# Citizens Financial Group (CFG) 8-K SEC filing - Filed: Jul 16, 2026, 6:32 AM EDT - Accession: 0000759944-26-000133 - OpenCapital page: https://www.opencapital.sh/filings/0000759944-26-000133 - Markdown URL: https://www.opencapital.sh/filings/0000759944-26-000133.md - Official SEC filing index: https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/0000759944-26-000133-index.htm ## Filing documents - [8-K (cfg-20260716.htm)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/cfg-20260716.htm) - [EX-99.1 (a2q26earningsrelease.htm)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/a2q26earningsrelease.htm) - [EX-99.2 (a2q26earningspresentatio.htm)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/a2q26earningspresentatio.htm) - [EX-99.3 (q226financialsupplement.htm)](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/q226financialsupplement.htm) --- ## 8-K SEC source: [cfg-20260716.htm](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/cfg-20260716.htm) ### 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): July 16, 2026  (Exact name of the registrant as specified in its charter) | | | | | --- | --- | --- | | Delaware | 001-36636 | 05-0412693 | | (State or Other Jurisdiction ofIncorporation) | (Commission File Number) | (I.R.S. EmployerIdentification Number) | | One Citizens Plaza | | | | RI | | 02903 | | (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: Title of each class Trading symbol(s) Name of each exchange on which registered 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 2.02 Results of Operations and Financial Condition. On July 16, 2026, Citizens Financial Group, Inc. (the “Company”) issued a press release announcing its second quarter 2026 earnings and posted on its website the press release and a financial supplement. Copies of the press release and financial supplement are being furnished as Exhibits 99.1 and 99.3, respectively. ## Item 7.01 Regulation FD Disclosure. For the benefit of investors, the Company has posted on its website an investor presentation in connection with its earnings conference call. A copy of the investor presentation is being furnished as Exhibit 99.2. The information in this Form 8-K and Exhibits attached hereto are being furnished pursuant to Items 2.02 and 7.01, respectively, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall this information be deemed incorporated by reference into any filings under the Securities Act of 1933, as amended. ## Item 9.01 Financial Statements and Exhibits. Exhibit Number Description (d) Exhibit 99.1 [Citizens Financial Group, Inc. press release dated](a2q26earningsrelease.htm)[J](a2q26earningsrelease.htm)[uly](a2q26earningsrelease.htm)[16, 2026](a2q26earningsrelease.htm) Exhibit 99.2 [Citizens Financial Group, Inc. earnings release presentation issued](a2q26earningspresentatio.htm)[J](a2q26earningspresentatio.htm)[u](a2q26earningspresentatio.htm)[ly](a2q26earningspresentatio.htm)[16, 2026](a2q26earningspresentatio.htm) Exhibit 99.3 [Citizens Financial Group, Inc. financial supplement for](q226financialsupplement.htm)[second](q226financialsupplement.htm)[quarter 2026](q226financialsupplement.htm) 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. By: /s/ Aunoy Banerjee Aunoy Banerjee Executive Vice President and Chief Financial Officer Date: July 16, 2026 --- ## EX-99.1 SEC source: [a2q26earningsrelease.htm](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/a2q26earningsrelease.htm) ### Citizens Financial Group, Inc. Reports Second Quarter 2026 Net Income of ### $587 million, up 35% YoY, and EPS of $1.30, up 41% YoY and 15% QoQ ### Sequential NII Growth of 4% and Fee Growth of 8% Positive Operating Leverage of 6.4% YoY | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | Key Financial Data | 2Q26 | | 1Q26 | | 2Q25 | | Second Quarter 2026 Highlights | | Income Statement | ($s in millions) | | | | | | | ■EPS of $1.30; ROTCE of 13.9%–Continued strong Private Bank progress, contributing $0.15 to EPS, up from $0.11 in 1Q26■PPNR of $889 million, up 13% QoQ, up 24% YoY –NII up 4.4% QoQ, with NIM up 3 bps to 3.17%; YoY NII up 14%, with NIM up 22 bps –Fees up 8% QoQ, up 9% YoY driven by Capital Markets and Wealth–Positive operating leverage of 4.1% QoQ and 6.4% YoY ■Loans up 3% on a spot basis and 2% on an average basis QoQ, with growth led by Commercial and Private Bank■Continuing favorable credit trends; net charge-offs of 37 bps, down 2 bps QoQ■Strong ACL coverage of 1.48%■Average deposits up $2.3 billion, or 1% QoQ, driven by growth in Private Bank and retail low-cost categories–Private Bank spot deposits of $17.8 billion–Total deposit costs well controlled, up 3 bps QoQ■Strong liquidity profile; spot LDR of 79.5% ■Strong CET1 ratio of 10.4% ■TBV/share of $38.29, up 1% QoQ | | | Total revenue | $ | $2,283 | $ | $2,168 | $ | $2,037 | | | | Pre-provision profit | 889 | | 790 | | 718 | | | | | Provision for credit losses | 134 | | 140 | | 164 | | | | | Net income | 587 | | 517 | | 436 | | | | Balance Sheet & Credit Quality | ($s in billions) | | | | | | | | | | Period-end loans and leases | $ | $147.5 | $ | $143.7 | $ | $139.3 | | | | Average loans and leases | 146.1 | | 143.4 | | 138.8 | | | | | Period-end deposits | 185.6 | | 184.0 | | 175.1 | | | | | Average deposits | 183.6 | | 181.3 | | 174.1 | | | | | Loan-to-deposit ratio (spot) | 79.5 | | 78.1 | | 79.6 | | | | | NCO ratio | 0.37 | | 0.39 | | 0.48 | | | | Financial Metrics | Diluted EPS | $ | $1.30 | $ | $1.13 | $ | $0.92 | | | | ROTCE | 13.9 | | 12.2 | | 11.0 | | | | | Net interest margin, FTE | 3.17 | | 3.14 | | 2.95 | | | | | Efficiency ratio | 61.1 | | 63.6 | | 64.8 | | | | | CET1 | 10.4 | | 10.5 | | 10.6 | | | | | TBV/Share | $ | $38.29 | $ | $37.94 | $ | $35.23 | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Comments from Chairman and CEO Bruce Van Saun | | | | | | | | | “We delivered an outstanding second quarter, led by strong revenue growth, significant positive operating leverage and favorable credit performance,” said Chairman and CEO Bruce Van Saun. “We are executing well on our strategic initiatives, with continued strong growth in the Private Bank, record Wealth fees and record second quarter fees in Capital Markets, meaningful progress on Reimagine the Bank, and the successful launch of a new Consumer mobile platform. We were pleased about the DFAST stress loss results and anticipate further improvement under the new Fed models. We remain confident in our momentum and outlook through the remainder of 2026 and for 2027.” Citizens Financial Group, Inc. Citizens also announced today that its board of directors declared a quarterly common stock dividend of $0.46 per share. The dividend is payable on August 13, 2026 to shareholders of record at the close of business on July 30, 2026. Earnings highlights(1): | Line item | Quarterly Trends | Quarterly Trends | Quarterly Trends | Quarterly Trends | Quarterly Trends | Quarterly Trends | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | Quarterly Trends / 2Q26 change from | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ($s in millions, except per share data) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | | 2Q25 | | | | | Earnings | | | | | | | $/bps/% | | | % | $/bps/% | | | % | | Net interest income | $ | $1,631 | $ | $1,562 | $ | $1,437 | $ | $69 | | 4% | $ | $194 | | 14% | | Noninterest income | 652 | | 606 | | 600 | | 46 | | | 8 | 52 | | | 9 | | Total revenue | 2,283 | | 2,168 | | 2,037 | | 115 | | | 5 | 246 | | | 12 | | Noninterest expense | 1,394 | | 1,378 | | 1,319 | | 16 | | | 1 | 75 | | | 6 | | Pre-provision profit | 889 | | 790 | | 718 | | 99 | | | 13 | 171 | | | 24 | | Provision for credit losses | 134 | | 140 | | 164 | | (6) | | | (4) | (30) | | | (18) | | Net income | 587 | | 517 | | 436 | | 70 | | | 14 | 151 | | | 35 | | Preferred dividends/other | 33 | | 33 | | 34 | | — | | | — | (1) | | | (3) | | Net income available to common stockholders | $ | $554 | $ | $484 | $ | $402 | $ | $70 | | 14% | $ | $152 | | 38% | | Average common shares outstanding | | | | | | | | | | | | | | | | Basic (in millions) | 422.9 | | 425.3 | | 433.6 | | (2.5) | | | (1) | (10.8) | | | (2) | | Diluted (in millions) | 426.7 | | 429.9 | | 436.5 | | (3.2) | | | (1) | (9.9) | | | (2) | | Diluted earnings per share | 1.30 | | 1.13 | | 0.92 | | 0.17 | | | 15 | 0.38 | | | 41 | | Performance metrics | | | | | | | | | | | | | | | | Net interest margin | 3.16 | | 3.14 | | 2.94 | | 2 | | bps | | 22 | | bps | | | Net interest margin, FTE | 3.17 | | 3.14 | | 2.95 | | 3 | | | | 22 | | | | | Effective income tax rate | 22.3 | | 20.5 | | 21.4 | | 183 | | | | 92 | | | | | Efficiency ratio | 61.1 | | 63.6 | | 64.8 | | (247) | | | | (368) | | | | | Return on average tangible common equity | 13.9 | | 12.2 | | 11.0 | | 172 | | | | 286 | | | | | Return on average total tangible assets | 1.06 | | 0.97 | | 0.83 | | 9 | | bps | | 23 | | bps | | | Capital adequacy(2,3) | | | | | | | | | | | | | | | | Common equity tier 1 capital ratio | 10.4 | | 10.5 | | 10.6 | | | | | | | | | | | Total capital ratio | 13.6 | | 13.7 | | 13.8 | | | | | | | | | | | Tier 1 leverage ratio | 9.2 | | 9.3 | | 9.4 | | | | | | | | | | | Tangible common equity ratio | 7.2 | | 7.3 | | 7.2 | | | | | | | | | | | Allowance for credit losses to loans and leases | 1.48 | | 1.52 | | 1.59 | | (4) | | bps | | (11) | | bps | | | Asset quality(3) | | | | | | | | | | | | | | | | Nonaccrual loans and leases to loans and leases | 0.97 | | 1.04 | | 1.09 | | (7) | | bps | | (12) | | bps | | | Allowance for credit losses to nonaccrual loans and leases | 152 | | 146 | | 145 | | 6 | | % | | 7 | | % | | | Net charge-offs as a % of average loans and leases | 0.37 | | 0.39 | | 0.48 | | (2) | | bps | | (11) | | bps | | (1) Unless otherwise noted, references to balance sheet items are on an average basis, loans exclude loans held for sale, earnings per share represent fully diluted per common share and references to NIM are on a FTE basis. (2) Current reporting-period regulatory capital ratios are preliminary. (3) Capital adequacy and asset-quality ratios calculated on a period-end basis, except net charge-offs. **Citizens Financial Group, Inc.** **Consolidated balance sheet summary(1):** | Line item | | | | | | | 2Q26 change from | 2Q26 change from | 2Q26 change from | 2Q26 change from | 2Q26 change from | 2Q26 change from | 2Q26 change from | 2Q26 change from | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | | 2Q25 | | | | | | | | | | | | $/bps | | | % | $/bps | | | % | | Total assets | $ | $233,836 | $ | $227,918 | $ | $218,310 | $ | $5,918 | | 3% | $ | $15,526 | | 7% | | Total loans and leases | 147,491 | | 143,667 | | 139,304 | | 3,824 | | | 3 | 8,187 | | | 6 | | Total loans held for sale | 1,458 | | 1,537 | | 2,093 | | (79) | | | (5) | (635) | | | (30) | | Deposits | 185,620 | | 184,035 | | 175,086 | | 1,585 | | | 1 | 10,534 | | | 6 | | Stockholders' equity | 26,183 | | 26,172 | | 25,234 | | 11 | | | — | 949 | | | 4 | | Stockholders' common equity | 24,072 | | 24,061 | | 23,121 | | 11 | | | — | 951 | | | 4 | | Tangible common equity | $ | $16,185 | $ | $16,165 | $ | $15,246 | $ | $20 | | — | $ | $939 | | 6% | | Loan-to-deposit ratio (period-end)(2) | 79.5 | | 78.1 | | 79.6 | | 139 | | bps | | (10) | | bps | | | Loan-to-deposit ratio (average)(2) | 79.6 | | 79.1 | | 79.7 | | 49 | | bps | | (14) | | bps | | | (1) Represents period-end unless otherwise noted. | | | | | | | | | | | | | | | | (2) Excludes loans held for sale. | | | | | | | | | | | | | | | Discussion of results: | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Net interest income | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | | | | | | | | $/bps | | % | $/bps | | % | | Interest income: | | | | | | | | | | | | | | Interest and fees on loans and leases and loans held for sale | $ | $1,994 | $ | $1,905 | $ | $1,887 | $ | $89 | 5% | $ | $107 | 6% | | Investment securities | 446 | | 424 | | 428 | | 22 | | 5 | 18 | | 4 | | Interest-bearing deposits in banks | 103 | | 91 | | 92 | | 12 | | 13 | 11 | | 12 | | Total interest income | $ | $2,543 | $ | $2,420 | $ | $2,407 | $ | $123 | 5% | $ | $136 | 6% | | Interest expense: | | | | | | | | | | | | | | Deposits | $ | $747 | $ | $715 | $ | $802 | $ | $32 | 4% | $ | $(55) | (7)% | | Short-term borrowed funds | 9 | | 4 | | 9 | | 5 | | 125 | — | | — | | Long-term borrowed funds | 156 | | 139 | | 159 | | 17 | | 12 | (3) | | (2) | | Total interest expense | $ | $912 | $ | $858 | $ | $970 | $ | $54 | 6% | $ | $(58) | (6)% | | Net interest income | $ | $1,631 | $ | $1,562 | $ | $1,437 | $ | $69 | 4% | $ | $194 | 14% | | Net interest margin, FTE | 3.17 | | 3.14 | | 2.95 | | 3 | | | 22 | | | Net interest income of $1.6 billion increased 4.4%, reflecting a higher net interest margin along with a 2% increase in average interest-earning assets. - Net interest margin of 3.17% increased 3 basis points, reflecting the benefit of lower terminated swap impacts and Non-Core runoff, and fixed-rate asset repricing, partially offset by increased funding costs. - Interest-bearing deposit costs increased 4 basis points to 2.08%; total deposit costs increased 3 basis points to 1.63%; total cost of funds increased 5 basis points to 1.85%. Net interest income of $1.6 billion increased 14%, primarily reflecting a higher net interest margin, as well as a 5% increase in interest-earning assets. - Net interest margin of 3.17% increased 22 basis points, largely driven by the benefit of terminated swap impacts and Non-Core runoff, fixed-rate asset repricing and improved funding costs, partially offset by lower asset yields. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Noninterest Income | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | | | | | | | | $ | | % | $ | | % | | Service charges and fees | $ | $117 | $ | $112 | $ | $111 | $ | $5 | 4% | $ | $6 | 5% | | Capital markets fees | 153 | | 134 | | 105 | | 19 | | 14 | 48 | | 46 | | Wealth fees | 102 | | 100 | | 88 | | 2 | | 2 | 14 | | 16 | | Card fees | 89 | | 83 | | 90 | | 6 | | 7 | (1) | | (1) | | Mortgage banking fees | 42 | | 42 | | 73 | | — | | — | (31) | | (42) | | Foreign exchange and derivative products | 47 | | 44 | | 41 | | 3 | | 7 | 6 | | 15 | | Letter of credit and loan fees | 52 | | 50 | | 45 | | 2 | | 4 | 7 | | 16 | | Securities gains, net | 6 | | 7 | | 5 | | (1) | | (14) | 1 | | 20 | | Other income(1) | 44 | | 34 | | 42 | | 10 | | 29 | 2 | | 5 | | Noninterest income | $ | $652 | $ | $606 | $ | $600 | $ | $46 | 8% | $ | $52 | 9% | | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | | | | | | | | | | | | | Noninterest income of $652 million increased $46 million, or 8%. - Service charges and fees increased $5 million, primarily from seasonality and growth in account and cash management fees. - Capital markets fees increased $19 million to $153 million, a record for the second quarter, reflecting higher loan syndication and debt and equity underwriting fees. - Wealth fees increased $2 million to $102 million, a new record, reflecting higher advisory fees. - Card fees increased $6 million, reflecting increased seasonal spend across credit and debit cards. - FX and derivative products increased $3 million, primarily given higher interest rate and FX hedging activity, partially offset by a decline in commodities hedging activity. - Mortgage banking fees are stable as higher servicing revenue was offset by lower production revenue. - Other income increased $10 million, reflecting several modest revenue items. Noninterest income of $652 million increased $52 million, or 9%. - Service charges and fees increased $6 million, primarily driven by higher cash management fees. - Capital markets fees increased $48 million, driven by higher M&A, loan syndication and debt underwriting fees. - Wealth fees increased $14 million, primarily from growth in AUM, reflecting net inflows and market appreciation. - Mortgage banking fees decreased $31 million, largely reflecting lower MSR valuation results, net of hedge impact. