STOCK TITAN
  1. Home
  2. Sec-filings
  3. CFG
  4. [8-K] CITIZENS FINANCIAL GROUP INC/RI Reports Material Event

Citizens Financial (NYSE: CFG) posts 35% Q2 profit rise and higher EPS

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Citizens Financial Group reported strong second quarter 2026 results, with net income of $587 million, up 35% year-over-year, and diluted EPS of $1.30, up 41% year-over-year and 15% sequentially. Total revenue was $2.283 billion, up 12% year-over-year, as net interest income rose 14% and noninterest income 9%. Pre-provision profit reached $889 million, up 24% year-over-year, delivering positive operating leverage of 6.4%.

Asset growth remained solid, with period-end loans and leases of $147.5 billion and deposits of $185.6 billion, both up 6% year-over-year. Credit quality was favorable: the net charge-off ratio was 0.37% and nonaccrual loans were 0.97% of loans, while the allowance for credit losses was 1.48% of loans and 152% of nonaccruals. Capital stayed robust with a CET1 ratio of 10.4% and tangible book value per share of $38.29, up 9% year-over-year. Citizens declared a quarterly common dividend of $0.46 per share and returned $422 million to shareholders through dividends and buybacks in the quarter.

Positive

  • Strong earnings growth: Q2 2026 net income was $587 million, up 35% year-over-year, with diluted EPS of $1.30, up 41% year-over-year and 15% sequentially, and ROTCE of 13.9%.
  • Revenue and margin expansion: Total revenue reached $2.283 billion, up 12% year-over-year, net interest margin (FTE) rose to 3.17%, and operating leverage was a positive 6.4% year-over-year.
  • Improving credit quality: Net charge-offs were 0.37% of average loans and leases, down 11 basis points year-over-year, while nonaccrual loans fell to 0.97% of loans and leases and ACL coverage to nonaccruals rose to 152%.
  • Capital strength and shareholder returns: The CET1 ratio was 10.4%, tangible book value per share was $38.29 (up 9% year-over-year), and total capital returned to shareholders in Q2 2026 was $422 million through dividends and buybacks.

Negative

  • None.

Insights

Analyzing...

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Net income $587 million Second quarter 2026 net income, up 35% year-over-year and 14% sequentially
Diluted EPS $1.30 Second quarter 2026 diluted earnings per share, up 41% year-over-year and 15% sequentially
Total revenue $2,283 million Second quarter 2026 total revenue, up 12% year-over-year and 5% sequentially
Net interest margin (FTE) 3.17% Second quarter 2026 net interest margin on a fully taxable-equivalent basis, up 22 basis points year-over-year
CET1 ratio 10.4% Common equity tier 1 capital ratio as of June 30, 2026
Loans and leases $147.5 billion Period-end loans and leases at June 30, 2026, up 6% year-over-year
Deposits $185.6 billion Period-end deposits at June 30, 2026, up 6% year-over-year
Net charge-off ratio 0.37% Net charge-offs as a percentage of average loans and leases in Q2 2026, down 11 basis points year-over-year
net interest margin financial
"Net interest margin of 3.17% increased 22 basis points"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
allowance for credit losses financial
"Allowance for credit losses to loans and leases 1.48%"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
tangible book value per common share financial
"Tangible book value per common share of $38.29"
A per-share measure of the company’s tangible net asset value available to common shareholders after removing intangible items (like goodwill, brand value, and patents) and any preferred shareholder claims. Think of it as the amount each common share would get if the company sold only its physical and financial assets and settled priority claims. Investors use it as a conservative baseline to judge whether a stock is cheaply priced relative to the company’s hard-asset backing.
nonaccrual loans and leases financial
"Nonaccrual loans and leases to loans and leases 0.97%"
operating leverage financial
"Operating leverage 4.10% QoQ and 6.37% YoY"
Operating leverage measures how much a company's profits are affected by changes in sales volume. When a business has high operating leverage, small increases in sales can lead to much larger increases in profit, much like a lever amplifies force. It matters to investors because it indicates how sensitive a company's earnings are to fluctuations in sales, affecting risk and potential returns.
Net income $587 million up 35% year-over-year and 14% sequentially
Diluted EPS $1.30 up 41% year-over-year and 15% sequentially
Total revenue $2,283 million up 12% year-over-year and 5% sequentially
Net interest income $1,631 million up 14% year-over-year and 4% sequentially
Noninterest income $652 million up 9% year-over-year and 8% sequentially
Pre-provision profit (PPNR) $889 million up 24% year-over-year and 13% sequentially
Return on average tangible common equity 13.9% up 286 basis points year-over-year and 172 basis points sequentially
Net charge-offs as a % of average loans and leases 0.37% improved by 11 basis points year-over-year and 2 basis points sequentially
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Understanding 8-K Material Events →

FAQ

How did Citizens Financial Group (CFG) perform in Q2 2026?
Citizens Financial Group reported Q2 2026 net income of $587 million, up 35% year-over-year, and diluted EPS of $1.30, up 41% year-over-year and 15% sequentially. Pre-provision profit was $889 million, up 24% year-over-year.

How was credit quality at Citizens Financial Group (CFG) in Q2 2026?
Credit metrics were favorable, with a net charge-off ratio of 0.37% of average loans and leases, down from 0.48% a year ago. Nonaccrual loans were 0.97% of loans and leases, and the allowance for credit losses was 1.48% of loans and 152% of nonaccruals.

What were Citizens Financial Group (CFG) capital ratios and tangible book value in Q2 2026?
As of June 30, 2026, Citizens reported a CET1 capital ratio of 10.4%, total capital ratio of 13.6%, Tier 1 leverage ratio of 9.2%, and tangible common equity ratio of 7.2%. Tangible book value per common share was $38.29, up 9% year-over-year.

What dividend did Citizens Financial Group (CFG) declare for Q2 2026?
Citizens’ board declared a quarterly common dividend of $0.46 per share. The dividend is payable on August 13, 2026 to shareholders of record as of the close of business on July 30, 2026.

How did Citizens Financial Group (CFG) loans and deposits change in Q2 2026?
Period-end loans and leases were $147.5 billion, up 3% sequentially and 6% year-over-year, led by commercial and Private Bank growth. Period-end deposits were $185.6 billion, up 1% sequentially and 6% year-over-year, with strong Private Bank deposit inflows.
CITIZENS FINANCIAL GROUP INC/RI0000759944false00007599442026-07-162026-07-160000759944us-gaap:CommonStockMember2026-07-162026-07-160000759944us-gaap:SeriesEPreferredStockMember2026-07-162026-07-160000759944us-gaap:SeriesHPreferredStockMember2026-07-162026-07-160000759944cfg:SeriesIPreferredStockMember2026-07-162026-07-16


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

citizenslogoa05.jpg
 (Exact name of the registrant as specified in its charter)
Delaware001-3663605-0412693
(State or Other Jurisdiction of
Incorporation)		(Commission File Number)(I.R.S. Employer
Identification Number)
One Citizens Plaza
Providence,RI02903
(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 classTrading symbol(s)Name of each exchange on which registered
Common stock, $0.01 par value per shareCFGNew 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 ECFG PrENew 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 HCFG PrHNew 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 ICFG PrINew 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 NumberDescription
(d)Exhibit 99.1  
Citizens Financial Group, Inc. press release dated July 16, 2026
Exhibit 99.2  
Citizens Financial Group, Inc. earnings release presentation issued July 16, 2026
Exhibit 99.3  
Citizens Financial Group, Inc. financial supplement for second quarter 2026
Exhibit 104Cover 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






