シチズンズファイナンシャルの適時開示・決算・その他

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): April 16, 2026

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


Delaware		001-36636	05-0412693
(State or Other Jurisdiction of Incorporation)		(Commission File Number)	(I.R.S. Employer Identification Number)

One Citizens Plaza
Providence,	RI		02903
(Address of principal executive offices)			(Zip Code)

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

Not Applicable

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

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

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

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

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

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

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


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

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

Emerging growth company ☐

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

Item 2.02 Results of Operations and Financial Condition.

On April 16, 2026, Citizens Financial Group, Inc. (the “Company”) issued a press release announcing its first quarter 2026 earnings and posted on its website the press release and a financial supplement. Copies of the press release and financial supplement are being furnished as Exhibits 99.1 and 99.3, respectively.

Item 7.01 Regulation FD Disclosure.

For the benefit of investors, the Company has posted on its website an investor presentation in connection with its earnings conference call. A copy of the investor presentation is being furnished as Exhibit 99.2.

The information in this Form 8-K and Exhibits attached hereto are being furnished pursuant to Items 2.02 and 7.01, respectively, and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall this information be deemed incorporated by reference into any filings under the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.


	Exhibit Number	Description

(d)	Exhibit 99.1	Citizens Financial Group, Inc. press release dated April 16 , 2026

	Exhibit 99.2	Citizens Financial Group, Inc. earnings release presentation issued April 16 , 2026

	Exhibit 99.3	Citizens Financial Group, Inc. financial supplement for f irst quarter 202 6

	Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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


CITIZENS FINANCIAL GROUP, INC.

By:						/s/ Aunoy Banerjee
						Aunoy Banerjee
						Executive Vice President and Chief Financial Officer

Date: April 16, 2026

EX-99.1 2 a1q26earningsrelease.htm EX-99.1 Document

Citizens Financial Group, Inc. Reports First Quarter 2026 Net Income of

$517 million, up 39% YoY, and EPS of $1.13, up 47% YoY

Positive Operating Leverage of 7.2% YoY


	Key Financial Data	1Q26			4Q25			1Q25			First Quarter 2026 Highlights

Income Statement	($s in millions)										■EPS of $1.13; ROTCE of 12.2% –Continued strong Private Bank progress, contributing $0.11 to EPS ■PPNR of $790 million, down 3% QoQ, up 27% YoY –NII up 1.6% QoQ as NIM continues to expand, up 7 bps to 3.14%; NII up 12%, NIM up 24 bps YoY –Fees up 11% YoY driven by Capital Markets and Wealth; down 2% QoQ, reflecting seasonality and market dynamics –Positive operating leverage of 7.2% YoY ■Loans up 1% QoQ on a spot and average basis with growth led by Commercial and Private Bank –Lower Non-Core runoff and balance sheet optimization impacts ■Continuing favorable credit trends; net charge-offs of 39 bps, down 4 bps QoQ ■Strong ACL coverage of 1.52% ■Average deposits up 1% QoQ driven by growth in Private Bank –Private Bank spot deposits of $16.6 billion –Interest-bearing deposit costs down 16 bps QoQ ■Strong liquidity profile; spot LDR of 78.1% ■Strong CET1 ratio of 10.5%; 9.3% adjusted for AOCI opt-out removal ■TBV/share of $37.94 broadly stable QoQ
	Total revenue	$	2,168		$	2,157		$	1,935
	Pre-provision profit	790			814			621

	Provision for credit losses	140			137			153

	Net income	517			528			373






Balance Sheet & Credit Quality	($s in billions)
	Period-end loans and leases	$	143.7		$	142.7		$	137.6
	Average loans and leases	143.4			141.8			139.7
	Period-end deposits	184.0			183.3			177.6
	Average deposits	181.3			179.9			172.7
	Loan-to-deposit ratio (spot)	78.1		%	77.8		%	77.5		%

	NCO ratio	0.39		%	0.43		%	0.58		%

Financial Metrics	Diluted EPS	$	1.13		$	1.13		$	0.77

	ROTCE	12.2		%	12.2		%	9.6		%

	Net interest margin, FTE	3.14			3.07			2.90
	Efficiency ratio	63.6			62.2			67.9

	CET1	10.5		%	10.6		%	10.6		%
	TBV/Share	$	37.94		$	38.07		$	33.97


Comments from Chairman and CEO Bruce Van Saun

“We are pleased to get off to a strong start in 2026 notwithstanding heightened geopolitical tensions and uncertainty in the macro environment,” said Chairman and CEO Bruce Van Saun. “Our financial results in a seasonally soft quarter were good, with year-over-year EPS growth of 47%, positive operating leverage of 7%, NIM expansion of 7 bps sequentially and 24 bps versus a year ago, and a robust balance sheet position. Credit is trending favorably, the Private Bank continues to grow nicely, and Reimagine the Bank is off to a great start. We continue to be well-positioned to deliver a strong year and reach our medium-term targets.”

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 May 14, 2026 to shareholders of record at the close of business on April 30, 2026.

Citizens Financial Group, Inc.

Earnings highlights(1):


	Quarterly Trends
										1Q26 change from
($s in millions, except per share data)	1Q26			4Q25			1Q25			4Q25					1Q25
Earnings										$/bps/%			%		$/bps/%			%
Net interest income	$	1,562		$	1,537		$	1,391		$	25		2	%	$	171		12	%
Noninterest income	606			620			544			(14)			(2)		62			11
Total revenue	2,168			2,157			1,935			11			1		233			12
Noninterest expense	1,378			1,343			1,314			35			3		64			5
Pre-provision profit	790			814			621			(24)			(3)		169			27
Provision for credit losses	140			137			153			3			2		(13)			(8)

Net income	517			528			373			(11)			(2)		144			39
Preferred dividends/other	33			39			33			(6)			(15)		—			—
Net income available to common stockholders	$	484		$	489		$	340		$	(5)		(1)	%	$	144		42	%



Average common shares outstanding
Basic (in millions)	425.3			429.5			438.3			(4.1)			(1)		(13.0)			(3)
Diluted (in millions)	429.9			434.1			442.2			(4.2)			(1)		(12.3)			(3)
Diluted earnings per share	1.13			1.13			0.77			—			—		0.36			47

Performance metrics
Net interest margin	3.14		%	3.06		%	2.89		%	8		bps			25		bps
Net interest margin, FTE	3.14			3.07			2.90			7					24
Effective income tax rate	20.5			22.0			20.3			(157)					20

Efficiency ratio	63.6			62.2			67.9			131					(436)



Return on average tangible common equity	12.2			12.2			9.6			1					255


Return on average total tangible assets	0.97		%	0.98		%	0.73		%	(1)		bp			24		bps

Capital adequacy(2,3)
Common equity tier 1 capital ratio	10.5		%	10.6		%	10.6		%
Total capital ratio	13.7			13.8			13.9
Tier 1 leverage ratio	9.3			9.5			9.4
Tangible common equity ratio	7.3			7.5			7.0
Allowance for credit losses to loans and leases	1.52		%	1.53		%	1.61		%	(1)		bp			(9)		bps
Asset quality(3)
Nonaccrual loans and leases to loans and leases	1.04		%	1.05		%	1.15		%	(1)		bp			(11)		bps
Allowance for credit losses to nonaccrual loans and leases	146			145			140			1		%			6		%
Net charge-offs as a % of average loans and leases	0.39		%	0.43		%	0.58		%	(4)		bps			(19)		bps

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

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

(2) Current reporting-period regulatory capital ratios are preliminary.

(3) Capital adequacy and asset-quality ratios calculated on a period-end basis, except net charge-offs.

Citizens Financial Group, Inc.

Consolidated balance sheet summary(1):


										1Q26 change from
($s in millions)	1Q26			4Q25			1Q25			4Q25					1Q25
										$/bps			%		$/bps			%
Total assets	$	227,918		$	226,351		$	220,148		$	1,567		1	%	$	7,770		4	%
Total loans and leases	143,667			142,692			137,635			975			1		6,032			4
Total loans held for sale	1,537			1,198			2,820			339			28		(1,283)			(45)
Deposits	184,035			183,313			177,576			722			—		6,459			4

Stockholders' equity	26,172			26,317			24,866			(145)			(1)		1,306			5
Stockholders' common equity	24,061			24,206			22,753			(145)			(1)		1,308			6
Tangible common equity	$	16,165		$	16,341		$	14,867		$	(176)		(1)	%	$	1,298		9	%
Loan-to-deposit ratio (period-end)(2)	78.1		%	77.8		%	77.5		%	23		bps			56		bps
Loan-to-deposit ratio (average)(2)	79.1		%	78.8		%	80.9		%	27		bps			(180)		bps


(1) Represents period-end unless otherwise noted.
(2) Excludes loans held for sale.

Citizens Financial Group, Inc.

Discussion of results:


Net interest income										1Q26 change from
($s in millions)	1Q26			4Q25			1Q25			4Q25					1Q25
										$/bps			%		$/bps			%
Interest income:
Interest and fees on loans and leases and loans held for sale	$	1,905		$	1,923		$	1,845		$	(18)		(1)	%	$	60		3	%
Investment securities	424			434			418			(10)			(2)		6			1
Interest-bearing deposits in banks	91			89			89			2			2		2			2
Total interest income	$	2,420		$	2,446		$	2,352		$	(26)		(1)	%	$	68		3	%
Interest expense:
Deposits	$	715		$	781		$	795		$	(66)		(8)	%	$	(80)		(10)	%


Short-term borrowed funds	4			—			8			4			100		(4)			(50)
Long-term borrowed funds	139			128			158			11			9		(19)			(12)
Total interest expense	$	858		$	909		$	961		$	(51)		(6)	%	$	(103)		(11)	%
Net interest income	$	1,562		$	1,537		$	1,391		$	25		2	%	$	171		12	%

Net interest margin, FTE	3.14		%	3.07		%	2.90		%	7		bps			24		bps


First quarter 2026			vs.			fourth quarter 2025

Net interest income of $1.6 billion increased 1.6%, reflecting a higher net interest margin along with a 1% increase in average interest-earning assets, partially offset by the day count impact of $22 million.

•Net interest margin of 3.14% increased 7 basis points, reflecting the benefit of lower terminated swap impacts and Non-Core runoff, fixed-rate asset repricing and improved funding costs, partially offset by lower asset yields.

•Interest-bearing deposit costs decreased 16 basis points to 2.04%; total deposit costs decreased 12 basis points to 1.60%; total cost of funds decreased 10 basis points to 1.80%.


First quarter 2026			vs.			first quarter 2025

Net interest income of $1.6 billion increased 12%, primarily reflecting a higher net interest margin, as well as a 4% increase in interest-earning assets.

•Net interest margin of 3.14% increased 24 basis points, largely driven by the benefit of Non-Core runoff and terminated swap impacts, fixed-rate asset repricing and improved funding costs, partially offset by lower asset yields.

Citizens Financial Group, Inc.


Noninterest Income							1Q26 change from
($s in millions)	1Q26		4Q25		1Q25		4Q25				1Q25
							$		%		$		%

Service charges and fees	$	112	$	112	$	109	$	—	—	%	$	3	3	%
Capital markets fees	134		140		100		(6)		(4)		34		34
Wealth fees	100		98		81		2		2		19		23
Card fees	83		86		83		(3)		(3)		—		—
Mortgage banking fees	42		52		59		(10)		(19)		(17)		(29)
Foreign exchange and derivative products	44		34		39		10		29		5		13
Letter of credit and loan fees	50		49		44		1		2		6		14
Securities gains, net	7		7		7		—		—		—		—
Other income(1)	34		42		22		(8)		(19)		12		55
Noninterest income	$	606	$	620	$	544	$	(14)	(2)	%	$	62	11	%







(1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented.


First quarter 2026			vs.			fourth quarter 2025

Noninterest income of $606 million decreased $14 million, or 2%.

•Capital markets fees decreased $6 million relative to a seasonally strong fourth quarter. Notwithstanding heightened geopolitical tensions and uncertainty in the macro environment, fees posted a record first quarter. Results reflect lower loan syndication fees, partially offset by higher M&A and bond underwriting fees.

•Wealth fees increased $2 million, reflecting higher advisory fees.

•Card fees decreased $3 million, given seasonal impacts.

•Mortgage banking fees decreased $10 million, reflecting lower MSR valuation results, net of hedge impact, partially offset by slightly higher servicing and production revenue.

•FX and derivative products increased $10 million, reflecting higher client commodities and interest rate hedging activity.

•Other income decreased $8 million, given higher small revenue items in the prior quarter.


First quarter 2026			vs.			first quarter 2025

Noninterest income of $606 million increased $62 million, or 11%.

•Capital markets fees increased $34 million, driven by higher M&A, loan syndication and equity underwriting fees.

•Wealth fees increased $19 million, primarily reflecting growth in AUM, largely from net inflows.

•Mortgage banking fees decreased $17 million, reflecting lower MSR valuation results, net of hedge impact, and lower servicing revenue, partially offset by higher production revenue.

•Other income increased $12 million, given favorable performance across several small revenue items.

Citizens Financial Group, Inc.


Noninterest Expense							1Q26 change from
($s in millions)	1Q26		4Q25		1Q25		4Q25				1Q25
							$		%		$		%
Salaries and employee benefits	$	758	$	716	$	696	$	42	6	%	$	62	9	%
Equipment and software	197		199		194		(2)		(1)		3		2
Outside services	162		148		155		14		9		7		5
Occupancy	114		109		112		5		5		2		2
Other operating expense	147		171		157		(24)		(14)		(10)		(6)
Noninterest expense	$	1,378	$	1,343	$	1,314	$	35	3	%	$	64	5	%


First quarter 2026			vs.			fourth quarter 2025

Noninterest expense of $1.4 billion increased 2.6%.

•Salaries and employee benefits increased $42 million, primarily reflecting a seasonal increase in payroll taxes.

•Outside services increased $14 million, primarily driven by higher technology-related costs and costs to implement the Reimagine the Bank program.

•Other operating expense decreased $24 million, reflecting lower fraud losses and seasonal factors.

The effective tax rate was 20.5% in first quarter 2026 compared with 22.0% in fourth quarter 2025, primarily driven by discrete tax benefits recognized in the first quarter.


First quarter 2026			vs.			first quarter 2025

Noninterest expense of $1.4 billion increased 5%.

•Salaries and employee benefits increased $62 million, reflecting hiring related to the Private Bank and Private Wealth buildout, and strong Capital Markets fee performance.

•Equipment and software increased $3 million, reflecting technology investments.

•Outside services increased $7 million, primarily driven by costs to implement the Reimagine the Bank program.

•Other operating expense decreased $10 million, reflecting the impact of various favorable sundry items.