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Noninterest Expense | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | | | | | | | | $ | | % | $ | | % | | Salaries and employee benefits | $ | $745 | $ | $758 | $ | $681 | $ | $(13) | (2)% | $ | $64 | 9% | | Equipment and software | 195 | | 197 | | 193 | | (2) | | (1) | 2 | | 1 | | Outside services | 174 | | 162 | | 169 | | 12 | | 7 | 5 | | 3 | | Occupancy | 108 | | 114 | | 108 | | (6) | | (5) | — | | — | | Other operating expense | 172 | | 147 | | 168 | | 25 | | 17 | 4 | | 2 | | Noninterest expense | $ | $1,394 | $ | $1,378 | $ | $1,319 | $ | $16 | 1% | $ | $75 | 6% | Noninterest expense of $1.4 billion increased 1%. - Salaries and employee benefits decreased $13 million, primarily reflecting lower payroll taxes given seasonality. - Outside services increased $12 million, largely due to higher technology-related costs. - Occupancy decreased $6 million, largely reflecting lower branch maintenance costs. - Other operating expense increased $25 million, reflecting higher insurance and various other modest expense items. The effective tax rate of 22.3% in second quarter 2026 compares with 20.5% in first quarter 2026. The lower first quarter tax rate reflected the recognition of discrete tax benefits. Noninterest expense of $1.4 billion increased 6%. - Salaries and employee benefits increased $64 million, reflecting hiring related to the Private Bank and Private Wealth buildout, and compensation associated with growth in Capital Markets fees. - Outside services increased $5 million, primarily driven by costs to implement the Reimagine the Bank program. - Other operating expense increased $4 million, reflecting the impact of various sundry items. The effective tax rate was 22.3% in second quarter 2026 compared with 21.4% in second quarter 2025. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Interest-earning assets | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | Period-end interest-earning assets | | | | | | | $ | | % | $ | | % | | Investments | $ | $46,345 | $ | $45,218 | $ | $43,899 | $ | $1,127 | 2% | $ | $2,446 | 6% | | Interest-bearing deposits in banks | 12,648 | | 12,076 | | 8,121 | | 572 | | 5 | 4,527 | | 56 | | Commercial loans and leases | 77,284 | | 74,589 | | 71,642 | | 2,695 | | 4 | 5,642 | | 8 | | Retail loans | 70,207 | | 69,078 | | 67,662 | | 1,129 | | 2 | 2,545 | | 4 | | Total loans and leases | 147,491 | | 143,667 | | 139,304 | | 3,824 | | 3 | 8,187 | | 6 | | Loans held for sale | 1,458 | | 1,537 | | 2,093 | | (79) | | (5) | (635) | | (30) | | Total loans and leases and loans held for sale | 148,949 | | 145,204 | | 141,397 | | 3,745 | | 3 | 7,552 | | 5 | | Total period-end interest-earning assets | $ | $207,942 | $ | $202,498 | $ | $193,417 | $ | $5,444 | 3% | $ | $14,525 | 8% | | Average interest-earning assets(1) | | | | | | | | | | | | | | Investments | $ | $48,088 | $ | $46,929 | $ | $46,538 | $ | $1,159 | 2% | $ | $1,550 | 3% | | Interest-bearing deposits in banks | 10,839 | | 10,079 | | 8,217 | | 760 | | 8 | 2,622 | | 32 | | Commercial loans and leases | 76,548 | | 74,541 | | 71,423 | | 2,007 | | 3 | 5,125 | | 7 | | Retail loans | 69,580 | | 68,869 | | 67,386 | | 711 | | 1 | 2,194 | | 3 | | Total loans and leases | 146,128 | | 143,410 | | 138,809 | | 2,718 | | 2 | 7,319 | | 5 | | Loans held for sale | 1,715 | | 1,511 | | 2,754 | | 204 | | 14 | (1,039) | | (38) | | Total loans and leases and loans held for sale | 147,843 | | 144,921 | | 141,563 | | 2,922 | | 2 | 6,280 | | 4 | | Total average interest-earning assets | $ | $206,770 | $ | $201,929 | $ | $196,318 | $ | $4,841 | 2% | $ | $10,452 | 5% | | (1) Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | | | | | | | | | | | | | Period-end interest-earning assets of $207.9 billion increased $5.4 billion, or 3%, reflecting a $1.1 billion increase in investments in securities and 3% growth in loans and leases. Total loans and leases increased $3.8 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 $206.8 billion increased $4.8 billion, or 2%, reflecting a $2.7 billion increase in total loans and leases, as well as $1.2 billion increase in investments and $760 million increase in cash held in interest-bearing deposits. The average effective duration of the securities portfolio was 4.1 years, compared with 4.0 years at March 31, 2026 and 3.7 years at June 30, 2025. Period-end interest-earning assets of $207.9 billion increased $14.5 billion, or 8%, reflecting a $2.4 billion increase in investments in securities, a $4.5 billion increase in cash held in interest-bearing deposits and a $7.6 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 largely driven by $5.6 billion of 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. Retail also grew $2.5 billion, reflecting growth in home equity and mortgage, partially offset by Non-Core portfolio runoff. Average interest-earning assets of $206.8 billion increased $10.5 billion, primarily reflecting a $6.3 billion increase in total loans and leases and loans held for sale, as well as $2.6 billion increase in cash held in interest-bearing deposits and a $1.6 billion increase in investments in securities. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Deposits | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | Period-end deposits | | | | | | | $ | | % | $ | | % | | Noninterest-bearing demand | $ | $40,939 | $ | $41,672 | $ | $38,001 | $ | $(733) | (2)% | $ | $2,938 | 8% | | Checking with interest | 40,258 | | 37,675 | | 34,918 | | 2,583 | | 7 | 5,340 | | 15 | | Savings | 23,570 | | 24,114 | | 25,400 | | (544) | | (2) | (1,830) | | (7) | | Money market | 60,029 | | 59,611 | | 55,638 | | 418 | | 1 | 4,391 | | 8 | | Time | 20,824 | | 20,963 | | 21,129 | | (139) | | (1) | (305) | | (1) | | Total period-end deposits | $ | $185,620 | $ | $184,035 | $ | $175,086 | $ | $1,585 | 1% | $ | $10,534 | 6% | | Average deposits | | | | | | | | | | | | | | Noninterest-bearing demand | $ | $39,881 | $ | $39,286 | $ | $37,350 | $ | $595 | 2% | $ | $2,531 | 7% | | Checking with interest | 38,632 | | 37,027 | | 33,847 | | 1,605 | | 4 | 4,785 | | 14 | | Savings | 23,780 | | 24,095 | | 25,536 | | (315) | | (1) | (1,756) | | (7) | | Money market | 60,295 | | 60,141 | | 54,716 | | 154 | | — | 5,579 | | 10 | | Time | 21,032 | | 20,766 | | 22,679 | | 266 | | 1 | (1,647) | | (7) | | Total average deposits | $ | $183,620 | $ | $181,315 | $ | $174,128 | $ | $2,305 | 1% | $ | $9,492 | 5% | Total period-end deposits of $185.6 billion are up 1%, with growth in the Private Bank and Commercial. Private Bank deposits increased 7% to $17.8 billion at the end of second quarter 2026. Average deposits of $183.6 billion increased 1%, primarily reflecting growth in the Private Bank, and in retail, primarily low-cost categories. Total period-end deposits of $185.6 billion increased 6%, primarily reflecting growth in the Private Bank of $9.1 billion, and $1.5 billion in Commercial, partially offset by a $0.4 billion reduction in higher-cost Treasury brokered deposits. Average deposits of $183.6 billion were up 5%. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Borrowed Funds | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | Period-end borrowed funds | | | | | | | $ | | % | $ | | % | | Short-term borrowed funds | $ | $1,159 | $ | $54 | $ | $249 | $ | $1,105 | NM | $ | $910 | NM | | Long-term borrowed funds | | | | | | | | | | | | | | FHLB advances | 5,763 | | 2,513 | | 1,542 | | 3,250 | | 129 | 4,221 | | NM | | Senior debt | 7,078 | | 7,076 | | 6,821 | | 2 | | — | 257 | | 4 | | Subordinated debt and other debt | 1,421 | | 1,419 | | 1,752 | | 2 | | — | (331) | | (19) | | Auto collateralized borrowings | 928 | | 1,252 | | 2,411 | | (324) | | (26) | (1,483) | | (62) | | Total borrowed funds | $ | $16,349 | $ | $12,314 | $ | $12,775 | $ | $4,035 | 33% | $ | $3,574 | 28% | | Average borrowed funds | | | | | | | | | | | | | | Short-term borrowed funds | $ | $989 | $ | $454 | $ | $925 | $ | $535 | 118 % | $ | $64 | 7% | | Long-term borrowed funds | | | | | | | | | | | | | | FHLB advances | 3,538 | | 1,408 | | 1,063 | | 2,130 | | 151 % | 2,475 | | 233 | | Senior debt | 7,078 | | 6,843 | | 7,042 | | 235 | | 3 | 36 | | 1 | | Subordinated debt and other debt | 1,419 | | 1,415 | | 1,759 | | 4 | | — | (340) | | (19) | | Auto collateralized borrowings | 1,077 | | 1,409 | | 2,635 | | (332) | | (24) | (1,558) | | (59) | | Total average borrowed funds | $ | $14,101 | $ | $11,529 | $ | $13,424 | $ | $2,572 | 22% | $ | $677 | 5% | Period-end borrowed funds increased $4.0 billion, primarily reflecting an increase in FHLB advances, partially offset by a decrease in collateralized borrowings on auto loans as the associated portfolio runs down. Average borrowed funds increased $2.6 billion, driven primarily by an increase in FHLB advances, as well as an increase in senior debt as a result of issuance in the first quarter, partially offset by a decrease in auto collateralized borrowings. Period-end borrowed funds were up $3.6 billion, primarily reflecting an increase in FHLB advances, partially offset by the decrease in auto collateralized borrowings, given runoff of the associated portfolio. Average borrowed funds increased by $677 million, given the increase in FHLB advances, largely offset by the decrease in auto collateralized borrowings. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Capital | | | | | | | 2Q26 change from | | | | | | | ($s and shares in millions, except per share data) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | Period-end capital | | | | | | | $ | | % | $ | | % | | Stockholders' equity | $ | $26,183 | $ | $26,172 | $ | $25,234 | $ | $11 | — | $ | $949 | 4% | | Stockholders' common equity | 24,072 | | 24,061 | | 23,121 | | 11 | | — | 951 | | 4 | | Tangible common equity | 16,185 | | 16,165 | | 15,246 | | 20 | | — | 939 | | 6 | | Tangible book value per common share | $ | $38.29 | $ | $37.94 | $ | $35.23 | $ | $0.35 | 1% | $ | $3.06 | 9% | | Common shares - at end of period | 422.7 | | 426.0 | | 432.8 | | (3.3) | | (1) | (10.1) | | (2) | | Common shares - average (diluted) | 426.7 | | 429.9 | | 436.5 | | (3.2) | | (1)% | (9.9) | | (2)% | | Common equity tier 1 capital ratio(1) | 10.4 | | 10.5 | | 10.6 | | | | | | | | | Total capital ratio(1) | 13.6 | | 13.7 | | 13.8 | | | | | | | | | Tangible common equity ratio | 7.2 | | 7.3 | | 7.2 | | | | | | | | | Tier 1 leverage ratio(1) | 9.2 | | 9.3 | | 9.4 | | | | | | | | | (1) Current reporting-period regulatory capital ratios are preliminary. | | | | | | | | | | | | | | | | | | --- | --- | --- | | Second quarter 2026 | | | - The CET1 capital ratio of 10.4% as of June 30, 2026 compares with 10.5% at March 31, 2026 and 10.6% at June 30, 2025. - Total capital ratio of 13.6% compares with 13.7% at March 31, 2026 and 13.8% as of June 30, 2025. - Tangible common equity ratio of 7.2% compares with 7.3% at March 31, 2026 and 7.2% as of June 30, 2025. - Tangible book value per common share of $38.29, up 1% compared with first quarter 2026, and up 9% versus second quarter 2025. - Total capital returned to shareholders was $422 million in second quarter 2026. - Paid $197 million in common dividends to shareholders during second quarter 2026. This compares with $198 million in common dividends during first quarter 2026 and $185 million during second quarter 2025. - Repurchased $225 million of common shares during second quarter 2026, compared with $300 million in first quarter 2026 and $200 million in second quarter 2025. | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Credit quality review | | | | | | | 2Q26 change from | | | | | | | ($s in millions) | 2Q26 | | 1Q26 | | 2Q25 | | 1Q26 | | | 2Q25 | | | | | | | | | | | $/bps/% | | % | $/bps/% | | % | | Nonaccrual loans and leases(1) | $ | $1,435 | $ | $1,497 | $ | $1,524 | $ | $(62) | (4)% | $ | $(89) | (6)% | | 90+ days past due and accruing(2) | 183 | | 208 | | 194 | | (25) | | (12) | (11) | | (6) | | Net charge-offs | 135 | | 138 | | 167 | | (3) | | (2) | (32) | | (19) | | Provision for credit losses | 134 | | 140 | | 164 | | (6) | | (4) | (30) | | (18) | | Allowance for credit losses | $ | $2,184 | $ | $2,185 | $ | $2,209 | $ | $(1) | — | $ | $(25) | (1)% | | Nonaccrual loans and leases to loans and leases | 0.97 | | 1.04 | | 1.09 | | (7) | | | (12) | | | | Net charge-offs as a % of total loans and leases | 0.37 | | 0.39 | | 0.48 | | (2) | | | (11) | | | | Allowance for credit losses to loans and leases | 1.48 | | 1.52 | | 1.59 | | (4) | | | (11) | | | | Allowance for credit losses to nonaccrual loans and leases | 152 | | 146 | | 145 | | 6 | | | 7 | | | | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing. | | | | | | | | | | | | | | (2) 90+ days past due and accruing includes $172 million, $179 million, and $128 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2026, March 31, 2026, and June 30, 2025, respectively. | | | | | | | | | | | | | - Nonaccrual loans of $1.4 billion decreased 4%, driven by a decrease in commercial real estate, as we continue to workout the General Office portfolio. The nonaccrual loans to total loans ratio of 0.97% compares with 1.04% at March 31, 2026. - Net charge-offs of $135 million, or 37 basis points of average loans and leases, compares with 39 basis points in the prior quarter, reflecting decreases in commercial real estate and retail, partially offset by higher C&I. - The second quarter 2026 provision for credit losses of $134 million compares with $140 million for first quarter 2026. - The ratio of allowance for credit losses to total loans of 1.48% was down slightly compared with 1.52% as of March 31, 2026 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. - The allowance for credit losses to nonaccrual loans and leases ratio of 152% increased from 146% at March 31, 2026, reflecting the decline in nonaccrual loans. - Nonaccrual loans decreased 6% driven largely by a 13% decrease in commercial, reflecting a decline in commercial real estate. The nonaccrual loans to total loans ratio of 0.97% compares with 1.09% at June 30, 2025. - Net charge-offs of $135 million, or 37 basis points of average loans and leases compares with 48 basis points for second quarter 2025, reflecting a decrease in commercial real estate and retail. - Provision for credit losses of $134 million decreased compared with a $164 million provision in second quarter 2025 reflecting the runoff of the Non-Core portfolio and improving credit trends and loan mix. - Allowance for credit losses of $2.2 billion decreased $25 million compared with June 30, 2025 given the continued Non-Core runoff and other improvements in loan mix. Allowance for credit losses ratio of 1.48% as of June 30, 2026 compares with 1.59% as of June 30, 2025. - The allowance for credit losses to nonaccrual loans and leases ratio of 152% compares with 145% as of June 30, 2025. Corresponding Financial Tables and Information Investors are encouraged to review the foregoing summary and discussion of Citizens’ earnings and financial condition in conjunction with the detailed financial tables and other information available on the Investor Relations portion of the company’s website at www.citizensbank.com/about-us. Media: Peter Lucht - (781) 655-2289 Investors: Kristin Silberberg - (203) 900-6854 ### Conference Call CFG management will host a live conference call today with details as follows: Time: 9:00 am ET Dial-in: (800) 369-1703, conference ID 1679767 Webcast/Presentation: The live webcast will be available at http://investor.citizensbank.com under Events & Presentations. Replay Information: A replay of the conference call will be available beginning at 12:00 pm ET on July 16, 2026 through August 16, 2026. The webcast replay will be available at http://investor.citizensbank.com under Events & Presentations. About Citizens Financial Group, Inc. Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $233.8 billion in assets as of June 30, 2026. 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 3,000 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. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook. ### 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. See the following pages for reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures. Non-GAAP financial measures and reconciliations (in millions, except share, per-share and ratio data) | Line item | | QUARTERLY TRENDS | QUARTERLY TRENDS | QUARTERLY TRENDS | QUARTERLY TRENDS / 2Q26 Change | QUARTERLY TRENDS / 2Q26 Change | QUARTERLY TRENDS / 2Q26 Change | 2Q26 Change | 2Q26 Change | 2Q26 Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2Q26 | 1Q26 | 2Q25 | 1Q26 | | | 2Q25 | | | | | | | | | $/bps | | % | $/bps | | % | | Pre-provision profit: | | | | | | | | | | | | Total revenue (GAAP) | A | $2,283 | $2,168 | $2,037 | $115 | | 5% | $246 | | 12% | | Less: Noninterest expense (GAAP) | B | 1,394 | 1,378 | 1,319 | 16 | | 1 | 75 | | 6 | | Pre-provision profit (non-GAAP) | | $889 | $790 | $718 | $99 | | 13% | $171 | | 24% | | Operating leverage: | | | | | | | | | | | | Total revenue (GAAP) | A | $2,283 | $2,168 | $2,037 | $115 | | 5.25% | $246 | | 12.01% | | Less: Noninterest expense (GAAP) | B | 1,394 | 1,378 | 1,319 | 16 | | 1.15 | 75 | | 5.64 | | Operating leverage | | | | | | | 4.10% | | | 6.37% | | Efficiency ratio: | | | | | | | | | | | | Efficiency ratio | B/A | 61.08% | 63.55% | 64.76% | (247) | bps | | (368) | bps | | | Book value per common share and tangible book value per common share: | | | | | | | | | | | | Common shares - at period-end (GAAP) | C | 422,677,660 | 426,023,578 | 432,768,811 | (3,345,918) | | (1%) | (10,091,151) | | (2%) | | Common stockholders' equity (GAAP) | D | $24,072 | $24,061 | $23,121 | $11 | | — | $951 | | 4 | | Less: Goodwill (GAAP) | | 8,220 | 8,221 | 8,187 | (1) | | — | 33 | | — | | Less: Other intangible assets (GAAP) | | 105 | 112 | 128 | (7) | | (6) | (23) | | (18) | | Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) | | 438 | 437 | 440 | 1 | | — | (2) | | — | | Tangible common equity (non-GAAP) | E | $16,185 | $16,165 | $15,246 | $20 | | — | $939 | | 6% | | Book value per common share (GAAP) | D/C | $56.95 | $56.48 | $53.43 | $0.47 | | 1% | $3.52 | | 7% | | Tangible book value per common share (non-GAAP) | E/C | 38.29 | 37.94 | 35.23 | 0.35 | | 1 | 3.06 | | 9 | | Net interest income and net interest margin on an FTE basis: | | | | | | | | | | | | Net interest income (annualized) (GAAP) | F | $6,542 | $6,337 | $5,770 | $205 | | 3% | $772 | | 13% | | Average interest-earning assets (GAAP) | G | 206,770 | 201,929 | 196,318 | 4,841 | | 2 | 10,452 | | 5 | | Net interest margin (GAAP) | F/G | 3.16% | 3.14% | 2.94% | 2 | bps | | 22 | bps | | | Net interest income (GAAP) | | $1,631 | $1,562 | $1,437 | $69 | | 4% | $194 | | 14% | | FTE adjustment | | 3 | 3 | 4 | — | | — | (1) | | (25) | | Net interest income on an FTE basis (non-GAAP) | | 1,634 | 1,565 | 1,441 | 69 | | 4 | 193 | | 13 | | Net interest income on an FTE basis (annualized) (non-GAAP) | H | 6,555 | 6,350 | 5,786 | 204 | | 3 | 769 | | 13 | | Net interest margin on an FTE basis (non-GAAP) | H/G | 3.17% | 3.14% | 2.95% | 3 | bps | | 22 | bps | | | Return on average common equity and return on average tangible common equity: | | | | | | | | | | | | Net income available to common stockholders (GAAP) | I | $554 | $484 | $402 | $70 | | 14% | $152 | | 38% | | Average common equity (GAAP) | J | $23,839 | $23,995 | $22,494 | ($156) | | (1) | $1,345 | | 6 | | Less: Average goodwill (GAAP) | | 8,221 | 8,198 | 8,187 | 23 | | — | 34 | | — | | Less: Average other intangibles (GAAP) | | 109 | 114 | 134 | (5) | | (4) | (25) | | (19) | | Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) | | 438 | 437 | 438 | 1 | | — | — | | — | | Average tangible common equity (non-GAAP) | K | $15,947 | $16,120 | $14,611 | ($173) | | (1%) | $1,336 | | 9% | | Return on average common equity (GAAP) | I/J | 9.31% | 8.19% | 7.18% | 112 | bps | | 213 | bps | | | Return on average tangible common equity (non-GAAP) | I/K | 13.91% | 12.19% | 11.05% | 172 | bps | | 286 | bps | | | Return on average total assets and return on average total tangible assets: | | | | | | | | | | | | Net income (GAAP) | L | $587 | $517 | $436 | $70 | | 14% | $151 | | 35% | | Average total assets (GAAP) | M | $229,263 | $224,224 | $217,661 | $5,039 | | 2 | $11,602 | | 5 | | Less: Average goodwill (GAAP) | | 8,221 | 8,198 | 8,187 | 23 | | — | 34 | | — | | Less: Average other intangibles (GAAP) | | 109 | 114 | 134 | (5) | | (4) | (25) | | (19) | | Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) | | 438 | 437 | 438 | 1 | | — | — | | — | | Average tangible assets (non-GAAP) | N | $221,371 | $216,349 | $209,778 | $5,022 | | 2% | $11,593 | | 6% | | Return on average total assets (GAAP) | L/M | 1.03% | 0.94% | 0.80% | 9 | bps | | 23 | bps | | | Return on average total tangible assets (non-GAAP) | L/N | 1.06% | 0.97% | 0.83% | 9 | bps | | 23 | bps | | Non-GAAP financial measures and reconciliations (continued) (in millions, except share, per-share and ratio data) | Line item | | QUARTERLY TRENDS | QUARTERLY TRENDS | QUARTERLY TRENDS | QUARTERLY TRENDS / 2Q26 Change | QUARTERLY TRENDS / 2Q26 Change | 2Q26 Change | 2Q26 Change | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2Q26 | 1Q26 | 2Q25 | 1Q26 | | 2Q25 | | | | | | | | $/bps | % | $/bps | % | | Common equity ratio and tangible common equity ratio: | | | | | | | | | | Total assets (GAAP) | O | $233,836 | $227,918 | $218,310 | $5,918 | 3% | $15,526 | 7% | | Less: Goodwill (GAAP) | | 8,220 | 8,221 | 8,187 | (1) | — | 33 | — | | Less: Other intangible assets (GAAP) | | 105 | 112 | 128 | (7) | (6) | (23) | (18) | | Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) | | 438 | 437 | 440 | 1 | — | (2) | — | | Tangible assets (non-GAAP) | P | $225,949 | $220,022 | $210,435 | $5,927 | 3% | $15,514 | 7% | | Common equity ratio (GAAP) | D/O | 10.3% | 10.6% | 10.6% | (27) bps | | (30) bps | | | Tangible common equity ratio (non-GAAP) | E/P | 7.2 | 7.3 | 7.2 | (10) bps | | (4) bps | | ### 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," and "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: - 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; - The general state of the economy and employment, as well as general business and economic conditions, and changes in the competitive environment; - Our capital and liquidity requirements under regulatory standards and our ability to generate capital and liquidity on favorable terms; - 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; - The effect of changes in the level of commercial and consumer deposits on our funding costs and net interest margin; - Our ability to achieve our financial performance goals and execute on our strategic business initiatives, including the continued expansion of Private Bank and Private Wealth, and our aim to position us as a more innovative, modern, and customer-centric bank; - The effects of geopolitical instability, including the war in Ukraine and the conflict in 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; - Our ability to comply with supervisory requirements and expectations as well as new or amended regulations; - Liabilities and business restrictions resulting from litigation and regulatory investigations; - The impact of changes in interest rates on our net interest income, net interest margin, mortgage originations, and mortgage servicing rights, as well as on market liquidity, which could affect our funding sources and ability to originate and distribute financial products in the primary and secondary markets; - Financial services reform and other current, pending, or future legislation or regulation that could have a negative effect on our revenue and businesses; - 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; - 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 - 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, 2025 as filed with the Securities and Exchange Commission. Note: Per share amounts and ratios presented in this document are calculated using whole dollars. --- ## EX-99.2 SEC source: [a2q26earningspresentatio.htm](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/a2q26earningspresentatio.htm) 2Q26 Financial Results July 16, 2026 2 Forward-looking statements and use of non-GAAP financial measures 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," and "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: - 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; - The general state of the economy and employment, as well as general business and economic conditions, and changes in the competitive environment; - Our capital and liquidity requirements under regulatory standards and our ability to generate capital and liquidity on favorable terms; - 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; - The effect of changes in the level of commercial and consumer deposits on our funding costs and net interest margin; - Our ability to achieve our financial performance goals and execute on our strategic business initiatives, including the continued expansion of Private Bank and Private Wealth, and our aim to position us as a more innovative, modern, and customer-centric bank; - The effects of geopolitical instability, including the war in Ukraine and the conflict in 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; - Our ability to comply with supervisory requirements and expectations as well as new or amended regulations; - Liabilities and business restrictions resulting from litigation and regulatory investigations; - The impact of changes in interest rates on our net interest income, net interest margin, mortgage originations, and mortgage servicing rights, as well as on market liquidity, which could affect our funding sources and ability to originate and distribute financial products in the primary and secondary markets; - Financial services reform and other current, pending, or future legislation or regulation that could have a negative effect on our revenue and businesses; - 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; - 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 - 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, 2025 as filed with the Securities and Exchange Commission. 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 Appendix presents reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures. 3 2Q26 Earnings highlights 2Q26 1Q26 2Q25 Q/Q Y/Y $s in millions $/bps % $/bps % Net interest income $ 1,631 $ 1,562 $ 1,437 $ 69 4 % $ 194 14 % Noninterest income 652 606 600 46 8 52 9 Total revenue 2,283 2,168 2,037 115 5 246 12 Noninterest expense 1,394 1,378 1,319 16 1 75 6 Pre-provision profit 889 790 718 99 13 171 24 Provision for credit losses 134 140 164 (6) (4) (30) (18) Income before income tax expense 755 650 554 105 16 201 36 Income tax expense 168 133 118 35 26 50 42 Net income $ 587 $ 517 $ 436 $ 70 14 % $ 151 35 % Preferred dividends/other 33 33 34 — — (1) (3) Net income available to common stockholders $ 554 $ 484 $ 402 $ 70 14 % $ 152 38 % $s in billions Average interest-earning assets $ 206.8 $ 201.9 $ 196.3 $ 4.8 2 % $ 10.5 5 % Average deposits $ 183.6 $ 181.3 $ 174.1 $ 2.3 1 % $ 9.5 5 % Performance metrics Net interest margin 3.16 % 3.14 % 2.94 % 2 bps 22 bps Net interest margin, FTE(1) 3.17 3.14 2.95 3 22 Loan-to-deposit ratio (period-end) 79.5 78.1 79.6 139 (10) ROTCE 13.9 12.2 11.0 172 286 Efficiency ratio 61.1 63.6 64.8 (247) (368) Noninterest income as a % of total revenue 29 % 28 % 29 % 59 bps (87) bps Operating leverage 4.10 % 6.37 % Per common share Diluted earnings $ 1.30 $ 1.13 $ 0.92 $ 0.17 15 % $ 0.38 41 % Tangible book value $ 38.29 $ 37.94 $ 35.23 $ 0.35 1 % $ 3.06 9 % Average diluted shares outstanding (in millions) 426.7 429.9 436.5 (3.2) (1) % (9.9) (2) % See pages 29-30 for notes and important information on Non-GAAP Financial Measures. - CET1 ratio of 10.4%(1); 9.2% adjusted for AOCI opt-out removal – Share repurchases of $225 million in 2Q26 - Strong liquidity profile; spot LDR of 79.5%; average deposits up $2.3 billion, or 1% QoQ, largely driven by growth in the Private Bank, and in retail, primarily low-cost categories – Private Bank spot deposits of $17.8 billion - Loans up 3% on a spot basis and 2% on an average basis QoQ, with growth led by Commercial and Private Bank - Continuing favorable credit trends with net charge-offs of 37 bps, down 2 bps QoQ; Strong ACL coverage of 1.48% - EPS of $1.30, up 15% QoQ, and 41% YoY, reflecting strong PPNR growth - ROTCE of 13.9%, up 172 bps QoQ; up 286 bps YoY - PPNR of $889 million, up 13% QoQ; up 24% YoY; Record revenue with: – NII up 4.4% QoQ, with NIM up 3 bps to 3.17%; YoY NII up 14%, with NIM up 22 bps – Fees up 8% QoQ; up 9% YoY driven by Capital Markets and Wealth – Capital Markets up 46% YoY; Wealth up 16% YoY Strong 2Q26 results; EPS up 41% YoY, 6.4% positive operating leverage Strong capital and liquidity position while continuing to repurchase shares Positive trends in loans and credit 2Q26 Overview - Private Bank's strong momentum continuing; contributed $0.15 to 2Q26 EPS (11.5% of total), up from $0.11 in 1Q26; ROE >25%(2); continuing