citizenslogoa05.jpg

Citizens Financial Group, Inc. Reports Second Quarter 2026 Net Income of
$587 million, up 35% YoY, and EPS of $1.30, up 41% YoY and 15% QoQ
Sequential NII Growth of 4% and Fee Growth of 8%
Positive Operating Leverage of 6.4% YoY
Key Financial Data2Q261Q262Q25
Second Quarter 2026 Highlights
Income
Statement		($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 $2,037 
Pre-provision profit889 790 718 
Provision for credit losses134 140 164 
Net income587 517 436 
Balance Sheet
&
Credit Quality		($s in billions)
Period-end loans and leases$147.5 $143.7 $139.3 
Average loans and leases146.1 143.4 138.8 
Period-end deposits185.6 184.0 175.1 
Average deposits183.6 181.3 174.1 
Loan-to-deposit ratio (spot)79.5 %78.1 %79.6 %
NCO ratio0.37 %0.39 %0.48 %
Financial MetricsDiluted EPS$1.30 $1.13 $0.92 
ROTCE13.9 %12.2 %11.0 %
Net interest margin, FTE3.17 3.14 2.95 
Efficiency ratio61.1 63.6 64.8 
CET110.4 %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):
Quarterly Trends
 2Q26 change from
($s in millions, except per share data)2Q261Q262Q251Q262Q25
Earnings$/bps/%%$/bps/%%
Net interest income$1,631 $1,562 $1,437 $69 4  %$194 14  %
Noninterest income652 606 600 46 8 52 9 
Total revenue2,283 2,168 2,037 115 5 246 12 
Noninterest expense1,394 1,378 1,319 16 1 75 6 
Pre-provision profit889 790 718 99 13 171 24 
Provision for credit losses134 140 164 (6)(4)(30)(18)
Net income587 517 436 70 14 151 35 
Preferred dividends/other33 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 share1.30 1.13 0.92 0.17 150.38 41 
Performance metrics
Net interest margin3.16 %3.14 %2.94 %2  bps22  bps
Net interest margin, FTE3.17 3.14 2.95 3 22 
Effective income tax rate22.3 20.5 21.4 183 92 
Efficiency ratio61.1 63.6 64.8 (247)(368)
Return on average tangible common equity13.9 12.2 11.0 172 286 
Return on average total tangible assets1.06 %0.97 %0.83 %9  bps23  bps
Capital adequacy(2,3)
Common equity tier 1 capital ratio10.4 %10.5 %10.6 %
Total capital ratio13.6 13.7 13.8 
Tier 1 leverage ratio9.2 9.3 9.4 
Tangible common equity ratio7.2 7.3 7.2 
Allowance for credit losses to loans and leases1.48 %1.52 %1.59 %(4) bps(11) bps
Asset quality(3)
Nonaccrual loans and leases to loans and leases0.97 %1.04 %1.09 %(7) bps(12) bps
Allowance for credit losses to nonaccrual loans and leases152 146 145 6 %7 %
Net charge-offs as a % of average loans and leases0.37 %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.

2
Citizens Financial Group, Inc.
Consolidated balance sheet summary(1):
 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
$/bps%$/bps%
Total assets$233,836 $227,918 $218,310 $5,918 3  %$15,526 7  %
Total loans and leases147,491 143,667 139,304 3,824 3 8,187 6 
Total loans held for sale1,458 1,537 2,093 (79)(5)(635)(30)
Deposits185,620 184,035 175,086 1,585 1 10,534 6 
Stockholders' equity26,183 26,172 25,234 11 — 949 4 
Stockholders' common equity24,072 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.






























3
Citizens Financial Group, Inc.
Discussion of results:
Net interest income 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
$/bps%$/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 securities446 424 428 22 5 18 4 
Interest-bearing deposits in banks103 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 funds9 4 9 5 125 — — 
Long-term borrowed funds156 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, FTE3.17  %3.14  %2.95  %3  bps22  bps
Second quarter 2026vs.first quarter 2026
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%.
Second quarter 2026vs.second quarter 2025
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.




4
Citizens Financial Group, Inc.
Noninterest Income 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
$%$%
Service charges and fees$117 $112 $111 $5 4  %$6 5  %
Capital markets fees153 134 105 19 14 48 46 
Wealth fees102 100 88 2 2 14 16 
Card fees89 83 90 6 7 (1)(1)
Mortgage banking fees42 42 73 — — (31)(42)
Foreign exchange and derivative products47 44 41 3 7 6 15 
Letter of credit and loan fees52 50 45 2 4 7 16 
Securities gains, net
6 7 5 (1)(14)1 20
Other income(1)
44 34 42 10 292 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.
Second quarter 2026vs.first quarter 2026
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.
Second quarter 2026vs.second quarter 2025
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.



5
Citizens Financial Group, Inc.
Noninterest Expense 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
$%$%
Salaries and employee benefits$745 $758 $681 $(13)(2)%$64 9 %
Equipment and software195 197 193 (2)(1)2 1 
Outside services174 162 169 12 7 5 3 
Occupancy108 114 108 (6)(5)— — 
Other operating expense172 147 168 25 17 4 2 
Noninterest expense$1,394 $1,378 $1,319 $16 1 %$75 6 %
Second quarter 2026vs.first quarter 2026
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.
Second quarter 2026vs.second quarter 2025
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 $4 million, reflecting the impact of various sundry items.
The effective tax rate was 22.3% in second quarter 2026 compared with 21.4% in second quarter 2025.
6
Citizens Financial Group, Inc.
Interest-earning assets 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
Period-end interest-earning assets$%$%
Investments$46,345 $45,218 $43,899 $1,127 2  %$2,446 6  %
Interest-bearing deposits in banks12,648 12,076 8,121 572 5 4,527 56 
Commercial loans and leases77,284 74,589 71,642 2,695 4 5,642 8 
Retail loans70,207 69,078 67,662 1,129 2 2,545 4 
Total loans and leases147,491 143,667 139,304 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 sale148,949 145,204 141,397 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 banks10,839 10,079 8,217 760 8 2,622 32 
Commercial loans and leases76,548 74,541 71,423 2,007 3 5,125 7 
Retail loans69,580 68,869 67,386 711 1 2,194 3 
Total loans and leases146,128 143,410 138,809 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 sale147,843 144,921 141,563 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.
Second quarter 2026vs.first quarter 2026
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.
Second quarter 2026vs.second quarter 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 $1.6 billion increase in investments in securities.
7
Citizens Financial Group, Inc.
Deposits 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
Period-end deposits$%$%
Noninterest-bearing demand
$40,939 $41,672 $38,001 $(733)(2) %$2,938 8  %
Checking with interest40,258 37,675 34,918 2,583 75,340 15
Savings23,570 24,114 25,400 (544)(2)(1,830)(7)
Money market60,029 59,611 55,638 418 14,391 8
Time20,824 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 interest38,632 37,027 33,847 1,605 44,785 14
Savings23,780 24,095 25,536 (315)(1)(1,756)(7)
Money market60,295 60,141 54,716 154 —5,579 10
Time21,032 20,766 22,679 266 1(1,647)(7)
Total average deposits$183,620 $181,315 $174,128 $2,305 1  %$9,492 5  %

Second quarter 2026vs.first quarter 2026
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.
Second quarter 2026vs.second quarter 2025
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 $183.6 billion were up 5%.
8
Citizens Financial Group, Inc.
Borrowed Funds 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
Period-end borrowed funds$%$%
Short-term borrowed funds$1,159 $54 $249 $1,105 NM$910 NM
Long-term borrowed funds
FHLB advances5,763 2,513 1,542 3,250 1294,221 NM
Senior debt7,078 7,076 6,821 2 —257 4
Subordinated debt and other debt1,421 1,419 1,752 2 —(331)(19)
Auto collateralized borrowings928 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 advances3,538 1,408 1,063 2,130 151 %2,475 233
Senior debt7,078 6,843 7,042 235 336 1
Subordinated debt and other debt1,419 1,415 1,759 4 —(340)(19)
Auto collateralized borrowings1,077 1,409 2,635 (332)(24)(1,558)(59)
Total average borrowed funds$14,101 $11,529 $13,424 $2,572 22  %$677 5  %
Second quarter 2026vs.first quarter 2026
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.
Second quarter 2026vs.second quarter 2025
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 $677 million, given the increase in FHLB advances, largely offset by the decrease in auto collateralized borrowings.
9
Citizens Financial Group, Inc.
Capital 2Q26 change from
($s and shares in millions, except per share data)2Q261Q262Q251Q262Q25
Period-end capital$%$%
Stockholders' equity$26,183 $26,172 $25,234 $11 —  %$949 4  %
Stockholders' common equity24,072 24,061 23,121 11 —951 4
Tangible common equity16,185 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 period422.7 426.0 432.8 (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 ratio7.2 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 $200 million in second quarter 2025.
10
Citizens Financial Group, Inc.
Credit quality review 2Q26 change from
($s in millions)2Q261Q262Q251Q262Q25
$/bps/%%$/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-offs135 138 167 (3)(2)(32)(19)
Provision for credit losses134 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 leases0.97  %1.04  %1.09  %(7) bps(12) bps
Net charge-offs as a % of total loans and leases0.37 0.39 0.48 (2)(11)
Allowance for credit losses to loans and leases1.48 1.52 1.59 (4)(11)
Allowance for credit losses to nonaccrual loans and leases152  %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.
Second quarter 2026vs.first quarter 2026
•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.
Second quarter 2026vs.second quarter 2025
•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.
11
Citizens Financial Group, Inc.

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.

12
Citizens Financial Group, Inc.

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.