The effective tax rate was 20.5% in first quarter 2026 compared with 20.3% in first quarter 2025.

Citizens Financial Group, Inc.


Interest-earning assets							1Q26 change from
($s in millions)	1Q26		4Q25		1Q25		4Q25				1Q25
Period-end interest-earning assets							$		%		$		%
Investments	$	45,218	$	44,650	$	43,544	$	568	1	%	$	1,674	4	%
Interest-bearing deposits in banks	12,076		12,224		11,144		(148)		(1)		932		8
Commercial loans and leases	74,589		73,812		70,508		777		1		4,081		6
Retail loans	69,078		68,880		67,127		198		—		1,951		3
Total loans and leases	143,667		142,692		137,635		975		1		6,032		4
Loans held for sale	1,537		1,198		2,820		339		28		(1,283)		(45)

Total loans and leases and loans held for sale	145,204		143,890		140,455		1,314		1		4,749		3
Total period-end interest-earning assets	$	202,498	$	200,764	$	195,143	$	1,734	1	%	$	7,355	4	%
Average interest-earning assets(1)
Investments	$	46,929	$	46,731	$	46,069	$	198	—	%	$	860	2	%
Interest-bearing deposits in banks	10,079		9,156		8,092		923		10		1,987		25
Commercial loans and leases	74,541		73,151		70,612		1,390		2		3,929		6
Retail loans	68,869		68,606		69,098		263		—		(229)		—
Total loans and leases	143,410		141,757		139,710		1,653		1		3,700		3
Loans held for sale	1,511		1,523		1,187		(12)		(1)		324		27

Total loans and leases and loans held for sale	144,921		143,280		140,897		1,641		1		4,024		3
Total average interest-earning assets	$	201,929	$	199,167	$	195,058	$	2,762	1	%	$	6,871	4	%
(1) Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments.


First quarter 2026			vs.			fourth quarter 2025

Period-end interest-earning assets of $202.5 billion increased $1.7 billion, or 1%, reflecting a $568 million increase in investments in securities and 1% growth in loans and leases. Total loans and leases increased $975 million, 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 $201.9 billion increased $2.8 billion, or 1%, reflecting a $1.7 billion increase in total loans and leases and a $923 million increase in cash held in interest-bearing deposits.

The average effective duration of the securities portfolio was 4.0 years, compared with 3.8 years at December 31, 2025 and 3.6 years at March 31, 2025.


First quarter 2026			vs.			first quarter 2025

Period-end interest-earning assets of $202.5 billion increased $7.4 billion, or 4%, reflecting a $1.7 billion increase in investments in securities, a $932 million increase in cash held in interest-bearing deposits and a $4.7 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 $4.1 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 $2.0 billion, reflecting growth in home equity and mortgage, partially offset by Non-Core portfolio runoff.

Average interest-earning assets of $201.9 billion increased $6.9 billion, primarily reflecting a $4.0 billion increase in total loans and leases and loans held for sale, as well as $2.0 billion increase in cash held as interest-bearing deposits and a $860 million increase in investments in securities.

Citizens Financial Group, Inc.


Deposits							1Q26 change from
($s in millions)	1Q26		4Q25		1Q25		4Q25				1Q25
Period-end deposits							$		%		$		%
Noninterest-bearing demand	$	41,672	$	40,417	$	37,556	$	1,255	3	%	$	4,116	11	%
Checking with interest	37,675		37,428		34,456		247		1		3,219		9
Savings	24,114		24,353		25,765		(239)		(1)		(1,651)		(6)
Money market	59,611		60,062		55,996		(451)		(1)		3,615		6
Time	20,963		21,053		23,803		(90)		—		(2,840)		(12)
Total period-end deposits	$	184,035	$	183,313	$	177,576	$	722	—	%	$	6,459	4	%
Average deposits
Noninterest-bearing demand	$	39,286	$	38,993	$	36,543	$	293	1	%	$	2,743	8	%
Checking with interest	37,027		36,257		32,693		770		2		4,334		13
Savings	24,095		24,477		25,760		(382)		(2)		(1,665)		(6)
Money market	60,141		58,904		54,432		1,237		2		5,709		10
Time	20,766		21,226		23,277		(460)		(2)		(2,511)		(11)
Total average deposits	$	181,315	$	179,857	$	172,705	$	1,458	1	%	$	8,610	5	%


First quarter 2026			vs.			fourth quarter 2025

Total period-end deposits of $184.0 billion are broadly stable, with growth in Private Bank and retail partially offset by lower commercial deposits given seasonality. Private Bank deposits reached $16.6 billion at the end of first quarter 2026.

Average deposits of $181.3 billion increased 1%, primarily driven by growth in Private Bank.


First quarter 2026			vs.			first quarter 2025

Total period-end deposits of $184.0 billion increased 4%, primarily reflecting growth in Private Bank of $7.9 billion, and $1.9 billion in Commercial, partially offset by a $2.4 billion reduction in higher-cost Treasury brokered deposits.

Average deposits of $181.3 billion were up 5%.

Citizens Financial Group, Inc.


Borrowed Funds							1Q26 change from
($s in millions)	1Q26		4Q25		1Q25		4Q25				1Q25
Period-end borrowed funds							$		%		$		%
Short-term borrowed funds	$	54	$	58	$	47	$	(4)	(7) %		$	7	15	%
Long-term borrowed funds
FHLB advances	2,513		2,014		42		499		25		2,471		NM
Senior debt	7,076		6,328		7,568		748		12		(492)		(7)
Subordinated debt and other debt	1,419		1,284		1,772		135		11		(353)		(20)
Auto collateralized borrowings	1,252		1,598		2,885		(346)		(22)		(1,633)		(57)
Total borrowed funds	$	12,314	$	11,282	$	12,314	$	1,032	9	%	$	—	—	%
Average borrowed funds
Short-term borrowed funds	$	454	$	221	$	675	$	233	105 %		$	(221)	(33)	%
Long-term borrowed funds
FHLB advances	1,408		35		595		1,373		NM		813		137
Senior debt	6,843		6,642		7,133		201		3		(290)		(4)
Subordinated debt and other debt	1,415		1,405		1,809		10		1		(394)		(22)
Auto collateralized borrowings	1,409		1,774		3,120		(365)		(21)		(1,711)		(55)
Total average borrowed funds	$	11,529	$	10,077	$	13,332	$	1,452	14	%	$	(1,803)	(14)	%


First quarter 2026			vs.			fourth quarter 2025

Period-end borrowed funds increased $1.0 billion, reflecting an increase in senior debt and subordinated debt of $748 million and $135 million, respectively, given net issuances, and an increase of FHLB advances of $499 million, partially offset by a $346 million decrease in collateralized borrowings on auto loans as the associated portfolio runs down.

Average borrowed funds increased $1.5 billion, driven primarily by an increase in FHLB advances and short-term borrowed funds of $1.4 billion and $233 million, respectively, as well as an increase in senior debt of $201 million, partially offset by a $365 million decrease in auto collateralized borrowings.


First quarter 2026			vs.			first quarter 2025

Period-end borrowed funds were stable, reflecting an increase in FHLB advances of $2.5 billion, offset by a decrease of $1.6 billion in auto collateralized borrowings, given runoff of the associated portfolio, and decreases of $492 million and $353 million in senior debt and subordinated debt, respectively, given the impact of redemptions.

Average borrowed funds decreased by $1.8 billion, given a $1.7 billion decrease in auto collateralized borrowings, and decreases in senior and subordinated debt of $290 million and $394 million respectively, given the impact of redemptions. These results were partially offset by an increase in FHLB advances of $813 million.

Citizens Financial Group, Inc.


Capital										1Q26 change from
($s and shares in millions, except per share data)	1Q26			4Q25			1Q25			4Q25				1Q25
Period-end capital										$		%		$		%
Stockholders' equity	$	26,172		$	26,317		$	24,866		$	(145)	(1)	%	$	1,306	5	%
Stockholders' common equity	24,061			24,206			22,753			(145)		(1)		1,308		6
Tangible common equity	16,165			16,341			14,867			(176)		(1)		1,298		9
Tangible book value per common share	$	37.94		$	38.07		$	33.97		$	(0.13)	—	%	$	3.97	12	%
Common shares - at end of period	426.0			429.2			437.7			(3.2)		(1)		(11.6)		(3)
Common shares - average (diluted)	429.9			434.1			442.2			(4.2)		(1)	%	(12.3)		(3)	%
Common equity tier 1 capital ratio(1)	10.5		%	10.6		%	10.6		%
Total capital ratio(1)	13.7			13.8			13.9
Tangible common equity ratio	7.3			7.5			7.0
Tier 1 leverage ratio(1)	9.3			9.5			9.4
(1) Current reporting-period regulatory capital ratios are preliminary.


First quarter 2026

•The CET1 capital ratio of 10.5% as of March 31, 2026 compares with 10.6% at December 31, 2025 and March 31, 2025.

•Total capital ratio of 13.7% compares with 13.8% at December 31, 2025 and 13.9% as of March 31, 2025.

•Tangible common equity ratio of 7.3% compares with 7.5% at December 31, 2025 and 7.0% as of March 31, 2025.

•Tangible book value per common share of $37.94 was broadly stable with fourth quarter 2025.

•Paid $198 million in common dividends to shareholders during first quarter 2026. This compares with $201 million in common dividends during fourth quarter 2025 and $186 million during first quarter 2025.

•Repurchased $300 million of common shares during first quarter 2026, compared with $125 million in fourth quarter 2025 and $200 million in first quarter 2025.

Citizens Financial Group, Inc.


Credit quality review										1Q26 change from
($s in millions)	1Q26			4Q25			1Q25			4Q25					1Q25
										$/bps/%			%		$/bps/%			%
Nonaccrual loans and leases(1)	$	1,497		$	1,504		$	1,582		$	(7)		—	%	$	(85)		(5)	%
90+ days past due and accruing(2)	208			169			155			39			23		53			34
Net charge-offs	138			155			200			(17)			(11)		(62)			(31)
Provision for credit losses	140			137			153			3			2		(13)			(8)

Allowance for credit losses	$	2,185		$	2,183		$	2,212		$	2		—	%	$	(27)		(1)	%
Nonaccrual loans and leases to loans and leases	1.04		%	1.05		%	1.15		%	(1)		bp			(11)		bps
Net charge-offs as a % of total loans and leases	0.39			0.43			0.58			(4)					(19)

Allowance for credit losses to loans and leases	1.52			1.53			1.61			(1)					(9)

Allowance for credit losses to nonaccrual loans and leases	146		%	145		%	140		%	1		%			6		%
(1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.
(2) 90+ days past due and accruing includes $179 million, $141 million, and $137 million of loans fully or partially guaranteed by the FHA, VA, and USDA for March 31, 2026, December 31, 2025, and March 31, 2025, respectively.


First quarter 2026			vs.			fourth quarter 2025

•Nonaccrual loans of $1.5 billion decreased modestly. The nonaccrual loans to total loans ratio of 1.04% compares with 1.05% at December 31, 2025.

•Net charge-offs of $138 million, or 39 basis points of average loans and leases, compares with 43 basis points in the prior quarter, with the decrease driven by retail and commercial real estate.

•The first quarter 2026 provision for credit losses of $140 million compares with $137 million for fourth quarter 2025.

•The ratio of allowance for credit losses to total loans of 1.52% was slightly down compared with 1.53% as of December 31, 2025 reflecting improved loan mix given the continued reduction in the Non-Core portfolio and a decrease in commercial real estate balances, with originations primarily in C&I and retail real estate secured that have a lower loss content profile.

•The allowance for credit losses to nonaccrual loans and leases ratio of 146% is stable with December 31, 2025.


First quarter 2026			vs.			first quarter 2025

•Nonaccrual loans decreased 5% driven largely by a 12% decrease in commercial. The nonaccrual loans to total loans ratio of 1.04% compares with 1.15% at March 31, 2025.

•Net charge-offs of $138 million, or 39 basis points of average loans and leases compares with 58 basis points for first quarter 2025. This reflects a decrease in retail, given charge-offs associated with a loan sale in first quarter 2025, and a decrease in commercial real estate.

•Provision for credit losses of $140 million decreased compared with a $153 million provision in first 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 $27 million compared with March 31, 2025 given the benefit of the sale of Non-Core education loans, continued Non-Core runoff and other improvements in loan mix. Allowance for credit losses ratio of 1.52% as of March 31, 2026 compares with 1.61% as of March 31, 2025.

•The allowance for credit losses to nonaccrual loans and leases ratio of 146% compares with 140% as of March 31, 2025.

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 April 16, 2026 through May 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 $227.9 billion in assets as of March 31, 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.

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.

