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time | 21053 | 20852 | 21129 | 23803 | 23313 | 1 | (10) |
| &nbsp;&nbsp;&nbsp;**Total deposits** | $183313 | $180011 | $175086 | $177576 | $174776 | 2% | 5% |

---

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| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | |
| **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | |
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** |
| | **4Q25** | **4Q25** | **4Q25** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** |
|  | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | Rate |
| **<u>INTEREST-EARNING ASSETS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing cash and due from banks and deposits in banks | $9156 | $89 | 3.80% | $9015 | $97 | 4.24% | $9459 | $112 | 4.65% | $141 | ($8) | (44) bps | ($303) | ($23) | (85) bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable investment securities | 46730 | 434 | 3.71 | 46452 | 433 | 3.71 | 44822 | 419 | 3.73 | 278 | 1 |  | 1908 | 15 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-taxable investment securities | 1 |  | 2.60 | 1 |  | 2.60 | 1 |  | 2.60 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment securities | 46731 | 434 | 3.71 | 46453 | 433 | 3.71 | 44823 | 419 | 3.73 | 278 | 1 |  | 1908 | 15 | (2) |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 48108 | 605 | 4.92 | 46351 | 581 | 4.91 | 43674 | 538 | 4.82 | 1757 | 24 | 1 | 4434 | 67 | 10 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 25043 | 358 | 5.59 | 25799 | 380 | 5.76 | 27681 | 419 | 5.93 | (756) | (22) | (17) | (2638) | (61) | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 73151 | 963 | 5.15 | 72150 | 961 | 5.21 | 71355 | 957 | 5.25 | 1001 | 2 | (6) | 1796 | 6 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 34752 | 350 | 4.03 | 34134 | 339 | 3.98 | 32520 | 310 | 3.81 | 618 | 11 | 5 | 2232 | 40 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 18754 | 323 | 6.84 | 18027 | 322 | 7.07 | 16246 | 311 | 7.61 | 727 | 1 | (23) | 2508 | 12 | (77) |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 2557 | 30 | 4.60 | 3096 | 35 | 4.44 | 5129 | 56 | 4.29 | (539) | (5) | 16 | (2572) | (26) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 8469 | 128 | 6.00 | 8513 | 129 | 5.98 | 10949 | 150 | 5.48 | (44) | (1) | 2 | (2480) | (22) | 52 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 4074 | 107 | 10.34 | 4091 | 111 | 10.92 | 4748 | 126 | 10.60 | (17) | (4) | (58) | (674) | (19) | (26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 68606 | 938 | 5.44 | 67861 | 936 | 5.49 | 69592 | 953 | 5.46 | 745 | 2 | (5) | (986) | (15) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 141757 | 1901 | 5.29 | 140011 | 1897 | 5.35 | 140947 | 1910 | 5.35 | 1746 | 4 | (6) | 810 | (9) | (6) |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 1523 | 22 | 5.95 | 2119 | 31 | 5.73 | 1384 | 21 | 6.04 | (596) | (9) | 22 | 139 | 1 | (9) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-earning assets** | 199167 | 2446 | 4.86 | 197598 | 2458 | 4.92 | 196613 | 2462 | 4.96 | 1569 | (12) | (6) | 2554 | (16) | (10) |
| &nbsp;&nbsp;&nbsp;Noninterest-earning assets | 22075 |  |  | 21519 |  |  | 20935 |  |  | 556 |  |  | 1140 |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | $221242 |  |  | $219117 |  |  | $217548 |  |  | $2125 |  |  | $3694 |  |  |
| **<u>INTEREST-BEARING LIABILITIES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking with interest | $36257 | $135 | 1.48% | $34748 | $134 | 1.54% | $32720 | $123 | 1.49% | $1509 | $1 | (6) | $3537 | $12 | (1) |
| &nbsp;&nbsp;&nbsp;Savings | 24477 | 77 | 1.26 | 25001 | 86 | 1.36 | 26237 | 107 | 1.63 | (524) | (9) | (10) | (1760) | (30) | (37) |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 58904 | 377 | 2.54 | 57783 | 411 | 2.82 | 54548 | 385 | 2.81 | 1121 | (34) | (28) | 4356 | (8) | (27) |
| &nbsp;&nbsp;&nbsp;Time | 21226 | 192 | 3.57 | 20355 | 185 | 3.61 | 24053 | 268 | 4.42 | 871 | 7 | (4) | (2827) | (76) | (85) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 140864 | 781 | 2.20 | 137887 | 816 | 2.35 | 137558 | 883 | 2.55 | 2977 | (35) | (15) | 3306 | (102) | (35) |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 221 |  | 1.34 | 589 | 5 | 2.91 | 41 | 1 | 7.88 | (368) | (5) | (157) | 180 | (1) | (654) |
| &nbsp;&nbsp;&nbsp;&nbsp;FHLB advances | 35 | 1 | 3.31 | 1009 | 12 | 4.64 | 172 | 2 | 4.55 | (974) | (11) | (133) | (137) | (1) | (124) |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 6642 | 84 | 5.11 | 6823 | 88 | 5.16 | 7316 | 90 | 4.92 | (181) | (4) | (5) | (674) | (6) | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 3179 | 43 | 5.32 | 3811 | 49 | 5.16 | 5401 | 74 | 5.49 | (632) | (6) | 16 | (2222) | (31) | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term borrowed funds | 9856 | 128 | 5.17 | 11643 | 149 | 5.11 | 12889 | 166 | 5.16 | (1787) | (21) | 6 | (3033) | (38) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 10077 | 128 | 5.09 | 12232 | 154 | 5.01 | 12930 | 167 | 5.17 | (2155) | (26) | 8 | (2853) | (39) | (8) |
| &nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 150941 | 909 | 2.39 | 150119 | 970 | 2.56 | 150488 | 1050 | 2.78 | 822 | (61) | (17) | 453 | (141) | (39) |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing demand deposits | 38993 |  |  | 38070 |  |  | 36704 |  |  | 923 |  |  | 2289 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest-bearing liabilities | 5374 |  |  | 5387 |  |  | 6235 |  |  | (13) |  |  | (861) |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | 195308 |  |  | 193576 |  |  | 193427 |  |  | 1732 |  |  | 1881 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**STOCKHOLDERS' EQUITY** | 25934 |  |  | 25541 |  |  | 24121 |  |  | 393 |  |  | 1813 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | $221242 |  |  | $219117 |  |  | $217548 |  |  | $2125 |  |  | $3694 |  |  |
| **INTEREST RATE SPREAD** |  |  | 2.47% |  |  | 2.36% |  |  | 2.18% |  |  | 11 |  |  | 29 |
| **NET INTEREST INCOME AND NET INTEREST MARGIN** |  | $1537 | **3.06%** |  | $1488 | **2.99%** |  | $1412 | **2.86%** |  | $49 | 7 |  | $125 | 20 |
| **NET INTEREST INCOME AND NET INTEREST MARGIN, FTE**<sup>1</sup> |  | $1541 | **3.07%** |  | $1492 | **3.00%** |  | $1416 | **2.87%** |  | $49 | 7 |  | $125 | 20 |
| &nbsp;&nbsp;&nbsp;Memo: Total deposits (interest-bearing and noninterest-bearing demand) | $179857 | $781 | 1.72% | $175957 | $816 | 1.84% | $174262 | $883 | 2.02% | $3900 | ($35) | (12) bps | $5595 | ($102) | (30) bps |

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<br><sup>1</sup>Net interest income and net interest margin are presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21% to adjust for the tax-exempt status of income from certain assets held by the Company and are considered non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