13
Citizens Financial Group, Inc.


Non-GAAP financial measures and reconciliations
(in millions, except share, per-share and ratio data)
QUARTERLY TRENDS
2Q26 Change
2Q261Q262Q251Q262Q25
$/bps%$/bps%
Pre-provision profit:
Total revenue (GAAP)A$2,283 $2,168 $2,037 $1155%$246 12%
Less: Noninterest expense (GAAP)B1,394 1,378 1,319 161 75 6 
Pre-provision profit (non-GAAP)$889 $790 $718 $9913%$171 24%
Operating leverage:
Total revenue (GAAP)A$2,283 $2,168 $2,037 $115 5.25%$246 12.01%
Less: Noninterest expense (GAAP)B1,394 1,378 1,319 16 1.15 75 5.64 
Operating leverage4.10%6.37%
Efficiency ratio:
Efficiency ratio B/A61.08%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)C422,677,660 426,023,578 432,768,811 (3,345,918)(1%)(10,091,151)(2%)
Common stockholders' equity (GAAP)D$24,072 $24,061 $23,121 $11— $9514 
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—%$9396%
Book value per common share (GAAP)D/C$56.95 $56.48 $53.43 $0.471%$3.527%
Tangible book value per common share (non-GAAP)E/C38.29 37.94 35.23 0.351 3.069 
Net interest income and net interest margin on an FTE basis:
Net interest income (annualized) (GAAP)F$6,542 $6,337 $5,770 $2053%$77213%
Average interest-earning assets (GAAP)G206,770 201,929 196,318 4,8412 10,4525 
Net interest margin (GAAP)F/G3.16 %3.14%2.94%2  bps22  bps
Net interest income (GAAP)$1,631 $1,562 $1,437 $694%$19414%
FTE adjustment3 3 4 —— (1)(25)
Net interest income on an FTE basis (non-GAAP)1,634 1,565 1,441 694 19313 
Net interest income on an FTE basis (annualized) (non-GAAP)H6,555 6,350 5,786 2043 76913 
Net interest margin on an FTE basis (non-GAAP)H/G3.17 %3.14%2.95%3  bps22  bps
Return on average common equity and return on average tangible common equity:
Net income available to common stockholders (GAAP)I$554 $484 $402 $7014%$15238%
Average common equity (GAAP)J$23,839 $23,995 $22,494 ($156)(1)$1,3456 
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%)$1,3369%
Return on average common equity (GAAP)I/J9.31%8.19%7.18%112  bps213  bps
Return on average tangible common equity (non-GAAP)I/K13.91%12.19%11.05%172  bps286  bps
Return on average total assets and return on average total tangible assets:
Net income (GAAP)L$587 $517 $436 $7014%$15135%
Average total assets (GAAP)M$229,263 $224,224 $217,661 $5,0392 $11,6025 
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 $5,0222%$11,5936%
Return on average total assets (GAAP)L/M1.03%0.94%0.80%9  bps23  bps
Return on average total tangible assets (non-GAAP)L/N1.06 %0.97%0.83%9  bps23  bps
14
Citizens Financial Group, Inc.


Non-GAAP financial measures and reconciliations (continued)
(in millions, except share, per-share and ratio data)
QUARTERLY TRENDS
2Q26 Change
2Q261Q262Q251Q262Q25
$/bps%$/bps%
Common equity ratio and tangible common equity ratio:
Total assets (GAAP)O$233,836 $227,918 $218,310 $5,9183 %$15,5267%
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 $5,9273%$15,5147%
Common equity ratio (GAAP)D/O10.3 %10.6 %10.6 %(27) bps(30) bps
Tangible common equity ratio (non-GAAP)E/P7.2 7.3 7.2 (10) bps(4) bps










































15
Citizens Financial Group, Inc.
Forward-Looking Statements
This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words "believes," "expects," "anticipates," "estimates," "intends," "plans," "goals," "targets," "initiatives," "potentially," "probably," "projects," "outlook," 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.

16
Citizens Financial Group, Inc.
CFG-IR
17
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.

 

4 ■ 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%

 

12 ■ 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.

 

14 ■ 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

 

19 ■ 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.

 

 

















newcfglogomediuma01a21a.jpg


Financial Supplement

Second Quarter 2026





















1

Table of ContentsPage
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.
2

CONSOLIDATED FINANCIAL HIGHLIGHTS
(dollars in millions, except per share data)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$/bps%$/bps%$/bps%
SELECTED OPERATING DATA
Total revenueA$2,283 $2,168 $2,157 $2,118 $2,037 $115 5%$246 12%$4,451 $3,972 $479 12%
Noninterest expense
B
1,394 1,378 1,343 1,335 1,319 16 1 75 6 2,772 2,633 139 5 
Pre-provision profit1
889 790 814 783 718 99 13 171 24 1,679 1,339 340 25 
Provision (benefit) for credit losses134 140 137 154 164 (6)(4)(30)(18)274 317 (43)(14)
NET INCOME587 517 528 494 436 70 14 151 35 1,104 809 295 36 
Net income available to common stockholders554 484 489 457 402 70 14 152 38 1,038 742 296 40 
PER COMMON SHARE DATA
Basic earnings$1.31 $1.14 $1.14 $1.06 $0.93 $0.17 15%$0.38 41%$2.45 $1.70 $0.75 44%
Diluted earnings1.30 1.13 1.13 1.05 0.92 0.17 15 0.38 41 2.42 1.69 0.73 43 
Cash dividends declared and paid per common share 0.46 0.46 0.46 0.42 0.42 — — 0.04 10 0.92 0.84 0.08 10 
Book value per common share56.95 56.48 56.39 54.97 53.43 0.47 1 3.52 7 56.95 53.43 3.52 7 
Tangible book value per common share1
38.29 37.94 38.07 36.73 35.23 0.35 1 3.06 9 38.29 35.23 3.06 9 
Dividend payout ratio35 %40 %40 %40 %45 %(524) bps(1,005) bps38 %49%(1,186) bps
COMMON SHARES OUTSTANDING
Average: Basic422,871,137 425,344,491 429,483,110 431,365,552 433,640,210 (2,473,354)(1%)(10,769,073)(2%)424,100,982 435,967,554 (11,866,572)(3%)
              Diluted
426,681,848 429,894,837 434,077,960 435,472,350 436,539,774 (3,212,989)(1)(9,857,926)(2)428,274,078 439,342,703 (11,068,625)(3)
Common shares at period-end422,677,660 426,023,578 429,242,174 431,453,142 432,768,811 (3,345,918)(1)(10,091,151)(2)422,677,660 432,768,811 (10,091,151)(2)
FINANCIAL RATIOS
Net interest margin3.16 %3.14 %3.06 %2.99 %2.94 %2 bps22 bps3.15 %2.91 %24  bps
Net interest margin, FTE1,2
3.17 3.14 3.07 3.00 2.95 3223.16 2.92 24  
Return on average common equity9.31 8.19 8.16 7.77 7.18 112 213 8.75 6.70 205  
Return on average tangible common equity1
13.91 12.19 12.18 11.75 11.05 172 286 13.05 10.35 270  
Return on average total assets1.03 0.94 0.95 0.90 0.80 9 23 0.98 0.75 23  
Return on average total tangible assets1
1.06 0.97 0.98 0.93 0.83 9 23 1.02 0.78 24  
Effective income tax rate22.29 20.46 22.03 21.38 21.37 183 92 21.44 20.86 58  
Efficiency ratio
B/A
61.08 63.55 62.24 63.03 64.76 (247)(368)62.28 66.29 (401) 
Noninterest income as a % of total revenue28.54 27.95 28.75 29.75 29.41 59 (87)28.25 28.79 (54)
Operating leverage:
Total revenue$2,283 $2,168 $2,037 $115 5.25%$246 12.01%$4,451 $3,972 $479 12.06%
Less: Noninterest expense
1,394 1,378 1,319 16 1.15 75 5.64 2,772 2,633 139 5.28 
Operating leverage
4.10%6.37%6.78%
CAPITAL RATIOS - PERIOD-END (PRELIMINARY)
CET1 capital ratio10.4 %10.5 %10.6 %10.7 %10.6 %
Tier 1 capital ratio11.6 11.7 11.9 11.9 11.9 
Total capital ratio13.6 13.7 13.8 13.9 13.8 
Tier 1 leverage ratio9.2 9.3 9.5 9.4 9.4 
Common equity ratio
10.3 10.6 10.7 10.6 10.6 
Tangible common equity ratio1
7.2 7.3 7.5 7.4 7.2 
SELECTED BALANCE SHEET DATA
Loan-to-deposit ratio (period-end balances)79.46 %78.07 %77.84 %78.26 %79.56 %139  bps(10) bps79.46 %79.56 %(10) bps
Loan-to-deposit ratio (average balances)79.58 79.09 78.82 79.57 79.72 49  bps(14) bps79.34 80.30 (96) bps
Full-time equivalent colleagues (period-end)17,727 17,380 17,398 17,496 17,677 347 2 %50 — %17,727 17,677 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.
3