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations

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


		QUARTERLY TRENDS
								1Q26 Change
		1Q26		4Q25		1Q25		4Q25				1Q25
								$/bps		%		$/bps		%
Pre-provision profit:
Total revenue (GAAP)	A	$2,168		$2,157		$1,935		$11		1	%	$233		12	%
Less: Noninterest expense (GAAP)	B	1,378		1,343		1,314		35		3		64		5
Pre-provision profit (non-GAAP)		$790		$814		$621		($24)		(3	%)	$169		27	%
Operating leverage:
Total revenue (GAAP)	A	$2,168		$2,157		$1,935		$11		0.53	%	$233		12.11	%
Less: Noninterest expense (GAAP)	B	1,378		1,343		1,314		35		2.65		64		4.91
Operating leverage										(2.12	%)			7.20	%
Efficiency ratio:
Efficiency ratio	B/A	63.55	%	62.24	%	67.91	%	131	bps			(436)	bps
Book value per common share and tangible book value per common share:
Common shares - at period-end (GAAP)	C	426,023,578		429,242,174		437,668,127		(3,218,596)		(1	%)	(11,644,549)		(3	%)
Common stockholders' equity (GAAP)	D	$24,061		$24,206		$22,753		($145)		(1)		$1,308		6
Less: Goodwill (GAAP)		8,221		8,187		8,187		34		—		34		—
Less: Other intangible assets (GAAP)		112		115		137		(3)		(3)		(25)		(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		437		438		—		—		(1)		—
Tangible common equity (non-GAAP)	E	$16,165		$16,341		$14,867		($176)		(1	%)	$1,298		9	%
Book value per common share (GAAP)	D/C	$56.48		$56.39		$51.99		$0.09		—	%	$4.49		9	%
Tangible book value per common share (non-GAAP)	E/C	37.94		38.07		33.97		(0.13)		—		3.97		12
Net interest income and net interest margin on an FTE basis:
Net interest income (annualized) (GAAP)	F	$6,337		$6,098		$5,637		$239		4	%	$700		12	%
Average interest-earning assets (GAAP)	G	201,929		199,167		195,058		2,762		1		6,871		4
Net interest margin (GAAP)	F/G	3.14	%	3.06	%	2.89	%	8	bps			25	bps
Net interest income (GAAP)		$1,562		$1,537		$1,391		$25		2	%	$171		12	%
FTE adjustment		3		4		4		(1)		(25)		(1)		(25)
Net interest income on an FTE basis (non-GAAP)		1,565		1,541		1,395		24		2		170		12
Net interest income on an FTE basis (annualized) (non-GAAP)	H	6,350		6,112		5,653		238		4		697		12
Net interest margin on an FTE basis (non-GAAP)	H/G	3.14	%	3.07	%	2.90	%	7	bps			24	bps
Return on average common equity and return on average tangible common equity:
Net income available to common stockholders (GAAP)	I	$484		$489		$340		($5)		(1	%)	$144		42	%
Average common equity (GAAP)	J	$23,995		$23,823		$22,188		$172		1		$1,807		8
Less: Average goodwill (GAAP)		8,198		8,187		8,187		11		—		11		—
Less: Average other intangibles (GAAP)		114		120		142		(6)		(5)		(28)		(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		440		438		(3)		(1)		(1)		—
Average tangible common equity (non-GAAP)	K	$16,120		$15,956		$14,297		$164		1	%	$1,823		13	%
Return on average common equity (GAAP)	I/J	8.19	%	8.16	%	6.21	%	3	bps			198	bps
Return on average tangible common equity (non-GAAP)	I/K	12.19	%	12.18	%	9.64	%	1	bps			255	bps
Return on average total assets and return on average total tangible assets:
Net income (GAAP)	L	$517		$528		$373		($11)		(2	%)	$144		39	%
Average total assets (GAAP)	M	$224,224		$221,242		$216,309		$2,982		1		$7,915		4
Less: Average goodwill (GAAP)		8,198		8,187		8,187		11		—		11		—
Less: Average other intangibles (GAAP)		114		120		142		(6)		(5)		(28)		(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		440		438		(3)		(1)		(1)		—
Average tangible assets (non-GAAP)	N	$216,349		$213,375		$208,418		$2,974		1	%	$7,931		4	%
Return on average total assets (GAAP)	L/M	0.94	%	0.95	%	0.70	%	(1)	bps			24	bps
Return on average total tangible assets (non-GAAP)	L/N	0.97	%	0.98	%	0.73	%	(1)	bps			24	bps

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations (continued)

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


		QUARTERLY TRENDS
								1Q26 Change
		1Q26		4Q25		1Q25		4Q25			1Q25
								$/bps	%		$/bps	%
Common equity ratio and tangible common equity ratio:
Total assets (GAAP)	O	$227,918		$226,351		$220,148		$1,567	1	%	$7,770	4	%
Less: Goodwill (GAAP)		8,221		8,187		8,187		34	—		34	—
Less: Other intangible assets (GAAP)		112		115		137		(3)	(3)		(25)	(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		437		438		—	—		(1)	—
Tangible assets (non-GAAP)	P	$220,022		$218,486		$212,262		$1,536	1	%	$7,760	4	%
Common equity ratio (GAAP)	D/O	10.6	%	10.7	%	10.3	%	(13) bps			22 bps
Tangible common equity ratio (non-GAAP)	E/P	7.3		7.5		7.0		(20) bps			30 bps

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations (continued)

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




		1Q26

CET1 Ratio adjusted for AOCI opt-out removal
CET1 capital		$	18,178
Less: AFS securities - AOCI		1,027
HTM securities - AOCI(1)		657
DTA for AFS/HTM securities		35

Pension		245
DTA for Pension		3
CET 1 capital adjusted for AOCI opt-out removal	A	$16,211

Risk-weighted assets		173,268
Less: HTM securities - AOCI		113
AFS securities - AOCI		167
DTA for AFS/HTM securities		(1,471)
Pension		245
DTA for Pension		(216)
Risk-weighted assets adjusted for AOCI opt-out removal	B	$174,430

CET1 Ratio adjusted for AOCI opt-out removal	A/B	9.3		%




(1) HTM securities - AOCI refers to unrealized losses recognized on securities before transfer to HTM

Citizens Financial Group, Inc.

Forward-Looking Statements

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

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

•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.

Citizens Financial Group, Inc.

CFG-IR

EX-99.2 3 a1q26earningspresentatio.htm EX-99.2 a1q26earningspresentatio

1Q26 Financial Results April 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," "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 1Q26 Earnings highlights 1Q26 4Q25 1Q25 Q/Q Y/Y $s in millions $/bps % $/bps % Net interest income $ 1,562 $ 1,537 $ 1,391 $ 25 2 % $ 171 12 % Noninterest income 606 620 544 (14) (2) 62 11 Total revenue 2,168 2,157 1,935 11 1 233 12 Noninterest expense 1,378 1,343 1,314 35 3 64 5 Pre-provision profit 790 814 621 (24) (3) 169 27 Provision for credit losses 140 137 153 3 2 (13) (8) Income before income tax expense 650 677 468 (27) (4) 182 39 Income tax expense 133 149 95 (16) (11) 38 40 Net income $ 517 $ 528 $ 373 $ (11) (2) % $ 144 39 % Preferred dividends/other 33 39 33 (6) (15) — — Net income available to common stockholders $ 484 $ 489 $ 340 $ (5) (1) % $ 144 42 % $s in billions Average interest-earning assets $ 201.9 $ 199.2 $ 195.1 $ 2.8 1 % $ 6.9 4 % Average deposits $ 181.3 $ 179.9 $ 172.7 $ 1.5 1 % $ 8.6 5 % Performance metrics Net interest margin 3.14 % 3.06 % 2.89 % 8 bps 25 bps Net interest margin, FTE(1) 3.14 3.07 2.90 7 24 Loan-to-deposit ratio (period-end) 78.1 77.8 77.5 23 56 ROTCE 12.2 12.2 9.6 1 255 Efficiency ratio 63.6 62.2 67.9 131 (436) Noninterest income as a % of total revenue 28 % 29 % 28 % (80) bps (19) bps Operating leverage (2.12) % 7.20 % Per common share Diluted earnings $ 1.13 $ 1.13 $ 0.77 $ — — % $ 0.36 47 % Tangible book value $ 37.94 $ 38.07 $ 33.97 $ (0.13) — % $ 3.97 12 % Average diluted shares outstanding (in millions) 429.9 434.1 442.2 (4.2) (1) % (12.3) (3) % See pages 28-29 for notes and important information on Non-GAAP Financial Measures.

4 ■ CET1 ratio of 10.5%(1); 9.3% adjusted for AOCI opt-out removal – Share repurchases of $300 million in 1Q26 ■ Strong liquidity profile; spot LDR of 78.1%; average deposits up $1.5 billion, or 1% QoQ driven by growth in Private Bank – Private Bank spot deposits of $16.6 billion – Interest-bearing deposit costs down 16 bps QoQ ■ Loans up 1% QoQ with growth led by Commercial and Private Bank, as Non-Core runoff and balance sheet optimization impacts lessen ■ Continuing favorable credit trends with net charge-offs of 39 bps, down 4 bps QoQ ■ Strong ACL coverage of 1.52% ■ EPS of $1.13, up 47% YoY, reflecting strong PPNR growth ■ ROTCE of 12.2%, stable QoQ, and up 255 bps YoY ■ PPNR of $790 million, down ~3% QoQ; up ~27% YoY – NII up 1.6% QoQ as NIM continues to expand, up 7 bps to 3.14%; NII up 12%, NIM up 24 bps YoY Strong 1Q26 results; EPS up 47%, 7.2% positive operating leverage YoY Strong capital and liquidity position while continuing to repurchase shares Positive trends in loans and credit 1Q26 Overview ■ Private Bank's strong momentum continuing into 2026; contributed $0.11 to 1Q26 EPS; ROE >25%(2); opening new PBOs ■ Good visibility and confidence in driving NII higher with NIM increasing 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) off to a great start; 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 1Q26 QoQ YoY NII $ 1,562 1.6% 12.3% Fees 606 (2.3) 11.4 Expenses 1,378 2.6 4.9 PPNR $ 790 (2.9)% 27.2% See pages 28-29 for notes and important information on Non-GAAP Financial Measures. – Fees up 11% YoY driven by Capital Markets and Wealth; down 2% QoQ, reflecting seasonality and market dynamics ▪ Capital Markets up 34% YoY; Wealth up 23% YoY

5 3.07% 0.05% 0.01% 0.01% 3.14% 4Q25 Terminated swaps & Non-Core impact Fixed-rate asset repricing Balance sheet mix, pricing and other 1Q26 $195.1B $196.3B $197.6B $199.2B $201.9B $1,391 $1,437 $1,488 $1,537 $1,562 2.90% 2.95% 3.00% 3.07% 3.14% 1Q25 2Q25 3Q25 4Q25 1Q26 ■ NII up 1.6%, reflects higher NIM and a 1% increase in average interest-earning assets, partially offset by the day count impact of $22 million – NIM of 3.14%, up 7 bps QoQ, reflecting the benefit of lower terminated swap impacts and Non-Core runoff, fixed-rate asset repricing and improved funding costs, partially offset by lower asset yields ■ Interest-earning assets yield of 4.81%, down 5 bps ■ Interest-bearing deposit costs down 16 bps to 2.04%; cumulative interest-bearing deposit down-beta of ~50% ■ Total deposit costs down 12 bps to 1.60%; total cost of funds down 10 bps to 1.80% Net interest income NII and NIM Average interest-earning assets Net interest income NIM, FTE Linked Quarter NIM 4Q25 to 1Q26 $s in millions, except earning assets *

6 $544 $600 $630 $620 $606 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest income $s in millions Linked Quarter Year-Over-Year Noninterest income $s in millions 1Q26 4Q25 1Q25 $ Q/Q Y/Y Service charges and fees $ 112 $ 112 $ 109 $ — $ 3 Capital markets fees 134 140 100 (6) 34 Wealth fees 100 98 81 2 19 Card fees 83 86 83 (3) — Mortgage banking fees 42 52 59 (10) (17) FX and derivative products 44 34 39 10 5 Letter of credit and loan fees 50 49 44 1 6 Securities gains, net 7 7 7 — — Other income(1) 34 42 22 (8) 12 Noninterest income $ 606 $ 620 $ 544 $ (14) $ 62 Noninterest income details ■ Noninterest income of $606 million, up 11% – Capital markets fees increased $34 million, or 34%, driven by higher M&A, loan syndications and equity underwriting – Wealth fees increased $19 million, or 23%, primarily reflecting growth in AUM, largely from net inflows – Mortgage banking fees decreased $17 million, reflecting lower MSR valuation results, net of hedge impact – Other income increased $12 million, given favorable performance across several small revenue items +11% YoY -2% QoQ ■ Noninterest income of $606 million, down 2% – Capital markets fees decreased $6 million relative to a seasonally strong fourth quarter. Notwithstanding heightened geopolitical tensions and uncertainty in the macro environment, fees posted a record first quarter. Results reflect lower loan syndication fees, partially offset by higher M&A and bond underwriting fees – Wealth fees increased $2 million reflecting higher advisory fees – Card fees decreased $3 million, given seasonal impacts – Mortgage banking fees decreased $10 million, reflecting lower net MSR valuation results, partially offset by slightly higher servicing and production revenue – FX and derivative products increased $10 million, reflecting higher client commodities and interest rate hedging activity – Other income decreased $8 million, given higher small revenue items in the prior quarter See pages 28-29 for notes.

7 Noninterest expense Linked Quarter Year-Over-Year 1Q26 4Q25 1Q25 $ $s in millions Q/Q Y/Y Salaries & employee benefits $ 758 $ 716 $ 696 $ 42 $ 62 Equipment & software 197 199 194 (2) 3 Outside services 162 148 155 14 7 Occupancy 114 109 112 5 2 Other operating expense 147 171 157 (24) (10) Noninterest expense $ 1,378 $ 1,343 $ 1,314 $ 35 $ 64 Full-time equivalents (FTEs) 17,380 17,398 17,315 (18) 65 Noninterest expense details $1,314 $1,319 $1,335 $1,343 $1,378 67.9% 64.8% 63.0% 62.2% 63.6% Noninterest expense Efficiency ratio 1Q25 2Q25 3Q25 4Q25 1Q26 ■ Noninterest expense of $1.4 billion, up 2.6% – Salaries and benefits increased $42 million, primarily reflecting a seasonal increase in payroll taxes – Outside services increased $14 million, primarily driven by higher technology-related costs and costs to implement the Reimagine the Bank program – Other operating expense decreased $24 million, reflecting lower fraud losses and seasonal factors ■ Noninterest expense of $1.4 billion, up 5% – Salaries and benefits increased $62 million, reflecting hiring related to the Private Bank and Private Wealth buildout, and strong Capital Markets fee performance – Outside services increased $7 million, primarily driven by costs to implement the Reimagine the Bank program – Other operating expense decreased $10 million, reflecting the impact of various favorable sundry items $s in millions Noninterest expense 1Q26 Reimagine the Bank implementation costs of ~$6 million

8 $139.7 $138.8 $140.0 $141.8 $143.4 $6.4 $3.9 $3.3 $2.7 $2.2 $133.3 $134.9 $136.7 $139.1 $141.2 Non-Core Core Loan yield 1Q25 2Q25 3Q25 4Q25 1Q26 ~18% QoQ ■ Period-end loans up 1% – Private Bank growth of $0.6 billion, driven primarily by multi-family and residential mortgage – Commercial* up $0.6 billion, or 1%, given net new money originations in corporate banking and higher commercial line utilization, partially offset by CRE paydowns – Retail* up $0.3 billion, driven by home equity and mortgage – Non-Core loans down $0.5 billion, reflecting continued auto runoff ■ Average loans up 1%; Core loans up 2% ■ Loan yield of 5.28%, down 1 bp Loans and leases $s in billions Average loans and leases $137.6 $139.3 $140.9 $142.7 $143.7 $4.2 $3.6 $3.0 $2.5 $2.0 $133.4 $135.7 $137.9 $140.2 $141.7 Non-Core Core 1Q25 2Q25 3Q25 4Q25 1Q26 $s in billions Period-end loans and leases 5.26% 5.31% 5.35% 5.29% 5.28% Linked Quarter Year-Over-Year ~19% QoQ ~1% QoQ ~2% QoQ *Excludes Non-Core portfolio and Private Bank. See page 31 for details. ■ Period-end loans up $6.0 billion, or 4%, including Non-Core runoff of $2.2 billion; Core loans up $8.3 billion, or 6% – Private Bank growth of $4.1 billion, driven primarily by multi-family and residential mortgage – Retail* up $2.6 billion, driven by home equity and mortgage – Commercial* up $1.6 billion, reflecting net new money originations and higher line utilization, partially offset by CRE paydowns ■ Average loans up $3.7 billion, or 3%; Core loans up 6%