to open new PBOs and hire Wealth talent - Good visibility and confidence in driving NII higher, with NIM projected to increase to 3.30-3.50% by 4Q27 - Continued strong execution of strategic initiatives (Private Bank, NYC Metro, Private Capital, Payments) - Reimagine the Bank (multi-year transformational program) making good progress; targeting ~$450 million pre-tax run- rate benefit by year-end 2028 Well positioned to achieve 16-18% ROTCE by end of 2027 PPNR performance 2Q26 QoQ YoY NII $ 1,631 4.4% 13.5% Fees 652 7.6 8.7 Expenses 1,394 1.2 5.7 PPNR $ 889 12.5% 23.8% See pages 29-30 for notes and important information on Non-GAAP Financial Measures. $s in millions 5 3.14% 0.06% 0.01% (0.02)% (0.02)% 3.17% 1Q26 Terminated swaps & Non-Core impact Fixed-rate asset repricing Balance sheet mix & pricing Day count & other impacts 2Q26 $196.3B $197.6B $199.2B $201.9B $206.8B $1,437 $1,488 $1,537 $1,562 $1,631 2.95% 3.00% 3.07% 3.14% 3.17% 2Q25 3Q25 4Q25 1Q26 2Q26 - NII up 4.4%, reflects higher NIM and a 2% increase in average interest-earning assets – NIM of 3.17%, up 3 bps QoQ, reflecting the benefit of lower terminated swap impacts and Non-Core runoff, and fixed-rate asset repricing, partially offset by increased funding costs - Interest-earning assets yield of 4.90%, up 9 bps - Interest-bearing deposit costs up 4 bps to 2.08%; cumulative interest-bearing deposit down-beta of ~48% - Total deposit costs up 3 bps to 1.63%; total cost of funds up 5 bps to 1.85% Net interest income NII and NIM Average interest-earning assets Net interest income NIM, FTE Linked Quarter NIM 1Q26 to 2Q26 $s in millions, except earning assets 6 $600 $630 $620 $606 $652 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest income $s in millions Linked Quarter Year-Over-Year Noninterest income $s in millions 2Q26 1Q26 2Q25 $ Q/Q Y/Y Service charges and fees $ 117 $ 112 $ 111 $ 5 $ 6 Capital markets fees 153 134 105 19 48 Wealth fees 102 100 88 2 14 Card fees 89 83 90 6 (1) Mortgage banking fees 42 42 73 — (31) FX and derivative products 47 44 41 3 6 Letter of credit and loan fees 52 50 45 2 7 Securities gains, net 6 7 5 (1) 1 Other income(1) 44 34 42 10 2 Noninterest income $ 652 $ 606 $ 600 $ 46 $ 52 Noninterest income details - Noninterest income of $652 million, up 9% – Service charges and fees increased $6 million, primarily driven by higher cash management fees – Capital markets fees increased $48 million, or 46%, reflecting higher M&A, loan syndication and debt underwriting fees – Wealth fees increased $14 million, or 16%, primarily from growth in AUM, reflecting net inflows and market appreciation – Mortgage banking fees decreased $31 million, largely reflecting lower net MSR valuation results +9% YoY +8% QoQ See pages 29-30 for notes. - Noninterest income of $652 million, up 8% – Service charges and fees increased $5 million, primarily from seasonality and growth in account and cash management fees – Capital markets fees increased $19 million, to a record for Q2, reflecting higher loan syndication and debt and equity underwriting fees – Record wealth fees increased $2 million reflecting higher advisory fees – Card fees increased $6 million, reflecting increased seasonal spend across credit and debit cards – FX and derivative products increased $3 million, primarily given higher interest rate and FX hedging activity, partially offset by a decline in commodities hedging activity – Other income increased $10 million, reflecting several modest revenue items 7 Noninterest expense Linked Quarter Year-Over-Year 2Q26 1Q26 2Q25 $ $s in millions Q/Q Y/Y Salaries & employee benefits $ 745 $ 758 $ 681 $ (13) $ 64 Equipment & software 195 197 193 (2) 2 Outside services 174 162 169 12 5 Occupancy 108 114 108 (6) — Other operating expense 172 147 168 25 4 Noninterest expense $ 1,394 $ 1,378 $ 1,319 $ 16 $ 75 Full-time equivalents (FTEs) 17,727 17,380 17,677 347 50 Noninterest expense details $1,319 $1,335 $1,343 $1,378 $1,394 64.8% 63.0% 62.2% 63.6% 61.1% Noninterest expense Efficiency ratio 2Q25 3Q25 4Q25 1Q26 2Q26 - Noninterest expense of $1.4 billion, up 1% – Salaries and benefits decreased $13 million, primarily reflecting lower payroll taxes given seasonality – Outside services increased $12 million, largely due to higher technology-related costs – Occupancy decreased $6 million, largely reflecting lower branch maintenance costs – Other operating expense increased $25 million, reflecting higher insurance and various other modest expense items - Noninterest expense of $1.4 billion, up 6% – Salaries and benefits increased $64 million, reflecting hiring related to the Private Bank and Private Wealth buildout, and compensation associated with growth in Capital Markets fees – Outside services increased $5 million, primarily driven by costs to implement the Reimagine the Bank program – Other operating expense increased $4 million, reflecting the impact of various sundry items $s in millions Noninterest expense 2Q26 Reimagine the Bank implementation costs of ~$7 million 8 $138.8 $140.0 $141.8 $143.4 $146.1 $3.9 $3.3 $2.7 $2.2 $1.8 $134.9 $136.7 $139.1 $141.2 $144.3 Non-Core Core Loan yield 2Q25 3Q25 4Q25 1Q26 2Q26 ~19% QoQ - Period-end loans up $3.8 billion, or 3% – Private Bank growth of $1.9 billion, driven by commercial line utilization, multi-family and residential mortgage – Commercial* up $1.5 billion, or 2%, given net new money originations in corporate banking and higher line utilization, partially offset by CRE paydowns – Retail* up $0.8 billion, driven by home equity and mortgage – Non-Core loans down $0.4 billion, reflecting continued auto runoff - Average loans up $2.7 billion, or 2%; Core loans up 2% - Loan yield of 5.36%, up 8 bps Loans and leases $s in billions Average loans and leases $139.3 $140.9 $142.7 $143.7 $147.5 $3.6 $3.0 $2.5 $2.0 $1.6 $135.7 $137.9 $140.2 $141.7 $145.9 Non-Core Core 2Q25 3Q25 4Q25 1Q26 2Q26 $s in billions Period-end loans and leases 5.31% 5.35% 5.29% 5.28% 5.36% Linked Quarter Year-Over-Year ~20% QoQ ~3% QoQ ~2% QoQ *Excludes Non-Core portfolio and Private Bank. See page 32 for details. - Period-end loans up $8.2 billion, or 6%, including Non-Core runoff of $2.0 billion; Core loans up $10.2 billion, or 7% – Private Bank growth of $4.8 billion, driven primarily by multi-family, residential mortgage and commercial line utilization – Retail* up $2.6 billion, driven by home equity and mortgage – Commercial* up $2.8 billion, reflecting corporate banking net new money originations and higher line utilization, partially offset by CRE paydowns - Average loans up $7.3 billion, or 5%; Core loans up 7% 9 $174.1 $176.0 $179.9 $181.3 $183.6 2Q25 3Q25 4Q25 1Q26 2Q26 Deposit performance and cost of funds $s in billions Average deposits 1.85% 1.84% 1.72% 1.60% 1.63% 2.35% 2.35% 2.20% 2.04% 2.08% Total deposit costs Interest-bearing deposit costs CommercialConsumer Treasury/Other Year-Over-YearPeriod-end deposits Linked Quarter - Average deposits up $2.3 billion, or 1%, primarily driven by growth in the Private Bank and retail - Period-end deposits are up $1.6 billion, or 1%, reflecting growth in the Private Bank of $1.1 billion and Commercial of $0.7 billion – Private Bank deposits increased 7% to $17.8 billion - Interest-bearing deposit costs up 4 bps to 2.08% – Cumulative interest-bearing deposit down beta of ~48% - Total deposit costs up 3 bps - Total cost of funds up 5 bps $s in billions - Average deposits up $9.5 billion, or 5%, primarily reflecting growth of $9.8 billion in the Private Bank and $1.6 billion in Commercial, partially offset by a $1.5 billion reduction in higher-cost Treasury brokered deposits - Period-end deposits up $10.5 billion, or 6% - Interest-bearing deposit costs down 27 bps - Total deposit costs down 22 bps - Total cost of funds down 22 bps $175.1 $180.0 $183.3 $184.0 $185.6 Consumer Commercial Treasury/Other 2Q25 3Q25 4Q25 1Q26 2Q26 10 Branch deposits 47% Business Banking 12% Citizens Access 4% Private Bank/ Private Wealth 10% Commercial 25% Treasury/ Other 2% As of 6/30/26 Highly diversified and retail-oriented deposit base $185.6B Period-end deposits Peer Avg(1) Business mix Product mix Strong consumer deposit base(1) (as % of total average deposits) 43% 43% 42% 22% 23% 22% 21% 20% 20% NIB Low-cost deposits 2Q25 1Q26 2Q26 NIB and low-cost deposits (2) 56% 64% 64% 1Q26 1Q26 2Q26 See pages 29-30 for notes. NIB 22% Checking With Interest 22% Savings 9% Citizens Access Savings 4% Money Market 32% Time 11% (as % of total deposits at 6/30/26) 11 $1,524 $1,518 $1,504 $1,497 $1,435 $939 $933 $895 $867 $818 $585 $585 $609 $630 $617 145% 145% 145% 146% 152% Commercial Retail ACL to nonaccrual loans and leases Nonaccrual loans to total loans 2Q25 3Q25 4Q25 1Q26 2Q26 $164 $154 $137 $140 $134 $167 $162 $155 $138 $135 0.48% 0.46% 0.43% 0.39% 0.37% Provision for credit losses Net charge-offs Net c/o ratio 2Q25 3Q25 4Q25 1Q26 2Q26 Credit quality overview $s in millions $s in millions Credit provision expense; net charge-offs Nonaccrual loans Commentary - Net charge-offs of $135 million, or 37 bps of average loans, down from $138 million, or 39 bps, in 1Q26, reflecting decreases in commercial real estate and retail, partially offset by higher C&I - Nonaccrual loans of $1.4 billion are down 4% QoQ and 6% YoY, driven by a decrease in commercial real estate, as we continue to workout the General Office portfolio 1.09% 1.08% 1.05% 1.04% 0.97% - The allowance for credit losses is broadly stable, reflecting – Improving loan mix, with Non-Core portfolio runoff and reduced CRE, along with lower loss-content originations in C&I, residential real estate secured and the Private Bank – Economic scenario is largely unchanged from 1Q26, incorporating economic effects associated with oil price pressures and higher interest rates - We also continue to apply a more severe scenario against areas of concern, such as General Office - The General Office portfolio continues to be well reserved, with steady progress being made on workouts – ACL coverage for CRE General Office of 9.5%, combined with charge-offs taken on the portfolio since March 31, 2023, equates to a potential loss rate of ~20%* on the portfolio, stable with 1Q26 and prior year Allowance for credit losses $2,209 $2,201 $2,183 $2,185 $2,184 1.39% 1.37% 1.35% 1.27% 1.27% 1.77% 1.74% 1.70% 1.75% 1.67% Retail Commercial Retail ACL Commercial ACL 2Q25 3Q25 4Q25 1Q26 2Q26 $s in millions Allowance for credit losses (1) * Potential loss rate calculated relative to the $4.1B General Office portfolio balance at 3/31/23, the start of loss emergence. Commentary 1.59% 1.56% 1.53% 1.52% 1.48% Total ACL ratio: See pages 29-30 for notes. (1) 13 Strong capital position $s in billions (period-end) 2Q25 3Q25 4Q25 1Q26 2Q26 Basel III basis(1) Common equity tier 1 capital $ 17.8 $ 18.0 $ 18.2 $ 18.2 $ 18.4 Risk-weighted assets $ 168.0 $ 168.9 $ 171.5 $ 173.3 $ 176.3 Common equity tier 1 ratio 10.6 % 10.7 % 10.6 % 10.5 % 10.4 % Tier 1 capital ratio 11.9 % 11.9 % 11.9 % 11.7 % 11.6 % Total capital ratio 13.8 % 13.9 % 13.8 % 13.7 % 13.6 % Tangible common equity ratio 7.2 % 7.4 % 7.5 % 7.3 % 7.2 % TBV/share CET1 $ % 1Q26 10.49% $37.94 Net Income 0.33 1.39 3.7% Common and preferred dividends (0.13) (0.54) (1.4) RWA increase (0.18) Treasury stock (0.13) (0.22) (0.6) Goodwill and intangibles — 0.02 0.1 AOCI — (0.41) (1.1) Other 0.03 0.11 0.3 Total change (0.08) 0.35 0.9% 2Q26 10.41% $38.29 CET1 ratio remains strong(2) Highlights - 2Q26 CET1 ratio of 10.4% – 9.2% CET1 ratio adjusted for AOCI opt-out removal - TBV/share of $38.29 was up 1% QoQ, and 9% YoY – Tangible common equity ratio of 7.2%, down 10 bps QoQ - Total capital returned to shareholders was $422 million in 2Q26 – Paid $197 million in common dividends to shareholders – Repurchased $225 million of common stock at a weighted-average price of $63.99 See pages 29-30 for notes. - Continued strong client growth in Q2 with ~$2.8 billion increase in average deposits; ~$1.1 billion spot growth - ~31% spot DDA; ~2% total deposit cost, up ~8 bps QoQ reflecting heightened influx of interest-bearing deposits mid- quarter Deposits $4.0 $7.3 $8.4 $4.9 $7.7 $9.7 Avg Spot 2Q25 1Q26 2Q26 $8.5 $15.6 $18.3 $8.7 $16.6 $17.8 Avg Spot 2Q25 1Q26 2Q26 Loans Private Bank buildout continues strong progress Strong momentum in 2026 $s in billions $7.2 $10.1 $11.2 $6.5 $8.7 $9.6 AUM Transactional assets 2Q25 1Q26 2Q26 As of 6/30/26 $s in billions Client Assets - Avg. portfolio yield ~6.0%; ~4% spread over deposit cost, stable QoQ - 2Q26 loan growth driven by increased commercial line utilization and strong originations in residential mortgage and multi-family (2) (1) (3) 10 Private Bank Offices opened to date $s in billions - 11 advisor teams added since launch across key markets - Co-locating Private Wealth teams in all Private Bank markets - Total Client Assets of $11.2 billion at 2Q26 includes transactional assets of $1.6 billion See pages 29-30 for notes. Open Planned 2027 expansion San Francisco, CA Boston, MA Mill Valley, CA New York, NY San Diego, CA Palm Beach, FL Newport Beach, CA West Palm Beach, FL Menlo Park, CA Laurel Village, CA Beverly Hills, CA (1H27) Greenwich, CT (1H27) Boca Raton, FL (2H27) Manhattan Beach, CA (2H27) Walnut Creek, CA (2H27) Wellesley, MA (2H27) 15 Reimagine the Bank progressing well - Expect minimal EPS impact in 2026 as start-up costs offset in-year benefits – ~$100 million pre-tax run-rate benefit by year-end 2026 - ~$200+ million pre-tax run-rate benefit by year-end 2027 - ~$450+ million pre-tax run-rate benefit by year-end 2028 Tracking well with original financial targets provided January 2026 Consumer Commercial Technology – AI pilot underway to enhance client prospecting, deal research, and pitch creation – Initiated re-architecture of back office with AI agents orchestrating E2E workflows to reduce manual tasks – Launched AI Case Classification for client inquiries, building a foundation for faster routing and case handling and improved analysis – AI solutions introduced to our Credit Card contact centers to help resolve client queries more efficiently – AI pilot underway to automatically log complaints and help improve root-cause analysis and colleague capacity – New digital tools rolled out to reduce friction for our customers joining the bank – Expect to improve engineering productivity by 10x based on early pilot; now deploying new software tools across engineering teams through 2026 – Progressing with rationalization and modernization of technology stack Corporate – Supplier negotiations continuing on plan; further agreements expected through 2H26 – Launched our first enterprise-wide AI-chat agent; initial focus to deliver HR content to colleagues with expanded use cases over time – Advanced property strategy to support a more efficient, future-ready operating model Vendors Property HR 16 Network Evolution and "Xperience" Transformation (NEXT) Over the last 10 years we have created a more efficient branch network... Focused on accelerating high-quality consumer deposit and revenue growth Network