Citizens Financial : 1Q26 FINANCIAL SUPPLEMENT
CFG
Published on 04/16/2026 at 06:34 am EDT
Consolidated Financial Highlights 3
Consolidated Statements of Operations (unaudited) 4
Consolidated Balance Sheets (unaudited) 5
Loans and Deposits 6
Average Balance Sheets, Annualized Yields and Rates 7
Mortgage Banking Fees 8
Segment Financial Highlights 9
Credit-Related Information:
Nonaccrual loans and leases 12
Loans and Leases 90 Days or More Past Due and Accruing 13
Charge-offs, Recoveries, and Related Ratios 14
Summary of Changes in the Components of the Allowance for Credit Losses 16
Capital and Ratios 17
Non-GAAP Financial Measures and Reconciliations 18
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 (www.sec.gov) or on the Company's website (www.citizensbank.com). The Company's future financial performance is subject to the risks and uncertainties described in its SEC filings.
$/bps
%
$/bps %
SELECTED OPERATING DATA
Total revenue
A
$2,168
$2,157
$2,118
$2,037
$1,935
$11
1%
$233 12%
Noninterest expense
B
1,378
1,343
1,335
1,319
1,314
35
3
64 5
Pre-provision profit1
790
814
783
718
621
(24)
(3)
169
27
Provision (benefit) for credit losses
140
137
154
164
153
3
2
(13)
(8)
NET INCOME
517
528
494
436
373
(11)
(2)
144
39
Net income available to common stockholders
484
489
457
402
340
(5)
(1)
144
42
PER COMMON SHARE DATA
Basic earnings
$1.14
$1.14
$1.06
$0.93
$0.78
$-
-%
$0.36
46%
Diluted earnings
1.13
1.13
1.05
0.92
0.77
-
-
0.36
47
Cash dividends declared and paid per common share
0.46
0.46
0.42
0.42
0.42
-
-
0.04
10
Book value per common share
56.48
56.39
54.97
53.43
51.99
0.09
-
4.49
9
Tangible book value per common share1
37.94
38.07
36.73
35.23
33.97
(0.13)
-
3.97
12
Dividend payout ratio
40 %
40 %
40 %
45 %
54 %
- bps
(1,350) bps
COMMON SHARES OUTSTANDING
Average: Basic
425,344,491
429,483,110
431,365,552
433,640,210
438,320,757
(4,138,619)
(1%)
(12,976,266)
(3%)
Diluted
429,894,837
434,077,960
435,472,350
436,539,774
442,200,180
(4,183,123)
(1)
(12,305,343)
(3)
Common shares at period-end
426,023,578
429,242,174
431,453,142
432,768,811
437,668,127
(3,218,596)
(1)
(11,644,549)
(3)
FINANCIAL RATIOS
Net interest margin
3.14 %
3.06 %
2.99 %
2.94 %
2.89 %
8 bps
25 bps
Net interest margin, FTE1,2
3.14
3.07
3.00
2.95
2.90
7
24
Return on average common equity
8.19
8.16
7.77
7.18
6.21
3
198
Return on average tangible common equity1
12.19
12.18
11.75
11.05
9.64
1
255
Return on average total assets
0.94
0.95
0.90
0.80
0.70
(1)
24
Return on average total tangible assets1
0.97
0.98
0.93
0.83
0.73
(1)
24
Effective income tax rate
20.46
22.03
21.38
21.37
20.26
(157)
20
Efficiency ratio
B/A
63.55
62.24
63.03
64.76
67.91
131
(436)
Noninterest income as a % of total revenue
27.95
28.75
29.75
29.41
28.14
(80)
(19)
Operating leverage:
Total revenue
$2,168
$2,157
$1,935
$11
0.53%
$233
12.11%
Less: Noninterest expense
1,378
1,343
1,314
35
2.65
64
4.91
Operating leverage
(2.12%)
7.20%
CAPITAL RATIOS - PERIOD-END (PRELIMINARY)
CET1 capital ratio
10.5 %
10.6 %
10.7 %
10.6 %
10.6 %
Tier 1 capital ratio
11.7
11.9
11.9
11.9
11.9
Total capital ratio
13.7
13.8
13.9
13.8
13.9
Tier 1 leverage ratio
9.3
9.5
9.4
9.4
9.4
Common equity ratio
10.6
10.7
10.6
10.6
10.3
Tangible common equity ratio1
7.3
7.5
7.4
7.2
7.0
SELECTED BALANCE SHEET DATA
Loan-to-deposit ratio (period-end balances)
78.07 %
77.84 %
78.26 %
79.56 %
77.51 %
23 bps
56 bps
Loan-to-deposit ratio (average balances)
79.09
78.82
79.57
79.72
80.89
27 bps
(180) bps
Full-time equivalent colleagues (period-end)
17,380
17,398
17,496
17,677
17,315
(18)
-
65
-
1 These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."
2 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.