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)
(dollars in millions)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$%$%$%
INTEREST INCOME
Interest and fees on loans and leases$1,968 $1,884 $1,901 $1,897 $1,851 $84 4%$117 6%$3,852 $3,680 $172 5%
Interest and fees on loans held for sale26 21 22 31 36 5 24 (10)(28)47 52 (5)(10)
Investment securities446 424 434 433 428 22 5 18 4 870 846 24 3 
Interest-bearing deposits in banks103 91 89 97 92 12 13 11 12 194 181 13 7 
Total interest income2,543 2,420 2,446 2,458 2,407 123 5 136 6 4,963 4,759 204 4 
INTEREST EXPENSE
Deposits747 715 781 816 802 32 4 (55)(7)1,462 1,597 (135)(8)
Short-term borrowed funds9 4 — 5 9 5 125 — — 13 17 (4)(24)
Long-term borrowed funds156 139 128 149 159 17 12 (3)(2)295 317 (22)(7)
Total interest expense912 858 909 970 970 54 6 (58)(6)1,770 1,931 (161)(8)
Net interest income1,631 1,562 1,537 1,488 1,437 69 4 194 14 3,193 2,828 365 13 
NONINTEREST INCOME
Service charges and fees117 112 112 112 111 5 4 6 5 229 220 9 4 
Capital markets fees153 134 140 166 105 19 14 48 46 287 205 82 40 
Wealth fees102 100 98 93 88 2 2 14 16 202 169 33 20 
Card fees89 83 86 87 90 6 7 (1)(1)172 173 (1)(1)
Mortgage banking fees42 42 52 49 73 — — (31)(42)84 132 (48)(36)
Foreign exchange and derivative products47 44 34 42 41 3 7 6 15 91 80 11 14 
Letter of credit and loan fees52 50 49 48 45 2 4 7 16 102 89 13 15 
Securities gains, net6 7 7 2 5 (1)(14)1 20 13 12 1 8 
Other income44 34 42 31 42 10 29 2 5 78 64 14 22 
Total noninterest income652 606 620 630 600 46 8 52 9 1,258 1,144 114 10 
TOTAL REVENUE2,283 2,168 2,157 2,118 2,037 115 5 246 12 4,451 3,972 479 12 
Provision (benefit) for credit losses134 140 137 154 164 (6)(4)(30)(18)274 317 (43)(14)
NONINTEREST EXPENSE
Salaries and employee benefits745 758 716 705 681 (13)(2)64 9 1,503 1,377 126 9 
Equipment and software195 197 199 197 193 (2)(1)2 1 392 387 5 1 
Outside services174 162 148 161 169 12 7 5 3 336 324 12 4 
Occupancy108 114 109 106 108 (6)(5)— — 222 220 2 1 
Other operating expense172 147 171 166 168 25 17 4 2 319 325 (6)(2)
Total noninterest expense1,394 1,378 1,343 1,335 1,319 16 1 75 6 2,772 2,633 139 5 
Income before income tax expense755 650 677 629 554 105 16 201 36 1,405 1,022 383 37 
Income tax expense168 133 149 135 118 35 26 50 42 301 213 88 41 
Net income$587 $517 $528 $494 $436 $70 14%$151 35%$1,104 $809 $295 36%
Net income available to common stockholders$554 $484 $489 $457 $402 $70 14%$152 38%$1,038 $742 $296 40%
4

CONSOLIDATED BALANCE SHEETS (unaudited)
(dollars in millions, except par value)
PERIOD-END BALANCESAS OFJUNE 30, 2026 CHANGE
June 30, 2026Mar 31, 2026Dec 31, 2025Sept 30, 2025June 30, 2025March 31, 2026June 30, 2025
$%$%
ASSETS
Cash and due from banks$1,219 $1,084 $1,464 $1,254 $1,107 $135 12%$112 10%
Interest-bearing cash and due from banks11,541 11,246 11,263 10,396 7,441 295 3 4,100 55 
Interest-bearing deposits in banks1,107 830 961 694 680 277 33 427 63 
Debt securities available for sale, at fair value37,448 36,361 35,697 35,419 34,658 1,087 3 2,790 8 
Debt securities held to maturity7,638 7,800 7,933 8,124 8,293 (162)(2)(655)(8)
Loans held for sale
1,458 1,537 1,198 1,334 2,093 (79)(5)(635)(30)
Loans and leases147,491 143,667 142,692 140,870 139,304 3,824 3 8,187 6 
Less: Allowance for loan and lease losses(1,969)(1,958)(1,943)(1,972)(2,008)(11)1 39 (2)
Net loans and leases145,522 141,709 140,749 138,898 137,296 3,813 3 8,226 6 
Premises and equipment873 874 915 857 855 (1)— 18 2 
Bank-owned life insurance3,470 3,464 3,441 3,422 3,408 6 — 62 2 
Goodwill8,220 8,221 8,187 8,187 8,187 (1)— 33 — 
Other intangible assets105 112 115 123 129 (7)(6)(24)(19)
Other assets
15,235 14,680 14,428 14,039 14,163 555 4 1,072 8 
TOTAL ASSETS$233,836 $227,918 $226,351 $222,747 $218,310 $5,918 3%$15,526 7%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits:
Noninterest-bearing$40,939 $41,672 $40,417 $39,472 $38,001 ($733)(2%)$2,938 8%
Interest-bearing144,681 142,363 142,896 140,539 137,085 2,318 2 7,596 6 
Total deposits185,620 184,035 183,313 180,011 175,086 1,585 1 10,534 6 
Short-term borrowed funds1,159 54 58 214 249 1,105 NM910 NM
Long-term borrowed funds:
FHLB advances5,763 2,513 2,014 14 1,542 3,250 129 4,221 NM
Senior debt7,078 7,076 6,328 6,825 6,821 2 — 257 4 
Subordinated debt and other debt2,349 2,671 2,882 3,602 4,163 (322)(12)(1,814)(44)
Total long-term borrowed funds15,190 12,260 11,224 10,441 12,526 2,930 24 2,664 21 
Other liabilities
5,684 5,397 5,439 6,252 5,215 287 5 469 9 
TOTAL LIABILITIES207,653 201,746 200,034 196,918 193,076 5,907 3 14,577 8 
STOCKHOLDERS' EQUITY
Preferred stock:
$25.00 par value, 100,000,000 shares authorized for each of the periods presented2,111 2,111 2,111 2,111 2,113 — — (2)— 
Common stock:
$0.01 par value, 1,000,000,000 shares authorized for each of the periods presented7 7 7 7 7 — — — — 
Additional paid-in capital22,521 22,466 22,476 22,448 22,420 55 — 101 — 
Retained earnings11,987 11,631 11,345 11,056 10,783 356 3 1,204 11 
Treasury stock, at cost(8,182)(7,955)(7,652)(7,526)(7,450)(227)(3)(732)(10)
Accumulated other comprehensive income (loss)(2,261)(2,088)(1,970)(2,267)(2,639)(173)(8)378 14 
TOTAL STOCKHOLDERS' EQUITY26,183 26,172 26,317 25,829 25,234 11 — 949 4 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$233,836 $227,918 $226,351 $222,747 $218,310 $5,918 3%$15,526 7%
Memo: Total tangible common equity1
$16,185 $16,165 $16,341 $15,848 $15,246 $20 —%$939 6%
1 Represents a non-GAAP financial measure. For further information on this measure, refer to "Non-GAAP Financial Measures and Reconciliations."
5

LOANS AND DEPOSITS
(dollars in millions)
PERIOD-END BALANCESAS OFJUNE 30, 2026 CHANGE
June 30, 2026Mar 31, 2026Dec 31, 2025Sept 30, 2025June 30, 2025Mar 31, 2026June 30, 2025
$%$%
LOANS AND LEASES
Commercial and industrial
$53,467 $50,307 $49,232 $46,953 $45,412 $3,160 6%$8,055 18%
Commercial real estate23,817 24,282 24,580 25,540 26,230 (465)(2)(2,413)(9)
Total commercial77,284 74,589 73,812 72,493 71,642 2,695 4 5,642 8 
Residential mortgages36,374 35,404 35,024 34,477 33,823 970 3 2,551 8 
Home equity20,276 19,449 19,069 18,415 17,711 827 4 2,565 14 
Automobile1,482 1,863 2,310 2,816 3,407 (381)(20)(1,925)(57)
Education8,044 8,340 8,416 8,556 8,550 (296)(4)(506)(6)
Other retail4,031 4,022 4,061 4,113 4,171 9 — (140)(3)
Total retail70,207 69,078 68,880 68,377 67,662 1,129 2 2,545 4 
Total loans and leases$147,491 $143,667$142,692$140,870$139,304$3,824 3%$8,187 6%
Loans held for sale
1,458 1,537 1,198 1,334 2,093 (79)(5)(635)(30)
Loans and leases and loans held for sale$148,949 $145,204 $143,890 $142,204 $141,397 $3,745 3%$7,552 5%
DEPOSITS
Noninterest-bearing demand
$40,939 $41,672 $40,417 $39,472 $38,001 ($733)(2%)$2,938 8%
Checking with interest40,258 37,675 37,428 35,219 34,918 2,583 7 5,340 15 
Savings23,570 24,114 24,353 24,759 25,400 (544)(2)(1,830)(7)
Money market60,029 59,611 60,062 59,709 55,638 418 1 4,391 8 
Time
20,824 20,963 21,053 20,852 21,129 (139)(1)(305)(1)
Total deposits$185,620 $184,035 $183,313 $180,011 $175,086 $1,585 1%$10,534 6%