9 $172.7 $174.1 $176.0 $179.9 $181.3 1Q25 2Q25 3Q25 4Q25 1Q26 Deposit performance and cost of funds $s in billions Average deposits 1.87% 1.85% 1.84% 1.72% 1.60% 2.37% 2.35% 2.35% 2.20% 2.04% Total deposit costs Interest-bearing deposit costs CommercialConsumer Treasury/Other Year-Over-YearPeriod-end deposits Linked Quarter ■ Average deposits up $1.5 billion, or 1%, primarily driven by growth in Private Bank ■ Period-end deposits are broadly stable, with growth in Private Bank and retail partially offset by lower commercial deposits given seasonality – Private Bank deposits increased to $16.6 billion ■ Interest-bearing deposit costs down 16 bps to 2.04% – Cumulative interest-bearing deposit down beta of ~50% ■ Total deposit costs down 12 bps ■ Total cost of funds down 10 bps $s in billions ■ Average deposits up $8.6 billion, or 5%, primarily reflecting growth of $8.0 billion in Private Bank and $3.2 billion in Commercial, partially offset by a $2.0 billion reduction in higher-cost Treasury brokered deposits ■ Period-end deposits up $6.5 billion, or 4% ■ Interest-bearing deposit costs down 33 bps ■ Total deposit costs down 27 bps ■ Total cost of funds down 29 bps $177.6 $175.1 $180.0 $183.3 $184.0 Consumer Commercial Treasury/Other 1Q25 2Q25 3Q25 4Q25 1Q26

10 Branch deposits 48% Business Banking 12% Citizens Access 4% Private Bank/ Private Wealth 10% Commercial 24% Treasury/ Other 2% As of 3/31/26 Highly diversified and retail-oriented deposit base $184.0B Period-end deposits Peer Avg(1) Business mix Product mix Strong consumer deposit base(1) (as % of total average deposits) 42% 43% 43% 21% 22% 23% 21% 21% 20% NIB Low-cost deposits 1Q25 4Q25 1Q26 NIB and low-cost deposits (2) 56% 65% 64% 4Q25 4Q25 1Q26 See pages 28-29 for notes. NIB 23% Checking With Interest 20% Savings 9% Citizens Access Savings 4% Money Market 32% Time 12% (as % of total deposits at 3/31/26)

11 $153 $164 $154 $137 $140 $200 $167 $162 $155 $138 0.58% 0.48% 0.46% 0.43% 0.39% Provision for credit losses Net charge-offs Net c/o ratio 1Q25 2Q25 3Q25 4Q25 1Q26 0.51% Credit quality overview $s in millions $s in millions Credit provision expense; net charge-offs $1,582 $1,524 $1,518 $1,504 $1,497 $983 $939 $933 $895 $867 $599 $585 $585 $609 $630 140% 145% 145% 145% 146% Commercial Retail ACL to nonaccrual loans and leases 1Q25 2Q25 3Q25 4Q25 1Q26 Nonaccrual loans Net charge-offs associated with Non-Core transaction $175 Net charge-off ratio - excluding Non-Core transaction Commentary ■ Net charge-offs of $138 million, or 39 bps of average loans, down from $155 million, or 43 bps, in 4Q25, driven by decreases in retail and commercial real estate ■ Nonaccrual loans of $1.5 billion are down modestly QoQ, as improvement in Commercial, largely C&I, was partially offset by increases in retail, largely mortgage

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 – A slight deterioration compared to the prior quarter economic forecast, which contemplates a mild recession ◦ The potential impact of higher oil prices has been considered ◦ 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 work-outs – ACL coverage for CRE General Office of 9.1%, 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 4Q25 Allowance for credit losses $2,212 $2,209 $2,201 $2,183 $2,185 1.34% 1.39% 1.37% 1.35% 1.27% 1.86% 1.77% 1.74% 1.70% 1.75% Retail Commercial Retail ACL Commercial ACL 1Q25 2Q25 3Q25 4Q25 1Q26 $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 1.61% 1.59% 1.56% 1.53% 1.52% Total ACL ratio See pages 28-29 for notes. (1)

13 Strong capital position $s in billions (period-end) 1Q25 2Q25 3Q25 4Q25 1Q26 Basel III basis(1) Common equity tier 1 capital $ 17.8 $ 17.8 $ 18.0 $ 18.2 $ 18.2 Risk-weighted assets $ 166.9 $ 168.0 $ 168.9 $ 171.5 $ 173.3 Common equity tier 1 ratio 10.6 % 10.6 % 10.7 % 10.6 % 10.5 % Tier 1 capital ratio 11.9 % 11.9 % 11.9 % 11.9 % 11.7 % Total capital ratio 13.9 % 13.8 % 13.9 % 13.8 % 13.7 % Tangible common equity ratio 7.0 % 7.2 % 7.4 % 7.5 % 7.3 % TBV/share CET1 $ % 4Q25 10.64% $38.07 Net Income 0.30 1.21 3.2% Common and preferred dividends (0.13) (0.55) (1.4) RWA increase (0.11) Treasury stock (0.18) (0.28) (0.7) Goodwill and intangibles (0.02) (0.07) (0.2) AOCI — (0.28) (0.7) Other (0.01) (0.16) (0.4) Total change (0.15) (0.13) (0.3)% 1Q26 10.49% $37.94 CET1 ratio remains strong(2) Highlights ■ 1Q26 CET1 ratio of 10.5% – 9.3% CET1 ratio adjusted for AOCI opt-out removal ■ TBV/share of $37.94 was broadly stable QoQ – Tangible common equity ratio of 7.3%, down 20 bps QoQ ■ Total capital returned to shareholders was $498 million in 1Q26 – Paid $198 million in common dividends to shareholders – Repurchased $300 million of common stock at a weighted-average price of $62.40 See pages 28-29 for notes.

14 ■ ~33% avg. DDA; ~2% total deposit cost, down ~12 bps QoQ ■ Continued strong client growth in Q1 with ~$2.4 billion increase in average deposits; ~$2.2 billion spot growth Deposits $3.3 $6.3 $7.3 $3.7 $7.2 $7.7 Avg Spot 1Q25 4Q25 1Q26 $7.6 $13.1 $15.6 $8.7 $14.5 $16.6 Avg Spot 1Q25 4Q25 1Q26 Loans Private Bank buildout - financial update Strong momentum early in 2026 $s in billions $5.8 $10.0 $10.1 $5.2 $8.6 $8.7 AUM Transactional assets 1Q25 4Q25 1Q26 As of 3/31/26 $s in billions Client Assets ■ Avg. portfolio yield ~6.1%; ~4% spread over deposit cost ■ 1Q26 loan growth driven by multi-family and residential mortgage (2) (1) (3) 9 Private Bank Offices opened to date; plan to add 2 more by YE2026 $s in billions ■ 10 advisor teams added since launch across key markets ■ Co-locating Private Wealth teams in all Private Bank markets ■ Total Client Assets of $10.1 billion at 1Q26 includes transactional assets of $1.4 billion Operational San Francisco, CA Boston, MA Menlo Park, CA West Palm Beach, FL (2Q26) Mill Valley, CA Palm Beach, FL Laurel Village, CA Greenwich, CT (2H26) San Diego, CA New York, NY Newport Beach, CA Opened in 1Q26 Upcoming expansion See pages 28-29 for notes.

15 Reimagine the Bank - Update ■ Leverage technology innovation to reshape how we serve customers and run the bank ■ Business model simplification to drive focus and deliver cost improvement ■ Tracking well towards targets provided in January ■ Expect minimal EPS impact in 2026 and ~$100 million pre-tax run-rate benefit by year-end 2026 Consumer Commercial Technology Vendor / Property Select examples of the early progress in 2026 with Reimagine the Bank initiatives – Incorporating LLM functionality into call center operations; targeting ~25% of calls to be handled without human interaction by YE2026; ~50% over time – Leveraging AI to redesign processes for handling customer complaints and address changes, driving improved customer experience – Early progress leveraging GenAI to automate credit research and portfolio monitoring of private companies – Early production release of a next-generation E2E loan processing platform, enhancing user experience and efficiencies – Pilots scheduled for 2Q based on work to establish AI- enabled software integration and deployment, and orchestrate agentic capabilities – ~80 applications identified for rationalization to simplify technology stack; 18 applications completed in 1Q – Negotiations with largest suppliers completed in 1Q; focus shifting to 2nd/3rd tier suppliers – Identified opportunities to consolidate real estate properties Reimagine the Bank is well underway; targeting ~$450 million pre-tax run-rate benefit by year-end 2028

16 2Q26 outlook vs. 1Q26 See pages 28-29 for notes. 1Q26 2Q26 Outlook Net interest income $1,562MM ■ Up 3 to 4% Noninterest income $606MM ■ Up 3 to 5%, with growth across most fee categories Noninterest expense $1,378MM ■ Stable to up 1% Net charge-offs $138MM; 39 bps ■ Stable to down slightly CET1 ratio(1) 10.5% ■ 10.5-10.6%; ~$225 million in share repurchases Tax rate 20.5% ■ ~22%

17 Meaningful NIM improvement over the medium term Medium-term NIM target 3.30 to 3.50% Terminated swaps Non-Core Asset sensitivity net of swaps/other impacts Projected NIM range Fixed-rate asset repricing benefit Cumulative time-based NIM benefit vs. 1Q26 4Q26 4Q27 In basis points +11 +1 +12 +15 +2 +17 +7 to +10 -7 to +10 ~3.30 to 3.50% Chart not to scale Net benefit 0 to +20 bps 3.30% 3.50% Fed funds at or above 3.75% favors top end of range or above Fed funds at or below 2.75% favors bottom of range or below Factors supporting 3.30 to 3.50% NIM ■ Swaps and Non-Core runoff ■ Stable to improving balance sheet mix ■ Fed funds terminal range of 2.75-3.75% ■ Cumulative IBD beta of high 40's% Time-based NIM benefit +17 bps Assumes 10-year treasury rate of ~4.25% gradually rising toward ~4.5% by the end of 2027 +2 to +3 Cumulative NIM impact from starting point 1Q26 3Q24 2.77% 1Q26 3.14% 4Q26 4Q27 +37 bps -6 to -1 ~3.22 to 3.28% 1Q26 to 4Q27

18 ■ 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 ~$450 million of pre-tax run-rate benefit 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 $300 million of common stock in 1Q26 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 $0.11 to EPS in 1Q26 – Investing for growth while sustaining attractive 20-25% ROE(1) ■ Significant NII tailwind 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 See pages 28-29 for notes.

Appendix ■ Private Bank financial performance ■ Interest rate risk management ■ Non-Core portfolio ■ Credit

20 1Q26 Private Bank financial performance $s in millions 1Q26 4Q25 3Q25 2Q25 1Q25 Net interest income $134.1 $118.3 $100.2 $80.3 $70.5 Noninterest income 23.0 23.7 20.2 15.2 13.6 Total revenue 157.1 141.9 120.4 95.4 84.1 Noninterest expense 91.4 85.7 73.0 60.4 59.9 Pre-provision profit 65.7 56.2 47.4 35.1 24.2 Provision for credit losses — — — — — Income before income tax expense 65.7 56.2 47.4 35.1 24.2 Income tax expense 16.9 14.2 12.0 8.9 6.1 Net income 48.8 42.0 35.4 26.2 18.1 Contribution to total CFG Diluted EPS $0.11 $0.10 $0.08 $0.06 $0.04 $s in billions Interest-earning assets (spot) $7.7 $7.2 $5.9 $4.9 $3.7 Total Commercial $5.0 $4.9 $4.2 $3.4 $2.6 Total Retail $2.7 $2.3 $1.7 $1.5 $1.1 Total loans (spot) $7.7 $7.2 $5.9 $4.9 $3.7 Total deposits (spot) 16.6 14.5 12.5 8.7 8.7 Risk-weighted assets (spot) $8.2 $7.6 $6.4 $5.4 $4.1 Performance metrics: Efficiency ratio 58.2 60.4 60.6 63.2 71.2 Noninterest income as a % of total revenue 14.7 16.7 16.8 15.9 16.1 Client assets(1) Assets Under Management (AUM)(2) $8.7 $8.6 $7.6 $6.5 $5.2 Transactional assets(3) 1.4 1.4 1.4 0.7 0.6 Total Private Bank client assets $10.1 $10.0 $9.0 $7.2 $5.8 See pages 28-29 for notes.

21 $31.8 $30.0 $28.3 $27.5 $29.1 $25.4 $25.6 $23.7 $21.4$7.3 $8.6 $13.3 $15.3 $20.1 $21.4 $22.6 $21.3 $19.4 4Q25 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 $28.6 $28.7 $24.0 $17.9 $8.4 $2.8 $14.3 $21.2 $17.7 2025 2026 2027 2028 2029 Interest rate risk management W.A. receive-fixed rate 3.3% 3.4% 3.5% 3.5% 3.6% 3.6% 3.7% 3.7% 3.6% 3.2% 3.5% 3.6% 3.6% 3.6% Executed post 6/30/23 4.0% 3.9% 3.8% 3.8% 3.7% 3.7% 3.7% 3.7% 3.6% 4.0% 3.8% 3.7% 3.6% 3.6% Executed pre 6/30/23 3.1% 3.2% 3.2% 3.2% 3.3% 3.4% 3.4% 3.3% 3.3% 3.1% 3.2% 3.4% 2.6% 2.6% NII impact from terminated swaps ($MM): In-period impact $(103) $(88) $(62) $(52) $(28) $(16) $(10) $(9) $(4) $(457) $(230) $(40) $(3) $0 Sequential benefit $5 $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 mid 2027 ■ 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% 13% 78% Securities $44B 36% 21% 43% Loans $144B Fixed Fixed with hedges Floating Floating with hedges Commentary 15% 15% 70% As of 3/31/26 (1) See pages 28-29 for notes.