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$
%
$
%
INTEREST INCOME
Interest and fees on loans and leases
$1,884
$1,901
$1,897
$1,851
$1,829
($17)
(1%)
$55
3%
Interest and fees on loans held for sale
21
22
31
36
16
(1)
(5)
5
31
Investment securities
424
434
433
428
418
(10)
(2)
6
1
Interest-bearing deposits in banks
91
89
97
92
89
2
2
2
2
Total interest income
2,420
2,446
2,458
2,407
2,352
(26)
(1)
68
3
INTEREST EXPENSE
Deposits
715
781
816
802
795
(66)
(8)
(80)
(10)
Short-term borrowed funds
4
-
5
9
8
4
100
(4)
(50)
Long-term borrowed funds
139
128
149
159
158
11
9
(19)
(12)
Total interest expense
858
909
970
970
961
(51)
(6)
(103)
(11)
Net interest income
1,562
1,537
1,488
1,437
1,391
25
2
171
12
NONINTEREST INCOME
Service charges and fees
112
112
112
111
109
-
-
3
3
Capital markets fees
134
140
166
105
100
(6)
(4)
34
34
Wealth fees
100
98
93
88
81
2
2
19
23
Card fees
83
86
87
90
83
(3)
(3)
-
-
Mortgage banking fees
42
52
49
73
59
(10)
(19)
(17)
(29)
Foreign exchange and derivative products
44
34
42
41
39
10
29
5
13
Letter of credit and loan fees
50
49
48
45
44
1
2
6
14
Securities gains, net
7
7
2
5
7
-
-
-
-
Other income
34
42
31
42
22
(8)
(19)
12
55
Total noninterest income
606
620
630
600
544
(14)
(2)
62
11
TOTAL REVENUE
2,168
2,157
2,118
2,037
1,935
11
1
233
12
Provision (benefit) for credit losses
140
137
154
164
153
3
2
(13)
(8)
NONINTEREST EXPENSE
Salaries and employee benefits
758
716
705
681
696
42
6
62
9
Equipment and software
197
199
197
193
194
(2)
(1)
3
2
Outside services
162
148
161
169
155
14
9
7
5
Occupancy
114
109
106
108
112
5
5
2
2
Other operating expense
147
171
166
168
157
(24)
(14)
(10)
(6)
Total noninterest expense
1,378
1,343
1,335
1,319
1,314
35
3
64
5
Income before income tax expense
650
677
629
554
468
(27)
(4)
182
39
Income tax expense
133
149
135
118
95
(16)
(11)
38
40
Net income
$517
$528
$494
$436
$373
($11)
(2%)
$144
39%
Net income available to common stockholders
$484
$489
$457
$402
$340
($5)
(1%)
$144
42%
$
%
$
%
ASSETS
Cash and due from banks
$1,084
$1,464
$1,254
$1,107
$1,082
($380)
(26%)
$2
-%
Interest-bearing cash and due from banks
11,246
11,263
10,396
7,441
10,459
(17)
-
787
8
Interest-bearing deposits in banks
830
961
694
680
685
(131)
(14)
145
21
Debt securities available for sale, at fair value
36,361
35,697
35,419
34,658
34,208
664
2
2,153
6
Debt securities held to maturity
7,800
7,933
8,124
8,293
8,469
(133)
(2)
(669)
(8)
Loans held for sale
1,537
1,198
1,334
2,093
2,820
339
28
(1,283)
(45)
Loans and leases
143,667
142,692
140,870
139,304
137,635
975
1
6,032
4
Less: Allowance for loan and lease losses
(1,958)
(1,943)
(1,972)
(2,008)
(2,014)
(15)
1
56
(3)
Net loans and leases
141,709
140,749
138,898
137,296
135,621
960
1
6,088
4
Premises and equipment
874
915
857
855
855
(41)
(4)
19
2
Bank-owned life insurance
3,464
3,441
3,422
3,408
3,386
23
1
78
2
Goodwill
8,221
8,187
8,187
8,187
8,187
34
-
34
-
Other intangible assets
112
115
123
129
137
(3)
(3)
(25)
(18)
Other assets
14,680
14,428
14,039
14,163
14,239
252
2
441
3
TOTAL ASSETS
$227,918
$226,351
$222,747
$218,310
$220,148
$1,567
1%
$7,770
4%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits:
Noninterest-bearing
$41,672
$40,417
$39,472
$38,001
$37,556
$1,255
3%
$4,116
11%
Interest-bearing
142,363
142,896
140,539
137,085
140,020
(533)
-
2,343
2
Total deposits
184,035
183,313
180,011
175,086
177,576
722
-
6,459
4
Short-term borrowed funds
54
58
214
249
47
(4)
(7)
7
15
Long-term borrowed funds:
FHLB advances
2,513
2,014
14
1,542
42
499
25
2,471
NM
Senior debt
7,076
6,328
6,825
6,821
7,568
748
12
(492)
(7)
Subordinated debt and other debt
2,671
2,882
3,602
4,163
4,657
(211)
(7)
(1,986)
(43)
Total long-term borrowed funds
12,260
11,224
10,441
12,526
12,267
1,036
9
(7)
-
Other liabilities
5,397
5,439
6,252
5,215
5,392
(42)
(1)
5
-
TOTAL LIABILITIES
201,746
200,034
196,918
193,076
195,282
1,712
1
6,464
3
STOCKHOLDERS' EQUITY
Preferred stock:
$25.00 par value, 100,000,000 shares authorized for each of the periods presented
2,111
2,111
2,111
2,113
2,113
-
-
(2)
-
Common stock:
$0.01 par value, 1,000,000,000 shares authorized for each of the periods presented
7
7
7
7
7
-
-
-
-
Additional paid-in capital
22,466
22,476
22,448
22,420
22,370
(10)
-
96
-
Retained earnings
11,631
11,345
11,056
10,783
10,566
286
3
1,065
10
Treasury stock, at cost
(7,955)
(7,652)
(7,526)
(7,450)
(7,249)
(303)
(4)
(706)
(10)
Accumulated other comprehensive income (loss)
(2,088)
(1,970)
(2,267)
(2,639)
(2,941)
(118)
(6)
853
29
TOTAL STOCKHOLDERS' EQUITY
26,172
26,317
25,829
25,234
24,866
(145)
(1)
1,306
5
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$227,918
$226,351
$222,747
$218,310
$220,148
$1,567
1%
$7,770
4%
Memo: Total tangible common equity1
$16,165
$16,341
$15,848
$15,246
$14,867
($176)
(1%)
$1,298
9%
1 Represents a non-GAAP financial measure. For further information on this measure, refer to "Non-GAAP Financial Measures and Reconciliations."