optimization - Exit ~100-120 in-store branches to self-fund ~50-60 new nearby traditional branches - Selective closures, strategic relocations, and branch upgrades to advisory and business-banking ready formats - Expand sales capacity; shift more colleagues to focus on advice – Add Private Client bankers and specialist coverage in Wealth, Small Business Specialized sales force - Invest to build density in high- opportunity core markets - Measured approach adding attractive de novo branches over a 10-year horizon In-market de novo NEXT will benefit medium/long-term performance without impacting our path to 16-18% ROTCE by end of 2027 Expect relatively stable retail branch count through 2035 Reposition the network for growth Target small- business Increase share in New York Metro Deepen with mass affluent/affluent customers 2015 2025 ~2x Deposits per branch(2) 1,180 230 (440) 970 2015 HSBC/ISBC Net Closures 2025 Retail branches(1) (#) See pages 29-30 for notes. ...going forward we will optimize for deeper relationships and faster growth 17 3Q26 outlook vs. 2Q26 2Q26 3Q26 Outlook Net interest income $1,631MM - Up 2.5-3.5% Noninterest income $652MM - Up ~1% Noninterest expense $1,394MM - Stable to up slightly Net charge-offs $135MM; 37 bps - Stable to down slightly CET1 ratio(1) 10.4% - ~10.5%; ~$125 million in share repurchases Tax rate 22.3% - ~22% See pages 29-30 for notes. - 2026 performance continues to trend favorably vs. January guidance – Expect NII above the guidance range and fees towards the high end; expenses slightly higher given strong revenue performance – Positioned to generate ~600+ bps of positive operating leverage in FY2026 – Continuing favorable credit trends across net charge-offs and other credit metrics FY2026 Commentary 18 Meaningful NIM improvement through 2027 Terminated swaps Non-Core Balance sheet progression/macro impacts Projected NIM range Fixed-rate asset repricing benefit Cumulative time-based NIM benefit vs. 2Q26 4Q26 4Q27 In basis points +6 +1 +7 +10 +1 +11 +6 to +9 -4 to +13 ~3.30 to 3.50% Chart not to scale Net benefit +2 to +22 bps 3.30% 3.50% - Terminated swaps and Non-Core runoff - Fixed-rate asset repricing benefit - Stable-to-improving balance sheet mix – Continued growth in DDA and low-cost deposits – Rotation of loan capital to more attractive portfolios - Relatively stable macroeconomic and rate outlook provides less downside risk given our slightly asset sensitive balance sheet Time-based NIM benefit +11 bps Assumes 10-year treasury rate of ~4.50% through the end of 2027 +2 Cumulative NIM impact from starting point 2Q26 3Q24 2.77% 2Q26 3.17% 4Q26 4Q27 +40 bps -4 to +1 ~3.22 to 3.27% 2Q26 to 4Q27 Factors supporting 3.30 to 3.50% NIM target - Track record of strong execution; excellence in our capabilities, highly competitive with mega-banks and peers - Reimagine the Bank (multi-year transformational program) off to a great start; targeting ~$100 million pre-tax run- rate benefit by year-end 2026, ~$200+ million by year-end 2027, and ~$450+ million by year-end 2028 - Strong capital and liquidity position - Credit allowance remains strong; credit metrics continue to trend favorably - Flexibility to support customers and invest while continuing to return capital to shareholders – Repurchased $225 million of common stock in 2Q26 Citizens is an attractive investment opportunity Maintaining a robust balance sheet Transformed since IPO given strong leadership, differentiated strategy, and customer-focused culture Well positioned to deliver 16 to 18% ROTCE by end of 2027 given strategic initiatives and NII tailwinds - Transformed Consumer Bank with leading retail deposit franchise; well positioned in NYC Metro to gain market share; performance tracking well - Best-positioned Commercial Bank ready to serve private capital and high-growth sectors of the U.S. economy - Building the premier Private Bank/Wealth franchise – Continued to make strong progress, contributing $0.15 to EPS in 2Q26 – Investing for growth while sustaining attractive returns - Significant NII tailwind in 2026 given swaps and positive balance sheet dynamics with NIM increasing to 3.30-3.50% by 4Q27 - Execution of strategic initiatives, positive operating leverage, lower credit costs and share repurchases also contribute to ROTCE improvement Continue to have a series of unique initiatives that will lead to relative medium-term outperformance Appendix - Private Bank financial performance - Interest rate risk management - Non-Core portfolio - Credit 21 2Q26 Private Bank financial performance $s in millions 2Q26 1Q26 4Q25 3Q25 2Q25 Net interest income $148.8 $134.1 $118.3 $100.2 $80.3 Noninterest income 23.1 23.0 23.7 20.2 15.2 Total revenue 171.9 157.1 141.9 120.4 95.4 Noninterest expense 88.4 91.4 85.7 73.0 60.4 Pre-provision profit 83.6 65.7 56.2 47.4 35.1 Provision for credit losses — — — — — Income before income tax expense 83.6 65.7 56.2 47.4 35.1 Income tax expense 21.5 16.9 14.2 12.0 8.9 Net income 62.0 48.8 42.0 35.4 26.2 Contribution to total CFG Diluted EPS $0.15 $0.11 $0.10 $0.08 $0.06 $s in billions Interest-earning assets (spot) $9.7 $7.7 $7.2 $5.9 $4.9 Total Commercial $6.3 $5.0 $4.9 $4.2 $3.4 Total Retail $3.4 $2.7 $2.3 $1.7 $1.5 Total loans (spot) $9.7 $7.7 $7.2 $5.9 $4.9 Total deposits (spot) 17.8 16.6 14.5 12.5 8.7 Risk-weighted assets (spot) $9.9 $8.2 $7.6 $6.4 $5.4 Performance metrics: Efficiency ratio 51.4% 58.2% 60.4% 60.6% 63.2% Noninterest income as a % of total revenue 13.4% 14.7% 16.7% 16.8% 15.9% $s in billions Client assets(1) Assets Under Management (AUM)(2) $9.6 $8.7 $8.6 $7.6 $6.5 Transactional assets(3) 1.6 1.4 1.4 1.4 0.7 Total Private Bank client assets $11.2 $10.1 $10.0 $9.0 $7.2 See pages 29-30 for notes. 22 $30.0 $29.2 $29.5 $31.1 $27.4 $28.2 $26.9 $25.4 $8.6 $14.2 $17.3 $22.1 $23.4 $25.2 $24.4 $23.4 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 $28.6 $30.0 $27.0 $21.4 $10.2 $2.8 $15.6 $24.1 $21.2 2025 2026 2027 2028 2029 Interest rate risk management W.A. receive-fixed rate 3.4% 3.5% 3.6% 3.6% 3.7% 3.7% 3.7% 3.6% 3.2% 3.5% 3.7% 3.7% 3.7% Executed post 6/30/23 3.9% 3.8% 3.8% 3.7% 3.7% 3.7% 3.7% 3.7% 4.0% 3.8% 3.7% 3.7% 3.7% Executed pre 6/30/23 3.2% 3.2% 3.2% 3.3% 3.4% 3.4% 3.3% 3.3% 3.1% 3.2% 3.4% 2.6% —% NII impact from terminated swaps ($MM): In-period impact $(88) $(62) $(52) $(28) $(16) $(10) $(9) $(4) $(457) $(230) $(40) $(3) $0 Sequential benefit $15 $26 $10 $24 $12 $6 $1 $5 $36 $227 $190 $37 $3 Receive-fixed cash flow swaps (average notional in $ billions) - Slightly asset sensitive; approximately +/- 1% impact to NII over the next 12 months with a gradual +/- 100 bps change in rates relative to the forward curve - Receive-fixed cash flow swaps represent the primary tool to manage overall asset sensitivity – Well hedged against lower rates through 2027 – Added ~$2B of spot and ~$2B of forward-starting swaps at attractive rates during the quarter - Pay-fixed swaps against securities portfolio help protect capital by reducing AOCI volatility Receive-fixed swaps executed post 6/30/23 Receive-fixed swaps executed pre 6/30/23 (legacy) Fixed/floating-rate mix 9% 12% 79% Securities $45B 39% 20% 41% Loans $147B Fixed Fixed with hedges Floating Floating with hedges Commentary 15% 15% 70% As of 6/30/26 (1) See pages 29-30 for notes. 23 $13.7 $6.9 $2.5 $2.0 $1.6 $1.3 $1.0 $0.3 $2.0 $3.4 $1.6 $1.3 $0.9 $0.8 $0.6 $— $10.4 $4.7 $3.3 $2.2 2Q23 4Q24 4Q25 1Q26 2Q26 3Q26 4Q26 4Q27 Non-Core portfolio update Non-Core Dedicated structural funding Indirect auto Auto collateralized borrowings As of period end; $s in billions See pages 29-30 for notes. Non-Core portfolio(1) progression Education and other retail (purchased) Non-Core portfolio has been reduced to ~$1.6 billion at 2Q26; expected to decline to ~$1.0 billion by year-end 2026 2026 quarterly progression 24 $77.3B Commercial credit portfolio(1) Commercial portfolio risk ratings(4) $s in billions 61% 64% 67% 17% 17% 16% 16% 13% 12% 6% 6% 5% 2Q25 1Q26 2Q26 B- and lower B+ to B BB+ to BB- AAA+ to BBB- $77.3 Highlights $74.6 $ Balances % of CFG C&I Finance and Insurance $ 20.3 14 % Capital call facilities $ 9.9 Private Credit Finance 4.9 Other Finance and Insurance 5.5 Other Manufacturing 3.6 2 Technology 3.4 2 Accommodation and Food Services 2.1 1 Health, Pharma, Social Assistance 2.4 2 Professional, Scientific, and Technical Services 2.8 2 Wholesale Trade 3.2 2 Retail Trade 1.7 1 Other Services 2.4 2 Energy & Related 1.9 1 Rental and Leasing 1.8 1 Consumer Products Manufacturing 0.6 1 Administrative and Waste Management Services 1.6 1 Arts, Entertainment, and Recreation 1.7 1 Automotive 1.2 1 Other (2) 2.8 2 Total C&I $ 53.5 36 % CRE Multi-family $ 8.6 6 % Office 4.1 2 Credit tenant lease and life sciences(3) $ 1.8 Other general office 2.3 Industrial 2.5 2 Retail 2.7 2 Co-op 1.7 1 Data Center 0.8 1 Hospitality 0.4 — Other (2) 3.0 2 Total CRE $ 23.8 16 % Total Commercial loans & leases $ 77.3 52 % Total CFG $ 147.5 Diverse and granular portfolio - Disciplined capital allocation and risk appetite – Highly experienced leadership team – Focused client selection - C&I portfolio has focused growth on larger, mid-corporate customers, thereby improving overall asset quality – ~85% of C&I portfolio is investment grade equivalent(5) - Leveraged loans ~1.3% of total CFG loans, granular hold positions with an average outstanding of ~$10 million - CRE portfolio is well diversified across asset type, geography, and borrowers with the emphasis on strong sponsor selection – CRE portfolio down $2.4 billion, or ~9% year-over-year, driven primarily by paydowns $71.6 See pages 29-30 for notes. $s in billions 25 High-quality, diversified Private Capital related portfolio Private Credit finance $4.9 $s in billions; as of 6/30/2026 $9.9B Capital call facilities $2.2B ABS finance - Senior loans to middle-market credit funds secured by pool of leveraged loans - Securitization structure and collateral diversification provides protection – Highly diversified by industry and single name exposure - Ability to remark loans based on certain triggers, reducing the effective advance rate against collateral - Monthly monitoring of collateral and quarterly analysis of financials of each obligor - Warehouse financing in securitization structure, secured by underlying collateral originated primarily by consumer and commercial finance companies as well as corporate borrowers - Highly selective customer base, generally with established ABS programs - Extensive due diligence of management, servicing and collections, credit performance, etc. - Highly granular nature of repayment and limit framework mitigates risk - Revolving lines to primarily closed-end funds with vast majority under 1-year maturity - Loans backed by uncalled capital commitments from limited partners (LPs); diversified across LPs in each fund – Advance rates in borrowing base determined by credit of LPs, predominately institutional/well- capitalized investors - ~75% Commercial Bank/~25% Private Bank $4.9B Private Credit finance $22B NDFI* ABS finance $8.6 $2.2 REITs Payment Processors Insurance Asset Managers Other $17B Private Capital related Capital call facilities $9.9 $17 billion Private Capital related lending ~7% of total CFG loans ~3% of total CFG loans ~2% of total CFG loans *Represents preliminary Non-depository Financial Institutions (NDFI) balance pending filing of the Call Report for June 30, 2026 $1.5 $0.6 $0.7 $0.6 $1.6 - Top industry team assembled over 10+ years - Strategic approach to cover and advise best-positioned Private Capital firms - Focus is on borrowers with multi-product relationship potential - Investment grade structures – Emphasis on senior, structurally protected financing – Excellent historical credit performance - Lending limits in place at facility, sponsor and product levels $5B other borrowers 26 46% 47% 48% 31% 31% 31% 14% 14% 13% 4% 3% 3%5% 5% 5% 2Q25 1Q26 2Q26 $36.4 $20.3 $1.5 $3.0 $5.0 $4.0 $70.2B Retail credit portfolio 800+ 740-799 680-739 640-679 <640 $70.2 $s in billions $69.1 Home equity Retail portfolio(1) Residential mortgage Auto Education - in school Education - refinance Other retail ~96% Super-prime/prime* ~83% Secured - Retail portfolio mix continues to improve with focus on high quality relationship lending - Core real estate secured increased to 81% of the portfolio as Non-Core reduced significantly from 19% in 2Q23** to 2% in 2Q26 – Mortgage: FICO ~790; weighted-average LTV of ~52% – Home equity: FICO ~765; ~29% secured by 1st lien - ~98% CLTV less than 80%; ~84% CLTV less than 70% - Core unsecured relatively stable at 17% of the portfolio; targeting super-prime/high-prime relationship borrowers – Education: FICO ~785 - In-school: ~97% co-signed - Refinance: ~35% advanced degrees – Other retail: consists primarily of Card and Citizens Pay; target high-quality borrowers; loss sharing in Citizens Pay High quality, diverse portfolio *Super-prime/prime defined as FICO of 680 or above at origination Retail portfolio FICOs(2) $67.7 Homeowners ~2/3 See pages 29-30 for notes. As of 6/30/26 62% 81% 19% 17%19% 2% 2Q23** 2Q26 Non-Core (Auto & other indirect lending) Core unsecured (Education, Other retail) Core real estate secured (Mortgage, Home equity) of unsecured retail borrowers(3) of retail portfolio > 680 Improving retail portfolio mix of retail portfolio **2Q23 represents the start of the Non-Core portfolio designation $70.2B$73.0B $s in billions To discuss: provide LTV stratification of 1st mortgages in light of B3E? 27 Allocation of allowance for credit losses by product type June 30, 2026 March 31, 2026 $s in millions Loans and Leases Allowance Coverage Loans and Leases Allowance Coverage Commercial and industrial(1) $ 53,467 $665 1.24 % $ 50,307 $720 1.43 % Commercial real estate 23,817 628 2.64 24,282 584 2.41 Total commercial 77,284 1,293 1.67 74,589 1,304 1.75 Residential mortgages 36,374 221 0.61 35,404 209 0.59 Home equity 20,276 159 0.78 19,449 159 0.81 Automobile 1,482 6 0.41 1,863 8 0.42 Education 8,044 259 3.22 8,340 253 3.03 Other retail 4,031 246 6.12 4,022 252 6.30 Total retail loans 70,207 891 1.27 69,078 881 1.27 Allowance for credit losses(2) $147,491 $2,184 1.48 % $143,667 $2,185 1.52 % See pages 29-30 for notes. 28 Delinquency by product type June 30, 2026 (%) March 31, 2026 (%) Days Past Due and Accruing Days Past Due and Accruing Current 30-59 60-89 90+ Nonaccrual Current 30-59 60-89 90+ Nonaccrual Commercial and industrial 99.47 % 0.04 % 0.02 % 0.01 % 0.46 % 99.37 % 0.24 % 0.02 % — % 0.37 % Commercial real estate 97.31 0.02 0.23 0.03 2.41 95.32 1.54 0.23 0.11 2.80 Total commercial 98.82 0.03 0.08 0.01 1.06 98.05 0.66 0.09 0.04 1.16 Residential mortgages(1) 98.63 0.20 0.10 0.47 0.60 98.58 0.20 0.10 0.51 0.61 Home equity 97.85 0.45 0.14 — 1.56 97.62 0.54 0.17 — 1.67 Automobile 94.80 2.77 1.01 — 1.42 95.33 2.63 0.81 — 1.23 Education 99.12 0.39 0.21 0.02 0.26 99.11 0.40 0.22 0.02 0.25 Other retail 97.99 0.62 0.42 — 0.97 97.61 0.77 0.50 — 1.12 Total retail 98.34 0.37 0.16 0.25 0.88 98.23 0.42 0.18 0.26 0.91 Total 98.60 % 0.19 % 0.12 % 0.12 % 0.97 % 98.14 % 0.55 % 0.13 % 0.14 % 1.04 % See pages 29-30 for notes. 