22 $13.7 $6.9 $2.5 $2.0 $1.6 $1.3 $1.1 $0.3 $2.0 $3.4 $1.6 $1.3 $0.9 $0.6 $0.4 $— $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 28-29 for notes. Non-Core portfolio(1) progression Education and other retail (purchased) Non-Core portfolio has been reduced from ~$2.5 billion at 4Q25 to ~$2.0 billion at 1Q26; expected to decline to ~$1.1 billion by year-end 2026 2026 quarterly progression

23 $74.6B Commercial credit portfolio(1) Commercial portfolio risk ratings(4) $s in billions 60% 64% 64% 16% 16% 17% 17% 14% 13% 7% 6% 6% 1Q25 4Q25 1Q26 B- and lower B+ to B BB+ to BB- AAA+ to BBB- $74.6 Highlights $73.8 $ Balances % of CFG C&I Finance and Insurance $ 18.1 13 % Capital call facilities $ 8.8 Private Credit Finance 4.1 Other Finance and Insurance* 5.2 Other Manufacturing 3.6 2 Technology 3.1 2 Accommodation and Food Services 2.0 1 Health, Pharma, Social Assistance 2.5 2 Professional, Scientific, and Technical Services 2.7 2 Wholesale Trade 2.6 2 Retail Trade 1.9 1 Other Services 2.3 2 Energy & Related 1.9 1 Rental and Leasing 1.2 1 Consumer Products Manufacturing 0.7 1 Administrative and Waste Management Services 1.6 1 Arts, Entertainment, and Recreation 1.7 1 Automotive 1.3 1 Other (2) 3.2 2 Total C&I $ 50.3 35 % CRE Multi-family $ 8.9 6 % Office 4.4 3 Credit tenant lease and life sciences(3) $ 1.9 Other general office 2.4 Industrial 2.3 2 Retail 2.6 2 Co-op 1.7 1 Data Center 0.7 1 Hospitality 0.3 — Other (2) 3.3 2 Total CRE $ 24.3 17 % Total Commercial loans & leases $ 74.6 52 % Total CFG $ 143.7 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 – ~82% 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 ~$11 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 $70.5 See pages 28-29 for notes. $s in billions

24 High-quality, diversified Private Capital related portfolio Capital call facilities Private Credit finance $8.6 $4.1 $s in billions; as of 3/31/2026 $8.8B Capital call facilities $1.8B 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 $4.1B Private Credit finance $19.6B NDFI* ABS finance $1.8 REITs Payment Processors Insurance Asset Managers Other $14.7B Private Capital related Capital call facilities $8.8 $14.7 billion Private Capital related lending ~6% of total CFG loans ~3% of total CFG loans ~1% of total CFG loans *Represents preliminary Non-depository Financial Institutions (NDFI) balance pending filing of the Call Report for March 31, 2026 $1.4 $0.7 $0.6 $0.5 $1.7 ■ 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 $4.9B other borrowers

25 46% 47% 47% 30% 31% 31% 14% 14% 14% 4% 3% 3%6% 5% 5% 1Q25 4Q25 1Q26 $35.4 $19.4 $1.9 $3.2 $5.1 $4.0 $69.1B Retail credit portfolio 800+ 740-799 680-739 640-679 <640 $69.1 $s in billions $68.9 Home equity Retail portfolio(1) Residential mortgage Auto Education - in school Education - refinance Other retail ~96% Super-prime/prime* ~82% Secured ■ Retail portfolio mix continues to improve with focus on high quality relationship lending ■ Core real estate secured increased to 79% of the portfolio as Non-Core reduced significantly from 19% in 2Q23** to 3% in 1Q26 – Mortgage: FICO ~790; weighted-average LTV of ~52% – Home equity: FICO ~765; ~29% secured by 1st lien ◦ ~98% CLTV less than 80%; ~85% CLTV less than 70% ■ Core unsecured relatively stable at 18% of the portfolio; targeting super-prime/high-prime relationship borrowers – Education: FICO ~785 ◦ In-school: ~97% co-signed ◦ Refinance: ~40% have advanced degrees – Other retail: consists 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) $67.1 Homeowners ~2/3 See pages 28-29 for notes. As of 3/31/26 62% 79% 19% 18%19% 3% 2Q23** 1Q26 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 $69.1B$73.0B $s in billions To discuss: provide LTV stratification of 1st mortgages in light of B3E?

26 Allocation of allowance for credit losses by product type March 31, 2026 December 31, 2025 $s in millions Loans and Leases Allowance Coverage Loans and Leases Allowance Coverage Commercial and industrial(1) $ 50,307 $720 1.43 % $ 49,232 $676 1.37 % Commercial real estate 24,282 584 2.41 24,580 576 2.35 Total commercial 74,589 1,304 1.75 73,812 1,252 1.70 Residential mortgages 35,404 209 0.59 35,024 225 0.64 Home equity 19,449 159 0.81 19,069 166 0.87 Automobile 1,863 8 0.42 2,310 10 0.42 Education 8,340 253 3.03 8,416 267 3.18 Other retail 4,022 252 6.30 4,061 263 6.48 Total retail loans 69,078 881 1.27 68,880 931 1.35 Allowance for credit losses(2) $143,667 $2,185 1.52 % $142,692 $2,183 1.53 % See pages 28-29 for notes.

27 Delinquency by product type March 31, 2026 (%) December 31, 2025 (%) 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 99.37 % 0.24 % 0.02 % — % 0.37 % 99.27 % 0.13 % 0.03 % 0.01 % 0.56 % Commercial real estate 95.32 1.54 0.23 0.11 2.80 96.42 0.75 0.24 0.08 2.51 Total commercial 98.05 0.66 0.09 0.04 1.16 98.33 0.33 0.10 0.03 1.21 Residential mortgages(1) 98.58 0.20 0.10 0.51 0.61 98.64 0.27 0.13 0.40 0.56 Home equity 97.62 0.54 0.17 — 1.67 97.67 0.50 0.15 0.01 1.67 Automobile 95.33 2.63 0.81 — 1.23 95.37 2.55 0.87 — 1.21 Education 99.11 0.40 0.22 0.02 0.25 99.12 0.43 0.19 0.02 0.24 Other retail 97.61 0.77 0.50 — 1.12 97.44 0.86 0.57 — 1.13 Total retail 98.23 0.42 0.18 0.26 0.91 98.26 0.46 0.19 0.21 0.88 Total 98.14 % 0.55 % 0.13 % 0.14 % 1.04 % 98.29 % 0.40 % 0.14 % 0.12 % 1.05 % See pages 28-29 for notes.

28 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 - 1Q26 Earnings highlights 1) See general note a). Notes on slide 4 - 1Q26 Overview 1) See general note d). 2) Represents Return on Regulatory Capital. See page 34 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 - financial update 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 - 2Q26 outlook vs. 1Q26 1) See general note d). Notes on slide 18 - Citizens is an attractive investment opportunity 1) Represents Return on Regulatory Capital. Notes on slide 20 - 1Q26 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.

29 Notes continued Notes on slide 21 - Interest rate risk management 1) Represents fair value balances. Notes on slide 22 - Non-Core portfolio update 1) See general note c). Notes on slide 23 - $74.6B 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 25 - $69.1B 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 26 - 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 27 - Delinquency by product type 1) 90+ days past due and accruing includes $179 million, $141 million,and $137 million of loans fully or partially guaranteed by the FHA, VA, and USDA for March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

30 Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data QUARTERLY TRENDS 1Q26 Change 1Q26 4Q25 1Q25 4Q25 1Q25 $/bps % $/bps % Pre-provision profit: Total revenue (GAAP) A $2,168 $2,157 $1,935 $11 1% $233 12% Noninterest expense (GAAP) B 1,378 1,343 1,314 35 3 64 5 Pre-provision profit (non-GAAP) $790 $814 $621 ($24) (3%) $169 27% Return on average common equity and return on average tangible common equity: Net income available to common stockholders (GAAP) C $484 $489 $340 ($5) (1%) $144 42% Average common equity (GAAP) D $23,995 $23,823 $22,188 $172 1% $1,807 8% Less: Average goodwill (GAAP) 8,198 8,187 8,187 11 — 11 — Less: Average other intangibles (GAAP) 114 120 142 (6) (5) (28) (20) Add: Average deferred tax liabilities related to goodwill (GAAP) 437 440 438 (3) (1) (1) — Average tangible common equity (non-GAAP) E $16,120 $15,956 $14,297 $164 1% $1,823 13% Return on average common equity C/D 8.19 % 8.16% 6.21 % 3 bps 198 bps Return on average tangible common equity (non-GAAP) C/E 12.19 % 12.18% 9.64 % 1 bps 255 bps Return on average total assets and return on average total tangible assets: Net income (GAAP) F $517 $528 $373 ($11) (2%) $144 39% Average total assets (GAAP) G $224,224 $221,242 $216,309 $2,982 1% $7,915 4% Less: Average goodwill (GAAP) $8,198 $8,187 $8,187 $11 —% $11 —% Less: Average other intangibles (GAAP) $114 $120 $142 ($6) (5%) ($28) (20%) Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) $437 $440 $438 ($3) (1%) ($1) —% Average tangible assets (non-GAAP) H $216,349 $213,375 $208,418 $2,974 1% $7,931 4% Return on average total assets F/G 0.94 % 0.95% 0.70 % (1) bps 24 bps Return on average total tangible assets (non-GAAP) F/H 0.97 % 0.98% 0.73 % (1) bps 24 bps Book value per common share and tangible book value per common share: Common shares - at period-end (GAAP) I 426,023,578 429,242,174 437,668,127 (3,218,596) (1%) (11,644,549) (3%) Common stockholders' equity (GAAP) J $24,061 $24,206 $22,753 ($145) (1) $1,308 6 Less: Goodwill (GAAP) 8,221 8,187 8,187 34 — 34 — Less: Other intangible assets (GAAP) 112 115 137 (3) (3) (25) (18) Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) 437 437 438 — — (1) — Tangible common equity (non-GAAP) K $16,165 $16,341 $14,867 ($176) (1%) $1,298 9% Book value per common share (GAAP) J/I $56.48 $56.39 $51.99 $0.09 —% $4.49 9% Tangible book value per common share (non-GAAP) K/I $37.94 $38.07 $33.97 ($0.13) —% $3.97 12%

31 Non-GAAP financial measures and reconciliations QUARTERLY TRENDS 1Q26 Change 1Q26 4Q25 1Q25 4Q25 1Q25 $/bps % $/bps % Common equity ratio and tangible common equity ratio: Total assets (GAAP) L $227,918 $226,351 $220,148 $1,567 1 $7,770 4% Less: Goodwill (GAAP) 8,221 8,187 8,187 34 — 34 — Less: Other intangible assets (GAAP) 112 115 137 (3) (3) (25) (18) Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) 437 437 438 — — (1) — Tangible assets (non-GAAP) M $220,022 $218,486 $212,262 $1,536 1% $7,760 4% Common equity ratio (GAAP) J/L 10.6 % 10.7 % 10.3 % (13) bps 22 bps Tangible common equity ratio (non-GAAP) K/M 7.3 7.5 7.0 (20) bps 30 bps Net interest income and net interest margin on an FTE basis: Net interest income (annualized) (GAAP) N $6,337 $6,098 $5,637 $239 4% $700 12% Average interest-earning assets (GAAP) O 201,929 199,167 195,058 2,762 1 6,871 4 Net interest margin (GAAP) N/O 3.14 % 3.06% 2.89% 8 bps 25 bps Net interest income (GAAP) $1,562 $1,537 $1,391 $25 2% $171 12% FTE adjustment 3 4 4 (1) (25) (1) (25) Net interest income on an FTE basis (non-GAAP) 1,565 1,541 1,395 24 2 170 12 Net interest income on an FTE basis (annualized) (non-GAAP) P 6,350 6,112 5,653 238 4 697 12 Net interest margin on an FTE basis (non-GAAP) P/O 3.14 % 3.07% 2.90% 7 bps 24 bps Total Retail loans excluding Private Bank and non-core - at period-end Total Retail loans - at period-end $69,078 $68,880 $67,127 $198 —% $1,951 3% Less: Non-core retail loans - at period-end 2,002 2,460 4,235 (458) (19) (2,233) (53) Less: Private bank retail loans - at period-end 2,685 2,289 1,112 396 17 1,573 142 Total Retail loans excluding Private Bank and non-core - at period-end $64,391 $64,131 $61,780 $260 —% $2,611 4% Total Commercial loans excluding Private Bank - at period-end Total Commercial loans - at period-end $74,589 $73,812 $70,508 $777 1% $4,081 6% Less: Private bank commercial loans - at period-end $5,063 $4,875 $2,563 $188 4 $2,500 98 Total Commercial loans excluding Private Bank - at period-end $69,526 $68,937 $67,945 $589 1% $1,581 2% $s in millions, except share, per share and ratio data

32 Financial measures and reconciliations - Efficiency ratio and Operating leverage $s in millions, except share, per share and ratio data QUARTERLY TRENDS 1Q26 Change 1Q26 4Q25 3Q25 2Q25 1Q25 4Q25 1Q25 $/bps % $/bps % Efficiency ratio and Operating leverage: Total revenue (GAAP) A $2,168 $2,157 $2,118 $2,037 $1,935 $11 0.53% $233 12.11% Noninterest expense (GAAP) B 1,378 1,343 $1,335 $1,319 1,314 35 2.65 64 4.91 Efficiency ratio B/A 63.6% 62.2% 63.0 % 64.8% 67.9% 131 bps (436) bps Operating leverage A-B (2.12%) 7.20%

33 Non-GAAP financial measures and reconciliations - CET1 adjusted for AOCI opt-out removal QUARTERLY TRENDS 1Q26 4Q25 CET1 Ratio adjusted for AOCI opt-out removal CET1 capital $ 18,178 $ 18,240 Less: AFS securities - AOCI 1,027 922 HTM securities - AOCI(1) 657 681 DTA for AFS/HTM securities 35 33 Pension 245 249 DTA for Pension 3 4 CET 1 capital adjusted for AOCI opt-out removal A $16,211 $16,351 Risk-weighted assets 173,268 171,493 Less: HTM securities - AOCI 113 117 AFS securities - AOCI 167 149 DTA for AFS/HTM securities (1,471) (1,276) Pension 245 249 DTA for Pension (216) (215) Risk-weighted assets adjusted for AOCI opt-out removal B $174,430 $172,469 CET1 Ratio adjusted for AOCI opt-out removal A/B 9.3 % 9.5 % $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

34 Non-GAAP financial measures and reconciliations - Private Bank Return on Regulatory Capital $s in millions, except share, per share and ratio data 1Q26 Net income available to common stockholders: Private Bank Net income available to common stockholders, (GAAP) A $49 Regulatory Capital: Private Bank Average Risk Weighted Assets (1) B $7,554 CFG Capital Allocation Rate (2) C 10.0 % Private Bank Regulatory Capital D=B*C $755 Private Bank Return on Regulatory Capital A/D 26 % (1) RWA is based on the Basel III standardized approach. (2) Capital allocation rate is management-defined for internal performance evaluation. It is not based on GAAP.