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| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | | |
| **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | | |
| | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **2025 Change** | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Rate** |
| **<u>INTEREST-EARNING ASSETS</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing cash and due from banks and deposits in banks | $8624 | $367 | 4.20% | $9566 | $503 | 5.17% | ($942) | ($136) | (97) | bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable investment securities | 46449 | 1713 | 3.69 | 44627 | 1658 | 3.71 | 1822 | 55 | (2) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-taxable investment securities | 1 |  | 2.60 | 1 |  | 2.60 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment securities | 46450 | 1713 | 3.69 | 44628 | 1658 | 3.71 | 1822 | 55 | (2) |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 45763 | 2250 | 4.85 | 44174 | 2333 | 5.20 | 1589 | (83) | (35) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 26079 | 1509 | 5.71 | 28430 | 1795 | 6.21 | (2351) | (286) | (50) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 71842 | 3759 | 5.16 | 72604 | 4128 | 5.60 | (762) | (369) | (44) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 33800 | 1334 | 3.95 | 31916 | 1184 | 3.71 | 1884 | 150 | 24 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 17695 | 1246 | 7.04 | 15603 | 1231 | 7.89 | 2092 | 15 | (85) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 3432 | 153 | 4.44 | 6404 | 274 | 4.27 | (2972) | (121) | 17 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 9075 | 533 | 5.87 | 11340 | 613 | 5.41 | (2265) | (80) | 46 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 4233 | 453 | 10.71 | 4837 | 518 | 10.72 | (604) | (65) | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 68235 | 3719 | 5.45 | 70100 | 3820 | 5.45 | (1865) | (101) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 140077 | 7478 | 5.30 | 142704 | 7948 | 5.52 | (2627) | (470) | (22) |  |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 1897 | 105 | 5.55 | 1174 | 77 | 6.51 | 723 | 28 | (96) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-earning assets** | 197048 | 9663 | 4.88 | 198072 | 10186 | 5.10 | (1024) | (523) | (22) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-earning assets | 21549 |  |  | 20952 |  |  | 597 |  |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | $218597 |  |  | $219024 |  |  | ($427) |  |  |  |
| **<u>INTEREST-BEARING LIABILITIES</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking with interest | $34397 | $502 | 1.46% | $32943 | $491 | 1.49% | $1454 | $11 | (3) |  |
| &nbsp;&nbsp;&nbsp;Savings | 25189 | 337 | 1.34 | 27100 | 476 | 1.76 | (1911) | (139) | (42) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 56475 | 1521 | 2.69 | 53053 | 1705 | 3.21 | 3422 | (184) | (52) |  |
| &nbsp;&nbsp;&nbsp;Time | 21875 | 834 | 3.81 | 24967 | 1153 | 4.62 | (3092) | (319) | (81) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 137936 | 3194 | 2.32 | 138063 | 3825 | 2.77 | (127) | (631) | (45) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 601 | 22 | 3.62 | 252 | 15 | 5.73 | 349 | 7 | (211) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FHLB advances | 675 | 32 | 4.61 | 1319 | 74 | 5.52 | (644) | (42) | (91) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 6908 | 348 | 5.05 | 6896 | 333 | 4.84 | 12 | 15 | 21 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 4073 | 214 | 5.24 | 5616 | 306 | 5.45 | (1543) | (92) | (21) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term borrowed funds | 11656 | 594 | 5.09 | 13831 | 713 | 5.15 | (2175) | (119) | (6) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 12257 | 616 | 5.02 | 14083 | 728 | 5.16 | (1826) | (112) | (14) |  |
| &nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 150193 | 3810 | 2.54 | 152146 | 4553 | 2.99 | (1953) | (743) | (45) |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing demand deposits | 37746 |  |  | 36457 |  |  | 1289 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest-bearing liabilities | 5557 |  |  | 6466 |  |  | (909) |  |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | 193496 |  |  | 195069 |  |  | (1573) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**STOCKHOLDERS' EQUITY** | 25101 |  |  | 23955 |  |  | 1146 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | $218597 |  |  | $219024 |  |  | ($427) |  |  |  |
| **INTEREST RATE SPREAD** |  |  | 2.34% |  |  | 2.11% |  |  | 23 |  |
| **NET INTEREST INCOME AND NET INTEREST MARGIN** |  | $5853 | **2.97%** |  | $5633 | **2.84%** |  | $220 | **13** |  |
| **NET INTEREST INCOME AND NET INTEREST MARGIN, FTE**<sup>1</sup> |  | $5869 | **2.98%** |  | $5650 | **2.85%** |  | $219 | **13** |  |
| &nbsp;&nbsp;&nbsp;Memo: Total deposits (interest-bearing and noninterest-bearing demand) | $175682 | $3194 | 1.82% | $174520 | $3825 | 2.19% | $1162 | ($631) | (37) | bps |

---

<sup>1</sup> Net interest income and net interest margin are presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21% to adjust for the tax-exempt status of income from certain assets held by the Company and are considered non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**MORTGAGE BANKING FEES SUMMARY**

**(dollars in millions)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **<u>MORTGAGE BANKING FEES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Production revenue | $19 | $18 | $19 | $15 | $14 | $1 | 6% | $5 | 36% | $71 | $58 | $13 | 22% |
| Mortgage servicing revenue | 21 | 29 | 28 | 32 | 33 | (8) | (28) | (12) | (36) | 110 | 134 | (24) | (18) |
| MSR valuation changes, net of hedge impact | 12 | 2 | 26 | 12 | 13 | 10 | NM | (1) | (8) | 52 | 17 | 35 | 206 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mortgage banking fees | $52 | $49 | $73 | $59 | $60 | $3 | 6% | ($8) | (13%) | $233 | $209 | $24 | 11% |
| Pull-through adjusted locks | $2486 | $2150 | $2458 | $2112 | $1543 | $336 | 16% | $943 | 61% | $9206 | $6873 | $2333 | 34% |
| Production revenue as a percentage of Pull-through adjusted locks | 0.78% | 0.81% | 0.78% | 0.71% | 0.90% | bps |  | bps |  | 0.77% | 0.85% | (7) |  |
| **RESIDENTIAL REAL ESTATE ORIGINATIONS** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Retail | $2175 | $2019 | $2189 | $1444 | $1680 | $156 | 8% | $495 | 29% | $7827 | $6058 | $1769 | 29% |
| Third Party | 2179 | 1837 | 1916 | 1474 | 1341 | 342 | 19 | 838 | 62 | 7406 | 5060 | 2346 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4354 | $3856 | $4105 | $2918 | $3021 | $498 | 13% | $1333 | 44% | $15233 | $11118 | $4115 | 37% |
| Originated for sale | $2748 | $2379 | $2486 | $1916 | $1948 | $369 | 16% | $800 | 41% | $9529 | $7264 | $2265 | 31% |
| Originated for investment | 1606 | 1477 | 1619 | 1002 | 1073 | 129 | 9 | 533 | 50 | 5704 | 3854 | 1850 | 48 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4354 | $3856 | $4105 | $2918 | $3021 | $498 | 13% | $1333 | 44% | $15233 | $11118 | $4115 | 37% |
| **MORTGAGE SERVICING INFORMATION (UPB)** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loans serviced for others | $94877 | $95244 | $95422 | $95203 | $95600 | ($367) | —% | ($723) | (1%) | $94877 | $95600 | ($723) | (1%) |
| Owned loans serviced | 35599 | 34760 | 34284 | 33737 | 33064 | 839 | 2 | 2535 | 8 | 35599 | 33064 | 2535 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $130476 | $130004 | $129706 | $128940 | $128664 | $472 | —% | $1812 | 1% | $130476 | $128664 | $1812 | 1% |
| **MSR at fair value** | $1455 | $1430 | $1426 | $1397 | $1491 | $25 | 2% | ($36) | (2%) | $1455 | $1491 | ($36) | (2%) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

**SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING** 

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| **<u>CONSUMER BANKING</u>**<sup>1</sup> | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **4Q25** | **3Q25** | **2Q25** | **1Q25** | **4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  |  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |  |  | **$/bps** | **$/bps** | **%** |
| Net interest income | $1299 | $1262 | $1218 | $1193 | $1195 | $37 |  | 3% | $104 |  | 9% | $4972 | $4564 | $408 |  | 9% |
| Noninterest income | 315 | 311 | 329 | 297 | 311 | 4 |  | 1 | 4 |  | 1 | 1252 | 1131 | 121 |  | 11 |
| Total revenue | 1614 | 1573 | 1547 | 1490 | 1506 | 41 |  | 3 | 108 |  | 7 | 6224 | 5695 | 529 |  | 9 |
| Noninterest expense | 984 | 979 | 963 | 954 | 943 | 5 |  | 1 | 41 |  | 4 | 3880 | 3677 | 203 |  | 6 |
| Profit (loss) before credit losses | 630 | 594 | 584 | 536 | 563 | 36 |  | 6 | 67 |  | 12 | 2344 | 2018 | 326 |  | 16 |
| Net charge-offs | 80 | 81 | 81 | 86 | 82 | (1) |  | (1) | (2) |  | (2) | 328 | 331 | (3) |  | (1) |
| Income (loss) before income tax expense (benefit) | 550 | 513 | 503 | 450 | 481 | 37 |  | 7 | 69 |  | 14 | 2016 | 1687 | 329 |  | 20 |
| Income tax expense (benefit) | 139 | 130 | 127 | 114 | 123 | 9 |  | 7 | 16 |  | 13 | 510 | 434 | 76 |  | 18 |
| Net income (loss) | $411 | $383 | $376 | $336 | $358 | $28 |  | 7% | $53 |  | 15% | $1506 | $1253 | $253 |  | 20% |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets | $82552 | $80729 | $78822 | $77534 | $76637 | $1823 |  | 2% | $5915 |  | 8% | $79925 | $75064 | $4861 |  | 6% |
| Total loans and leases<sup>2</sup> | 75980 | 74274 | 72402 | 71054 | 70274 | 1706 |  | 2 | 5706 |  | 8 | 73443 | 68681 | 4762 |  | 7 |
| Deposits | 131488 | 128547 | 127271 | 125728 | 124552 | 2941 |  | 2 | 6936 |  | 6 | 128275 | 121745 | 6530 |  | 5 |
| Interest-earning assets | 76583 | 74870 | 72988 | 71635 | 70857 | 1713 |  | 2 | 5726 |  | 8 | 74035 | 69272 | 4763 |  | 7 |
| **<u>KEY METRICS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 6.73% | 6.69% | 6.69% | 6.76% | 6.72% | 4 | bps |  | 1 | bps |  | 6.72% | 6.59% | 13 | bps |  |
| Efficiency ratio | 60.98 | 62.22 | 62.24 | 64.06 | 62.59 | (124) | bps |  | (161) | bps |  | 62.35 | 64.55 | (220) | bps |  |
| Loan-to-deposit ratio (period-end balances) | 57.28 | 57.40 | 57.24 | 54.97 | 55.85 | (12) | bps |  | 143 | bps |  | 57.28 | 55.85 | 143 | bps |  |
| Loan-to-deposit ratio (average balances) | 57.19 | 57.16 | 56.26 | 56.04 | 55.88 | 3 | bps |  | 131 | bps |  | 56.67 | 55.92 | 75 | bps |  |

---

<sup>1</sup> During the fourth quarter of 2025, the Company's Non-Core operating segment no longer met the criteria to be considered a reportable segment and, therefore, it is now reported as part of the Company's Other non-segment operations. In addition, certain activities within Other non-segment operations were transferred to the Consumer and Commercial Banking segments due to organizational changes. Prior period results were recast to conform to the new segment presentation.

<sup>2</sup> Includes loans held for sale.

------

**SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING**

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| **<u>COMMERCIAL BANKING</u>**<sup>1</sup> | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **4Q25** | **3Q25** | **2Q25** | **1Q25** | **4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  |  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |  |  | **$/bps** | **$/bps** | **%** |
| Net interest income | $450 | $448 | $439 | $441 | $464 | $2 |  | —% | ($14) |  | (3%) | $1778 | $1950 | ($172) |  | (9%) |
| Noninterest income | 262 | 286 | 232 | 215 | 232 | (24) |  | (8) | 30 |  | 13 | 995 | 908 | 87 |  | 10 |
| Total revenue | 712 | 734 | 671 | 656 | 696 | (22) |  | (3) | 16 |  | 2 | 2773 | 2858 | (85) |  | (3) |
| Noninterest expense | 357 | 333 | 317 | 327 | 313 | 24 |  | 7 | 44 |  | 14 | 1334 | 1241 | 93 |  | 7 |
| Profit (loss) before credit losses | 355 | 401 | 354 | 329 | 383 | (46) |  | (11) | (28) |  | (7) | 1439 | 1617 | (178) |  | (11) |
| Net charge-offs | 70 | 78 | 84 | 77 | 91 | (8) |  | (10) | (21) |  | (23) | 309 | 353 | (44) |  | (12) |
| Income (loss) before income tax expense (benefit) | 285 | 323 | 270 | 252 | 292 | (38) |  | (12) | (7) |  | (2) | 1130 | 1264 | (134) |  | (11) |
| Income tax expense (benefit) | 70 | 75 | 64 | 56 | 68 | (5) |  | (7) | 2 |  | 3 | 265 | 291 | (26) |  | (9) |
| Net income (loss) | $215 | $248 | $206 | $196 | $224 | ($33) |  | (13%) | ($9) |  | (4%) | $865 | $973 | ($108) |  | (11%) |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets | $66750 | $66134 | $66284 | $65366 | $66787 | $616 |  | 1% | ($37) |  | —% | $66137 | $68478 | ($2341) |  | (3%) |
| Total loans and leases<sup>2</sup> | 63356 | 62905 | 63057 | 62437 | 63789 | 451 |  | 1 | (433) |  | (1) | 62941 | 65481 | (2540) |  | (4) |
| Deposits | 45443 | 44482 | 42481 | 42178 | 43597 | 961 |  | 2 | 1846 |  | 4 | 43657 | 44472 | (815) |  | (2) |
| Interest-earning assets | 64248 | 63719 | 63710 | 63018 | 64419 | 529 |  | 1 | (171) |  |  | 63677 | 65982 | (2305) |  | (3) |
| **<u>KEY METRICS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 2.78% | 2.78% | 2.78% | 2.83% | 2.86% |  | bps |  | (8) | bps |  | 2.79% | 2.96% | (17) | bps |  |
| Efficiency ratio | 50.09 | 45.15 | 47.47 | 49.77 | 44.78 | 494 | bps |  | 531 | bps |  | 48.07 | 43.40 | 467 | bps |  |
| Loan-to-deposit ratio (period-end balances) | 132.96 | 132.70 | 139.59 | 142.21 | 139.43 | 26 | bps |  | (647) | bps |  | 132.96 | 139.43 | (647) | bps |  |
| Loan-to-deposit ratio (average balances) | 138.26 | 140.06 | 146.90 | 146.86 | 144.70 | (180) | bps |  | (644) | bps |  | 142.87 | 145.95 | (308) | bps |  |

---

<sup>1</sup> During the fourth quarter of 2025, the Company's Non-Core operating segment no longer met the criteria to be considered a reportable segment and, therefore, it is now reported as part of the Company's Other non-segment operations. In addition, certain activities within Other non-segment operations were transferred to the Consumer and Commercial Banking segments due to organizational changes. Prior period results were recast to conform to the new segment presentation.

<sup>2</sup> Includes loans held for sale.

------

**SEGMENT FINANCIAL HIGHLIGHTS - OTHER**

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| **<u>OTHER</u>**<sup>1,2</sup> | | | | | | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** |
|  | **4Q25** | **3Q25** | **2Q25** | **1Q25** | **4Q24** | **3Q25** | **4Q24** | **2025** | **2024** | **2024** |
|  |  |  |  |  |  | $**%** | $**%** |  |  | $**%** |
| Net interest income | ($212) | ($222) | ($220) | ($243) | ($247) | 5% | 14% | ($897) | ($881) | (2%) |
| Noninterest income | 43 | 33 | 39 | 32 | 31 | 30 | 39 | 147 | 137 | 7 |
| Total revenue | (169) | (189) | (181) | (211) | (216) | 11 | 22 | (750) | (744) | (1) |
| Noninterest expense | 2 | 23 | 39 | 33 | 60 | (91) | (97) | 97 | 316 | (69) |
| Profit (loss) before provision (benefit) for credit losses | (171) | (212) | (220) | (244) | (276) | 19 | 38 | (847) | (1060) | 20 |
| Provision (benefit) for credit losses | (13) | (5) | (1) | (10) | (11) | (160) | (18) | (29) | 3 | NM |
| Income (loss) before income tax expense (benefit) | (158) | (207) | (219) | (234) | (265) | 24 | 40 | (818) | (1063) | 23 |
| Income tax expense (benefit) | (60) | (70) | (73) | (75) | (84) | 14 | 29 | (278) | (346) | 20 |
| Net income (loss) | ($98) | ($137) | ($146) | ($159) | ($181) | 28% | 46% | ($540) | ($717) | 25% |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |
| Total assets | $71940 | $72254 | $72555 | $73409 | $74124 | —% | (3%) | $72535 | $75482 | (4%) |
| Total loans and leases<sup>3</sup> | 3944 | 4950 | 6104 | 7406 | 8268 | (20) | (52) | 5590 | 9715 | (42) |
| Deposits | 2926 | 2928 | 4376 | 4799 | 6113 |  | (52) | 3750 | 8303 | (55) |
| Interest-earning assets | 58336 | 59009 | 59620 | 60406 | 61338 | (1) | (5) | 59336 | 62817 | (6) |

---

<sup>1</sup> During the fourth quarter of 2025, the Company's Non-Core operating segment no longer met the criteria to be considered a reportable segment and, therefore, it is now reported as part of the Company's Other non-segment operations. In addition, certain activities within Other non-segment operations were transferred to the Consumer and Commercial Banking segments due to organizational changes. Prior period results were recast to conform to the new segment presentation.