29 Notes on Non-GAAP Financial Measures See important information on our use of Non-GAAP Financial Measures at the beginning of this presentation and reconciliations to GAAP financial measures at the end of this presentation. Allowance coverage ratios for loans and leases includes the allowance for funded loans and leases in the numerator and funded loans and leases in the denominator. Allowance coverage ratios for credit losses includes the allowance for funded loans and leases and allowance for unfunded lending commitments in the numerator and funded loans and leases in the denominator. General Notes a. References to net interest margin are on a fully taxable equivalent ("FTE") basis. b. Throughout this presentation, references to consolidated and/or commercial loans and loan growth include leases. Loans held for sale are also referred to as LHFS. c. Select totals may not sum due to rounding. d. Based on Basel III standardized approach. Capital Ratios are preliminary. e. Throughout this presentation, reference to balance sheet items are on an average basis and loans exclude held for sale unless otherwise noted. Notes Notes on slide 3 - 2Q26 Earnings highlights 1) See general note a). Notes on slide 4 - 2Q26 Overview 1) See general note d). 2) Represents Return on Regulatory Capital. See page 35 for details. Notes on slide 6 - Noninterest income 1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. Notes on slide 10 - Highly diversified and retail-oriented deposit base 1) Estimated based on available company disclosures; Citizens stable deposits calculated using average Consumer deposits excluding Private Bank and Private Wealth. 2) Includes branch-based checking with interest and savings. Notes on slide 12 - Allowance for credit losses 1) Allowance for credit losses to nonaccrual loans and leases. Notes on slide 13 - Strong capital position 1) See general note d). 2) See general note c). Notes on slide 14 - Private Bank buildout continues strong progress 1) Total Client Assets (TCA) include Assets Under Management (AUM) and Transactional Assets. AUM represent assets for which Citizens’ investment advisory affiliates provide continuous and regular supervisory or management services. Transaction assets represent assets for which Citizens' Wealth Management affiliates provide execution, custody, record keeping, reporting and other administrative services. 2) Assets Under Management referenced represents AUM of Citizens Private Wealth & Citizens Wealth Management, our Private Bank advisory affiliates. 3) Transactional assets referenced represents assets of Citizens Wealth Management, our Private Bank brokerage affiliate. Notes on slide 16 - Network Evolution and "Xperience" Transformation (NEXT) 1) Branch count excludes Private Bank offices. 2) Deposits per branch reflects Citizens’ legacy retail branch network excluding HSBC/ISBC and Private Bank balances. Notes on slide 17 - 3Q26 outlook vs. 2Q26 1) See general note d). Notes on slide 21 - 2Q26 Private Bank financial performance 1) Total Client Assets (TCA) include Assets Under Management (AUM) and Transactional Assets. AUM represents assets for which Citizens’ investment advisory affiliates provide continuous and regular supervisory or management services. Transaction assets represent assets for which Citizens' Wealth Management affiliates provide execution, custody, record keeping, reporting and other administrative services. 2) Assets Under Management referenced represent AUM of Citizens Private Wealth & Citizens Wealth Management, our Private Bank advisory affiliates. 3) Transactional assets referenced represent assets of Citizens Wealth Management, our Private Bank brokerage affiliate. 30 Notes continued Notes on slide 22 - Interest rate risk management 1) Represents fair value balances. Notes on slide 23 - Non-Core portfolio update 1) See general note c). Notes on slide 24 - $77.3B Commercial credit portfolio 1) See general note c). 2) Includes deferred fees and costs. 3) Credit tenant lease includes loans to nationally recognized tenants with high credit ratings and life sciences includes loans to provide lab and office space for tenants involved in the study and development of scientific discoveries. 4) Reflects period end balances. 5) Represents a rating agency bond-equivalent of Investment Grade based on internal risk ratings. Notes on slide 26 - $70.2B Retail credit portfolio 1) See general note c). 2) Reflects period end balances. 3) Estimated based on 2025 data. Source: Citizens Customer Intelligence Platform (CIP), Experian, Equifax, and Intercontinental Exchange. Notes on slide 27 - Allocation of allowance for credit losses by product type 1) Coverage ratio includes total commercial allowance for unfunded lending commitments and total commercial allowance for loan and lease losses in the numerator and total commercial loans and leases in the denominator. 2) Coverage ratio reflects total allowance for credit losses for the respective portfolio. Notes on slide 28 - Delinquency by product type 1) 90+ days past due and accruing includes $172 million, $179 million,and $128 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2026, March 31, 2026, and June 30, 2025, respectively. 31 Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data QUARTERLY TRENDS 2Q26 Change 2Q26 1Q26 2Q25 1Q26 2Q25 $/bps % $/bps % Pre-provision profit: Total revenue (GAAP) A $2,283 $2,168 $2,037 $115 5% $246 12% Noninterest expense (GAAP) B 1,394 1,378 1,319 16 1 75 6 Pre-provision profit (non-GAAP) $889 $790 $718 $99 13% $171 24% Return on average common equity and return on average tangible common equity: Net income available to common stockholders (GAAP) C $554 $484 $402 $70 14% $152 38% Average common equity (GAAP) D $23,839 $23,995 $22,494 ($156) (1%) $1,345 6% Less: Average goodwill (GAAP) 8,221 8,198 8,187 23 — 34 — Less: Average other intangibles (GAAP) 109 114 134 (5) (4) (25) (19) Add: Average deferred tax liabilities related to goodwill (GAAP) 438 437 438 1 — — — Average tangible common equity (non-GAAP) E $15,947 $16,120 $14,611 ($173) (1%) $1,336 9% Return on average common equity C/D 9.31 % 8.19% 7.18 % 112 bps 213 bps Return on average tangible common equity (non-GAAP) C/E 13.91 % 12.19% 11.05 % 172 bps 286 bps Return on average total assets and return on average total tangible assets: Net income (GAAP) F $587 $517 $436 $70 14% $151 35% Average total assets (GAAP) G $229,263 $224,224 $217,661 $5,039 2% $11,602 5% Less: Average goodwill (GAAP) $8,221 $8,198 $8,187 $23 —% $34 —% Less: Average other intangibles (GAAP) $109 $114 $134 ($5) (4%) ($25) (19%) Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) $438 $437 $438 $1 —% $— —% Average tangible assets (non-GAAP) H $221,371 $216,349 $209,778 $5,022 2% $11,593 6% Return on average total assets F/G 1.03 % 0.94% 0.80 % 9 bps 23 bps Return on average total tangible assets (non-GAAP) F/H 1.06 % 0.97% 0.83 % 9 bps 23 bps Book value per common share and tangible book value per common share: Common shares - at period-end (GAAP) I 422,677,660 426,023,578 432,768,811 (3,345,918) (1%) (10,091,151) (2%) Common stockholders' equity (GAAP) J $24,072 $24,061 $23,121 $11 — $951 4 Less: Goodwill (GAAP) 8,220 8,221 8,187 (1) — 33 — Less: Other intangible assets (GAAP) 105 112 128 (7) (6) (23) (18) Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) 438 437 440 1 — (2) — Tangible common equity (non-GAAP) K $16,185 $16,165 $15,246 $20 —% $939 6% Book value per common share (GAAP) J/I $56.95 $56.48 $53.43 $0.47 1% $3.52 7% Tangible book value per common share (non-GAAP) K/I $38.29 $37.94 $35.23 $0.35 1% $3.06 9% 32 Non-GAAP financial measures and reconciliations QUARTERLY TRENDS 2Q26 Change 2Q26 1Q26 2Q25 1Q26 2Q25 $/bps % $/bps % Common equity ratio and tangible common equity ratio: Total assets (GAAP) L $233,836 $227,918 $218,310 $5,918 3% $15,526 7% Less: Goodwill (GAAP) 8,220 8,221 8,187 (1) — 33 — Less: Other intangible assets (GAAP) 105 112 128 (7) (6) (23) (18) Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) 438 437 440 1 — (2) — Tangible assets (non-GAAP) M $225,949 $220,022 $210,435 $5,927 3% $15,514 7% Common equity ratio (GAAP) J/L 10.3 % 10.6 % 10.6 % (27) bps (30) bps Tangible common equity ratio (non-GAAP) K/M 7.2 7.3 7.2 (10) bps (4) bps Net interest income and net interest margin on an FTE basis: Net interest income (annualized) (GAAP) N $6,542 $6,337 $5,770 $205 3% $772 13% Average interest-earning assets (GAAP) O 206,770 201,929 196,318 4,841 2 10,452 5 Net interest margin (GAAP) N/O 3.16 % 3.14% 2.94% 2 bps 22 bps Net interest income (GAAP) $1,631 $1,562 $1,437 $69 4% $194 14% FTE adjustment 3 3 4 — — (1) (25) Net interest income on an FTE basis (non-GAAP) 1,634 1,565 1,441 69 4 193 13 Net interest income on an FTE basis (annualized) (non-GAAP) P 6,555 6,350 5,786 204 3 769 13 Net interest margin on an FTE basis (non-GAAP) P/O 3.17 % 3.14% 2.95% 3 bps 22 bps Total Retail loans excluding Private Bank and non-core - at period-end Total Retail loans - at period-end $70,207 $69,078 $67,662 $1,129 2% $2,545 4% Less: Non-core retail loans - at period-end 1,608 2,002 3,573 (394) (20) (1,965) (55) Less: Private bank retail loans - at period-end 3,408 2,685 1,496 723 27 1,912 128 Total Retail loans excluding Private Bank and non-core - at period-end $65,191 $64,391 $62,593 $800 1% $2,598 4% Total Commercial loans excluding Private Bank - at period-end Total Commercial loans - at period-end $77,284 $74,589 $71,642 $2,695 4% $5,642 8% Less: Private bank commercial loans - at period-end $6,282 $5,063 $3,395 $1,219 24 $2,887 85 Total Commercial loans excluding Private Bank - at period-end $71,002 $69,526 $68,247 $1,476 2% $2,755 4% $s in millions, except share, per share and ratio data 33 Financial measures and reconciliations - Efficiency ratio and Operating leverage $s in millions, except share, per share and ratio data QUARTERLY TRENDS 2Q26 Change 2Q26 1Q26 4Q25 3Q25 2Q25 1Q26 2Q25 $/bps % $/bps % Efficiency ratio and Operating leverage: Total revenue (GAAP) A $2,283 $2,168 $2,157 $2,118 $2,037 $115 5.25% $246 12.01% Noninterest expense (GAAP) B 1,394 1,378 $1,343 $1,335 1,319 16 1.15 75 5.64 Efficiency ratio B/A 61.1% 63.6% 62.2 % 63.0% 64.8% (247) bps (368) bps Operating leverage A-B 4.10% 6.37% 34 Non-GAAP financial measures and reconciliations - CET1 adjusted for AOCI opt-out removal QUARTERLY TRENDS 2Q26 1Q26 CET1 Ratio adjusted for AOCI opt-out removal CET1 capital $ 18,364 $ 18,178 Less: AFS securities - AOCI 1,103 1,027 HTM securities - AOCI(1) 628 657 DTA for AFS/HTM securities 31 35 Pension 244 245 DTA for Pension 4 3 CET 1 capital adjusted for AOCI opt-out removal A $16,354 $16,211 Risk-weighted assets 176,336 173,268 Less: HTM securities - AOCI 108 113 AFS securities - AOCI 181 167 DTA for AFS/HTM securities (1,385) (1,471) Pension 244 245 DTA for Pension (214) (216) Risk-weighted assets adjusted for AOCI opt-out removal B $177,402 $174,430 CET1 Ratio adjusted for AOCI opt-out removal A/B 9.2 % 9.3 % $s in millions, except share, per share and ratio data (1) "HTM securities - AOCI" refers to unrealized losses recognized on securities before transfer to HTM 35 Non-GAAP financial measures and reconciliations - Private Bank Return on Regulatory Capital $s in millions, except share, per share and ratio data 2Q26 2026 YTD Net income available to common stockholders: Private Bank Net income available to common stockholders, (GAAP) A $62 $111 Regulatory Capital: Private Bank Average Risk Weighted Assets (1) B $8,287 $7,923 CFG Capital Allocation Rate (2) C 10.0 % 10.0 % Private Bank Regulatory Capital D=B*C $829 $792 Private Bank Return on Regulatory Capital A/D 30 % 28 % (1) RWA is based on the Basel III standardized approach. (2) Capital allocation rate is management-defined for internal performance evaluation. It is not based on GAAP. --- ## EX-99.3 SEC source: [q226financialsupplement.htm](https://www.sec.gov/Archives/edgar/data/759944/000075994426000133/q226financialsupplement.htm) Financial Supplement Second Quarter 2026 | Table of Contents | Page | | --- | --- | | 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 | 9 | | Segment Financial Highlights | 10 | | Credit-Related Information: | | | Nonaccrual loans and leases | 13 | | Loans and Leases 90 Days or More Past Due and Accruing | 14 | | Charge-offs, Recoveries, and Related Ratios | 15 | | Summary of Changes in the Components of the Allowance for Credit Losses | 17 | | Capital and Ratios | 18 | | Non-GAAP Financial Measures and Reconciliations | 19 | | 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. | | **CONSOLIDATED FINANCIAL HIGHLIGHTS** _(dollars in millions, except per share data)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | | 2026 Change | | | 2Q26 | 2025 | | | | $/bps | | SELECTED OPERATING DATA | | | | Total revenue | $2,283%% | $479% | | Noninterest expense | 1,394 | 139 | | Pre-provision profit¹ | 889 | 340 | | Provision (benefit) for credit losses | 134 | (43) | | NET INCOME | 587 | 295 | | Net income available to common stockholders | 554 | 296 | | PER COMMON SHARE DATA | | | | Basic earnings | $1.31%% | $0.75% | | Diluted earnings | 1.30 | 0.73 | | Cash dividends declared and paid per common share | 0.46 | 0.08 | | Book value per common share | 56.95 | 3.52 | | Tangible book value per common share¹ | 38.29 | 3.06 | | Dividend payout ratio | 35%%%%% | (1,186)%% | | COMMON SHARES OUTSTANDING | | | | Average: Basic | 422,871,137%)%) | (11,866,572)%) | | Diluted | 426,681,848 | (11,068,625) | | Common shares at period-end | 422,677,660 | (10,091,151) | | FINANCIAL RATIOS | | | | Net interest margin | 3.16%%%%% | 24%% | | Net interest margin, FTE1,2 | 3.17 | 24 | | Return on average common equity | 9.31 | 205 | | Return on average tangible common equity¹ | 13.91 | 270 | | Return on average total assets | 1.03 | 23 | | Return on average total tangible assets¹ | 1.06 | 24 | | Effective income tax rate | 22.29 | 58 | | Efficiency ratio | 61.08 | (401) | | Noninterest income as a % of total revenue | 28.54 | (54) | | Operating leverage: | | | | Total revenue | $2,283%% | $479% | | Less: Noninterest expense | 1,394 | 139 | | Operating leverage | | | | CAPITAL RATIOS - PERIOD-END (PRELIMINARY) | | | | CET1 capital ratio | 10.4%%%%% | | | Tier 1 capital ratio | 11.6 | | | Total capital ratio | 13.6 | | | Tier 1 leverage ratio | 9.2 | | | Common equity ratio | 10.3 | | | Tangible common equity ratio¹ | 7.2 | | | SELECTED BALANCE SHEET DATA | | | | Loan-to-deposit ratio (period-end balances) | 79.46%%%%% | (10)%% | | Loan-to-deposit ratio (average balances) | 79.58 | (96) | | Full-time equivalent colleagues (period-end) | 17,727%% | 50% | 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. ### CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | % | % | | INTEREST INCOME | | | | Interest and fees on loans and leases | 6%% | 5% | | Interest and fees on loans held for sale | (28) | (10) | | Investment securities | 4 | 3 | | Interest-bearing