EX-99.3 4 q126financialsupplement.htm EX-99.3 Document

Financial Supplement

First Quarter 2026


Table of Contents						Page

Consolidated Financial Highlights						3

Consolidated Statements of Operations (unaudited)						4

Consolidated Balance Sheets (unaudited)						5

Loans and Deposits						6

Average Balance Sheets, Annualized Yields and Rates						7

Mortgage Banking Fees						8

Segment Financial Highlights						9

Credit-Related Information:
Nonaccrual loans and leases						12
Loans and Leases 90 Days or More Past Due and Accruing						13
Charge-offs, Recoveries, and Related Ratios						14
Summary of Changes in the Components of the Allowance for Credit Losses						16

Capital and Ratios						17

Non-GAAP Financial Measures and Reconciliations						18
The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward-looking statements language contained in the Company’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC’s website (www.sec.gov) or on the Company’s website (www.citizensbank.com). The Company’s future financial performance is subject to the risks and uncertainties described in its SEC filings.

CONSOLIDATED FINANCIAL HIGHLIGHTS

(dollars in millions, except per share data)


		QUARTERLY TRENDS
												1Q26 Change
		1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
												$/bps		%		$/bps		%
SELECTED OPERATING DATA
Total revenue	A	$2,168		$2,157		$2,118		$2,037		$1,935		$11		1	%	$233		12	%
Noninterest expense	B	1,378		1,343		1,335		1,319		1,314		35		3		64		5
Pre-provision profit1		790		814		783		718		621		(24)		(3)		169		27
Provision (benefit) for credit losses		140		137		154		164		153		3		2		(13)		(8)
NET INCOME		517		528		494		436		373		(11)		(2)		144		39
Net income available to common stockholders		484		489		457		402		340		(5)		(1)		144		42
PER COMMON SHARE DATA
Basic earnings		$1.14		$1.14		$1.06		$0.93		$0.78		$—		—	%	$0.36		46	%
Diluted earnings		1.13		1.13		1.05		0.92		0.77		—		—		0.36		47
Cash dividends declared and paid per common share		0.46		0.46		0.42		0.42		0.42		—		—		0.04		10
Book value per common share		56.48		56.39		54.97		53.43		51.99		0.09		—		4.49		9
Tangible book value per common share1		37.94		38.07		36.73		35.23		33.97		(0.13)		—		3.97		12
Dividend payout ratio		40	%	40	%	40	%	45	%	54	%	—	bps			(1,350)	bps
COMMON SHARES OUTSTANDING
Average: Basic		425,344,491		429,483,110		431,365,552		433,640,210		438,320,757		(4,138,619)		(1	%)	(12,976,266)		(3	%)
Diluted		429,894,837		434,077,960		435,472,350		436,539,774		442,200,180		(4,183,123)		(1)		(12,305,343)		(3)
Common shares at period-end		426,023,578		429,242,174		431,453,142		432,768,811		437,668,127		(3,218,596)		(1)		(11,644,549)		(3)
FINANCIAL RATIOS
Net interest margin		3.14	%	3.06	%	2.99	%	2.94	%	2.89	%	8 bps				25 bps
Net interest margin, FTE1,2		3.14		3.07		3.00		2.95		2.90		7				24
Return on average common equity		8.19		8.16		7.77		7.18		6.21		3				198
Return on average tangible common equity1		12.19		12.18		11.75		11.05		9.64		1				255
Return on average total assets		0.94		0.95		0.90		0.80		0.70		(1)				24
Return on average total tangible assets1		0.97		0.98		0.93		0.83		0.73		(1)				24
Effective income tax rate		20.46		22.03		21.38		21.37		20.26		(157)				20
Efficiency ratio	B/A	63.55		62.24		63.03		64.76		67.91		131				(436)
Noninterest income as a % of total revenue		27.95		28.75		29.75		29.41		28.14		(80)				(19)
Operating leverage:
Total revenue		$2,168		$2,157						$1,935		$11		0.53	%	$233		12.11	%
Less: Noninterest expense		1,378		1,343						1,314		35		2.65		64		4.91
Operating leverage														(2.12	%)			7.20	%
CAPITAL RATIOS - PERIOD-END (PRELIMINARY)
CET1 capital ratio		10.5	%	10.6	%	10.7	%	10.6	%	10.6	%
Tier 1 capital ratio		11.7		11.9		11.9		11.9		11.9
Total capital ratio		13.7		13.8		13.9		13.8		13.9
Tier 1 leverage ratio		9.3		9.5		9.4		9.4		9.4
Common equity ratio		10.6		10.7		10.6		10.6		10.3
Tangible common equity ratio1		7.3		7.5		7.4		7.2		7.0
SELECTED BALANCE SHEET DATA
Loan-to-deposit ratio (period-end balances)		78.07	%	77.84	%	78.26	%	79.56	%	77.51	%	23	bps			56	bps
Loan-to-deposit ratio (average balances)		79.09		78.82		79.57		79.72		80.89		27	bps			(180)	bps
Full-time equivalent colleagues (period-end)		17,380		17,398		17,496		17,677		17,315		(18)		—		65		—

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

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

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)

(dollars in millions)


	QUARTERLY TRENDS
						1Q26 Change
	1Q26	4Q25	3Q25	2Q25	1Q25	4Q25			1Q25
						$	%		$	%
INTEREST INCOME
Interest and fees on loans and leases	$1,884	$1,901	$1,897	$1,851	$1,829	($17)	(1	%)	$55	3	%
Interest and fees on loans held for sale	21	22	31	36	16	(1)	(5)		5	31
Investment securities	424	434	433	428	418	(10)	(2)		6	1
Interest-bearing deposits in banks	91	89	97	92	89	2	2		2	2
Total interest income	2,420	2,446	2,458	2,407	2,352	(26)	(1)		68	3
INTEREST EXPENSE
Deposits	715	781	816	802	795	(66)	(8)		(80)	(10)
Short-term borrowed funds	4	—	5	9	8	4	100		(4)	(50)
Long-term borrowed funds	139	128	149	159	158	11	9		(19)	(12)
Total interest expense	858	909	970	970	961	(51)	(6)		(103)	(11)
Net interest income	1,562	1,537	1,488	1,437	1,391	25	2		171	12
NONINTEREST INCOME
Service charges and fees	112	112	112	111	109	—	—		3	3
Capital markets fees	134	140	166	105	100	(6)	(4)		34	34
Wealth fees	100	98	93	88	81	2	2		19	23
Card fees	83	86	87	90	83	(3)	(3)		—	—
Mortgage banking fees	42	52	49	73	59	(10)	(19)		(17)	(29)
Foreign exchange and derivative products	44	34	42	41	39	10	29		5	13
Letter of credit and loan fees	50	49	48	45	44	1	2		6	14
Securities gains, net	7	7	2	5	7	—	—		—	—
Other income	34	42	31	42	22	(8)	(19)		12	55
Total noninterest income	606	620	630	600	544	(14)	(2)		62	11
TOTAL REVENUE	2,168	2,157	2,118	2,037	1,935	11	1		233	12
Provision (benefit) for credit losses	140	137	154	164	153	3	2		(13)	(8)
NONINTEREST EXPENSE
Salaries and employee benefits	758	716	705	681	696	42	6		62	9
Equipment and software	197	199	197	193	194	(2)	(1)		3	2
Outside services	162	148	161	169	155	14	9		7	5
Occupancy	114	109	106	108	112	5	5		2	2
Other operating expense	147	171	166	168	157	(24)	(14)		(10)	(6)
Total noninterest expense	1,378	1,343	1,335	1,319	1,314	35	3		64	5
Income before income tax expense	650	677	629	554	468	(27)	(4)		182	39
Income tax expense	133	149	135	118	95	(16)	(11)		38	40
Net income	$517	$528	$494	$436	$373	($11)	(2	%)	$144	39	%

Net income available to common stockholders	$484	$489	$457	$402	$340	($5)	(1	%)	$144	42	%

CONSOLIDATED BALANCE SHEETS (unaudited)

(dollars in millions, except par value)


PERIOD-END BALANCES	AS OF					MARCH 31, 2026 CHANGE
	Mar 31, 2026	Dec 31, 2025	Sept 30, 2025	June 30, 2025	Mar 31, 2025	December 31, 2025			March 31, 2025
						$	%		$	%
ASSETS
Cash and due from banks	$1,084	$1,464	$1,254	$1,107	$1,082	($380)	(26	%)	$2	—	%
Interest-bearing cash and due from banks	11,246	11,263	10,396	7,441	10,459	(17)	—		787	8
Interest-bearing deposits in banks	830	961	694	680	685	(131)	(14)		145	21
Debt securities available for sale, at fair value	36,361	35,697	35,419	34,658	34,208	664	2		2,153	6
Debt securities held to maturity	7,800	7,933	8,124	8,293	8,469	(133)	(2)		(669)	(8)
Loans held for sale	1,537	1,198	1,334	2,093	2,820	339	28		(1,283)	(45)
Loans and leases	143,667	142,692	140,870	139,304	137,635	975	1		6,032	4
Less: Allowance for loan and lease losses	(1,958)	(1,943)	(1,972)	(2,008)	(2,014)	(15)	1		56	(3)
Net loans and leases	141,709	140,749	138,898	137,296	135,621	960	1		6,088	4
Premises and equipment	874	915	857	855	855	(41)	(4)		19	2
Bank-owned life insurance	3,464	3,441	3,422	3,408	3,386	23	1		78	2
Goodwill	8,221	8,187	8,187	8,187	8,187	34	—		34	—
Other intangible assets	112	115	123	129	137	(3)	(3)		(25)	(18)
Other assets	14,680	14,428	14,039	14,163	14,239	252	2		441	3
TOTAL ASSETS	$227,918	$226,351	$222,747	$218,310	$220,148	$1,567	1	%	$7,770	4	%
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Deposits:
Noninterest-bearing	$41,672	$40,417	$39,472	$38,001	$37,556	$1,255	3	%	$4,116	11	%
Interest-bearing	142,363	142,896	140,539	137,085	140,020	(533)	—		2,343	2
Total deposits	184,035	183,313	180,011	175,086	177,576	722	—		6,459	4
Short-term borrowed funds	54	58	214	249	47	(4)	(7)		7	15
Long-term borrowed funds:
FHLB advances	2,513	2,014	14	1,542	42	499	25		2,471	NM
Senior debt	7,076	6,328	6,825	6,821	7,568	748	12		(492)	(7)
Subordinated debt and other debt	2,671	2,882	3,602	4,163	4,657	(211)	(7)		(1,986)	(43)
Total long-term borrowed funds	12,260	11,224	10,441	12,526	12,267	1,036	9		(7)	—
Other liabilities	5,397	5,439	6,252	5,215	5,392	(42)	(1)		5	—
TOTAL LIABILITIES	201,746	200,034	196,918	193,076	195,282	1,712	1		6,464	3
STOCKHOLDERS' EQUITY
Preferred stock:
$25.00 par value, 100,000,000 shares authorized for each of the periods presented	2,111	2,111	2,111	2,113	2,113	—	—		(2)	—
Common stock:
$0.01 par value, 1,000,000,000 shares authorized for each of the periods presented	7	7	7	7	7	—	—		—	—
Additional paid-in capital	22,466	22,476	22,448	22,420	22,370	(10)	—		96	—
Retained earnings	11,631	11,345	11,056	10,783	10,566	286	3		1,065	10
Treasury stock, at cost	(7,955)	(7,652)	(7,526)	(7,450)	(7,249)	(303)	(4)		(706)	(10)
Accumulated other comprehensive income (loss)	(2,088)	(1,970)	(2,267)	(2,639)	(2,941)	(118)	(6)		853	29
TOTAL STOCKHOLDERS' EQUITY	26,172	26,317	25,829	25,234	24,866	(145)	(1)		1,306	5
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$227,918	$226,351	$222,747	$218,310	$220,148	$1,567	1	%	$7,770	4	%
Memo: Total tangible common equity1	$16,165	$16,341	$15,848	$15,246	$14,867	($176)	(1	%)	$1,298	9	%

1 Represents a non-GAAP financial measure. For further information on this measure, refer to "Non-GAAP Financial Measures and Reconciliations."

LOANS AND DEPOSITS

(dollars in millions)


PERIOD-END BALANCES	AS OF					MARCH 31, 2026 CHANGE
	Mar 31, 2026	Dec 31, 2025	Sept 30, 2025	June 30, 2025	Mar 31, 2025	Dec 31, 2025			March 31, 2025
						$	%		$	%
LOANS AND LEASES
Commercial and industrial	$50,307	$49,232	$46,953	$45,412	$43,781	$1,075	2	%	$6,526	15	%
Commercial real estate	24,282	24,580	25,540	26,230	26,727	(298)	(1)		(2,445)	(9)
Total commercial	74,589	73,812	72,493	71,642	70,508	777	1		4,081	6
Residential mortgages	35,404	35,024	34,477	33,823	33,114	380	1		2,290	7
Home equity	19,449	19,069	18,415	17,711	16,853	380	2		2,596	15
Automobile	1,863	2,310	2,816	3,407	4,044	(447)	(19)		(2,181)	(54)
Education	8,340	8,416	8,556	8,550	8,779	(76)	(1)		(439)	(5)
Other retail	4,022	4,061	4,113	4,171	4,337	(39)	(1)		(315)	(7)
Total retail	69,078	68,880	68,377	67,662	67,127	198	—		1,951	3
Total loans and leases	$143,667	$142,692	$140,870	$139,304	$137,635	$975	1	%	$6,032	4	%
Loans held for sale	1,537	1,198	1,334	2,093	2,820	339	28		(1,283)	(45)
Loans and leases and loans held for sale	$145,204	$143,890	$142,204	$141,397	$140,455	$1,314	1	%	$4,749	3	%

DEPOSITS
Noninterest-bearing demand	$41,672	$40,417	$39,472	$38,001	$37,556	$1,255	3	%	$4,116	11	%
Checking with interest	37,675	37,428	35,219	34,918	34,456	247	1		3,219	9
Savings	24,114	24,353	24,759	25,400	25,765	(239)	(1)		(1,651)	(6)
Money market	59,611	60,062	59,709	55,638	55,996	(451)	(1)		3,615	6
Time	20,963	21,053	20,852	21,129	23,803	(90)	—		(2,840)	(12)
Total deposits	$184,035	$183,313	$180,011	$175,086	$177,576	$722	—	%	$6,459	4	%


AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES
(dollars in millions)