PERIOD-END BALANCES
AS OF
MARCH 31, 2026 CHANGE
Mar 31, 2026
Dec 31, 2025
Sept 30, 2025
June 30, 2025
Mar 31, 2025
Dec 31, 2025
March 31, 2025
$
%
$
%
LOANS AND LEASES
Commercial and industrial
$50,307
$49,232
$46,953
$45,412
$43,781
$1,075
2%
$6,526
15%
Commercial real estate
24,282
24,580
25,540
26,230
26,727
(298)
(1)
(2,445)
(9)
Total commercial
74,589
73,812
72,493
71,642
70,508
777
1
4,081
6
Residential mortgages
35,404
35,024
34,477
33,823
33,114
380
1
2,290
7
Home equity
19,449
19,069
18,415
17,711
16,853
380
2
2,596
15
Automobile
1,863
2,310
2,816
3,407
4,044
(447)
(19)
(2,181)
(54)
Education
8,340
8,416
8,556
8,550
8,779
(76)
(1)
(439)
(5)
Other retail
4,022
4,061
4,113
4,171
4,337
(39)
(1)
(315)
(7)
Total retail
69,078
68,880
68,377
67,662
67,127
198
-
1,951
3
Total loans and leases
$143,667
$142,692
$140,870
$139,304
$137,635
$975
1%
$6,032
4%
Loans held for sale
1,537
1,198
1,334
2,093
2,820
339
28
(1,283)
(45)
Loans and leases and loans held for sale
$145,204
$143,890
$142,204
$141,397
$140,455
$1,314
1%
$4,749
3%
DEPOSITS
Noninterest-bearing demand
$41,672
$40,417
$39,472
$38,001
$37,556
$1,255
3%
$4,116
11%
Checking with interest
37,675
37,428
35,219
34,918
34,456
247
1
3,219
9
Savings
24,114
24,353
24,759
25,400
25,765
(239)
(1)
(1,651)
(6)
Money market
59,611
60,062
59,709
55,638
55,996
(451)
(1)
3,615
6
Time
20,963
21,053
20,852
21,129
23,803
(90)
-
(2,840)
(12)
Total deposits
$184,035
$183,313
$180,011
$175,086
$177,576
$722
-%
$6,459
4%
INTEREST-EARNING ASSETS
Interest-bearing cash and due from banks and deposits in banks
$10,079
$91
3.60%
$9,156
$89
3.80%
$8,092
$89
4.42%
$923
$2
(20) bps
$1,987
$2
(82) bps
Taxable investment securities
46,928
424
3.62
46,730
434
3.71
46,068
418
3.63
198
(10)
(9)
860
6
(1)
Non-taxable investment securities
1
-
2.60
1
-
2.60
1
-
2.60
-
-
-
-
-
-
Total investment securities
46,929
424
3.62
46,731
434
3.71
46,069
418
3.63
198
(10)
(9)
860
6
(1)
Commercial and industrial
50,140
644
5.14
48,108
605
4.92
43,599
515
4.72
2,032
39
22
6,541
129
42
Commercial real estate
24,401
328
5.38
25,043
358
5.59
27,013
387
5.74
(642)
(30)
(21)
(2,612)
(59)
(36)
Total commercial
74,541
972
5.22
73,151
963
5.15
70,612
902
5.11
1,390
9
7
3,929
70
11
Residential mortgages
35,090
353
4.03
34,752
350
4.03
32,872
318
3.86
338
3
-
2,218
35
17
Home equity
19,230
307
6.47
18,754
323
6.84
16,647
293
7.13
476
(16)
(37)
2,583
14
(66)
Automobile
2,090
24
4.68
2,557
30
4.60
4,394
47
4.38
(467)
(6)
8
(2,304)
(23)
30
Education
8,442
127
6.08
8,469
128
6.00
10,690
148
5.61
(27)
(1)
8
(2,248)
(21)
47
Other retail
4,017
101
10.22
4,074
107
10.34
4,495
121
10.91
(57)
(6)
(12)
(478)
(20)
(69)
Total retail
68,869
912
5.34
68,606
938
5.44
69,098
927
5.41
263
(26)
(10)
(229)
(15)
(7)
Total loans and leases
143,410
1,884
5.28
141,757
1,901
5.29
139,710
1,829
5.26
1,653
(17)
(1)
3,700
55
2
Loans held for sale
1,511
21
5.65
1,523
22
5.95
1,187
16
5.34
(12)
(1)
(30)
324
5
31
Total interest-earning assets
201,929
2,420
4.81
199,167
2,446
4.86
195,058
2,352
4.84
2,762
(26)
(5)
6,871
68
(3)
Noninterest-earning assets
22,295
22,075
21,251
220
1,044
TOTAL ASSETS
$224,224
$221,242
$216,309
$2,982
$7,915
INTEREST-BEARING LIABILITIES
Checking with interest
$37,027
$122
1.33%
$36,257
$135
1.48%
$32,693
$110
1.36%
$770
($13)
(15)
$4,334
$12
(3)
Savings
24,095
65
1.10
24,477
77
1.26
25,760
89
1.39
(382)
(12)
(16)
(1,665)
(24)
(29)
Money market
60,141
350
2.36
58,904
377
2.54
54,432
357
2.66
1,237
(27)
(18)
5,709
(7)
(30)
Time
20,766
178
3.46
21,226
192
3.57
23,277
239
4.17
(460)
(14)
(11)
(2,511)
(61)
(71)
Total interest-bearing deposits
142,029
715
2.04
140,864
781
2.20
136,162
795
2.37
1,165
(66)
(16)
5,867
(80)
(33)
Short-term borrowed funds
454
4
3.74
221
-
1.34
675
8
4.53
233
4
240
(221)
(4)
(79)
FHLB advances
1,408
14
4.02
35
1
3.31
595
7
4.57
1,373
13
71
813
7
(55)