deposits in banks | 12 | 7 | | Total interest income | 6 | 4 | | INTEREST EXPENSE | | | | Deposits | (7) | (8) | | Short-term borrowed funds | — | (24) | | Long-term borrowed funds | (2) | (7) | | Total interest expense | (6) | (8) | | Net interest income | 14 | 13 | | NONINTEREST INCOME | | | | Service charges and fees | 5 | 4 | | Capital markets fees | 46 | 40 | | Wealth fees | 16 | 20 | | Card fees | (1) | (1) | | Mortgage banking fees | (42) | (36) | | Foreign exchange and derivative products | 15 | 14 | | Letter of credit and loan fees | 16 | 15 | | Securities gains, net | 20 | 8 | | Other income | 5 | 22 | | Total noninterest income | 9 | 10 | | TOTAL REVENUE | 12 | 12 | | Provision (benefit) for credit losses | (18) | (14) | | NONINTEREST EXPENSE | | | | Salaries and employee benefits | 9 | 9 | | Equipment and software | 1 | 1 | | Outside services | 3 | 4 | | Occupancy | — | 1 | | Other operating expense | 2 | (2) | | Total noninterest expense | 6 | 5 | | Income before income tax expense | 36 | 37 | | Income tax expense | 42 | 41 | | Net income | 35%% | 36% | | Net income available to common stockholders | 38%% | 40% | ### CONSOLIDATED BALANCE SHEETS (unaudited) _(dollars in millions, except par value)_ | PERIOD-END BALANCES | AS OF / June 30, 2026 | AS OF / Mar 31, 2026 | AS OF / Dec 31, 2025 | AS OF / Sept 30, 2025 | AS OF / June 30, 2025 | JUNE 30, 2026 CHANGE / March 31, 2026 / % | JUNE 30, 2026 CHANGE / June 30, 2025 / % | | --- | --- | --- | --- | --- | --- | --- | --- | | ASSETS | | | | | | | | | Cash and due from banks | $1,219 | $1,084 | $1,464 | $1,254 | $1,107 | 12% | 10% | | Interest-bearing cash and due from banks | 11,541 | 11,246 | 11,263 | 10,396 | 7,441 | 3 | 55 | | Interest-bearing deposits in banks | 1,107 | 830 | 961 | 694 | 680 | 33 | 63 | | Debt securities available for sale, at fair value | 37,448 | 36,361 | 35,697 | 35,419 | 34,658 | 3 | 8 | | Debt securities held to maturity | 7,638 | 7,800 | 7,933 | 8,124 | 8,293 | (2) | (8) | | Loans held for sale | 1,458 | 1,537 | 1,198 | 1,334 | 2,093 | (5) | (30) | | Loans and leases | 147,491 | 143,667 | 142,692 | 140,870 | 139,304 | 3 | 6 | | Less: Allowance for loan and lease losses | (1,969) | (1,958) | (1,943) | (1,972) | (2,008) | 1 | (2) | | Net loans and leases | 145,522 | 141,709 | 140,749 | 138,898 | 137,296 | 3 | 6 | | Premises and equipment | 873 | 874 | 915 | 857 | 855 | — | 2 | | Bank-owned life insurance | 3,470 | 3,464 | 3,441 | 3,422 | 3,408 | — | 2 | | Goodwill | 8,220 | 8,221 | 8,187 | 8,187 | 8,187 | — | — | | Other intangible assets | 105 | 112 | 115 | 123 | 129 | (6) | (19) | | Other assets | 15,235 | 14,680 | 14,428 | 14,039 | 14,163 | 4 | 8 | | TOTAL ASSETS | $233,836 | $227,918 | $226,351 | $222,747 | $218,310 | 3% | 7% | | LIABILITIES AND STOCKHOLDERS' EQUITY | | | | | | | | | LIABILITIES | | | | | | | | | Deposits: | | | | | | | | | Noninterest-bearing | $40,939 | $41,672 | $40,417 | $39,472 | $38,001 | (2%) | 8% | | Interest-bearing | 144,681 | 142,363 | 142,896 | 140,539 | 137,085 | 2 | 6 | | Total deposits | 185,620 | 184,035 | 183,313 | 180,011 | 175,086 | 1 | 6 | | Short-term borrowed funds | 1,159 | 54 | 58 | 214 | 249 | NM | NM | | Long-term borrowed funds: | | | | | | | | | FHLB advances | 5,763 | 2,513 | 2,014 | 14 | 1,542 | 129 | NM | | Senior debt | 7,078 | 7,076 | 6,328 | 6,825 | 6,821 | — | 4 | | Subordinated debt and other debt | 2,349 | 2,671 | 2,882 | 3,602 | 4,163 | (12) | (44) | | Total long-term borrowed funds | 15,190 | 12,260 | 11,224 | 10,441 | 12,526 | 24 | 21 | | Other liabilities | 5,684 | 5,397 | 5,439 | 6,252 | 5,215 | 5 | 9 | | TOTAL LIABILITIES | 207,653 | 201,746 | 200,034 | 196,918 | 193,076 | 3 | 8 | | 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 | 2,111 | 2,113 | — | — | | 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 | 22,521 | 22,466 | 22,476 | 22,448 | 22,420 | — | — | | Retained earnings | 11,987 | 11,631 | 11,345 | 11,056 | 10,783 | 3 | 11 | | Treasury stock, at cost | (8,182) | (7,955) | (7,652) | (7,526) | (7,450) | (3) | (10) | | Accumulated other comprehensive income (loss) | (2,261) | (2,088) | (1,970) | (2,267) | (2,639) | (8) | 14 | | TOTAL STOCKHOLDERS' EQUITY | 26,183 | 26,172 | 26,317 | 25,829 | 25,234 | — | 4 | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $233,836 | $227,918 | $226,351 | $222,747 | $218,310 | 3% | 7% | | Memo: Total tangible common equity¹ | $16,185 | $16,165 | $16,341 | $15,848 | $15,246 | — | 6% | ¹ 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)_ | PERIOD-END BALANCES | AS OF / June 30, 2026 | AS OF / Mar 31, 2026 | AS OF / Dec 31, 2025 | AS OF / Sept 30, 2025 | AS OF / June 30, 2025 | JUNE 30, 2026 CHANGE / Mar 31, 2026 / % | JUNE 30, 2026 CHANGE / June 30, 2025 / % | | --- | --- | --- | --- | --- | --- | --- | --- | | LOANS AND LEASES | | | | | | | | | Commercial and industrial | $53,467 | $50,307 | $49,232 | $46,953 | $45,412 | 6% | 18% | | Commercial real estate | 23,817 | 24,282 | 24,580 | 25,540 | 26,230 | (2) | (9) | | Total commercial | 77,284 | 74,589 | 73,812 | 72,493 | 71,642 | 4 | 8 | | Residential mortgages | 36,374 | 35,404 | 35,024 | 34,477 | 33,823 | 3 | 8 | | Home equity | 20,276 | 19,449 | 19,069 | 18,415 | 17,711 | 4 | 14 | | Automobile | 1,482 | 1,863 | 2,310 | 2,816 | 3,407 | (20) | (57) | | Education | 8,044 | 8,340 | 8,416 | 8,556 | 8,550 | (4) | (6) | | Other retail | 4,031 | 4,022 | 4,061 | 4,113 | 4,171 | — | (3) | | Total retail | 70,207 | 69,078 | 68,880 | 68,377 | 67,662 | 2 | 4 | | Total loans and leases | $147,491 | $143,667 | $142,692 | $140,870 | $139,304 | 3% | 6% | | Loans held for sale | 1,458 | 1,537 | 1,198 | 1,334 | 2,093 | (5) | (30) | | Loans and leases and loans held for sale | $148,949 | $145,204 | $143,890 | $142,204 | $141,397 | 3% | 5% | | DEPOSITS | | | | | | | | | Noninterest-bearing demand | $40,939 | $41,672 | $40,417 | $39,472 | $38,001 | (2%) | 8% | | Checking with interest | 40,258 | 37,675 | 37,428 | 35,219 | 34,918 | 7 | 15 | | Savings | 23,570 | 24,114 | 24,353 | 24,759 | 25,400 | (2) | (7) | | Money market | 60,029 | 59,611 | 60,062 | 59,709 | 55,638 | 1 | 8 | | Time | 20,824 | 20,963 | 21,053 | 20,852 | 21,129 | (1) | (1) | | Total deposits | $185,620 | $184,035 | $183,313 | $180,011 | $175,086 | 1% | 6% | | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | QUARTERLY TRENDS | | | | | | | | | 2Q26 Change | | | | | | | | 2Q26 | | | 1Q26 | | | 2Q25 | | | 1Q26 | | | 2Q25 | | | | | Average Balance | Interest | Rate | Average Balance | Interest | Rate | Average Balance | Interest | Rate | Average Balance | Interest | Rate | Average Balance | Interest | Rate | | INTEREST-EARNING ASSETS | | | | | | | | | | | | | | | | | Interest-bearing cash and due from banks and deposits in banks | $10,839 | $103 | 3.78% | $10,079 | $91 | 3.60% | $8,217 | $92 | 4.40% | $760 | $12 | 18 bps | $2,622 | $11 | (62) bps | | Taxable investment securities | 48,087 | 446 | 3.71 | 46,928 | 424 | 3.62 | 46,537 | 428 | 3.69 | 1,159 | 22 | 9 | 1,550 | 18 | 2 | | Non-taxable investment securities | 1 | — | 2.60 | 1 | — | 2.60 | 1 | — | 2.60 | — | — | — | — | — | — | | Total investment securities | 48,088 | 446 | 3.71 | 46,929 | 424 | 3.62 | 46,538 | 428 | 3.69 | 1,159 | 22 | 9 | 1,550 | 18 | 2 | | Commercial and industrial | 52,214 | 707 | 5.35 | 50,140 | 644 | 5.14 | 44,936 | 549 | 4.84 | 2,074 | 63 | 21 | 7,278 | 158 | 51 | | Commercial real estate | 24,334 | 333 | 5.41 | 24,401 | 328 | 5.38 | 26,487 | 384 | 5.73 | (67) | 5 | 3 | (2,153) | (51) | (32) | | Total commercial | 76,548 | 1,040 | 5.37 | 74,541 | 972 | 5.22 | 71,423 | 933 | 5.17 | 2,007 | 68 | 15 | 5,125 | 107 | 20 | | Residential mortgages | 35,793 | 367 | 4.09 | 35,090 | 353 | 4.03 | 33,420 | 327 | 3.92 | 703 | 14 | 6 | 2,373 | 40 | 17 | | Home equity | 19,876 | 319 | 6.43 | 19,230 | 307 | 6.47 | 17,324 | 308 | 7.14 | 646 | 12 | (4) | 2,552 | 11 | (71) | | Automobile | 1,667 | 20 | 4.78 | 2,090 | 24 | 4.68 | 3,705 | 41 | 4.41 | (423) | (4) | 10 | (2,038) | (21) | 37 | | Education | 8,183 | 124 | 6.11 | 8,442 | 127 | 6.08 | 8,660 | 128 | 5.94 | (259) | (3) | 3 | (477) | (4) | 17 | | Other retail | 4,061 | 98 | 9.67 | 4,017 | 101 | 10.22 | 4,277 | 114 | 10.66 | 44 | (3) | (55) | (216) | (16) | (99) | | Total retail | 69,580 | 928 | 5.34 | 68,869 | 912 | 5.34 | 67,386 | 918 | 5.46 | 711 | 16 | — | 2,194 | 10 | (12) | | Total loans and leases | 146,128 | 1,968 | 5.36 | 143,410 | 1,884 | 5.28 | 138,809 | 1,851 | 5.31 | 2,718 | 84 | 8 | 7,319 | 117 | 5 | | Loans held for sale | 1,715 | 26 | 6.04 | 1,511 | 21 | 5.65 | 2,754 | 36 | 5.29 | 204 | 5 | 39 | (1,039) | (10) | 75 | | Total interest-earning assets | 206,770 | 2,543 | 4.90 | 201,929 | 2,420 | 4.81 | 196,318 | 2,407 | 4.89 | 4,841 | 123 | 9 | 10,452 | 136 | 1 | | Noninterest-earning assets | 22,493 | | | 22,295 | | | 21,343 | | | 198 | | | 1,150 | | | | TOTAL ASSETS | $229,263 | | | $224,224 | | | $217,661 | | | $5,039 | | | $11,602 | | | | INTEREST-BEARING LIABILITIES | | | | | | | | | | | | | | | | | Checking with interest | $38,632 | $132 | 1.38% | $37,027 | $122 | 1.33% | $33,847 | $123 | 1.46% | $1,605 | $10 | 5 | $4,785 | $9 | (8) | | Savings | 23,780 | 64 | 1.06 | 24,095 | 65 | 1.10 | 25,536 | 85 | 1.34 | (315) | (1) | (4) | (1,756) | (21) | (28) | | Money market | 60,295 | 374 | 2.49 | 60,141 | 350 | 2.36 | 54,716 | 376 | 2.75 | 154 | 24 | 13 | 5,579 | (2) | (26) | | Time | 21,032 | 177 | 3.39 | 20,766 | 178 | 3.46 | 22,679 | 218 | 3.85 | 266 | (1) | (7) | (1,647) | (41) | (46) | | Total interest-bearing deposits | 143,739 | 747 | 2.08 | 142,029 | 715 | 2.04 | 136,778 | 802 | 2.35 | 1,710 | 32 | 4 | 6,961 | (55) | (27) | | Short-term borrowed funds | 989 | 9 | 3.43 | 454 | 4 | 3.74 | 925 | 9 | 3.96 | 535 | 5 | (31) | 64 | — | (53) | | FHLB advances | 3,538 | 35 | 3.94 | 1,408 | 14 | 4.02 | 1,063 | 12 | 4.64 | 2,130 | 21 | (8) | 2,475 | 23 | (70) | | Senior debt | 7,078 | 89 | 5.01 | 6,843 | 86 | 5.04 | 7,042 | 90 | 5.07 | 235 | 3 | (3) | 36 | (1) | (6) | | Subordinated debt and other debt | 2,496 | 32 | 5.09 | 2,824 | 39 | 5.50 | 4,394 | 57 | 5.18 | (328) | (7) | (41) | (1,898) | (25) | (9) | | Total long-term borrowed funds | 13,112 | 156 | 4.74 | 11,075 | 139 | 5.03 | 12,499 | 159 | 5.07 | 2,037 | 17 | (29) | 613 | (3) | (33) | | Total borrowed funds | 14,101 | 165 | 4.65 | 11,529 | 143 | 4.98 | 13,424 | 168 | 5.00 | 2,572 | 22 | (33) | 677 | (3) | (35) | | Total interest-bearing liabilities | 157,840 | 912 | 2.31 | 153,558 | 858 | 2.26 | 150,202 | 970 | 2.59 | 4,282 | 54 | 5 | 7,638 | (58) | (28) | | Noninterest-bearing demand deposits | 39,881 | | | 39,286 | | | 37,350 | | | 595 | | | 2,531 | | | | Other noninterest-bearing liabilities | 5,592 | | | 5,274 | | | 5,503 | | | 318 | | | 89 | | | | TOTAL LIABILITIES | 203,313 | | | 198,118 | | | 193,055 | | | 5,195 | | | 10,258 | | | | STOCKHOLDERS' EQUITY | 25,950 | | | 26,106 | | | 24,606 | | | (156) | | | 1,344 | | | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $229,263 | | | $224,224 | | | $217,661 | | | $5,039 | | | $11,602 | | | | INTEREST RATE SPREAD | | | 2.59% | | | 2.55% | | | 2.30% | | | 4 | | | 29 | | NET INTEREST INCOME AND NET INTEREST MARGIN | | $1,631 | 3.16% | | $1,562 | 3.14% | | $1,437 | 2.94% | | $69 | 2 | | $194 | 22 | | NET INTEREST INCOME AND NET INTEREST MARGIN, FTE¹ | | $1,634 | 3.17% | | $1,565 | 3.14% | | $1,441 | 2.95% | | $69 | 3 | | $193 | 22 | | Memo: Total deposits (interest-bearing and noninterest-bearing demand) | $183,620 | $747 | 1.63% | $181,315 | $715 | 1.60% | $174,128 | $802 | 1.85% | $2,305 | $32 | 3 bps | $9,492 | ($55) | (22) bps | ¹ 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." | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES / (dollars in millions) | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | FOR THE SIX MONTHS ENDED JUNE 30, | | | | | | 2026 Change | | | | | | 2026 | | | 2025 | | | 2025 | | | | | | Average Balance | Interest | Rate | Average Balance | Interest | Rate | Average Balance | Interest | Rate | | | INTEREST-EARNING ASSETS | | | | | | | | | | | | Interest-bearing cash and due from banks and deposits in banks | $10,461 | $194 | 3.69% | $8,155 | $181 | 4.41% | $2,306 | $13 | (72) | bps | | Taxable investment securities | 47,511 | 870 | 3.67 | 46,304 | 846 | 3.66 | 1,207 | 24 | 1 | | | Non-taxable investment securities | 1 | — | 2.60 | 1 | — | 2.60 | — | — | — | | | Total investment securities | 47,512 | 870 | 3.67 | 46,305 | 846 | 3.66 | 1,207 | 24 | 1 | | | Commercial and industrial | 51,183 | 1,351 | 5.25 | 44,271 | 1,064 | 4.78 | 6,912 | 287 | 47 | | | Commercial real estate | 24,367 | 661 | 5.39 | 26,749 | 771 | 5.73 | (2,382) | (110) | (34) | | | Total commercial | 75,550 | 2,012 | 5.30 | 71,020 | 1,835 | 5.14 | 4,530 | 177 | 16 | | | Residential mortgages | 35,442 | 720 | 4.06 | 33,147 | 645 | 3.89 | 2,295 | 75 | 17 | | | Home equity | 19,555 | 626 | 6.45 | 16,988 | 601 | 7.14 | 2,567 | 25 | (69) | | | Automobile | 1,878 | 44 | 4.73 | 4,047 | 88 | 4.40 | (2,169) | (44) | 33 | | | Education | 8,312 | 251 | 6.09 | 9,670 | 276 | 5.76 | (1,358) | (25) | 33 | | | Other retail | 4,039 | 199 | 9.94 | 4,385 | 235 | 10.79 | (346) | (36) | (85) | | | Total retail | 69,226 | 1,840 | 5.34 | 68,237 | 1,845 | 5.44 | 989 | (5) | (10) | | | Total loans and leases | 144,776 | 3,852 | 5.32 | 139,257 | 3,680 | 5.29 | 5,519 | 172 | 3 | | | Loans held for sale | 1,613 | 47 | 5.85 | 1,975 | 52 | 5.30 | (362) | (5) | 55 | | | Total interest-earning assets | 204,362 | 4,963 | 4.85 | 195,692 | 4,759 | 4.86 | 8,670 | 204 | (1) | | | Noninterest-earning assets | 22,395 | | | 21,297 | | | 1,098 | | | | | TOTAL ASSETS | $226,757 | | | $216,989 | | | $9,768 | | | | | INTEREST-BEARING LIABILITIES | | | | | | | | | | | | Checking with interest | $37,834 | $254 | 1.36% | $33,273 | $233 | 1.41% | $4,561 | $21 | (5) | | | Savings | 23,937 | 129 | 1.08 | 25,647 | 174 | 1.37 | (1,710) | (45) | (29) | | | Money market | 60,218 | 724 | 2.43 | 54,575 | 733 | 2.71 | 5,643 | (9) | (28) | | | Time | 20,900 | 355 | 3.42 | 22,977 | 457 | 4.01 | (2,077) | (102) | (59) | | | Total interest-bearing deposits | 142,889 | 1,462 | 2.06 | 136,472 | 1,597 | 2.36 | 6,417 | (135) | (30) | | | Short-term borrowed funds | 723 | 13 | 3.53 | 800 | 17 | 4.20 | (77) | (4) | (67) | | | FHLB advances | 2,479 | 49 | 3.96 | 831 | 19 | 4.62 | 1,648 | 30 | (66) | | | Senior debt | 6,961 | 175 | 5.03 | 7,087 | 176 | 4.96 | (126) | (1) | 7 | | | Subordinated debt and other debt | 2,659 | 71 | 5.31 | 4,660 | 122 | 5.24 | (2,001) | (51) | 7 | | | Total long-term borrowed funds | 12,099 | 295 | 4.87 | 12,578 | 317 | 5.04 | (479) | (22) | (17) | | | Total borrowed funds | 12,822 | 308 | 4.80 | 13,378 | 334 | 4.99 | (556) | (26) | (19) | | | Total interest-bearing liabilities | 155,711 | 1,770 | 2.29 | 149,850 | 1,931 | 2.59 | 5,861 | (161) | (30) | | | Noninterest-bearing demand deposits | 39,585 | | | 36,948 | | | 2,637 | | | | | Other noninterest-bearing liabilities | 5,433 | | | 5,736 | | | (303) | | | | | TOTAL LIABILITIES | 200,729 | | | 192,534 | | | 8,195 | | | | | STOCKHOLDERS' EQUITY | 