<sup>2</sup> Consists primarily of treasury and community development, and includes assets, liabilities, capital, revenues, provision (benefit) for credit losses, expenses, and income tax expense (benefit) not attributed to our Consumer Banking or Commercial Banking segments.

<sup>3</sup> Includes loans held for sale.

------

**CREDIT-RELATED INFORMATION** 

**(dollars in millions)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** |
| | **Dec 31, 2025** | **Sept 30, 2025** | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2025** | **Sept 30, 2025** | **Sept 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| | | | | | | **$/bps/%** | **$/bps/%** | **%** | **$/bps/%** | **$/bps/%** | **%** |
| **<u>NONACCRUAL LOANS AND LEASES</u>** | | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $277 | $230 | $233 | $283 | $241 | $47 |  | 20% | $36 |  | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 618 | 703 | 706 | 700 | 776 | (85) |  | (12) | (158) |  | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 895 | 933 | 939 | 983 | 1017 | (38) |  | (4) | (122) |  | (12) |
| &nbsp;&nbsp;&nbsp;Residential mortgages<sup>1</sup> | 196 | 188 | 198 | 198 | 192 | 8 |  | 4 | 4 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 319 | 297 | 282 | 282 | 283 | 22 |  | 7 | 36 |  | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 28 | 31 | 34 | 39 | 48 | (3) |  | (10) | (20) |  | (42) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 20 | 20 | 19 | 20 | 56 |  |  |  | (36) |  | (64) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 46 | 49 | 52 | 60 | 68 | (3) |  | (6) | (22) |  | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 609 | 585 | 585 | 599 | 647 | 24 |  | 4 | (38) |  | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans and leases | 1504 | 1518 | 1524 | 1582 | 1664 | (14) |  | (1) | (160) |  | (10) |
| **<u>ASSET QUALITY RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses to loans and leases | 1.36% | 1.40% | 1.44% | 1.46% | 1.48% | (4) | bps |  | (12) | bps |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses to loans and leases | 1.53 | 1.56 | 1.59 | 1.61 | 1.62 | (3) | bps |  | (9) | bps |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses to nonaccrual loans and leases | 129 | 130 | 132 | 127 | 124 | (1 | %) |  | 5 | % |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses to nonaccrual loans and leases | 145 | 145 | 145 | 140 | 136 |  | % |  | 9 | % |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans and leases to loans and leases | 1.05 | 1.08 | 1.09 | 1.15 | 1.20 | (3) | bps |  | (15) | bps |  |

---

<sup>1</sup> Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.

------

**CREDIT-RELATED INFORMATION, CONTINUED**

**(dollars in millions)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** |
| | **Dec 31, 2025** | **Sept 30, 2025** | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2025** | **Sept 30, 2025** | **December 31, 2024** | **December 31, 2024** |
| | | | | | | **$/bps** | **%** | **$/bps** | **%** |
| **<u>LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING</u>** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $5 | $39 | $3 | $9 | $8 | ($34) | (87%) | ($3) | (38%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 20 | 7 | 60 | 4 | 6 | 13 | 186 | 14 | 233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 25 | 46 | 63 | 13 | 14 | (21) | (46) | 11 | 79 |
| &nbsp;&nbsp;&nbsp;Residential mortgages<sup>1</sup> | 141 | 114 | 128 | 138 | 179 | 27 | 24 | (38) | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 1 |  |  |  |  | 1 | 100 | 1 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 2 | 2 | 2 | 3 | 2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail |  |  | 1 | 1 | 1 |  |  | (1) | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 144 | 116 | 131 | 142 | 182 | 28 | 24 | (38) | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | $169 | $162 | $194 | $155 | $196 | $7 | 4% | ($27) | (14%) |

---

<sup>1</sup> 90+ days past due and accruing includes $141 million, $114 million, $128 million, $137 million, and $172 million of loans fully or partially guaranteed by the FHA, VA, and USDA for December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, respectively.

------

**CREDIT-RELATED INFORMATION, CONTINUED** 

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **4Q24** | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| &nbsp;&nbsp;&nbsp;**<u>CHARGE-OFFS, RECOVERIES AND RELATED RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**<u>GROSS CHARGE-OFFS</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $40 | $33 | $39 | $34 | $22 | 21% | 82% | $146 | $107 | 36% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 42 | 58 | 54 | 51 | 89 | (28) | (53) | 205 | 312 | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 82 | 91 | 93 | 85 | 111 | (10) | (26) | 351 | 419 | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 5 | 1 |  | 1 |  | NM | 100 | 7 | 4 | 75 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 5 | 3 | 4 | 5 | 6 | 67 | (17) | 17 | 18 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 12 | 13 | 14 | 20 | 22 | (8) | (45) | 59 | 94 | (37) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 26 | 25 | 26 | 56 | 33 | 4 | (21) | 133 | 126 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 57 | 62 | 64 | 67 | 66 | (8) | (14) | 250 | 262 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 105 | 104 | 108 | 149 | 127 | 1 | (17) | 466 | 504 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total gross charge-offs** | $187 | $195 | $201 | $234 | $238 | (4%) | (21%) | $817 | $923 | (11%) |
| &nbsp;&nbsp;&nbsp;**<u>GROSS RECOVERIES</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $6 | $3 | $— | $4 | $7 | 100% | (14%) | $13 | $31 | (58%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 1 | 3 | 1 |  | 7 | (67) | (86) | 5 | 12 | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 7 | 6 | 1 | 4 | 14 | 17 | (50) | 18 | 43 | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages |  | 1 |  | 1 | 1 | (100) | (100) | 2 | 4 | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 5 | 6 | 6 | 5 | 7 | (17) | (29) | 22 | 25 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 9 | 9 | 11 | 12 | 12 |  | (25) | 41 | 53 | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 6 | 5 | 8 | 5 | 5 | 20 | 20 | 24 | 21 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 5 | 6 | 8 | 7 | 10 | (17) | (50) | 26 | 31 | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 25 | 27 | 33 | 30 | 35 | (7) | (29) | 115 | 134 | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total gross recoveries** | $32 | $33 | $34 | $34 | $49 | (3%) | (35%) | $133 | $177 | (25%) |
| &nbsp;&nbsp;&nbsp;**<u>NET CHARGE-OFFS (RECOVERIES)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $34 | $30 | $39 | $30 | $15 | 13% | 127% | $133 | $76 | 75% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 41 | 55 | 53 | 51 | 82 | (25) | (50) | 200 | 300 | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 75 | 85 | 92 | 81 | 97 | (12) | (23) | 333 | 376 | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 5 |  |  |  | (1) | 100 | NM | 5 |  | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity |  | (3) | (2) |  | (1) | 100 | 100 | (5) | (7) | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 3 | 4 | 3 | 8 | 10 | (25) | (70) | 18 | 41 | (56) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 20 | 20 | 18 | 51 | 28 |  | (29) | 109 | 105 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 52 | 56 | 56 | 60 | 56 | (7) | (7) | 224 | 231 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 80 | 77 | 75 | 119 | 92 | 4 | (13) | 351 | 370 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net charge-offs** | $155 | $162 | $167 | $200 | $189 | (4%) | (18%) | $684 | $746 | (8%) |