Senior debt
6,843
86
5.04
6,642
84
5.11
7,133
86
4.85
201
2
(7)
(290)
-
19
Subordinated debt and other debt
2,824
39
5.50
3,179
43
5.32
4,929
65
5.30
(355)
(4)
18
(2,105)
(26)
20
Total long-term borrowed funds
11,075
139
5.03
9,856
128
5.17
12,657
158
5.01
1,219
11
(14)
(1,582)
(19)
2
Total borrowed funds
11,529
143
4.98
10,077
128
5.09
13,332
166
4.99
1,452
15
(11)
(1,803)
(23)
(1)
Total interest-bearing liabilities
153,558
858
2.26
150,941
909
2.39
149,494
961
2.60
2,617
(51)
(13)
4,064
(103)
(34)
Noninterest-bearing demand deposits
39,286
38,993
36,543
293
2,743
Other noninterest-bearing liabilities
5,274
5,374
5,971
(100)
(697)
TOTAL LIABILITIES
198,118
195,308
192,008
2,810
6,110
STOCKHOLDERS' EQUITY
26,106
25,934
24,301
172
1,805
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$224,224
$221,242
$216,309
$2,982
$7,915
INTEREST RATE SPREAD
2.55 %
2.47 %
2.24 %
8
31
NET INTEREST INCOME AND NET INTEREST MARGIN
$1,562
3.14 %
$1,537
3.06 %
$1,391
2.89 %
$25
8
$171
25
NET INTEREST INCOME AND NET INTEREST MARGIN, FTE1
$1,565
3.14 %
$1,541
3.07 %
$1,395
2.90 %
$24
7
$170
24
Memo: Total deposits (interest-bearing and noninterest-bearing demand)
$181,315
$715
1.60 %
$179,857
$781
1.72 %
$172,705
$795
1.87 %
$1,458
($66)
(12) bps
$8,610
($80)
(27) bps
1Net 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."
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$/bps
%
$/bps
%
MORTGAGE BANKING FEES
Production revenue
$21
$19
$18
$19
$15
$2
11%
$6
40%
Mortgage servicing revenue
24
21
29
28
32
3
14
(8)
(25)
MSR valuation changes, net of hedge impact
(3)
12
2
26
12
(15)
NM
(15)
NM
Total mortgage banking fees
$42
$52
$49
$73
$59
($10)
(19%)
($17)
(29%)
Pull-through adjusted locks
$2,299
$2,486
$2,150
$2,458
$2,112
($187)
(8%)
$187
9%
Production revenue as a percentage of Pull-through adjusted locks 0.90 % 0.78 % 0.81 % 0.78 % 0.71 % 12 bps 19 bps
RESIDENTIAL REAL ESTATE ORIGINATIONS
Retail
$1,944
$2,175
$2,019
$2,189
$1,444
($231)
(11%)
$500
35%
Third Party
1,854
2,179
1,837
1,916
1,474
(325)
(15)
380
26
Total
$3,798
$4,354
$3,856
$4,105
$2,918
($556)
(13%)
$880
30%
Originated for sale
$2,415
$2,748
$2,379
$2,486
$1,916
($333)
(12%)
$499
26%
Originated for investment
1,383
1,606
1,477
1,619
1,002
(223)
(14)
381
38
Total
$3,798
$4,354
$3,856
$4,105
$2,918
($556)
(13%)
$880
30%
MORTGAGE SERVICING INFORMATION (UPB)
Loans serviced for others
$94,794
$94,877
$95,244
$95,422
$95,203
($83)
-%
($409)
-%
Owned loans serviced
35,888
35,599
34,760
34,284
33,737
289
1
2,151
6
Total
$130,682
$130,476
$130,004
$129,706
$128,940
$206
-%
$1,742
1%
MSR at fair value
$1,462
$1,455
$1,430
$1,426
$1,397
$7
-%
$65
5%
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$/bps
%
$/bps
%
Net interest income
$1,309
$1,299
$1,262
$1,218
$1,193
$10
1%
$116
10%
Noninterest income
299
315
311
329
297
(16)
(5)
2
1
Total revenue
1,608
1,614
1,573
1,547
1,490
(6)
-
118
8
Noninterest expense
1,028
984
979
963
954
44
4
74
8
Profit (loss) before credit losses
580
630
594
584
536
(50)
(8)
44
8
Net charge-offs
71
80
81
81
86
(9)
(11)
(15)
(17)
Income (loss) before income tax expense (benefit)
509
550
513
503
450
(41)
(7)
59
13
Income tax expense (benefit)
131
139
130
127
114
(8)
(6)
17
15
Net income (loss)
$378
$411
$383
$376
$336
($33)
(8%)
$42
13%
AVERAGE BALANCES
Total assets
$83,870
$82,552
$80,729
$78,822
$77,534
$1,318
2%
$6,336
8%
Total loans and leases1
77,089
75,980
74,274
72,402
71,054
1,109
1
6,035
8
Deposits
133,126
131,488
128,547
127,271
125,728
1,638
1
7,398
6
Interest-earning assets
77,695
76,583
74,870
72,988
71,635
1,112
1
6,060
8
KEY METRICS
Net interest margin
6.83 %
6.73 %
6.69 %
6.69 %
6.76 %
10 bps
7 bps
Efficiency ratio
63.94
60.98
62.22
62.24
64.06
296 bps
(12) bps
Loan-to-deposit ratio (period-end balances)
56.55
57.28
57.40
57.24
54.97
(73) bps
158 bps
Loan-to-deposit ratio (average balances)