26,028 | | | 24,455 | | | 1,573 | | | | | TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $226,757 | | | $216,989 | | | $9,768 | | | | | INTEREST RATE SPREAD | | | 2.56% | | | 2.27% | | | 29 | | | NET INTEREST INCOME AND NET INTEREST MARGIN | | $3,193 | 3.15% | | $2,828 | 2.91% | | $365 | 24 | | | NET INTEREST INCOME AND NET INTEREST MARGIN, FTE¹ | | $3,199 | 3.16% | | $2,836 | 2.92% | | $363 | 24 | | | Memo: Total deposits (interest-bearing and noninterest-bearing demand) | $182,474 | $1,462 | 1.62% | $173,420 | $1,597 | 1.86% | $9,054 | ($135) | (24) | bps | ¹ 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)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $/bps | $/bps | | MORTGAGE BANKING FEES | | | | Production revenue | ($4)%)%) | $2% | | Mortgage servicing revenue | 2 | (6) | | MSR valuation changes, net of hedge impact | (29) | (44) | | Total mortgage banking fees | ($31)%%) | ($48)%) | | Pull-through adjusted locks | $132%% | $319% | | Production revenue as a percentage of Pull-through adjusted locks | bps | (2)%% | | RESIDENTIAL REAL ESTATE ORIGINATIONS | | | | Retail | $468%% | $968% | | Third Party | 163 | 543 | | Total | $631%% | $1,511% | | Originated for sale | $190%% | $689% | | Originated for investment | 441 | 822 | | Total | $631%% | $1,511% | | MORTGAGE SERVICING INFORMATION (UPB) | | | | Loans serviced for others | ($833)%%) | ($833)%) | | Owned loans serviced | 2,691 | 2,691 | | Total | $1,858%% | $1,858% | | MSR at fair value | $56%% | $56% | **SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING** _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | CONSUMER BANKING | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $/bps | $/bps | | Net interest income | $130%% | $246% | | Noninterest income | (15) | (13) | | Total revenue | 115 | 233 | | Noninterest expense | 53 | 127 | | Profit (loss) before credit losses | 62 | 106 | | Net charge-offs | (9) | (24) | | Income (loss) before income tax expense (benefit) | 71 | 130 | | Income tax expense (benefit) | 21 | 38 | | Net income (loss) | $50%% | $92% | | AVERAGE BALANCES | | | | Total assets | $6,480%% | $6,408% | | Total loans and leases¹ | 6,148 | 6,092 | | Deposits | 9,451 | 8,430 | | Interest-earning assets | 6,175 | 6,118 | | KEY METRICS | | | | Net interest margin | 14%%%%% | 11%% | | Efficiency ratio | (110) | (62) | | Loan-to-deposit ratio (period-end balances) | 83 | 83 | | Loan-to-deposit ratio (average balances) | 58 | 95 | ¹ Includes loans held for sale. **SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING** _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | COMMERCIAL BANKING | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $/bps | $/bps | | Net interest income | $28%% | $43% | | Noninterest income | 60 | 108 | | Total revenue | 88 | 151 | | Noninterest expense | 9 | 16 | | Profit (loss) before credit losses | 79 | 135 | | Net charge-offs | (21) | (34) | | Income (loss) before income tax expense (benefit) | 100 | 169 | | Income tax expense (benefit) | 26 | 48 | | Net income (loss) | $74%% | $121% | | AVERAGE BALANCES | | | | Total assets | $3,330%% | $2,854% | | Total loans and leases¹ | 3,364 | 2,753 | | Deposits | 1,583 | 2,376 | | Interest-earning assets | 3,435 | 2,884 | | KEY METRICS | | | | Net interest margin | — | — | | Efficiency ratio | (476) | (396) | | Loan-to-deposit ratio (period-end balances) | 308 | 308 | | Loan-to-deposit ratio (average balances) | 185 | (222) | ¹ Includes loans held for sale. **SEGMENT FINANCIAL HIGHLIGHTS - OTHER** _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | OTHER¹ | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | % | % | | Net interest income | 16%% | 16% | | Noninterest income | 18 | 27 | | Total revenue | 24 | 24 | | Noninterest expense | 33 | (6) | | Profit (loss) before provision (benefit) for credit losses | 14 | 21 | | Provision (benefit) for credit losses | — | NM | | Income (loss) before income tax expense (benefit) | 14 | 19 | | Income tax expense (benefit) | 4 | 1 | | Net income (loss) | 18%)% | 27% | | AVERAGE BALANCES | | | | Total assets | 2%% | 1% | | Total loans and leases² | (53) | (55) | | Deposits | (35) | (38) | | Interest-earning assets | 1 | (1) | 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. **CREDIT-RELATED INFORMATION** _(dollars in millions)_ | Line item | AS OF / June 30, 2026 | AS OF / Mar 31, 2026 | AS OF / Dec 31, 2025 | AS OF / Sept 30, 2025 | AS OF / June 30, 2025 | JUNE 30, 2026 CHANGE / Mar 31, 2026 / $/bps/% | JUNE 30, 2026 CHANGE / June 30, 2025 / $/bps/% | | --- | --- | --- | --- | --- | --- | --- | --- | | NONACCRUAL LOANS AND LEASES | | | | | | | | | Commercial and industrial | $244 | $188 | $277 | $230 | $233 | $56% | $11% | | Commercial real estate | 574 | 679 | 618 | 703 | 706 | (105) | (132) | | Total commercial | 818 | 867 | 895 | 933 | 939 | (49) | (121) | | Residential mortgages¹ | 220 | 217 | 196 | 188 | 198 | 3 | 22 | | Home equity | 316 | 324 | 319 | 297 | 282 | (8) | 34 | | Automobile | 21 | 23 | 28 | 31 | 34 | (2) | (13) | | Education | 21 | 21 | 20 | 20 | 19 | — | 2 | | Other retail | 39 | 45 | 46 | 49 | 52 | (6) | (13) | | Total retail | 617 | 630 | 609 | 585 | 585 | (13) | 32 | | Total nonaccrual loans and leases | 1,435 | 1,497 | 1,504 | 1,518 | 1,524 | (62) | (89) | | ASSET QUALITY RATIOS | | | | | | | | | Allowance for loan and lease losses to loans and leases | 1.33% | 1.36% | 1.36% | 1.40% | 1.44% | (3) | (11) | | Allowance for credit losses to loans and leases | 1.48 | 1.52 | 1.53 | 1.56 | 1.59 | (4) | (11) | | Allowance for loan and lease losses to nonaccrual loans and leases | 137 | 131 | 129 | 130 | 132 | 6% | 5% | | Allowance for credit losses to nonaccrual loans and leases | 152 | 146 | 145 | 145 | 145 | 6% | 7% | | Nonaccrual loans and leases to loans and leases | 0.97 | 1.04 | 1.05 | 1.08 | 1.09 | (7) | (12) | ¹ Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing. **CREDIT-RELATED INFORMATION, CONTINUED** _(dollars in millions)_ | Line item | AS OF / June 30, 2026 | AS OF / Mar 31, 2026 | AS OF / Dec 31, 2025 | AS OF / Sept 30, 2025 | AS OF / June 30, 2025 | JUNE 30, 2026 CHANGE / Mar 31, 2026 / % | JUNE 30, 2026 CHANGE / June 30, 2025 / % | | --- | --- | --- | --- | --- | --- | --- | --- | | LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING | | | | | | | | | Commercial and industrial | $3 | $1 | $5 | $39 | $3 | 200% | — | | Commercial real estate | 6 | 26 | 20 | 7 | 60 | (77) | (90) | | Total commercial | 9 | 27 | 25 | 46 | 63 | (67) | (86) | | Residential mortgages¹ | 172 | 179 | 141 | 114 | 128 | (4) | 34 | | Home equity | — | — | 1 | — | — | — | — | | Automobile | — | — | — | — | — | — | — | | Education | 2 | 2 | 2 | 2 | 2 | — | — | | Other retail | — | — | — | — | 1 | — | (100) | | Total retail | 174 | 181 | 144 | 116 | 131 | (4) | 33 | | Total loans and leases | $183 | $208 | $169 | $162 | $194 | (12%) | (6%) | ¹ 90+ days past due and accruing includes $172 million, $179 million, $141 million, $114 million, and $128 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively. **CREDIT-RELATED INFORMATION, CONTINUED** _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | % | % | | CHARGE-OFFS, RECOVERIES AND RELATED RATIOS | | | | GROSS CHARGE-OFFS | | | | Commercial and industrial | 31%% | 38% | | Commercial real estate | (54) | (37) | | Total commercial | (18) | (6) | | Residential mortgages | 100 | 100 | | Home equity | 25 | 22 | | Automobile | (43) | (50) | | Education | — | (41) | | Other retail | (22) | (21) | | Total retail | (17) | (29) | | Total gross charge-offs | (17%)%) | (20%) | | GROSS RECOVERIES | | | | Commercial and industrial | 100%)% | NM | | Commercial real estate | 200 | NM | | Total commercial | NM | NM | | Residential mortgages | 100 | NM | | Home equity | (17) | (18) | | Automobile | (36) | (39) | | Education | (25) | (8) | | Other retail | (13) | (7) | | Total retail | (21) | (16) | | Total gross recoveries | (9%)%) | 12% | | NET CHARGE-OFFS (RECOVERIES) | | | | Commercial and industrial | 26%% | 22% | | Commercial real estate | (58) | (42) | | Total commercial | (23) | (17) | | Residential mortgages | — | — | | Home equity | 100 | NM | | Automobile | (67) | (73) | | Education | 11 | (48) | | Other retail | (23) | (22) | | Total retail | (15) | (34) | | Total net charge-offs | (19%)%) | (26%) | **CREDIT-RELATED INFORMATION, CONTINUED** _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $/bps | $/bps | | ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES | | | | Commercial and industrial | 3%%%%% | 2%% | | Commercial real estate | (44) | (29) | | Total commercial | (14) | (10) | | Residential mortgages | 1 | (1) | | Home equity | 6 | 6 | | Automobile | (17) | (28) | | Education | 8 | (57) | | Other retail | (101) | (87) | | Total retail | (8) | (19) | | Total loans and leases | (11)%%%%% | (15)%% | | Memo: Average loans | | | | Commercial and industrial | $7,278%% | $6,912% | | Commercial real estate | (2,153) | (2,382) | | Total commercial | 5,125 | 4,530 | | Residential mortgages | 2,373 | 2,295 | | Home equity | 2,552 | 2,567 | | Automobile | (2,038) | (2,169) | | Education | (477) | (1,358) | | Other retail | (216) | (346) | | Total retail | 2,194 | 989 | | Total loans and leases | $7,319%% | $5,519% | **CREDIT-RELATED INFORMATION, CONTINUED** _(dollars in millions)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $%%% | % | | SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES | | | | Allowance for loan and lease losses - beginning | ($56)%%) | (6%) | | Charge-offs: | | | | Commercial | (17) | (6) | | Retail | (18) | (29) | | Total charge-offs | (35) | (20) | | Recoveries: | | | | Commercial | 4 | NM | | Retail | (7) | (16) | | Total recoveries | (3) | 12 | | Net charge-offs | (32) | (26) | | Provision (benefit) for loan and lease losses: | | | | Commercial | 22 | 45 | | Retail | (37) | (45) | | Total provision (benefit) for loan and lease losses | (15) | (5) | | Allowance for loan and lease losses - ending | ($39)%%) | (2%) | | Allowance for unfunded lending commitments - beginning | $29%)% | 21% | | Provision (benefit) for unfunded lending commitments | (15)% | NM | | Allowance for unfunded lending commitments - ending | $14%)% | 7% | | Total allowance for credit losses - ending | ($25)%%) | (1%) | | Memo: Total allowance for credit losses by product | | | | Commercial | $24%)% | 2% | | Retail | (49) | (5) | | Total allowance for credit losses | ($25)%%) | (1%) | **CAPITAL AND RATIOS** _(dollars in millions)_ | Line item | AS OF | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | | 2026 Change | | | June 30, 2025 | 2025 | | | | % | | CAPITAL RATIOS AND COMPONENTS (PRELIMINARY) | | | | CET1 capital | $17,812%% | | | Tier 1 capital | 19,925 | | | Total capital | 23,221 | | | Risk-weighted assets | 168,017 | | | Adjusted average assets¹ | 212,450 | | | CET1 capital ratio | 10.6%%%%% | | | Tier 1 capital ratio | 11.9 | | | Total capital ratio | 13.8 | | | Tier 1 leverage ratio | 9.4 | | | TANGIBLE COMMON EQUITY (PERIOD-END) | | | | Common stockholders' equity | $23,121%% | 4% | | Less: Goodwill | 8,187 | — | | Less: Other intangible assets | 128 | (18) | | Add: Deferred tax liabilities² | 440 | — | | Total tangible common equity³ | $15,246%% | 6% | | TANGIBLE COMMON EQUITY (AVERAGE) | | | | Common stockholders' equity | $22,494%)% | 7% | | Less: Goodwill | 8,187 | — | | Less: Other intangible assets | 134 | (20) | | Add: Deferred tax liabilities² | 438 | — | | Total tangible common equity³ | $14,611%)% | 11% | | INTANGIBLE ASSETS (PERIOD-END) | | | | Goodwill | $8,187%% | — | | Other intangible assets | 128 | (18) | | Total intangible assets | $8,315%% | — | 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 AND RECONCILIATIONS (dollars in millions, except per share data) 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. **NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED** _(dollars in millions, except per share data)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $%%% | $% | | Pre-provision profit: | | | | Total revenue (GAAP) | $246%% | $479% | | Less: Noninterest expense (GAAP) | 75 | 139 | | Pre-provision profit (non-GAAP) | $171%% | $340% | | Book value per common share and tangible book value per common share: | | | | Common shares - at period-end (GAAP) | (10,091,151)%)%) | (10,091,151)%) | | Common stockholders' equity (GAAP) | $951 | $951 | | Less: Goodwill (GAAP) | 33 | 33 | | Less: Other intangible assets (GAAP) | (23) | (23) | | Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) | (2) | (2) | | Tangible common equity (non-GAAP) | $939%% | $939% | | Book value per common share (GAAP) | $3.52%% | $3.52% | | Tangible book value per common share (non-GAAP) | 3.06 | 3.06 | | Net interest income and net interest margin on an FTE basis: | | | | Net interest income (annualized) (GAAP) | $772%% | $736% | | Average interest-earning assets (GAAP) | 10,452 | 8,670 | | Net interest margin (GAAP) | 22%%%%% | bps | | Net interest income (GAAP) | $194%% | $365% | | FTE adjustment | (1) | (2) | | Net interest income on an FTE basis (non-GAAP) | 193 | 363 | | Net interest income on an FTE basis (annualized) (non-GAAP) | 769 | 733 | | Net interest margin on an FTE basis (non-GAAP) | 22%%%%% | bps | | Return on average common equity and return on average tangible common equity: | | | | Net income available to common stockholders (GAAP) | $152%% | $296% | | Average common equity (GAAP) | $1,345 | $1,575 | | Less: Average goodwill (GAAP) | 34 | 22 | | Less: Average other intangibles (GAAP) | (25) | (27) | | Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) | — | (1) | | Average tangible common equity (non-GAAP) | $1,336%)% | $1,579% | | Return on average common equity (GAAP) | 213%%%%% | bps | | Return on average tangible common equity (non-GAAP) | 286%%%%% | bps | **NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED** _(dollars in millions, except per share data)_ | Line item | QUARTERLY TRENDS | FOR THE SIX MONTHS ENDED JUNE 30, | | --- | --- | --- | | | 2Q26 Change | 2026 Change | | | 2Q25 | 2025 | | | $/bps | $/bps | | Return on average total assets and return on average total tangible assets: | | | | Net income (GAAP) | $151%% | $295% | | Average total assets (GAAP) | $11,602 | $9,768 | | Less: Average goodwill (GAAP) | 34 | 22 | | Less: Average other intangibles (GAAP) | (25) | (27) | | Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) | — | (1) | | Average tangible assets (non-GAAP) | $11,593%% | $9,772% | | Return on average total assets (GAAP) | bps | bps | | Return on average total tangible assets (non-GAAP) | bps | bps | | Common equity ratio and tangible common equity ratio: | | | | Total assets (GAAP) | $15,526%% | $15,526% | | Less: Goodwill (GAAP) | 33 | 33 | | Less: Other intangible assets (GAAP) | (23) | (23) | | Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) | (2) | (2) | | Tangible assets (non-GAAP) | $15,514%% | $15,514% | | Common equity ratio (GAAP) | (30) bps%%%%% | (30) bps%% | | Tangible common equity ratio (non-GAAP) | (4) bps | (4) bps |