---

------

**CREDIT-RELATED INFORMATION, CONTINUED**

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| &nbsp;&nbsp;**<u>ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Commercial and industrial | 0.28% | 0.26% | 0.35% | 0.28% | 0.14% | 2 | bps |  | 14 | bps |  | 0.29% | 0.17% | 12 | bps |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | 0.64 | 0.85 | 0.80 | 0.77 | 1.17 | (21) |  |  | (53) |  |  | 0.77 | 1.05 | (28) |  |  |
| &nbsp;&nbsp;&nbsp;Total commercial | 0.40 | 0.47 | 0.51 | 0.47 | 0.54 | (7) |  |  | (14) |  |  | 0.46 | 0.52 | (6) |  |  |
| &nbsp;&nbsp;&nbsp;Residential mortgages | 0.05 |  |  | 0.01 |  | 5 |  |  | 5 |  |  | 0.01 |  | 1 |  |  |
| &nbsp;&nbsp;&nbsp;Home equity |  | (0.06) | (0.05) | (0.01) | (0.01) | 6 |  |  | 1 |  |  | (0.03) | (0.04) | 1 |  |  |
| &nbsp;&nbsp;&nbsp;Automobile | 0.60 | 0.43 | 0.36 | 0.73 | 0.83 | 17 |  |  | (23) |  |  | 0.54 | 0.65 | (11) |  |  |
| &nbsp;&nbsp;&nbsp;Education | 0.94 | 0.92 | 0.86 | 1.92 | 1.01 | 2 |  |  | (7) |  |  | 1.20 | 0.93 | 27 |  |  |
| &nbsp;&nbsp;&nbsp;Other retail | 5.02 | 5.45 | 5.23 | 5.46 | 4.54 | (43) |  |  | 48 |  |  | 5.29 | 4.75 | 54 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail | 0.46 | 0.45 | 0.45 | 0.70 | 0.53 | 1 |  |  | (7) |  |  | 0.51 | 0.53 | (2) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | **0.43%** | **0.46%** | **0.48%** | **0.58%** | **0.53%** | (3) | bps |  | (10) | bps |  | **0.49%** | **0.52%** | (3) | bps |  |
| &nbsp;&nbsp;**<u>Memo: Average loans</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Commercial and industrial | $48108 | $46351 | $44936 | $43599 | $43674 | $1757 |  | 4% | $4434 |  | 10% | $45763 | $44174 | $1589 |  | 4% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | 25043 | 25799 | 26487 | 27013 | 27681 | (756) |  | (3) | (2638) |  | (10) | 26079 | 28430 | (2351) |  | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 73151 | 72150 | 71423 | 70612 | 71355 | 1001 |  | 1 | 1796 |  | 3 | 71842 | 72604 | (762) |  | (1) |
| &nbsp;&nbsp;&nbsp;Residential mortgages | 34752 | 34134 | 33420 | 32872 | 32520 | 618 |  | 2 | 2232 |  | 7 | 33800 | 31916 | 1884 |  | 6 |
| &nbsp;&nbsp;&nbsp;Home equity | 18754 | 18027 | 17324 | 16647 | 16246 | 727 |  | 4 | 2508 |  | 15 | 17695 | 15603 | 2092 |  | 13 |
| &nbsp;&nbsp;&nbsp;Automobile | 2557 | 3096 | 3705 | 4394 | 5129 | (539) |  | (17) | (2572) |  | (50) | 3432 | 6404 | (2972) |  | (46) |
| &nbsp;&nbsp;&nbsp;Education | 8469 | 8513 | 8660 | 10690 | 10949 | (44) |  | (1) | (2480) |  | (23) | 9075 | 11340 | (2265) |  | (20) |
| &nbsp;&nbsp;&nbsp;Other retail | 4074 | 4091 | 4277 | 4495 | 4748 | (17) |  |  | (674) |  | (14) | 4233 | 4837 | (604) |  | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail | 68606 | 67861 | 67386 | 69098 | 69592 | 745 |  | 1 | (986) |  | (1) | 68235 | 70100 | (1865) |  | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | **$141757** | **$140011** | **$138809** | **$139710** | **$140947** | $1746 |  | 1% | $810 |  | 1% | **$140077** | **$142704** | ($2627) |  | (2%) |

---

------

**CREDIT-RELATED INFORMATION, CONTINUED**

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| **<u>SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES</u>** |  |  |  |  |  |  |  |  |  |  |
| **Allowance for loan and lease losses - beginning** | $1972 | $2008 | $2014 | $2061 | $2079 | (2%) | (5%) | $2061 | $2098 | (2%) |
| Charge-offs: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 82 | 91 | 93 | 85 | 111 | (10) | (26) | 351 | 419 | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 105 | 104 | 108 | 149 | 127 | 1 | (17) | 466 | 504 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | 187 | 195 | 201 | 234 | 238 | (4) | (21) | 817 | 923 | (11) |
| Recoveries: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 7 | 6 | 1 | 4 | 14 | 17 | (50) | 18 | 43 | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 25 | 27 | 33 | 30 | 35 | (7) | (29) | 115 | 134 | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 32 | 33 | 34 | 34 | 49 | (3) | (35) | 133 | 177 | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | 155 | 162 | 167 | 200 | 189 | (4) | (18) | 684 | 746 | (8) |
| Provision (benefit) for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 50 | 62 | 50 | 89 | 50 | (19) |  | 251 | 266 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 76 | 64 | 111 | 64 | 121 | 19 | (37) | 315 | 443 | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total provision (benefit) for loan and lease losses | 126 | 126 | 161 | 153 | 171 |  | (26) | 566 | 709 | (20) |
| **Allowance for loan and lease losses - ending** | $1943 | $1972 | $2008 | $2014 | $2061 | (1%) | (6%) | $1943 | $2061 | (6%) |
| **Allowance for unfunded lending commitments - beginning** | $229 | $201 | $198 | $198 | $207 | 14% | 11% | $198 | $220 | (10%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for unfunded lending commitments | 11 | 28 | 3 |  | (9) | (61%) | NM | 42 | (22) | NM |
| **Allowance for unfunded lending commitments - ending** | $240 | $229 | $201 | $198 | $198 | 5% | 21% | $240 | $198 | 21% |
| **Total allowance for credit losses - ending** | $2183 | $2201 | $2209 | $2212 | $2259 | (1%) | (3%) | $2183 | $2259 | (3%) |
| **Memo: Total allowance for credit losses by product** |  |  |  |  |  |  |  |  |  |  |
| Commercial | $1252 | $1265 | $1269 | $1312 | $1295 | (1%) | (3%) | $1252 | $1295 | (3%) |
| Retail | 931 | 936 | 940 | 900 | 964 | (1) | (3) | 931 | 964 | (3) |
| Total allowance for credit losses | $2183 | $2201 | $2209 | $2212 | $2259 | (1%) | (3%) | $2183 | $2259 | (3%) |