6

AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES
(dollars in millions)
QUARTERLY TRENDS2Q26 Change
2Q261Q262Q251Q262Q25
Average Balance
InterestRate
Average Balance
InterestRate
Average Balance
InterestRate
Average Balance
InterestRate
Average Balance
InterestRate
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 securities48,087 446 3.71 46,928 424 3.62 46,537 428 3.69 1,159 22 91,550 18 2
Non-taxable investment securities1 — 2.60 1 — 2.60 1 — 2.60 — — —— — —
Total investment securities48,088 446 3.71 46,929 424 3.62 46,538 428 3.69 1,159 22 91,550 18 2
Commercial and industrial
52,214 707 5.35 50,140 644 5.14 44,936 549 4.84 2,074 63 217,278 158 51
Commercial real estate24,334 333 5.41 24,401 328 5.38 26,487 384 5.73 (67)5 3(2,153)(51)(32)
Total commercial76,548 1,040 5.37 74,541 972 5.22 71,423 933 5.17 2,007 68 155,125 107 20
Residential mortgages35,793 367 4.09 35,090 353 4.03 33,420 327 3.92 703 14 62,373 40 17
Home equity19,876 319 6.43 19,230 307 6.47 17,324 308 7.14 646 12 (4)2,552 11 (71)
Automobile1,667 20 4.78 2,090 24 4.68 3,705 41 4.41 (423)(4)10(2,038)(21)37
Education8,183 124 6.11 8,442 127 6.08 8,660 128 5.94 (259)(3)3(477)(4)17
Other retail4,061 98 9.67 4,017 101 10.22 4,277 114 10.66 44 (3)(55)(216)(16)(99)
Total retail69,580 928 5.34 68,869 912 5.34 67,386 918 5.46 711 16 —2,194 10 (12)
Total loans and leases146,128 1,968 5.36 143,410 1,884 5.28 138,809 1,851 5.31 2,718 84 87,319 117 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 assets206,770 2,543 4.90 201,929 2,420 4.81 196,318 2,407 4.89 4,841 123 910,452 136 1
Noninterest-earning assets22,493 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 market60,295 374 2.49 60,141 350 2.36 54,716 376 2.75 154 24 135,579 (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 deposits143,739 747 2.08 142,029 715 2.04 136,778 802 2.35 1,710 32 46,961 (55)(27)
Short-term borrowed funds989 9 3.43 454 4 3.74 925 9 3.96 535 5 (31)64 — (53)
FHLB advances3,538 35 3.94 1,408 14 4.02 1,063 12 4.64 2,130 21 (8)2,475 23 (70)
Senior debt7,078 89 5.01 6,843 86 5.04 7,042 90 5.07 235 3 (3)36 (1)(6)
Subordinated debt and other debt2,496 32 5.09 2,824 39 5.50 4,394 57 5.18 (328)(7)(41)(1,898)(25)(9)
Total long-term borrowed funds13,112 156 4.74 11,075 139 5.03 12,499 159 5.07 2,037 17 (29)613 (3)(33)
Total borrowed funds14,101 165 4.65 11,529 143 4.98 13,424 168 5.00 2,572 22 (33)677 (3)(35)
Total interest-bearing liabilities157,840 912 2.31 153,558 858 2.26 150,202 970 2.59 4,282 54 57,638 (58)(28)
Noninterest-bearing demand deposits
39,881 39,286 37,350 595 2,531 
Other noninterest-bearing liabilities5,592 5,274 5,503 318 89 
TOTAL LIABILITIES203,313 198,118 193,055 5,195 10,258 
STOCKHOLDERS' EQUITY25,950 26,106 24,606 (156)1,344 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$229,263 $224,224 $217,661 $5,039 $11,602 
INTEREST RATE SPREAD2.59 %2.55 %2.30 %429
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

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

7

AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES
(dollars in millions)
FOR THE SIX MONTHS ENDED JUNE 30,2026 Change
202620252025
Average Balance
InterestRate
Average Balance
InterestRate
Average Balance
InterestRate
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 securities47,511 870 3.67 46,304 846 3.66 1,207 24 1
Non-taxable investment securities1 — 2.60 1 — 2.60 — — —
Total investment securities47,512 870 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 estate24,367 661 5.39 26,749 771 5.73 (2,382)(110)(34)
Total commercial75,550 2,012 5.30 71,020 1,835 5.14 4,530 177 16
Residential mortgages35,442 720 4.06 33,147 645 3.89 2,295 75 17
Home equity19,555 626 6.45 16,988 601 7.14 2,567 25 (69)
Automobile1,878 44 4.73 4,047 88 4.40 (2,169)(44)33
Education8,312 251 6.09 9,670 276 5.76 (1,358)(25)33
Other retail4,039 199 9.94 4,385 235 10.79 (346)(36)(85)
Total retail69,226 1,840 5.34 68,237 1,845 5.44 989 (5)(10)
Total loans and leases144,776 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 assets204,362 4,963 4.85 195,692 4,759 4.86 8,670 204 (1)
Noninterest-earning assets22,395 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 market60,218 724 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 deposits142,889 1,462 2.06 136,472 1,597 2.36 6,417 (135)(30)
Short-term borrowed funds723 13 3.53 800 17 4.20 (77)(4)(67)
FHLB advances2,479 49 3.96 831 19 4.62 1,648 30 (66)
Senior debt6,961 175 5.03 7,087 176 4.96 (126)(1)7
Subordinated debt and other debt2,659 71 5.31 4,660 122 5.24 (2,001)(51)7
Total long-term borrowed funds12,099 295 4.87 12,578 317 5.04 (479)(22)(17)
Total borrowed funds12,822 308 4.80 13,378 334 4.99 (556)(26)(19)
Total interest-bearing liabilities155,711 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 liabilities5,433 5,736 (303)
TOTAL LIABILITIES200,729 192,534 8,195 
STOCKHOLDERS' EQUITY26,028 24,455 1,573 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$226,757 $216,989 $9,768 
INTEREST RATE SPREAD2.56 %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."

8

MORTGAGE BANKING FEES SUMMARY
(dollars in millions)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$/bps%$/bps%$/bps%
MORTGAGE BANKING FEES
Production revenue$15 $21 $19 $18 $19 ($6)(29%)($4)(21%)$36 $34 $2 6%
Mortgage servicing revenue30 24 21 29 28 625 27 54 60 (6)(10)
MSR valuation changes, net of hedge impact(3)(3)12 2 26 —— (29)NM(6)38 (44)NM
Total mortgage banking fees$42 $42 $52 $49 $73 $——%($31)(42%)$84 $132 ($48)(36%)
Pull-through adjusted locks$2,590 $2,299 $2,486 $2,150 $2,458 $29113%$1325%$4,889 $4,570 $3197%
Production revenue as a percentage of Pull-through adjusted locks0.58 %0.90 %0.78 %0.81 %0.78 %(33) bps(21) bps0.73%0.75%(2) bps
RESIDENTIAL REAL ESTATE ORIGINATIONS
Retail$2,657 $1,944 $2,175 $2,019 $2,189 $71337%$46821%$4,601 $3,633 $96827%
Third Party2,079 1,854 2,179 1,837 1,916 22512 1639 3,933 3,390 54316 
Total$4,736 $3,798 $4,354 $3,856 $4,105 $93825%$63115%$8,534 $7,023 $1,51122%
Originated for sale$2,676 $2,415 $2,748 $2,379 $2,486 $26111%$1908%$5,091 $4,402 $68916%
Originated for investment2,060 1,383 1,606 1,477 1,619 67749 44127 3,443 2,621 82231 
Total$4,736 $3,798 $4,354 $3,856 $4,105 $93825%$63115%$8,534 $7,023 $1,51122%
MORTGAGE SERVICING INFORMATION (UPB)
Loans serviced for others$94,589 $94,794 $94,877 $95,244 $95,422 ($205)—%($833)(1%)$94,589 $95,422 ($833)(1%)
Owned loans serviced36,975 35,888 35,599 34,760 34,284 1,0873 2,6918 36,975 34,284 2,6918 
Total$131,564 $130,682 $130,476 $130,004 $129,706 $8821%$1,8581%$131,564 $129,706 $1,8581%
MSR at fair value$1,482 $1,462 $1,455 $1,430 $1,426 $201%$564%$1,482 $1,426 $564%
    

9

SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING
(dollars in millions)

QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
CONSUMER BANKING
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$/bps%$/bps%$/bps%
Net interest income$1,348 $1,309 $1,299 $1,262 $1,218 $39 3%$130 11%$2,657 $2,411 $246 10%
Noninterest income314 299 315 311 329 15 5 (15)(5)613 626 (13)(2)
Total revenue1,662 1,608 1,614 1,573 1,547 54 3 115 7 3,270 3,037 233 8 
Noninterest expense1,016 1,028 984 979 963 (12)(1)53 6 2,044 1,917 127 7 
Profit (loss) before credit losses646 580 630 594 584 66 11 62 11 1,226 1,120 106 9 
Net charge-offs72 71 80 81 81 1 1 (9)(11)143 167 (24)(14)
Income (loss) before income tax expense (benefit)574 509 550 513 503 65 13 71 14 1,083 953 130 14 
Income tax expense (benefit)148 131 139 130 127 17 13 21 17 279 241 38 16 
Net income (loss)$426 $378 $411 $383 $376 $48 13%$50 13%$804 $712 $92 13%
AVERAGE BALANCES
Total assets$85,302 $83,870 $82,552 $80,729 $78,822 $1,432 2%$6,480 8%$84,590 $78,182 $6,408 8%
Total loans and leases1
78,550 77,089 75,980 74,274 72,402 1,461 2 6,148 8 77,824 71,732 6,092 8 
Deposits136,722 133,126 131,488 128,547 127,271 3,596 3 9,451 7 134,934 126,504 8,430 7 
Interest-earning assets79,163 77,695 76,583 74,870 72,988 1,468 2 6,175 8 78,433 72,315 6,118 8 
KEY METRICS
Net interest margin6.83 %6.83 %6.73 %6.69 %6.69 %—  bps14  bps6.83 %6.72 %11  bps
Efficiency ratio61.14 63.94 60.98 62.22 62.24 (280) bps(110) bps62.51 63.13 (62) bps
Loan-to-deposit ratio (period-end balances)58.07 56.55 57.28 57.40 57.24 152  bps83  bps58.07 57.24 83  bps
Loan-to-deposit ratio (average balances)56.84 57.36 57.19 57.16 56.26 (52) bps58  bps57.10 56.15 95  bps
1 Includes loans held for sale.















10

SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING
(dollars in millions)

QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
COMMERCIAL BANKING
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$/bps%$/bps%$/bps%
Net interest income$467 $456 $450 $448 $439 $11 2%$28 6%$923 $880 $43 5%
Noninterest income292 263 262 286 232 29 11 60 26 555 447 108 24 
Total revenue759 719 712 734 671 40 6 88 13 1,478 1,327 151 11 
Noninterest expense326 334 357 333 317 (8)(2)9 3 660 644 16 2 
Profit (loss) before credit losses433 385 355 401 354 48 12 79 22 818 683 135 20 
Net charge-offs63 64 70 78 84 (1)(2)(21)(25)127 161 (34)(21)
Income (loss) before income tax expense (benefit)370 321 285 323 270 49 15 100 37 691 522 169 32 
Income tax expense (benefit)90 78 70 75 64 12 15 26 41 168 120 48 40 
Net income (loss)$280 $243 $215 $248 $206 $37 15%$74 36%$523 $402 $121 30%
AVERAGE BALANCES
Total assets$69,614 $67,737 $66,750 $66,134 $66,284 $1,877 3%$3,330 5%$68,681 $65,827 $2,854 4%
Total loans and leases1
66,421 64,574 63,356 62,905 63,057 1,847 3 3,364 5 65,502 62,749 2,753 4 
Deposits44,064 45,354 45,443 44,482 42,481 (1,290)(3)1,583 4 44,706 42,330 2,376 6 
Interest-earning assets67,145 65,345 64,248 63,719 63,710 1,800 3 3,435 5 66,250 63,366 2,884 5 
KEY METRICS
Net interest margin2.78 %2.84 %2.78 %2.78 %2.78 %(6) bps—  bps2.81 %2.81 %—  bps
Efficiency ratio42.71 46.66 50.09 45.15 47.47 (395) bps(476) bps44.64 48.60 (396) bps
Loan-to-deposit ratio (period-end balances)142.67 141.03 132.96 132.70 139.59 164  bps308  bps142.67 139.59 308  bps
Loan-to-deposit ratio (average balances)148.75 140.64 138.26 140.06 146.90 811  bps185  bps144.66 146.88 (222) bps
1 Includes loans held for sale.















11

SEGMENT FINANCIAL HIGHLIGHTS - OTHER
(dollars in millions)

QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
OTHER1
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$%$%$%
Net interest income($184)($203)($212)($222)($220)$19 9%$36 16%($387)($463)$76 16%
Noninterest income46 44 43 33 39 2 5 7 18 90 71 19 27 
Total revenue(138)(159)(169)(189)(181)21 13 43 24 (297)(392)95 24 
Noninterest expense52 16 2 23 39 36 225 13 33 68 72 (4)(6)
Profit (loss) before provision (benefit) for credit losses(190)(175)(171)(212)(220)(15)(9)30 14 (365)(464)99 21 
Provision (benefit) for credit losses(1)5 (13)(5)(1)(6)NM— — 4 (11)15 NM
Income (loss) before income tax expense (benefit)(189)(180)(158)(207)(219)(9)(5)30 14 (369)(453)84 19 
Income tax expense (benefit)(70)(76)(60)(70)(73)6 8 3 4 (146)(148)2 1 
Net income (loss)($119)($104)($98)($137)($146)($15)(14%)$27 18%($223)($305)$82 27%
AVERAGE BALANCES
Total assets$74,347 $72,617 $71,940 $72,254 $72,555 $1,730 2%$1,792 2%$73,486 $72,980 $506 1%
Total loans and leases2
2,872 3,258 3,944 4,950 6,104 (386)(12)(3,232)(53)3,064 6,751 (3,687)(55)
Deposits2,834 2,835 2,926 2,928 4,376 (1)— (1,542)(35)2,834 4,586 (1,752)(38)
Interest-earning assets60,462 58,889 58,336 59,009 59,620 1,573 3 842 1 59,680 60,011 (331)(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.
12

CREDIT-RELATED INFORMATION
(dollars in millions)
AS OFJUNE 30, 2026 CHANGE
June 30, 2026Mar 31, 2026Dec 31, 2025Sept 30, 2025June 30, 2025Mar 31, 2026June 30, 2025
$/bps/%%$/bps/%%
NONACCRUAL LOANS AND LEASES
Commercial and industrial
$244 $188 $277 $230 $233 $56 30%$11 5%
Commercial real estate574 679 618 703 706 (105)(15)(132)(19)
Total commercial818 867 895 933 939 (49)(6)(121)(13)
Residential mortgages1
220 217 196 188 198 3 1 22 11 
Home equity316 324 319 297 282 (8)(2)34 12 
Automobile21 23 28 31 34 (2)(9)(13)(38)
Education21 21 20 20 19 — — 2 11 
Other retail39 45 46 49 52 (6)(13)(13)(25)
Total retail617 630 609 585 585 (13)(2)32 5 
Total nonaccrual loans and leases1,435 1,497 1,504 1,518 1,524 (62)(4)(89)(6)
ASSET QUALITY RATIOS
Allowance for loan and lease losses to loans and leases1.33%1.36%1.36%1.40%1.44%(3) bps(11) bps
Allowance for credit losses to loans and leases1.48 1.52 1.53 1.56 1.59 (4) bps(11) bps
Allowance for loan and lease losses to nonaccrual loans and leases1371311291301326%5%
Allowance for credit losses to nonaccrual loans and leases152 146 145 145 145 6%7%
Nonaccrual loans and leases to loans and leases0.97 1.04 1.05 1.08 1.09 (7) bps(12) bps
1 Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.




13

CREDIT-RELATED INFORMATION, CONTINUED
(dollars in millions)
AS OFJUNE 30, 2026 CHANGE
June 30, 2026Mar 31, 2026Dec 31, 2025Sept 30, 2025June 30, 2025Mar 31, 2026June 30, 2025
$/bps%$/bps%
LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING
Commercial and industrial
$3 $1 $5 $39 $3 $2 200%$— —%
Commercial real estate6 26 20 7 60 (20)(77)(54)(90)
Total commercial9 27 25 46 63 (18)(67)(54)(86)
Residential mortgages1
172 179 141 114 128 (7)(4)44 34 
Home equity— — 1 — — — — — — 
Automobile— — — — — — — — — 
Education2 2 2 2 2 — — — — 
Other retail— — — — 1 — — (1)(100)
Total retail174 181 144 116 131 (7)(4)43 33 
Total loans and leases$183 $208 $169 $162 $194 ($25)(12%)($11)(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.