	QUARTERLY TRENDS												1Q26 Change
	1Q26				4Q25				1Q25				4Q25			1Q25
	Average Balance	Interest	Rate		Average Balance	Interest	Rate		Average Balance	Interest	Rate		Average Balance	Interest	Rate	Average Balance	Interest	Rate
INTEREST-EARNING ASSETS
Interest-bearing cash and due from banks and deposits in banks	$10,079	$91	3.60	%	$9,156	$89	3.80	%	$8,092	$89	4.42	%	$923	$2	(20) bps	$1,987	$2	(82) bps
Taxable investment securities	46,928	424	3.62		46,730	434	3.71		46,068	418	3.63		198	(10)	(9)	860	6	(1)
Non-taxable investment securities	1	—	2.60		1	—	2.60		1	—	2.60		—	—	—	—	—	—
Total investment securities	46,929	424	3.62		46,731	434	3.71		46,069	418	3.63		198	(10)	(9)	860	6	(1)
Commercial and industrial	50,140	644	5.14		48,108	605	4.92		43,599	515	4.72		2,032	39	22	6,541	129	42
Commercial real estate	24,401	328	5.38		25,043	358	5.59		27,013	387	5.74		(642)	(30)	(21)	(2,612)	(59)	(36)
Total commercial	74,541	972	5.22		73,151	963	5.15		70,612	902	5.11		1,390	9	7	3,929	70	11
Residential mortgages	35,090	353	4.03		34,752	350	4.03		32,872	318	3.86		338	3	—	2,218	35	17
Home equity	19,230	307	6.47		18,754	323	6.84		16,647	293	7.13		476	(16)	(37)	2,583	14	(66)
Automobile	2,090	24	4.68		2,557	30	4.60		4,394	47	4.38		(467)	(6)	8	(2,304)	(23)	30
Education	8,442	127	6.08		8,469	128	6.00		10,690	148	5.61		(27)	(1)	8	(2,248)	(21)	47
Other retail	4,017	101	10.22		4,074	107	10.34		4,495	121	10.91		(57)	(6)	(12)	(478)	(20)	(69)
Total retail	68,869	912	5.34		68,606	938	5.44		69,098	927	5.41		263	(26)	(10)	(229)	(15)	(7)
Total loans and leases	143,410	1,884	5.28		141,757	1,901	5.29		139,710	1,829	5.26		1,653	(17)	(1)	3,700	55	2
Loans held for sale	1,511	21	5.65		1,523	22	5.95		1,187	16	5.34		(12)	(1)	(30)	324	5	31
Total interest-earning assets	201,929	2,420	4.81		199,167	2,446	4.86		195,058	2,352	4.84		2,762	(26)	(5)	6,871	68	(3)
Noninterest-earning assets	22,295				22,075				21,251				220			1,044
TOTAL ASSETS	$224,224				$221,242				$216,309				$2,982			$7,915
INTEREST-BEARING LIABILITIES
Checking with interest	$37,027	$122	1.33	%	$36,257	$135	1.48	%	$32,693	$110	1.36	%	$770	($13)	(15)	$4,334	$12	(3)
Savings	24,095	65	1.10		24,477	77	1.26		25,760	89	1.39		(382)	(12)	(16)	(1,665)	(24)	(29)
Money market	60,141	350	2.36		58,904	377	2.54		54,432	357	2.66		1,237	(27)	(18)	5,709	(7)	(30)
Time	20,766	178	3.46		21,226	192	3.57		23,277	239	4.17		(460)	(14)	(11)	(2,511)	(61)	(71)
Total interest-bearing deposits	142,029	715	2.04		140,864	781	2.20		136,162	795	2.37		1,165	(66)	(16)	5,867	(80)	(33)
Short-term borrowed funds	454	4	3.74		221	—	1.34		675	8	4.53		233	4	240	(221)	(4)	(79)
FHLB advances	1,408	14	4.02		35	1	3.31		595	7	4.57		1,373	13	71	813	7	(55)
Senior debt	6,843	86	5.04		6,642	84	5.11		7,133	86	4.85		201	2	(7)	(290)	—	19
Subordinated debt and other debt	2,824	39	5.50		3,179	43	5.32		4,929	65	5.30		(355)	(4)	18	(2,105)	(26)	20
Total long-term borrowed funds	11,075	139	5.03		9,856	128	5.17		12,657	158	5.01		1,219	11	(14)	(1,582)	(19)	2
Total borrowed funds	11,529	143	4.98		10,077	128	5.09		13,332	166	4.99		1,452	15	(11)	(1,803)	(23)	(1)
Total interest-bearing liabilities	153,558	858	2.26		150,941	909	2.39		149,494	961	2.60		2,617	(51)	(13)	4,064	(103)	(34)
Noninterest-bearing demand deposits	39,286				38,993				36,543				293			2,743
Other noninterest-bearing liabilities	5,274				5,374				5,971				(100)			(697)
TOTAL LIABILITIES	198,118				195,308				192,008				2,810			6,110
STOCKHOLDERS' EQUITY	26,106				25,934				24,301				172			1,805
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$224,224				$221,242				$216,309				$2,982			$7,915
INTEREST RATE SPREAD			2.55	%			2.47	%			2.24	%			8			31
NET INTEREST INCOME AND NET INTEREST MARGIN		$1,562	3.14	%		$1,537	3.06	%		$1,391	2.89	%		$25	8		$171	25
NET INTEREST INCOME AND NET INTEREST MARGIN, FTE1		$1,565	3.14	%		$1,541	3.07	%		$1,395	2.90	%		$24	7		$170	24
Memo: Total deposits (interest-bearing and noninterest-bearing demand)	$181,315	$715	1.60	%	$179,857	$781	1.72	%	$172,705	$795	1.87	%	$1,458	($66)	(12) bps	$8,610	($80)	(27) bps

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

MORTGAGE BANKING FEES SUMMARY

(dollars in millions)


	QUARTERLY TRENDS
											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
											$/bps		%		$/bps		%
MORTGAGE BANKING FEES
Production revenue	$21		$19		$18		$19		$15		$2		11	%	$6		40	%
Mortgage servicing revenue	24		21		29		28		32		3		14		(8)		(25)
MSR valuation changes, net of hedge impact	(3)		12		2		26		12		(15)		NM		(15)		NM
Total mortgage banking fees	$42		$52		$49		$73		$59		($10)		(19	%)	($17)		(29	%)

Pull-through adjusted locks	$2,299		$2,486		$2,150		$2,458		$2,112		($187)		(8	%)	$187		9	%

Production revenue as a percentage of Pull-through adjusted locks	0.90	%	0.78	%	0.81	%	0.78	%	0.71	%	12	bps			19	bps

RESIDENTIAL REAL ESTATE ORIGINATIONS
Retail	$1,944		$2,175		$2,019		$2,189		$1,444		($231)		(11	%)	$500		35	%
Third Party	1,854		2,179		1,837		1,916		1,474		(325)		(15)		380		26
Total	$3,798		$4,354		$3,856		$4,105		$2,918		($556)		(13	%)	$880		30	%

Originated for sale	$2,415		$2,748		$2,379		$2,486		$1,916		($333)		(12	%)	$499		26	%
Originated for investment	1,383		1,606		1,477		1,619		1,002		(223)		(14)		381		38
Total	$3,798		$4,354		$3,856		$4,105		$2,918		($556)		(13	%)	$880		30	%

MORTGAGE SERVICING INFORMATION (UPB)
Loans serviced for others	$94,794		$94,877		$95,244		$95,422		$95,203		($83)		—	%	($409)		—	%
Owned loans serviced	35,888		35,599		34,760		34,284		33,737		289		1		2,151		6
Total	$130,682		$130,476		$130,004		$129,706		$128,940		$206		—	%	$1,742		1	%

MSR at fair value	$1,462		$1,455		$1,430		$1,426		$1,397		$7		—	%	$65		5	%

SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING

(dollars in millions)


	QUARTERLY TRENDS
CONSUMER BANKING											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
											$/bps		%		$/bps		%
Net interest income	$1,309		$1,299		$1,262		$1,218		$1,193		$10		1	%	$116		10	%
Noninterest income	299		315		311		329		297		(16)		(5)		2		1
Total revenue	1,608		1,614		1,573		1,547		1,490		(6)		—		118		8
Noninterest expense	1,028		984		979		963		954		44		4		74		8
Profit (loss) before credit losses	580		630		594		584		536		(50)		(8)		44		8
Net charge-offs	71		80		81		81		86		(9)		(11)		(15)		(17)
Income (loss) before income tax expense (benefit)	509		550		513		503		450		(41)		(7)		59		13
Income tax expense (benefit)	131		139		130		127		114		(8)		(6)		17		15
Net income (loss)	$378		$411		$383		$376		$336		($33)		(8	%)	$42		13	%
AVERAGE BALANCES
Total assets	$83,870		$82,552		$80,729		$78,822		$77,534		$1,318		2	%	$6,336		8	%
Total loans and leases1	77,089		75,980		74,274		72,402		71,054		1,109		1		6,035		8
Deposits	133,126		131,488		128,547		127,271		125,728		1,638		1		7,398		6
Interest-earning assets	77,695		76,583		74,870		72,988		71,635		1,112		1		6,060		8
KEY METRICS
Net interest margin	6.83	%	6.73	%	6.69	%	6.69	%	6.76	%	10	bps			7	bps
Efficiency ratio	63.94		60.98		62.22		62.24		64.06		296	bps			(12)	bps
Loan-to-deposit ratio (period-end balances)	56.55		57.28		57.40		57.24		54.97		(73)	bps			158	bps
Loan-to-deposit ratio (average balances)	57.36		57.19		57.16		56.26		56.04		17	bps			132	bps

1 Includes loans held for sale.

SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING

(dollars in millions)


	QUARTERLY TRENDS
COMMERCIAL BANKING											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
											$/bps		%		$/bps		%
Net interest income	$456		$450		$448		$439		$441		$6		1	%	$15		3	%
Noninterest income	263		262		286		232		215		1		—		48		22
Total revenue	719		712		734		671		656		7		1		63		10
Noninterest expense	334		357		333		317		327		(23)		(6)		7		2
Profit (loss) before credit losses	385		355		401		354		329		30		8		56		17
Net charge-offs	64		70		78		84		77		(6)		(9)		(13)		(17)
Income (loss) before income tax expense (benefit)	321		285		323		270		252		36		13		69		27
Income tax expense (benefit)	78		70		75		64		56		8		11		22		39
Net income (loss)	$243		$215		$248		$206		$196		$28		13	%	$47		24	%
AVERAGE BALANCES
Total assets	$67,737		$66,750		$66,134		$66,284		$65,366		$987		1	%	$2,371		4	%
Total loans and leases1	64,574		63,356		62,905		63,057		62,437		1,218		2		2,137		3
Deposits	45,354		45,443		44,482		42,481		42,178		(89)		—		3,176		8
Interest-earning assets	65,345		64,248		63,719		63,710		63,018		1,097		2		2,327		4
KEY METRICS
Net interest margin	2.84	%	2.78	%	2.78	%	2.78	%	2.83	%	6	bps			1	bps
Efficiency ratio	46.66		50.09		45.15		47.47		49.77		(343)	bps			(311)	bps
Loan-to-deposit ratio (period-end balances)	141.03		132.96		132.70		139.59		142.21		807	bps			(118)	bps
Loan-to-deposit ratio (average balances)	140.64		138.26		140.06		146.90		146.86		238	bps			(622)	bps

1 Includes loans held for sale.

SEGMENT FINANCIAL HIGHLIGHTS - OTHER

(dollars in millions)


	QUARTERLY TRENDS
OTHER1						1Q26 Change
	1Q26	4Q25	3Q25	2Q25	1Q25	4Q25			1Q25
						$	%		$	%
Net interest income	($203)	($212)	($222)	($220)	($243)	$9	4	%	$40	16	%
Noninterest income	44	43	33	39	32	1	2		12	38
Total revenue	(159)	(169)	(189)	(181)	(211)	10	6		52	25
Noninterest expense	16	2	23	39	33	14	NM		(17)	(52)
Profit (loss) before provision (benefit) for credit losses	(175)	(171)	(212)	(220)	(244)	(4)	(2)		69	28
Provision (benefit) for credit losses	5	(13)	(5)	(1)	(10)	18	NM		15	NM
Income (loss) before income tax expense (benefit)	(180)	(158)	(207)	(219)	(234)	(22)	(14)		54	23
Income tax expense (benefit)	(76)	(60)	(70)	(73)	(75)	(16)	(27)		(1)	(1)
Net income (loss)	($104)	($98)	($137)	($146)	($159)	($6)	(6	%)	$55	35	%
AVERAGE BALANCES
Total assets	$72,617	$71,940	$72,254	$72,555	$73,409	$677	1	%	($792)	(1	%)
Total loans and leases2	3,258	3,944	4,950	6,104	7,406	(686)	(17)		(4,148)	(56)
Deposits	2,835	2,926	2,928	4,376	4,799	(91)	(3)		(1,964)	(41)
Interest-earning assets	58,889	58,336	59,009	59,620	60,406	553	1		(1,517)	(3)

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

2 Includes loans held for sale.

CREDIT-RELATED INFORMATION

(dollars in millions)


	AS OF										MARCH 31, 2026 CHANGE
	Mar 31, 2026		Dec 31, 2025		Sept 30, 2025		June 30, 2025		Mar 31, 2025		Dec 31, 2025				March 31, 2025
											$/bps/%		%		$/bps/%		%
NONACCRUAL LOANS AND LEASES
Commercial and industrial	$188		$277		$230		$233		$283		($89)		(32	%)	($95)		(34	%)
Commercial real estate	679		618		703		706		700		61		10		(21)		(3)
Total commercial	867		895		933		939		983		(28)		(3)		(116)		(12)
Residential mortgages1	217		196		188		198		198		21		11		19		10
Home equity	324		319		297		282		282		5		2		42		15
Automobile	23		28		31		34		39		(5)		(18)		(16)		(41)
Education	21		20		20		19		20		1		5		1		5
Other retail	45		46		49		52		60		(1)		(2)		(15)		(25)
Total retail	630		609		585		585		599		21		3		31		5
Total nonaccrual loans and leases	1,497		1,504		1,518		1,524		1,582		(7)		—		(85)		(5)
ASSET QUALITY RATIOS
Allowance for loan and lease losses to loans and leases	1.36	%	1.36	%	1.40	%	1.44	%	1.46	%	—	bps			(10)	bps
Allowance for credit losses to loans and leases	1.52		1.53		1.56		1.59		1.61		(1)	bps			(9)	bps
Allowance for loan and lease losses to nonaccrual loans and leases	131		129		130		132		127		2	%			4	%
Allowance for credit losses to nonaccrual loans and leases	146		145		145		145		140		1	%			6	%
Nonaccrual loans and leases to loans and leases	1.04		1.05		1.08		1.09		1.15		(1)	bps			(11)	bps

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

CREDIT-RELATED INFORMATION, CONTINUED

(dollars in millions)


	AS OF					MARCH 31, 2026 CHANGE
	Mar 31, 2026	Dec 31, 2025	Sept 30, 2025	June 30, 2025	Mar 31, 2025	Dec 31, 2025			March 31, 2025
						$/bps	%		$/bps	%
LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING
Commercial and industrial	$1	$5	$39	$3	$9	($4)	(80	%)	($8)	(89	%)
Commercial real estate	26	20	7	60	4	6	30		22	NM
Total commercial	27	25	46	63	13	2	8		14	108
Residential mortgages1	179	141	114	128	138	38	27		41	30
Home equity	—	1	—	—	—	(1)	(100)		—	—
Automobile	—	—	—	—	—	—	—		—	—
Education	2	2	2	2	3	—	—		(1)	(33)
Other retail	—	—	—	1	1	—	—		(1)	(100)
Total retail	181	144	116	131	142	37	26		39	27
Total loans and leases	$208	$169	$162	$194	$155	$39	23	%	$53	34	%

1 90+ days past due and accruing includes $179 million, $141 million, $114 million, $128 million, and $137 million of loans fully or partially guaranteed by the FHA, VA, and USDA for March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025 and March 31, 2025, respectively.