---

------

**CAPITAL AND RATIOS** 

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **DECEMBER 31, 2025 CHANGE** | **DECEMBER 31, 2025 CHANGE** | | | **2025 Change** |
| |<br>**Dec 31, 2025** |<br>**Sept 30, 2025** |<br>**June 30, 2025** |<br>**Mar 31, 2025** |<br>**Dec 31, 2024** | **Sept 30, 2025** | **December 31, 2024** | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| **<u>CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)</u>** |  |  |  |  |  |  |  |  |  |  |
| CET1 capital | $18240 | $18046 | $17812 | $17751 | $17900 | 1% | 2% |  |  |  |
| Tier 1 capital | 20351 | 20157 | 19925 | 19864 | 20013 | 1 | 2 |  |  |  |
| Total capital | 23654 | 23455 | 23221 | 23156 | 23232 | 1 | 2 |  |  |  |
| Risk-weighted assets | 171493 | 168932 | 168017 | 166908 | 165699 | 2 | 3 |  |  |  |
| Adjusted average assets<sup>1</sup> | 215390 | 213536 | 212450 | 211119 | 212555 | 1 | 1 |  |  |  |
| CET1 capital ratio | 10.6% | 10.7% | 10.6% | 10.6% | 10.8% |  |  |  |  |  |
| Tier 1 capital ratio | 11.9 | 11.9 | 11.9 | 11.9 | 12.1 |  |  |  |  |  |
| Total capital ratio | 13.8 | 13.9 | 13.8 | 13.9 | 14.0 |  |  |  |  |  |
| Tier 1 leverage ratio | 9.4 | 9.4 | 9.4 | 9.4 | 9.4 |  |  |  |  |  |
| **<u>TANGIBLE COMMON EQUITY (PERIOD-END)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stockholders' equity | $24206 | $23718 | $23121 | $22753 | $22141 | 2% | 9% | $24206 | $22141 | 9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Goodwill | 8187 | 8187 | 8187 | 8187 | 8187 |  |  | 8187 | 8187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Other intangible assets | 115 | 123 | 128 | 137 | 146 | (7) | (21) | 115 | 146 | (21) |
| &nbsp;&nbsp;&nbsp;Add: Deferred tax liabilities<sup>2</sup> | 437 | 440 | 440 | 438 | 438 | (1) |  | 437 | 438 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total tangible common equity<sup>3</sup> | $16341 | $15848 | $15246 | $14867 | $14246 | 3% | 15% | $16341 | $14246 | 15% |
| **<u>TANGIBLE COMMON EQUITY (AVERAGE)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stockholders' equity | $23823 | $23288 | $22494 | $22188 | $22009 | 2% | 8% | $22954 | $21881 | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Goodwill | 8187 | 8187 | 8187 | 8187 | 8187 |  |  | 8187 | 8187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Other intangible assets | 120 | 126 | 134 | 142 | 136 | (5) | (12) | 131 | 143 | (8) |
| &nbsp;&nbsp;&nbsp;Add: Deferred tax liabilities<sup>2</sup> | 440 | 440 | 438 | 438 | 436 |  | 1 | 439 | 433 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total tangible common equity<sup>3</sup> | $15956 | $15415 | $14611 | $14297 | $14122 | 4% | 13% | $15075 | $13984 | 8% |
| **<u>INTANGIBLE ASSETS (PERIOD-END)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | $8187 | $8187 | $8187 | $8187 | $8187 | —% | —% | $8187 | $8187 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 115 | 123 | 128 | 137 | 146 | (7) | (21) | 115 | 146 | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total intangible assets | $8302 | $8310 | $8315 | $8324 | $8333 | —% | —% | $8302 | $8333 | —% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup> Adjusted average assets include quarterly average assets, less deductions for disallowed goodwill and other intangible assets, net of deferred taxes, and the accumulated other comprehensive <br> income impact related to the adoption of post-retirement benefit plan guidance under GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>2</sup> Deferred tax liabilities relate to tax-deductible goodwill and other intangible assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>3</sup> These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS** 