57.36
57.19
57.16
56.26
56.04
17 bps
132 bps
1 Includes loans held for sale.
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$/bps
%
$/bps
%
Net interest income
$456
$450
$448
$439
$441
$6
1%
$15
3%
Noninterest income
263
262
286
232
215
1
-
48
22
Total revenue
719
712
734
671
656
7
1
63
10
Noninterest expense
334
357
333
317
327
(23)
(6)
7
2
Profit (loss) before credit losses
385
355
401
354
329
30
8
56
17
Net charge-offs
64
70
78
84
77
(6)
(9)
(13)
(17)
Income (loss) before income tax expense (benefit)
321
285
323
270
252
36
13
69
27
Income tax expense (benefit)
78
70
75
64
56
8
11
22
39
Net income (loss)
$243
$215
$248
$206
$196
$28
13%
$47
24%
AVERAGE BALANCES
Total assets
$67,737
$66,750
$66,134
$66,284
$65,366
$987
1%
$2,371
4%
Total loans and leases1
64,574
63,356
62,905
63,057
62,437
1,218
2
2,137
3
Deposits
45,354
45,443
44,482
42,481
42,178
(89)
-
3,176
8
Interest-earning assets
65,345
64,248
63,719
63,710
63,018
1,097
2
2,327
4
KEY METRICS
Net interest margin
2.84 %
2.78 %
2.78 %
2.78 %
2.83 %
6 bps
1 bps
Efficiency ratio
46.66
50.09
45.15
47.47
49.77
(343) bps
(311) bps
Loan-to-deposit ratio (period-end balances)
141.03
132.96
132.70
139.59
142.21
807 bps
(118) bps
Loan-to-deposit ratio (average balances)
140.64
138.26
140.06
146.90
146.86
238 bps
(622) bps
1 Includes loans held for sale.
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$
%
$
%
Net interest income
($203)
($212)
($222)
($220)
($243)
$9
4%
$40
16%
Noninterest income
44
43
33
39
32
1
2
12
38
Total revenue
(159)
(169)
(189)
(181)
(211)
10
6
52
25
Noninterest expense
16
2
23
39
33
14
NM
(17)
(52)
Profit (loss) before provision (benefit) for credit losses
(175)
(171)
(212)
(220)
(244)
(4)
(2)
69
28
Provision (benefit) for credit losses
5
(13)
(5)
(1)
(10)
18
NM
15
NM
Income (loss) before income tax expense (benefit)
(180)
(158)
(207)
(219)
(234)
(22)
(14)
54
23
Income tax expense (benefit)
(76)
(60)
(70)
(73)
(75)
(16)
(27)
(1)
(1)
Net income (loss)
($104)
($98)
($137)
($146)
($159)
($6)
(6%)
$55
35%
AVERAGE BALANCES
Total assets
$72,617
$71,940
$72,254
$72,555
$73,409
$677
1%
($792)
(1%)
Total loans and leases2
3,258
3,944
4,950
6,104
7,406
(686)
(17)
(4,148)
(56)
Deposits
2,835
2,926
2,928
4,376
4,799
(91)
(3)
(1,964)
(41)
Interest-earning assets
58,889
58,336
59,009
59,620
60,406
553
1
(1,517)
(3)
1 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.
2 Includes loans held for sale.
Mar 31, 2026
Dec 31, 2025
Sept 30, 2025
June 30, 2025
Mar 31, 2025
Dec 31, 2025
March 31, 2025
$/bps/%
%
$/bps/%
%
NONACCRUAL LOANS AND LEASES
Commercial and industrial
$188
$277
$230
$233
$283
($89)
(32%)
($95)
(34%)
Commercial real estate
679
618
703
706
700
61
10
(21)
(3)
Total commercial
867
895
933
939
983
(28)
(3)
(116)
(12)
Residential mortgages1
217
196
188
198
198
21
11
19
10
Home equity
324
319
297
282
282
5
2
42
15
Automobile
23
28
31
34
39
(5)
(18)
(16)
(41)
Education
21
20
20
19
20
1
5
1
5
Other retail
45
46
49
52
60
(1)
(2)
(15)
(25)
Total retail
630
609
585
585
599
21
3
31
5
Total nonaccrual loans and leases
1,497
1,504
1,518
1,524
1,582
(7)
-
(85)
(5)
ASSET QUALITY RATIOS
Allowance for loan and lease losses to loans and leases
1.36%
1.36%
1.40%
1.44%
1.46%
- bps
(10) bps
Allowance for credit losses to loans and leases
1.52
1.53
1.56
1.59
1.61
(1) bps
(9) bps
Allowance for loan and lease losses to nonaccrual loans and leases
131
129
130
132
127
2%
4%
Allowance for credit losses to nonaccrual loans and leases
146
145
145
145
140
1%
6%
Nonaccrual loans and leases to loans and leases
1.04
1.05
1.08
1.09
1.15
(1) bps
(11) bps
1 Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.