14

CREDIT-RELATED INFORMATION, CONTINUED
(dollars in millions)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$%$%$%
CHARGE-OFFS, RECOVERIES AND RELATED RATIOS
GROSS CHARGE-OFFS
Commercial and industrial
$51 $50 $40 $33 $39 $1 2%$12 31%$101 $73 $28 38%
Commercial real estate25 41 42 58 54 (16)(39)(29)(54)66 105 (39)(37)
Total commercial76 91 82 91 93 (15)(16)(17)(18)167 178 (11)(6)
Residential mortgages1 1 5 1 — — — 1 100 2 1 1 100 
Home equity5 6 5 3 4 (1)(17)1 25 11 9 2 22 
Automobile8 9 12 13 14 (1)(11)(6)(43)17 34 (17)(50)
Education26 22 26 25 26 4 18 — — 48 82 (34)(41)
Other retail50 54 57 62 64 (4)(7)(14)(22)104 131 (27)(21)
Total retail90 92 105 104 108 (2)(2)(18)(17)182 257 (75)(29)
Total gross charge-offs$166 $183 $187 $195 $201 ($17)(9%)($35)(17%)$349 $435 ($86)(20%)
GROSS RECOVERIES
Commercial and industrial
$2 $15 $6 $3 $— ($13)(87%)$2 100%$17 $4 $13 NM
Commercial real estate3 3 1 3 1 — — 2 200 6 1 5 NM
Total commercial5 18 7 6 1 (13)(72)4 NM23 5 18 NM
Residential mortgages1 3 — 1 — (2)(67)1 100 4 1 3 NM
Home equity5 4 5 6 6 1 25 (1)(17)9 11 (2)(18)
Automobile7 7 9 9 11 — — (4)(36)14 23 (9)(39)
Education6 6 6 5 8 — — (2)(25)12 13 (1)(8)
Other retail7 7 5 6 8 — — (1)(13)14 15 (1)(7)
Total retail26 27 25 27 33 (1)(4)(7)(21)53 63 (10)(16)
Total gross recoveries$31 $45 $32 $33 $34 ($14)(31%)($3)(9%)$76 $68 $8 12%
NET CHARGE-OFFS (RECOVERIES)
Commercial and industrial
$49 $35 $34 $30 $39 $14 40%$10 26%$84 $69 $15 22%
Commercial real estate22 38 41 55 53 (16)(42)(31)(58)60 104 (44)(42)
Total commercial71 73 75 85 92 (2)(3)(21)(23)144 173 (29)(17)
Residential mortgages— (2)5 — — 2 100 — — (2)— (2)— 
Home equity— 2 — (3)(2)(2)(100)2 100 2 (2)4 NM
Automobile1 2 3 4 3 (1)(50)(2)(67)3 11 (8)(73)
Education20 16 20 20 18 4 25 2 11 36 69 (33)(48)
Other retail43 47 52 56 56 (4)(9)(13)(23)90 116 (26)(22)
Total retail64 65 80 77 75 (1)(2)(11)(15)129 194 (65)(34)
Total net charge-offs$135 $138 $155 $162 $167 ($3)(2%)($32)(19%)$273 $367 ($94)(26%)

15

CREDIT-RELATED INFORMATION, CONTINUED
(dollars in millions)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$/bps%$/bps%$/bps%
ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES
Commercial and industrial
0.38%0.28%0.28%0.26%0.35%10  bps3  bps0.33%0.31%2  bps
Commercial real estate0.36 0.64 0.64 0.85 0.80 (28)(44)0.50 0.79 (29)
Total commercial0.37 0.40 0.40 0.47 0.51 (3)(14)0.39 0.49 (10)
Residential mortgages0.01 (0.02)0.05 — — 3 1 (0.01)— (1)
Home equity0.01 0.04 — (0.06)(0.05)(3)6 0.03 (0.03)6 
Automobile0.19 0.35 0.60 0.43 0.36 (16)(17)0.28 0.56 (28)
Education0.94 0.80 0.94 0.92 0.86 14 8 0.87 1.44 (57)
Other retail4.22 4.74 5.02 5.45 5.23 (52)(101)4.48 5.35 (87)
Total retail0.37 0.38 0.46 0.45 0.45 (1)(8)0.38 0.57 (19)
Total loans and leases0.37%0.39%0.43%0.46%0.48%(2) bps(11) bps0.38%0.53%(15) bps
Memo: Average loans
Commercial and industrial
$52,214 $50,140 $48,108 $46,351 $44,936 $2,074 4%$7,278 16%$51,183 $44,271 $6,912 16%
Commercial real estate24,334 24,401 25,043 25,799 26,487 (67)— (2,153)(8)24,367 26,749 (2,382)(9)
Total commercial76,548 74,541 73,151 72,150 71,423 2,007 3 5,125 7 75,550 71,020 4,530 6 
Residential mortgages35,793 35,090 34,752 34,134 33,420 703 2 2,373 7 35,442 33,147 2,295 7 
Home equity19,876 19,230 18,754 18,027 17,324 646 3 2,552 15 19,555 16,988 2,567 15 
Automobile1,667 2,090 2,557 3,096 3,705 (423)(20)(2,038)(55)1,878 4,047 (2,169)(54)
Education8,183 8,442 8,469 8,513 8,660 (259)(3)(477)(6)8,312 9,670 (1,358)(14)
Other retail4,061 4,017 4,074 4,091 4,277 44 1 (216)(5)4,039 4,385 (346)(8)
Total retail69,580 68,869 68,606 67,861 67,386 711 1 2,194 3 69,226 68,237 989 1 
Total loans and leases$146,128 $143,410 $141,757 $140,011 $138,809 $2,718 2%$7,319 5%$144,776 $139,257 $5,519 4%



16

CREDIT-RELATED INFORMATION, CONTINUED
(dollars in millions)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$%$%$%
SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES
Allowance for loan and lease losses - beginning$1,958 $1,943 $1,972 $2,008 $2,014 $15 1%($56)(3%)$1,943 $2,061 ($118)(6%)
Charge-offs:
Commercial76 91 82 91 93 (15)(16)(17)(18)167 178 (11)(6)
Retail 90 92 105 104 108 (2)(2)(18)(17)182 257 (75)(29)
Total charge-offs166 183 187 195 201 (17)(9)(35)(17)349 435 (86)(20)
Recoveries:
Commercial5 18 7 6 1 (13)(72)4 NM23 5 18 NM
Retail 26 27 25 27 33 (1)(4)(7)(21)53 63 (10)(16)
Total recoveries31 45 32 33 34 (14)(31)(3)(9)76 68 8 12 
Net charge-offs135 138 155 162 167 (3)(2)(32)(19)273 367 (94)(26)
Provision (benefit) for loan and lease losses:
Commercial72 130 50 62 50 (58)(45)22 44 202 139 63 45 
Retail74 23 76 64 111 51 222 (37)(33)97 175 (78)(45)
Total provision (benefit) for loan and lease losses146 153 126 126 161 (7)(5)(15)(9)299 314 (15)(5)
Allowance for loan and lease losses - ending$1,969 $1,958 $1,943 $1,972 $2,008 $11 1%($39)(2%)$1,969 $2,008 ($39)(2%)
Allowance for unfunded lending commitments - beginning$227 $240 $229 $201 $198 ($13)(5%)$29 15%$240 $198 $42 21%
Provision (benefit) for unfunded lending commitments(12)(13)11 28 3 1 8%(15)NM(25)3 (28)NM
Allowance for unfunded lending commitments - ending$215 $227 $240 $229 $201 ($12)(5%)$14 7%$215 $201 $14 7%
Total allowance for credit losses - ending$2,184 $2,185 $2,183 $2,201 $2,209 ($1)—%($25)(1%)$2,184 $2,209 ($25)(1%)
Memo: Total allowance for credit losses by product
Commercial $1,293 $1,304 $1,252 $1,265 $1,269 ($11)(1%)$24 2%$1,293 $1,269 $24 2%
Retail 891 881 931 936 940 10 1(49)(5)891 940 (49)(5)
Total allowance for credit losses$2,184 $2,185 $2,183 $2,201 $2,209 ($1)—%($25)(1%)$2,184 $2,209 ($25)(1%)
17