**(dollars in millions, except per share data)**

<u>Non-GAAP Financial Measures</u>

This document contains non-GAAP financial measures, with those denoted as Underlying for any given reporting period excluding certain items that may occur in that period which management does not consider indicative of the Company's on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe those measures denoted as Underlying in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. The following tables present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **4Q24** | **2025** | **2024** | **2024** |
| | | | | | | | $**%** | $**%** | | | $**%** |
| **Noninterest income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest income (GAAP) | A | $620 | $630 | $600 | $544 | $574 | (2%) | 8% | $2394 | $2176 | 10% |
| Less: Notable items |  |  |  |  |  | 10 |  | (100) |  | 15 | (100) |
| Noninterest income, Underlying (non-GAAP) | B | $620 | $630 | $600 | $544 | $564 | (2%) | 10% | $2394 | $2161 | 11% |
| **Total revenue, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | C | $2157 | $2118 | $2037 | $1935 | $1986 | 2% | 9% | $8247 | $7809 | 6% |
| Less: Notable items |  |  |  |  |  | 10 |  | (100) |  | 15 | (100) |
| Total revenue, Underlying (non-GAAP) | D | $2157 | $2118 | $2037 | $1935 | $1976 | 2% | 9% | $8247 | $7794 | 6% |
| **Noninterest expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest expense (GAAP) | E | $1343 | $1335 | $1319 | $1314 | $1316 | 1% | 2% | $5311 | $5234 | 1% |
| Less: Notable items |  |  |  |  |  | 24 |  | (100) |  | 156 | (100) |
| Noninterest expense, Underlying (non-GAAP) | F | $1343 | $1335 | $1319 | $1314 | $1292 | 1% | 4% | $5311 | $5078 | 5% |
| **Pre-provision profit:** |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | C | $2157 | $2118 | $2037 | $1935 | $1986 | 2% | 9% | $8247 | $7809 | 6% |
| Less: Noninterest expense (GAAP) | E | 1343 | 1335 | 1319 | 1314 | 1316 | 1 | 2 | 5311 | 5234 | 1 |
| Pre-provision profit (non-GAAP) |  | $814 | $783 | $718 | $621 | $670 | 4% | 21% | $2936 | $2575 | 14% |
| **Pre-provision profit, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | D | $2157 | $2118 | $2037 | $1935 | $1976 | 2% | 9% | $8247 | $7794 | 6% |
| Less: Noninterest expense, Underlying (non-GAAP) | F | 1343 | 1335 | 1319 | 1314 | 1292 | 1 | 4 | 5311 | 5078 | 5 |
| Pre-provision profit, Underlying (non-GAAP) |  | $814 | $783 | $718 | $621 | $684 | 4% | 19% | $2936 | $2716 | 8% |
| **Income before income tax expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Income before income tax expense (GAAP) | G | $677 | $629 | $554 | $468 | $508 | 8% | 33% | $2328 | $1888 | 23% |
| Less: Income (expense) before income tax expense (benefit) related to notable items |  |  |  |  |  | (14) |  | 100 |  | (141) | 100 |
| Income before income tax expense, Underlying (non-GAAP) | H | $677 | $629 | $554 | $468 | $522 | 8% | 30% | $2328 | $2029 | 15% |
| **Income tax expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Income tax expense (GAAP) | I | $149 | $135 | $118 | $95 | $107 | 10% | 39% | $497 | $379 | 31% |
| Less: Income tax expense (benefit) related to notable items |  |  |  |  |  | (3) |  | 100 |  | (43) | 100 |
| Income tax expense, Underlying (non-GAAP) | J | $149 | $135 | $118 | $95 | $110 | 10% | 35% | $497 | $422 | 18% |
| **Net income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Net income (GAAP) | K | $528 | $494 | $436 | $373 | $401 | 7% | 32% | $1831 | $1509 | 21% |
| Add: Notable items, net of income tax benefit |  |  |  |  |  | 11 |  | (100) |  | 98 | (100) |
| Net income, Underlying (non-GAAP) | L | $528 | $494 | $436 | $373 | $412 | 7% | 28% | $1831 | $1607 | 14% |
| **Net income available to common stockholders, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Net income available to common stockholders (GAAP) | M | $489 | $457 | $402 | $340 | $367 | 7% | 33% | $1688 | $1372 | 23% |
| Add: Notable items, net of income tax benefit |  |  |  |  |  | 11 |  | (100) |  | 98 | (100) |
| Net income available to common stockholders, Underlying (non-GAAP) | N | $489 | $457 | $402 | $340 | $378 | 7% | 29% | $1688 | $1470 | 15% |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **Operating leverage:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | C | $2157 | $2118 | $2037 | $1935 | $1986 | $39 |  | 1.86% | $171 |  | 8.57% | $8247 | $7809 | $438 |  | 5.60% |
| Less: Noninterest expense (GAAP) | E | 1343 | 1335 | 1319 | 1314 | 1316 | 8 |  | 0.58 | 27 |  | 1.97 | 5311 | 5234 | 77 |  | 1.46 |
| Operating leverage |  |  |  |  |  |  |  |  | 1.28% |  |  | 6.60% |  |  |  |  | 4.14% |
| **Operating leverage, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | D | $2157 | $2118 | $2037 | $1935 | $1976 | $39 |  | 1.86% | $181 |  | 9.11% | $8247 | $7794 | $453 |  | 5.80% |
| Less: Noninterest expense, Underlying (non-GAAP) | F | 1343 | 1335 | 1319 | 1314 | 1292 | 8 |  | 0.58 | 51 |  | 3.90 | 5311 | 5078 | 233 |  | 4.57 |
| Operating leverage, Underlying (non-GAAP) |  |  |  |  |  |  |  |  | 1.28% |  |  | 5.21% |  |  |  |  | 1.23% |
| **Efficiency ratio and efficiency ratio, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Efficiency ratio | E/C | 62.24% | 63.03% | 64.76% | 67.91% | 66.27% | (79) | bps |  | (403) | bps |  | 64.40% | 67.03% | (263) | bps |  |
| Efficiency ratio, Underlying (non-GAAP) | F/D | 62.24 | 63.03 | 64.76 | 67.91 | 65.36 | (79) | bps |  | (312) | bps |  | 64.40 | 65.15 | (75) | bps |  |
| **Noninterest income as a % of total revenue, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest income as a % of total revenue | A/C | 28.75% | 29.75% | 29.41% | 28.14% | 28.90% | (100) | bps |  | (15) | bps |  | 29.03% | 27.86% | 117 | bps |  |
| Noninterest income as a % of total revenue, Underlying (non-GAAP) | B/D | 28.75 | 29.75 | 29.41 | 28.14 | 28.54 | (100) | bps |  | 21 | bps |  | 29.03 | 27.73 | 130 | bps |  |
| **Effective income tax rate and effective income tax rate, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Effective income tax rate | I/G | 22.03% | 21.38% | 21.37% | 20.26% | 21.04% | 65 | bps |  | 99 | bps |  | 21.34% | 20.06% | 128 | bps |  |
| &nbsp;&nbsp;&nbsp;Effective income tax rate, Underlying (non-GAAP) | J/H | 22.03 | 21.38 | 21.37 | 20.26 | 21.17 | 65 | bps |  | 86 | bps |  | 21.34 | 20.80 | 54 | bps |  |
| **Return on average common equity and return on average common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Average common equity (GAAP) | O | $23823 | $23288 | $22494 | $22188 | $22009 | $535 |  | 2% | $1814 |  | 8% | $22954 | $21881 | $1073 |  | 5% |
| &nbsp;&nbsp;&nbsp;Return on average common equity | M/O | 8.16% | 7.77% | 7.18% | 6.21% | 6.64% | 39 | bps |  | 152 | bps |  | 7.36% | 6.27% | 109 | bps |  |
| &nbsp;&nbsp;&nbsp;Return on average common equity, Underlying (non-GAAP) | N/O | 8.16 | 7.77 | 7.18 | 6.21 | 6.84 | 39 | bps |  | 132 | bps |  | 7.36 | 6.72 | 64 | bps |  |
| **Return on average tangible common equity and return on average tangible common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common equity (GAAP) | O | $23823 | $23288 | $22494 | $22188 | $22009 | $535 |  | 2% | $1814 |  | 8% | $22954 | $21881 | $1073 |  | 5% |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |  |  |  |  | 8187 | 8187 |  |  |  |
| Less: Average other intangibles (GAAP) |  | 120 | 126 | 134 | 142 | 136 | (6) |  | (5) | (16) |  | (12) | 131 | 143 | (12) |  | (8) |
| Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 440 | 438 | 438 | 436 |  |  |  | 4 |  | 1 | 439 | 433 | 6 |  | 1 |
| Average tangible common equity (non-GAAP) | P | $15956 | $15415 | $14611 | $14297 | $14122 | $541 |  | 4% | $1834 |  | 13% | $15075 | $13984 | $1091 |  | 8% |
| &nbsp;&nbsp;Return on average tangible common equity (non-GAAP) | M/P | 12.18% | 11.75% | 11.05% | 9.64% | 10.36% | 43 | bps |  | 182 | bps |  | 11.20% | 9.81% | 139 | bps |  |
| &nbsp;&nbsp;&nbsp;Return on average tangible common equity, Underlying (non-GAAP) | N/P | 12.18 | 11.75 | 11.05 | 9.64 | 10.66 | 43 | bps |  | 152 | bps |  | 11.20 | 10.51 | 69 | bps |  |
| **Return on average total assets and return on average total assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | Q | $221242 | $219117 | $217661 | $216309 | $217548 | $2125 | $2125 | 1% | $3694 | $3694 | 2% | $218597 | $219024 | ($427) | ($427) | —% |
| &nbsp;&nbsp;&nbsp;Return on average total assets | K/Q | 0.95% | 0.90% | 0.80% | 0.70% | 0.73% | 5 | bps |  | 22 | bps |  | 0.84% | 0.69% | 15 | bps |  |
| &nbsp;&nbsp;&nbsp;Return on average total assets, Underlying (non-GAAP) | L/Q | 0.95 | 0.90 | 0.80 | 0.70 | 0.75 | 5 | bps |  | 20 | bps |  | 0.84 | 0.73 | 11 | bps |  |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **Return on average total tangible assets and return on average total tangible assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | Q | $221242 | $219117 | $217661 | $216309 | $217548 | $2125 | 1% | $3694 | 2% | $218597 | $219024 | ($427) | —% |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |  |  | 8187 | 8187 |  |  |
| Less: Average other intangibles (GAAP) |  | 120 | 126 | 134 | 142 | 136 | (6) | (5) | (16) | (12) | 131 | 143 | (12) | (8) |