AS OF
MARCH 31, 2026 CHANGE
Mar 31, 2026
Dec 31, 2025
Sept 30, 2025
June 30, 2025
Mar 31, 2025
Dec 31, 2025 March 31, 2025
$/bps % $/bps
%
LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING
Commercial and industrial
$1
$5
$39
$3
$9
($4) (80%) ($8)
(89%)
Commercial real estate
26
20
7
60
4
6 30 22
NM
Total commercial
27
25
46
63
13
2 8 14
108
Residential mortgages1
179
141
114
128
138
38 27 41
30
Home equity
-
1
-
-
-
(1) (100) -
-
Automobile
-
-
-
-
-
- - -
-
Education
2
2
2
2
3
- - (1)
(33)
Other retail
-
-
-
1
1
- - (1)
(100)
Total retail
181
144
116
131
142
37 26 39
27
Total loans and leases
$208
$169
$162
$194
$155
$39 23% $53
34%
1 90+ days past due and accruing includes $179 million, $141 million, $114 million, $128 million, and $137 million of loans fully or partially guaranteed by the FHA, VA, and USDA for March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$
%
$
%
CHARGE-OFFS, RECOVERIES AND RELATED RATIOS
GROSS CHARGE-OFFS
Commercial and industrial
$50
$40
$33
$39
$34
$10
25%
$16
47%
Commercial real estate
41
42
58
54
51
(1)
(2)
(10)
(20)
Total commercial
91
82
91
93
85
9
11
6
7
Residential mortgages
1
5
1
-
1
(4)
(80)
-
-
Home equity
6
5
3
4
5
1
20
1
20
Automobile
9
12
13
14
20
(3)
(25)
(11)
(55)
Education
22
26
25
26
56
(4)
(15)
(34)
(61)
Other retail
54
57
62
64
67
(3)
(5)
(13)
(19)
Total retail
92
105
104
108
149
(13)
(12)
(57)
(38)
Total gross charge-offs
$183
$187
$195
$201
$234
($4)
(2%) ($51)
(22%)
GROSS RECOVERIES
Commercial and industrial
$15
$6
$3
$-
$4
$9
150%
$11
NM
Commercial real estate
3
1
3
1
-
2
200
3
100
Total commercial
18
7
6
1
4
11
157
14
NM
Residential mortgages
3
-
1
-
1
3
100
2
200
Home equity
4
5
6
6
5
(1)
(20)
(1)
(20)
Automobile
7
9
9
11
12
(2)
(22)
(5)
(42)
Education
6
6
5
8
5
-
-
1
20
Other retail
7
5
6
8
7
2
40
-
-
Total retail
27
25
27
33
30
2
8
(3)
(10)
Total gross recoveries
$45
$32
$33
$34
$34
$13
41%
$11
32%
NET CHARGE-OFFS (RECOVERIES)
Commercial and industrial
$35
$34
$30
$39
$30
$1
3%
$5
17%
Commercial real estate
38
41
55
53
51
(3)
(7)
(13)
(25)
Total commercial
73
75
85
92
81
(2)
(3)
(8)
(10)
Residential mortgages
(2)
5
-
-
-
(7)
NM
(2)
(100)
Home equity
2
-
(3)
(2)
-
2
100
2
100
Automobile
2
3
4
3
8
(1)
(33)
(6)
(75)
Education
16
20
20
18
51
(4)
(20)
(35)
(69)
Other retail
47
52
56
56
60
(5)
(10)
(13)
(22)
Total retail
65
80
77
75
119
(15)
(19)
(54)
(45)
Total net charge-offs
$138
$155
$162
$167
$200
($17)
(11%) ($62)
(31%)
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$/bps
%
$/bps
%
ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES
Commercial and industrial
0.28%
0.28%
0.26%
0.35%
0.28%
- bps
- bps
Commercial real estate
0.64
0.64
0.85
0.80
0.77
-
(13)
Total commercial
0.40
0.40
0.47
0.51
0.47
-
(7)
Residential mortgages
(0.02)
0.05
-
-
0.01
(7)
(3)
Home equity
0.04
-
(0.06)
(0.05)
(0.01)
4
5
Automobile
0.35
0.60
0.43
0.36
0.73
(25)
(38)
Education
0.80
0.94
0.92
0.86
1.92
(14)
(112)
Other retail
4.74
5.02
5.45
5.23
5.46
(28)
(72)
Total retail
0.38
0.46
0.45
0.45
0.70
(8)
(32)
Total loans and leases
0.39%
0.43%
0.46%
0.48%
0.58%
(4) bps
(19) bps
Memo: Average loans
Commercial and industrial
$50,140
$48,108
$46,351
$44,936
$43,599
$2,032
4%
$6,541
15%
Commercial real estate
24,401
25,043
25,799
26,487
27,013
(642)
(3)
(2,612)
(10)
Total commercial
74,541
73,151
72,150
71,423
70,612
1,390
2
3,929
6
Residential mortgages
35,090
34,752
34,134
33,420
32,872
338
1
2,218
7
Home equity
19,230
18,754
18,027
17,324
16,647
476
3
2,583
16
Automobile
2,090
2,557
3,096
3,705
4,394
(467)
(18)
(2,304)
(52)
Education
8,442
8,469
8,513
8,660
10,690
(27)
-
(2,248)
(21)
Other retail
4,017
4,074
4,091
4,277
4,495
(57)
(1)
(478)
(11)
Total retail
68,869
68,606
67,861
67,386
69,098
263
-
(229)
-
Total loans and leases
$143,410 $141,757 $140,011 $138,809 $139,710 $1,653