CAPITAL AND RATIOS
(dollars in millions)
AS OFFOR THE SIX MONTHS ENDED JUNE 30,
JUNE 30, 2026 CHANGE2026 Change
June 30, 2026Mar 31, 2026Dec 31, 2025Sept 30, 2025June 30, 2025Mar 31, 2026June 30, 2025202620252025
$%$%$%
CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)
CET1 capital$18,364 $18,178 $18,240 $18,046 $17,812 $186 1%$552 3%
Tier 1 capital20,475 20,289 20,351 20,157 19,925 186 1 550 3 
Total capital23,933 23,751 23,654 23,455 23,221 182 1 712 3 
Risk-weighted assets176,336 173,268 171,493 168,932 168,017 3,068 2 8,319 5 
Adjusted average assets1
223,517 218,192 215,321 213,536 212,450 5,325 2 11,067 5 
CET1 capital ratio10.4 %10.5 %10.6 %10.7 %10.6 %
Tier 1 capital ratio11.6 11.7 11.9 11.9 11.9 
Total capital ratio13.6 13.7 13.8 13.9 13.8 
Tier 1 leverage ratio9.2 9.3 9.5 9.4 9.4 
TANGIBLE COMMON EQUITY (PERIOD-END)
Common stockholders' equity$24,072 $24,061 $24,206 $23,718 $23,121 $11 —%$951 4%$24,072 $23,121 $951 4%
Less: Goodwill8,220 8,221 8,187 8,187 8,187 (1)— 33 — 8,220 8,187 33 — 
Less: Other intangible assets105 112 115 123 128 (7)(6)(23)(18)105 128 (23)(18)
Add: Deferred tax liabilities2
438 437 437 440 440 1 — (2)— 438 440 (2)— 
Total tangible common equity3
$16,185 $16,165 $16,341 $15,848 $15,246 $20 —%$939 6%$16,185 $15,246 $939 6%
TANGIBLE COMMON EQUITY (AVERAGE)
Common stockholders' equity$23,839 $23,995 $23,823 $23,288 $22,494 ($156)(1%)$1,345 6%$23,917 $22,342 $1,575 7%
Less: Goodwill8,221 8,198 8,187 8,187 8,187 23 — 34 — 8,209 8,187 22 — 
Less: Other intangible assets109 114 120 126 134 (5)(4)(25)(19)111 138 (27)(20)
Add: Deferred tax liabilities2
438 437 440 440 438 1 — — — 437 438 (1)— 
Total tangible common equity3
$15,947 $16,120 $15,956 $15,415 $14,611 ($173)(1%)$1,336 9%$16,034 $14,455 $1,579 11%
INTANGIBLE ASSETS (PERIOD-END)
Goodwill$8,220 $8,221 $8,187 $8,187 $8,187 ($1)—%$33 —%$8,220 $8,187 $33 —%
Other intangible assets105 112 115 123 128 (7)(6)(23)(18)105 128 (23)(18)
Total intangible assets$8,325 $8,333 $8,302 $8,310 $8,315 ($8)—%$10 —%$8,325 $8,315 $10 —%
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."



18


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.

19

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED
(dollars in millions, except per share data)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$%$%$%
Pre-provision profit:
Total revenue (GAAP)
A
$2,283 $2,168 $2,157 $2,118 $2,037 $1155%$246 12%$4,451 $3,972 $47912%
Less: Noninterest expense (GAAP)
B
1,394 1,378 1,343 1,335 1,319 161 75 6 2,772 2,633 1395 
Pre-provision profit (non-GAAP)
$889 $790 $814 $783 $718 $9913%$171 24%$1,679 $1,339 $34025%
Book value per common share and tangible book value per common share:
Common shares - at period-end (GAAP)
C
422,677,660 426,023,578 429,242,174 431,453,142 432,768,811 (3,345,918)(1%)(10,091,151)(2%)422,677,660 432,768,811 (10,091,151)(2%)
Common stockholders' equity (GAAP)
D
$24,072 $24,061 $24,206 $23,718 $23,121 $11— $9514 $24,072 $23,121 $9514 
Less: Goodwill (GAAP)8,220 8,221 8,187 8,187 8,187 (1)— 33— 8,220 8,187 33— 
Less: Other intangible assets (GAAP)105 112 115 123 128 (7)(6)(23)(18)105 128 (23)(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)438 437 437 440 440 1— (2)— 438 440 (2)— 
Tangible common equity (non-GAAP)
E
$16,185 $16,165 $16,341 $15,848 $15,246 $20—%$9396%$16,185 $15,246 $9396%
Book value per common share (GAAP)
D/C
$56.95 $56.48 $56.39 $54.97 $53.43 $0.471%$3.527%$56.95 $53.43 $3.527%
Tangible book value per common share (non-GAAP)
E/C
38.29 37.94 38.07 36.73 35.23 0.351 3.069 38.29 35.23 3.069 
Net interest income and net interest margin on an FTE basis:
Net interest income (annualized) (GAAP)
F
$6,542 $6,337 $6,098 $5,902 $5,770 $2053%$77213%$6,440 $5,704 $73613%
Average interest-earning assets (GAAP)
G
206,770 201,929 199,167 197,598 196,318 4,8412 10,4525 204,362 195,692 8,6704
Net interest margin (GAAP)
F/G
3.16%3.14%3.06%2.99%2.94%2  bps22  bps3.15 %2.91 %24  bps
Net interest income (GAAP)$1,631 $1,562 $1,537 $1,488 $1,437 $694%$19414%$3,193 $2,828 $36513%
FTE adjustment3 3 4 4 4 —— (1)(25)6 8 (2)(25)
Net interest income on an FTE basis (non-GAAP)1,634 1,565 1,541 1,492 1,441 694 19313 3,199 2,836 36313
Net interest income on an FTE basis (annualized) (non-GAAP)
H
6,555 6,350 6,112 5,919 5,786 2043 76913 6,453 5,720 73313
Net interest margin on an FTE basis (non-GAAP)
H/G
3.17%3.14%3.07%3.00%2.95%3  bps22  bps3.16 %2.92 %24  bps
Return on average common equity and return on average tangible common equity:
Net income available to common stockholders (GAAP)
I
$554 $484 $489 $457 $402 $7014%$15238%$1,038 $742 $29640%
Average common equity (GAAP)
J
$23,839 $23,995 $23,823 $23,288 $22,494 ($156)(1)$1,3456 $23,917 $22,342 $1,5757 
Less: Average goodwill (GAAP)8,221 8,198 8,187 8,187 8,187 23— 34— 8,209 8,187 22— 
Less: Average other intangibles (GAAP)109 114 120 126 134 (5)(4)(25)(19)111 138 (27)(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)438 437 440 440 438 1— ——437 438 (1)— 
Average tangible common equity (non-GAAP)
K
$15,947 $16,120 $15,956 $15,415 $14,611 ($173)(1%)$1,3369%$16,034 $14,455 $1,57911%
Return on average common equity (GAAP)
I/J
9.31%8.19%8.16%7.77%7.18%112  bps213  bps8.75 %6.70 %205  bps
Return on average tangible common equity (non-GAAP)
I/K
13.91%12.19%12.18%11.75%11.05%172  bps286  bps13.05 %10.35 %270  bps
20

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED
(dollars in millions, except per share data)
QUARTERLY TRENDSFOR THE SIX MONTHS ENDED JUNE 30,
2Q26 Change2026 Change
2Q261Q264Q253Q252Q251Q262Q25202620252025
$/bps
%
$/bps
%$/bps%
Return on average total assets and return on average total tangible assets:
Net income (GAAP)
L
$587 $517 $528 $494 $436 $7014%$15135%$1,104 $809 $29536%
Average total assets (GAAP)
M
$229,263 $224,224 $221,242 $219,117 $217,661 $5,0392 $11,6025 $226,757 $216,989 $9,7685 
Less: Average goodwill (GAAP)8,221 8,198 8,187 8,187 8,187 23— 34— 8,209 8,187 22— 
Less: Average other intangibles (GAAP)109 114 120 126 134 (5)(4)(25)(19)111 138 (27)(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)438 437 440 440 438 1— —— 437 438 (1)— 
Average tangible assets (non-GAAP)
N
$221,371 $216,349 $213,375 $211,244 $209,778 $5,0222%$11,5936%$218,874 $209,102 $9,7725%
Return on average total assets (GAAP)
L/M
1.03%0.94%0.95%0.90%0.80%9  bps23  bps0.98 %0.75 %23  bps
Return on average total tangible assets (non-GAAP)
L/N
1.06%0.97%0.98%0.93%0.83%9  bps23  bps1.02 %0.78 %24  bps
Common equity ratio and tangible common equity ratio:
Total assets (GAAP)
O
$233,836 $227,918 $226,351 $222,747 $218,310 $5,9183 %$15,5267%$233,836 $218,310 $15,5267%
Less: Goodwill (GAAP)8,220 8,221 8,187 8,187 8,187 (1)— 33— 8,220 8,187 33— 
Less: Other intangible assets (GAAP)105 112 115 123 128 (7)(6)(23)(18)105 128 (23)(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)438 437 437 440 440 1— (2)— 438 440 (2)— 
Tangible assets (non-GAAP)
P
$225,949 $220,022 $218,486 $214,877 $210,435 $5,9273%$15,5147%$225,949 $210,435 $15,5147%
Common equity ratio (GAAP)
D/O
10.3 %10.6 %10.7 %10.6 %10.6 %(27) bps(30) bps10.3 %10.6 %(30) bps
Tangible common equity ratio (non-GAAP)
E/P
7.2 7.3 7.5 7.4 7.2 (10) bps(4) bps7.2 7.2 (4) bps

21

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

7 documents

Press Releases

Other Documents