| &nbsp;&nbsp;&nbsp;Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 440 | 438 | 438 | 436 |  |  | 4 | 1 | 439 | 433 | 6 | 1 |
| Average tangible assets (non-GAAP) | R | $213375 | $211244 | $209778 | $208418 | $209661 | $2131 | 1% | $3714 | 2% | $210718 | $211127 | ($409) | —% |
| Return on average total tangible assets (non-GAAP) | K/R | 0.98% | 0.93% | 0.83% | 0.73% | 0.76% | 5 |  | 22 |  | 0.87% | 0.71% | 16 |  |
| Return on average total tangible assets, Underlying (non-GAAP) | L/R | 0.98 | 0.93 | 0.83 | 0.73 | 0.78 | 5 |  | 20 |  | 0.87 | 0.76 | 11 |  |
| **Book value per common share and tangible book value per common share:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common shares - at period-end (GAAP) | S | 429242174 | 431453142 | 432768811 | 437668127 | 440543381 | (2210968) | (1%) | (11301207) | (3%) | 429242174 | 440543381 | (11301207) | (3%) |
| Common stockholders' equity (GAAP) | T | $24206 | $23718 | $23121 | $22753 | $22141 | $488 | 2 | $2065 | 9 | $24206 | $22141 | $2065 | 9 |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |  |  | 8187 | 8187 |  |  |
| Less: Other intangible assets (GAAP) |  | 115 | 123 | 128 | 137 | 146 | (8) | (7) | (31) | (21) | 115 | 146 | (31) | (21) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 437 | 440 | 440 | 438 | 438 | (3) | (1) | (1) |  | 437 | 438 | (1) |  |
| Tangible common equity (non-GAAP) | U | $16341 | $15848 | $15246 | $14867 | $14246 | $493 | 3% | $2095 | 15% | $16341 | $14246 | $2095 | 15% |
| Book value per common share (GAAP) | T/S | $56.39 | $54.97 | $53.43 | $51.99 | $50.26 | $1.42 | 3% | $6.13 | 12% | $56.39 | $50.26 | $6.13 | 12% |
| Tangible book value per common share (non-GAAP) | U/S | 38.07 | 36.73 | 35.23 | 33.97 | 32.34 | 1.34 | 4 | 5.73 | 18 | 38.07 | 32.34 | 5.73 | 18 |
| **Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common shares outstanding - basic (GAAP) | V | 429483110 | 431365552 | 433640210 | 438320757 | 440802738 | (1882442) | —% | (11319628) | (3%) | 433173162 | 450678038 | (17504876) | (4%) |
| Average common shares outstanding - diluted (GAAP) | W | 434077960 | 435472350 | 436539774 | 442200180 | 444836786 | (1394390) |  | (10758826) | (2) | 436890731 | 453510245 | (16619514) | (4) |
| Net income per average common share - basic (GAAP) | M/V | $1.14 | $1.06 | $0.93 | $0.78 | $0.83 | $0.08 | 8 | $0.31 | 37 | $3.90 | $3.05 | $0.85 | 28 |
| Net income per average common share - diluted (GAAP) | M/W | 1.13 | 1.05 | 0.92 | 0.77 | 0.83 | 0.08 | 8 | 0.30 | 36 | 3.86 | 3.03 | 0.83 | 27 |
| Net income per average common share - basic, Underlying (non-GAAP) | N/V | 1.14 | 1.06 | 0.93 | 0.78 | 0.86 | 0.08 | 8 | 0.28 | 33 | 3.90 | 3.26 | 0.64 | 20 |
| Net income per average common share - diluted, Underlying (non-GAAP) | N/W | 1.13 | 1.05 | 0.92 | 0.77 | 0.85 | 0.08 | 8 | 0.28 | 33 | 3.86 | 3.24 | 0.62 | 19 |
| **Dividend payout ratio and dividend payout ratio, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash dividends declared and paid per common share | X | $0.46 | $0.42 | $0.42 | $0.42 | $0.42 | $0.04 | 10% | $0.04 | 10% | $1.72 | $1.68 | $0.04 | 2% |
| Dividend payout ratio | X/(M/V) | 40% | 40% | 45% | 54% | 51% | 73 bps |  | (1025) bps |  | 44% | 55% | (1098) bps |  |
| Dividend payout ratio, Underlying (non-GAAP) | X/(N/V) | 40 | 40 | 45 | 54 | 49 | 73 bps |  | (865) bps |  | 44 | 52 | (800) bps |  |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| | |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **Common equity ratio and tangible common equity ratio:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets (GAAP) | Y | $226351 | $222747 | $218310 | $220148 | $217521 | $3604 | $3604 | 2% | $8830 | $8830 | 4% | $226351 | $217521 | $8830 | $8830 | 4 |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |  |  |  |  | 8187 | 8187 |  |  |  |
| Less: Other intangible assets (GAAP) |  | 115 | 123 | 128 | 137 | 146 | (8) | (8) | (7) | (31) | (31) | (21) | 115 | 146 | (31) | (31) | (21) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 437 | 440 | 440 | 438 | 438 | (3) | (3) | (1) | (1) | (1) |  | 437 | 438 | (1) | (1) |  |
| Tangible assets (non-GAAP) | Z | $218486 | $214877 | $210435 | $212262 | $209626 | $3609 | $3609 | 2% | $8860 | $8860 | 4% | $218486 | $209626 | $8860 | $8860 | 4% |
| Common equity ratio (GAAP) | T/Y | 10.7% | 10.6% | 10.6% | 10.3% | 10.2% | 4 bps | 4 bps |  | 51 bps | 51 bps |  | 10.7% | 10.2% | 51 bps | 51 bps |  |
| Tangible common equity ratio (non-GAAP) | U/Z | 7.5 | 7.4 | 7.2 | 7.0 | 6.8 | 10 bps | 10 bps |  | 70 bps | 70 bps |  | 7.5 | 6.8 | 70 bps | 70 bps |  |
| **Net interest income and net interest margin on an FTE basis:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest income (annualized) (GAAP) | AA | $6098 | $5902 | $5770 | $5637 | $5620 | $196 |  | 3% | $478 |  | 9% | $5853 | $5633 | $220 |  | 4% |
| Average interest-earning assets (GAAP) | BB | 199167 | 197598 | 196318 | 195058 | 196613 | 1569 |  | 1 | 2554 |  | 1 | 197048 | 198072 | (1024) |  | (1) |
| Net interest margin (GAAP) | AA/BB | 3.06% | 2.99% | 2.94% | 2.89% | 2.86% | 7 | bps |  | 20 | bps |  | 2.97% | 2.84% | 13 | bps |  |
| Net interest income (GAAP) |  | $1537 | $1488 | $1437 | $1391 | $1412 | $49 |  | 3% | $125 |  | 9% | $5853 | $5633 | $220 |  | 4% |
| FTE adjustment |  | 4 | 4 | 4 | 4 | 4 |  |  |  |  |  |  | 16 | 17 | (1) |  | (6) |
| Net interest income on an FTE basis (non-GAAP) |  | 1541 | 1492 | 1441 | 1395 | 1416 | 49 |  | 3 | 125 |  | 9 | 5869 | 5650 | 219 |  | 4 |
| Net interest income on an FTE basis (annualized) (non-GAAP) | CC | 6112 | 5919 | 5786 | 5653 | 5637 | 194 |  | 3 | 475 |  | 8 | 5869 | 5650 | 219 |  | 4 |
| Net interest margin on an FTE basis (non-GAAP) | CC/BB | 3.07% | 3.00% | 2.95% | 2.90% | 2.87% | 7 | bps |  | 20 | bps |  | 2.98% | 2.85% | 13 | bps |  |
| **Card fees, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Card fees (GAAP) |  | $86 | $87 | $90 | $83 | $97 | ($1) |  | (1%) | ($11) |  | (11%) | $346 | $368 | ($22) |  | (6%) |
| Less: Notable items |  |  |  |  |  | 11 |  |  |  | (11) |  | (100) |  | 24 | (24) |  | (100) |
| Card fees, Underlying (non-GAAP) |  | $86 | $87 | $90 | $83 | $86 | ($1) |  | (1%) | $— |  | —% | $346 | $344 | $2 |  | 1% |
| **Other income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other income (GAAP) |  | $42 | $31 | $42 | $22 | $28 | $11 |  | 35% | $14 |  | 50% | $136 | $79 | $57 |  | 72% |
| Less: Notable items |  |  |  |  |  | (1) |  |  |  | 1 |  | 100 |  | (9) | 9 |  | 100 |
| Other income, Underlying (non-GAAP) |  | $42 | $31 | $42 | $22 | $29 | $11 |  | 35% | $13 |  | 45% | $136 | $88 | $48 |  | 55% |
| **Salaries and employee benefits, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits (GAAP) |  | $716 | $705 | $681 | $696 | $674 | $11 |  | 2% | $42 |  | 6% | $2798 | $2657 | $141 |  | 5% |
| Less: Notable items |  |  |  |  |  | 17 |  |  |  | (17) |  | (100) |  | 46 | (46) |  | (100) |
| Salaries and employee benefits, Underlying (non-GAAP) |  | $716 | $705 | $681 | $696 | $657 | $11 |  | 2% | $59 |  | 9% | $2798 | $2611 | $187 |  | 7% |
| **Equipment and software, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equipment and software (GAAP) |  | $199 | $197 | $193 | $194 | $193 | $2 |  | 1% | $6 |  | 3% | $783 | $769 | $14 |  | 2% |
| Less: Notable items |  |  |  |  |  | 3 |  |  |  | (3) |  | (100) |  | 17 | (17) |  | (100) |
| Equipment and software, Underlying (non-GAAP) |  | $199 | $197 | $193 | $194 | $190 | $2 |  | 1% | $9 |  | 5% | $783 | $752 | $31 |  | 4% |
| **Outside services, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Outside services (GAAP) |  | $148 | $161 | $169 | $155 | $170 | ($13) |  | (8%) | ($22) |  | (13%) | $633 | $639 | ($6) |  | (1%) |
| Less: Notable items |  |  |  |  |  | 4 |  |  |  | (4) |  | (100) |  | 28 | (28) |  | (100) |
| Outside services, Underlying (non-GAAP) |  | $148 | $161 | $169 | $155 | $166 | ($13) |  | (8%) | ($18) |  | (11%) | $633 | $611 | $22 |  | 4% |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** | **FULL YEAR** |
| | | | | | | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | **4Q25 Change** | | | **2025 Change** | **2025 Change** |
| |<br>**4Q25** |<br>**3Q25** |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** | **3Q25** | **3Q25** | **4Q24** | **4Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **Occupancy, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Occupancy (GAAP) | $109 | $106 | $108 | $112 | $112 | $3 | 3% | ($3) | (3%) | $435 | $447 | ($12) | (3%) |
| Less: Notable items |  |  |  |  | 5 |  |  | (5) | (100) |  | 19 | (19) | (100) |
| Occupancy, Underlying (non-GAAP) | $109 | $106 | $108 | $112 | $107 | $3 | 3% | $2 | 2% | $435 | $428 | $7 | 2% |
| **Other operating expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other operating expense (GAAP) | $171 | $166 | $168 | $157 | $167 | $5 | 3% | $4 | 2% | $662 | $722 | ($60) | (8%) |
| Less: Notable items |  |  |  |  | (5) |  |  | 5 | 100 |  | 46 | (46) | (100) |
| Other operating expense, Underlying (non-GAAP) | $171 | $166 | $168 | $157 | $172 | $5 | 3% | ($1) | (1%) | $662 | $676 | ($14) | (2%) |

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