1%
$3,700
3%
SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES
Allowance for loan and lease losses - beginning
$1,943
$1,972
$2,008
$2,014
$2,061
($29)
(1%)
($118)
(6%)
Charge-offs:
Commercial
91
82
91
93
85
9
11
6
7
Retail
92
105
104
108
149
(13)
(12)
(57)
(38)
Total charge-offs
183
187
195
201
234
(4)
(2)
(51)
(22)
Recoveries:
Commercial
18
7
6
1
4
11
157
14
NM
Retail
27
25
27
33
30
2
8
(3)
(10)
Total recoveries
45
32
33
34
34
13
41
11
32
Net charge-offs
138
155
162
167
200
(17)
(11)
(62)
(31)
Provision (benefit) for loan and lease losses:
Commercial
130
50
62
50
89
80
160
41
46
Retail
23
76
64
111
64
(53)
(70)
(41)
(64)
Total provision (benefit) for loan and lease losses
153
126
126
161
153
27
21
-
-
Allowance for loan and lease losses - ending
$1,958
$1,943
$1,972
$2,008
$2,014
$15
1%
($56)
(3%)
Allowance for unfunded lending commitments - beginning
$240
$229
$201
$198
$198
$11
5%
$42
21%
Provision (benefit) for unfunded lending commitments
(13)
11
28
3
-
(24)
NM
(13)
(100)
Allowance for unfunded lending commitments - ending
$227
$240
$229
$201
$198
($13)
(5%)
$29
15%
Total allowance for credit losses - ending
$2,185
$2,183
$2,201
$2,209
$2,212
$2
-%
($27)
(1%)
Memo: Total allowance for credit losses by product
Commercial
$1,304
$1,252
$1,265
$1,269
$1,312
$52
4%
($8)
(1%)
Retail
881
931
936
940
900
(50)
(5)
(19)
(2)
Total allowance for credit losses
$2,185
$2,183
$2,201
$2,209
$2,212
$2
-%
($27)
(1%)
CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)
CET1 capital
$18,178
$18,240
$18,046
$17,812
$17,751
($62)
-%
$427
2%
Tier 1 capital
20,289
20,351
20,157
19,925
19,864
(62)
-
425
2
Total capital
23,751
23,654
23,455
23,221
23,156
97
-
595
3
Risk-weighted assets
173,268
171,493
168,932
168,017
166,908
1,775
1
6,360
4
Adjusted average assets1
218,192
215,321
213,536
212,450
211,119
2,871
1
7,073
3
CET1 capital ratio
10.5 %
10.6 %
10.7 %
10.6 %
10.6 %
Tier 1 capital ratio
11.7
11.9
11.9
11.9
11.9
Total capital ratio
13.7
13.8
13.9
13.8
13.9
Tier 1 leverage ratio
9.3
9.5
9.4
9.4
9.4
TANGIBLE COMMON EQUITY (PERIOD-END)
Common stockholders' equity
$24,061
$24,206
$23,718
$23,121
$22,753
($145)
(1%)
$1,308
6%
Less: Goodwill
8,221
8,187
8,187
8,187
8,187
34
-
34
-
Less: Other intangible assets
112
115
123
128
137
(3)
(3)
(25)
(18)
Add: Deferred tax liabilities2
437
437
440
440
438
-
-
(1)
-
Total tangible common equity3
$16,165
$16,341
$15,848
$15,246
$14,867
($176)
(1%)
$1,298
9%
TANGIBLE COMMON EQUITY (AVERAGE)
Common stockholders' equity
$23,995
$23,823
$23,288
$22,494
$22,188
$172
1%
$1,807
8%
Less: Goodwill
8,198
8,187
8,187
8,187
8,187
11
-
11
-
Less: Other intangible assets
114
120
126
134
142
(6)
(5)
(28)
(20)
Add: Deferred tax liabilities2
437
440
440
438
438
(3)
(1)
(1)
-
Total tangible common equity3
$16,120
$15,956
$15,415
$14,611
$14,297
$164
1%
$1,823
13%
INTANGIBLE ASSETS (PERIOD-END)
Goodwill
$8,221
$8,187
$8,187
$8,187
$8,187
$34
-%
$34
-%
Other intangible assets
112
115
123
128
137
(3)
(3)
(25)
(18)
Total intangible assets
$8,333
$8,302
$8,310
$8,315
$8,324
$31
-%
$9
-%
1 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 income impact related to the adoption of post-retirement benefit plan guidance under GAAP.
2 Deferred tax liabilities relate to tax-deductible goodwill and other intangible assets.
3 These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."
Non-GAAP Financial Measures
This document contains non-GAAP financial measures that we believe provide useful information to investors to understand our results of operations or financial condition. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP financial 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. The following tables present reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures.
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$
%
$
%
Pre-provision profit:
Total revenue (GAAP)
A
$2,168
$2,157
$2,118
$2,037
$1,935
$11
1%
$233
12%
Less: Noninterest expense (GAAP)
B
1,378
1,343
1,335
1,319
1,314
35
3
64
5
Pre-provision profit (non-GAAP)
$790
$814
$783
$718
$621
($24)
(3%)
$169
27%
Book value per common share and tangible book value per common share:
Common shares - at period-end (GAAP)
C
426,023,578
429,242,174
431,453,142
432,768,811
437,668,127
(3,218,596)
(1%)
(11,644,549)
(3%)
Common stockholders' equity (GAAP)
D
$24,061
$24,206
$23,718
$23,121
$22,753
($145)
(1)
$1,308
6
Less: Goodwill (GAAP)
8,221
8,187
8,187
8,187
8,187
34
-
34
-
Less: Other intangible assets (GAAP)
112
115
123
128
137
(3)
(3)
(25)
(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)
437
437
440
440
438
-
-
(1)
-
Tangible common equity (non-GAAP)
E
$16,165
$16,341
$15,848
$15,246
$14,867
($176)
(1%)
$1,298
9%
Book value per common share (GAAP)
D/C
$56.48
$56.39
$54.97
$53.43
$51.99
$0.09
-%
$4.49
9%
Tangible book value per common share (non-GAAP)
E/C
37.94
38.07
36.73
35.23
33.97
(0.13)
-
3.97
12
Net interest income and net interest margin on an FTE basis:
Net interest income (annualized) (GAAP)
F
$6,337
$6,098
$5,902
$5,770
$5,637
$239
4%
$700
12%
Average interest-earning assets (GAAP)
G
201,929
199,167
197,598
196,318
195,058
2,762
1
6,871
4
Net interest margin (GAAP)
F/G
3.14%
3.06%
2.99%
2.94%
2.89%
8 bps
25 bps
Net interest income (GAAP)
$1,562
$1,537
$1,488
$1,437
$1,391
$25
2%
$171
12%
FTE adjustment
3
4
4
4
4
(1)
(25)
(1)
(25)
Net interest income on an FTE basis (non-GAAP)
1,565
1,541
1,492
1,441
1,395
24
2
170
12
Net interest income on an FTE basis (annualized) (non-GAAP)
H
6,350
6,112
5,919
5,786
5,653
238
4
697
12
Net interest margin on an FTE basis (non-GAAP)
H/G
3.14%
3.07%
3.00%
2.95%
2.90%
7 bps
24 bps
Return on average common equity and return on average tangible common equity:
Net income available to common stockholders (GAAP)
I
$484
$489
$457
$402
$340
($5)
(1%)
$144
42%
Average common equity (GAAP)
J
$23,995
$23,823
$23,288
$22,494
$22,188
$172
1
$1,807
8
Less: Average goodwill (GAAP)
8,198
8,187
8,187
8,187
8,187
11
-
11
-
Less: Average other intangibles (GAAP)
114
120
126
134
142
(6)
(5)
(28)
(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)
437
440
440
438
438
(3)
(1)
(1)
-
Average tangible common equity (non-GAAP)
K
$16,120
$15,956
$15,415
$14,611
$14,297
$164
1%
$1,823
13%
Return on average common equity (GAAP)
I/J
8.19%
8.16%
7.77%
7.18%
6.21%
3 bps
198 bps
Return on average tangible common equity (non-GAAP)
I/K
12.19%
12.18%
11.75%
11.05%
9.64%
1 bps
255 bps
Return on average total assets and return on average total tangible assets:
Net income (GAAP)
L
$517
$528
$494
$436
$373
($11)
(2%)
$144
39%
Average total assets (GAAP)
M
$224,224
$221,242
$219,117
$217,661
$216,309
$2,982
1
$7,915
4
Less: Average goodwill (GAAP)
8,198
8,187
8,187
8,187
8,187
11
-
11
-
Less: Average other intangibles (GAAP)
114
120
126
134
142
(6)
(5)
(28)
(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)
437
440
440
438
438
(3)
(1)
(1)
-
Average tangible assets (non-GAAP)
N
$216,349
$213,375
$211,244
$209,778
$208,418
$2,974
1%
$7,931
4%
Return on average total assets (GAAP)
L/M
0.94%
0.95%
0.90%
0.80%
0.70%
(1) bps
24 bps
Return on average total tangible assets (non-GAAP)
L/N
0.97%
0.98%
0.93%
0.83%
0.73%
(1) bps
24 bps
1Q26
4Q25
3Q25
2Q25
1Q25
4Q25
1Q25
$/bps
%
$/bps
%
Common equity ratio and tangible common equity ratio:
Total assets (GAAP)
O
$227,918
$226,351
$222,747
$218,310
$220,148
$1,567
1 %
$7,770
4%
Less: Goodwill (GAAP)
8,221
8,187
8,187
8,187
8,187
34
-
34
-
Less: Other intangible assets (GAAP)
112
115
123
128
137
(3)
(3)
(25)
(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)
437
437
440
440
438
-
-
(1)
-
Tangible assets (non-GAAP)
P
$220,022 $218,486 $214,877 $210,435 $212,262 $1,536
1%
$7,760
4%
Common equity ratio (GAAP)
D/O
10.6 %
10.7 %
10.6 %
10.6 %
10.3 %
(13) bps
22 bps
Tangible common equity ratio (non-GAAP)
E/P
7.3
7.5
7.4
7.2
7.0
(20) bps
30 bps
Disclaimer
Citizens Financial Group Inc. published this content on April 16, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 16, 2026 at 10:33 UTC.