CREDIT-RELATED INFORMATION, CONTINUED

(dollars in millions)


	QUARTERLY TRENDS
						1Q26 Change
	1Q26	4Q25	3Q25	2Q25	1Q25	4Q25			1Q25
						$	%		$	%
CHARGE-OFFS, RECOVERIES AND RELATED RATIOS
GROSS CHARGE-OFFS
Commercial and industrial	$50	$40	$33	$39	$34	$10	25	%	$16	47	%
Commercial real estate	41	42	58	54	51	(1)	(2)		(10)	(20)
Total commercial	91	82	91	93	85	9	11		6	7
Residential mortgages	1	5	1	—	1	(4)	(80)		—	—
Home equity	6	5	3	4	5	1	20		1	20
Automobile	9	12	13	14	20	(3)	(25)		(11)	(55)
Education	22	26	25	26	56	(4)	(15)		(34)	(61)
Other retail	54	57	62	64	67	(3)	(5)		(13)	(19)
Total retail	92	105	104	108	149	(13)	(12)		(57)	(38)
Total gross charge-offs	$183	$187	$195	$201	$234	($4)	(2	%)	($51)	(22	%)
GROSS RECOVERIES
Commercial and industrial	$15	$6	$3	$—	$4	$9	150	%	$11	NM
Commercial real estate	3	1	3	1	—	2	200		3	100
Total commercial	18	7	6	1	4	11	157		14	NM
Residential mortgages	3	—	1	—	1	3	100		2	200
Home equity	4	5	6	6	5	(1)	(20)		(1)	(20)
Automobile	7	9	9	11	12	(2)	(22)		(5)	(42)
Education	6	6	5	8	5	—	—		1	20
Other retail	7	5	6	8	7	2	40		—	—
Total retail	27	25	27	33	30	2	8		(3)	(10)
Total gross recoveries	$45	$32	$33	$34	$34	$13	41	%	$11	32	%
NET CHARGE-OFFS (RECOVERIES)
Commercial and industrial	$35	$34	$30	$39	$30	$1	3	%	$5	17	%
Commercial real estate	38	41	55	53	51	(3)	(7)		(13)	(25)
Total commercial	73	75	85	92	81	(2)	(3)		(8)	(10)
Residential mortgages	(2)	5	—	—	—	(7)	NM		(2)	(100)
Home equity	2	—	(3)	(2)	—	2	100		2	100
Automobile	2	3	4	3	8	(1)	(33)		(6)	(75)
Education	16	20	20	18	51	(4)	(20)		(35)	(69)
Other retail	47	52	56	56	60	(5)	(10)		(13)	(22)
Total retail	65	80	77	75	119	(15)	(19)		(54)	(45)
Total net charge-offs	$138	$155	$162	$167	$200	($17)	(11	%)	($62)	(31	%)

CREDIT-RELATED INFORMATION, CONTINUED

(dollars in millions)


	QUARTERLY TRENDS
											1Q26 Change
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
											$/bps		%		$/bps		%
ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES
Commercial and industrial	0.28	%	0.28	%	0.26	%	0.35	%	0.28	%	—	bps			—	bps
Commercial real estate	0.64		0.64		0.85		0.80		0.77		—				(13)
Total commercial	0.40		0.40		0.47		0.51		0.47		—				(7)
Residential mortgages	(0.02)		0.05		—		—		0.01		(7)				(3)
Home equity	0.04		—		(0.06)		(0.05)		(0.01)		4				5
Automobile	0.35		0.60		0.43		0.36		0.73		(25)				(38)
Education	0.80		0.94		0.92		0.86		1.92		(14)				(112)
Other retail	4.74		5.02		5.45		5.23		5.46		(28)				(72)
Total retail	0.38		0.46		0.45		0.45		0.70		(8)				(32)
Total loans and leases	0.39	%	0.43	%	0.46	%	0.48	%	0.58	%	(4)	bps			(19)	bps
Memo: Average loans
Commercial and industrial	$50,140		$48,108		$46,351		$44,936		$43,599		$2,032		4	%	$6,541		15	%
Commercial real estate	24,401		25,043		25,799		26,487		27,013		(642)		(3)		(2,612)		(10)
Total commercial	74,541		73,151		72,150		71,423		70,612		1,390		2		3,929		6
Residential mortgages	35,090		34,752		34,134		33,420		32,872		338		1		2,218		7
Home equity	19,230		18,754		18,027		17,324		16,647		476		3		2,583		16
Automobile	2,090		2,557		3,096		3,705		4,394		(467)		(18)		(2,304)		(52)
Education	8,442		8,469		8,513		8,660		10,690		(27)		—		(2,248)		(21)
Other retail	4,017		4,074		4,091		4,277		4,495		(57)		(1)		(478)		(11)
Total retail	68,869		68,606		67,861		67,386		69,098		263		—		(229)		—
Total loans and leases	$143,410		$141,757		$140,011		$138,809		$139,710		$1,653		1	%	$3,700		3	%

CREDIT-RELATED INFORMATION, CONTINUED

(dollars in millions)


	QUARTERLY TRENDS
						1Q26 Change
	1Q26	4Q25	3Q25	2Q25	1Q25	4Q25			1Q25
						$	%		$	%
SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES
Allowance for loan and lease losses - beginning	$1,943	$1,972	$2,008	$2,014	$2,061	($29)	(1	%)	($118)	(6	%)









Charge-offs:
Commercial	91	82	91	93	85	9	11		6	7
Retail	92	105	104	108	149	(13)	(12)		(57)	(38)
Total charge-offs	183	187	195	201	234	(4)	(2)		(51)	(22)
Recoveries:
Commercial	18	7	6	1	4	11	157		14	NM
Retail	27	25	27	33	30	2	8		(3)	(10)
Total recoveries	45	32	33	34	34	13	41		11	32
Net charge-offs	138	155	162	167	200	(17)	(11)		(62)	(31)
Provision (benefit) for loan and lease losses:
Commercial	130	50	62	50	89	80	160		41	46
Retail	23	76	64	111	64	(53)	(70)		(41)	(64)
Total provision (benefit) for loan and lease losses	153	126	126	161	153	27	21		—	—
Allowance for loan and lease losses - ending	$1,958	$1,943	$1,972	$2,008	$2,014	$15	1	%	($56)	(3	%)

Allowance for unfunded lending commitments - beginning	$240	$229	$201	$198	$198	$11	5	%	$42	21	%


Provision (benefit) for unfunded lending commitments	(13)	11	28	3	—	(24)	NM		(13)	(100)
Allowance for unfunded lending commitments - ending	$227	$240	$229	$201	$198	($13)	(5	%)	$29	15	%
Total allowance for credit losses - ending	$2,185	$2,183	$2,201	$2,209	$2,212	$2	—	%	($27)	(1	%)

Memo: Total allowance for credit losses by product
Commercial	$1,304	$1,252	$1,265	$1,269	$1,312	$52	4	%	($8)	(1	%)
Retail	881	931	936	940	900	(50)	(5)		(19)	(2)
Total allowance for credit losses	$2,185	$2,183	$2,201	$2,209	$2,212	$2	—	%	($27)	(1	%)

CAPITAL AND RATIOS

(dollars in millions)


	AS OF
											MARCH 31, 2026 CHANGE
	Mar 31, 2026		Dec 31, 2025		Sept 30, 2025		June 30, 2025		Mar 31, 2025		Dec 31, 2025			March 31, 2025
											$	%		$	%
CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)
CET1 capital	$18,178		$18,240		$18,046		$17,812		$17,751		($62)	—	%	$427	2	%
Tier 1 capital	20,289		20,351		20,157		19,925		19,864		(62)	—		425	2
Total capital	23,751		23,654		23,455		23,221		23,156		97	—		595	3
Risk-weighted assets	173,268		171,493		168,932		168,017		166,908		1,775	1		6,360	4
Adjusted average assets1	218,192		215,321		213,536		212,450		211,119		2,871	1		7,073	3
CET1 capital ratio	10.5	%	10.6	%	10.7	%	10.6	%	10.6	%
Tier 1 capital ratio	11.7		11.9		11.9		11.9		11.9
Total capital ratio	13.7		13.8		13.9		13.8		13.9
Tier 1 leverage ratio	9.3		9.5		9.4		9.4		9.4
TANGIBLE COMMON EQUITY (PERIOD-END)
Common stockholders' equity	$24,061		$24,206		$23,718		$23,121		$22,753		($145)	(1	%)	$1,308	6	%
Less: Goodwill	8,221		8,187		8,187		8,187		8,187		34	—		34	—
Less: Other intangible assets	112		115		123		128		137		(3)	(3)		(25)	(18)
Add: Deferred tax liabilities2	437		437		440		440		438		—	—		(1)	—
Total tangible common equity3	$16,165		$16,341		$15,848		$15,246		$14,867		($176)	(1	%)	$1,298	9	%
TANGIBLE COMMON EQUITY (AVERAGE)
Common stockholders' equity	$23,995		$23,823		$23,288		$22,494		$22,188		$172	1	%	$1,807	8	%
Less: Goodwill	8,198		8,187		8,187		8,187		8,187		11	—		11	—
Less: Other intangible assets	114		120		126		134		142		(6)	(5)		(28)	(20)
Add: Deferred tax liabilities2	437		440		440		438		438		(3)	(1)		(1)	—
Total tangible common equity3	$16,120		$15,956		$15,415		$14,611		$14,297		$164	1	%	$1,823	13	%
INTANGIBLE ASSETS (PERIOD-END)
Goodwill	$8,221		$8,187		$8,187		$8,187		$8,187		$34	—	%	$34	—	%
Other intangible assets	112		115		123		128		137		(3)	(3)		(25)	(18)
Total intangible assets	$8,333		$8,302		$8,310		$8,315		$8,324		$31	—	%	$9	—	%

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

2 Deferred tax liabilities relate to tax-deductible goodwill and other intangible assets.

3 These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS

(dollars in millions, except per share data)

Non-GAAP Financial Measures

This document contains non-GAAP financial measures that we believe provide useful information to investors to understand our results of operations or financial condition. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP financial measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP. The following tables present reconciliations of our non-GAAP financial measures to the most directly comparable GAAP financial measures.

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED

(dollars in millions, except per share data)


		QUARTERLY TRENDS
												1Q26 Change
		1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
												$		%		$		%
Pre-provision profit:
Total revenue (GAAP)	A	$2,168		$2,157		$2,118		$2,037		$1,935		$11		1	%	$233		12	%
Less: Noninterest expense (GAAP)	B	1,378		1,343		1,335		1,319		1,314		35		3		64		5
Pre-provision profit (non-GAAP)		$790		$814		$783		$718		$621		($24)		(3	%)	$169		27	%
Book value per common share and tangible book value per common share:
Common shares - at period-end (GAAP)	C	426,023,578		429,242,174		431,453,142		432,768,811		437,668,127		(3,218,596)		(1	%)	(11,644,549)		(3	%)
Common stockholders' equity (GAAP)	D	$24,061		$24,206		$23,718		$23,121		$22,753		($145)		(1)		$1,308		6
Less: Goodwill (GAAP)		8,221		8,187		8,187		8,187		8,187		34		—		34		—
Less: Other intangible assets (GAAP)		112		115		123		128		137		(3)		(3)		(25)		(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		437		440		440		438		—		—		(1)		—
Tangible common equity (non-GAAP)	E	$16,165		$16,341		$15,848		$15,246		$14,867		($176)		(1	%)	$1,298		9	%
Book value per common share (GAAP)	D/C	$56.48		$56.39		$54.97		$53.43		$51.99		$0.09		—	%	$4.49		9	%
Tangible book value per common share (non-GAAP)	E/C	37.94		38.07		36.73		35.23		33.97		(0.13)		—		3.97		12
Net interest income and net interest margin on an FTE basis:
Net interest income (annualized) (GAAP)	F	$6,337		$6,098		$5,902		$5,770		$5,637		$239		4	%	$700		12	%
Average interest-earning assets (GAAP)	G	201,929		199,167		197,598		196,318		195,058		2,762		1		6,871		4
Net interest margin (GAAP)	F/G	3.14	%	3.06	%	2.99	%	2.94	%	2.89	%	8	bps			25	bps
Net interest income (GAAP)		$1,562		$1,537		$1,488		$1,437		$1,391		$25		2	%	$171		12	%
FTE adjustment		3		4		4		4		4		(1)		(25)		(1)		(25)
Net interest income on an FTE basis (non-GAAP)		1,565		1,541		1,492		1,441		1,395		24		2		170		12
Net interest income on an FTE basis (annualized) (non-GAAP)	H	6,350		6,112		5,919		5,786		5,653		238		4		697		12
Net interest margin on an FTE basis (non-GAAP)	H/G	3.14	%	3.07	%	3.00	%	2.95	%	2.90	%	7	bps			24	bps
Return on average common equity and return on average tangible common equity:
Net income available to common stockholders (GAAP)	I	$484		$489		$457		$402		$340		($5)		(1	%)	$144		42	%
Average common equity (GAAP)	J	$23,995		$23,823		$23,288		$22,494		$22,188		$172		1		$1,807		8
Less: Average goodwill (GAAP)		8,198		8,187		8,187		8,187		8,187		11		—		11		—
Less: Average other intangibles (GAAP)		114		120		126		134		142		(6)		(5)		(28)		(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		440		440		438		438		(3)		(1)		(1)		—
Average tangible common equity (non-GAAP)	K	$16,120		$15,956		$15,415		$14,611		$14,297		$164		1	%	$1,823		13	%
Return on average common equity (GAAP)	I/J	8.19	%	8.16	%	7.77	%	7.18	%	6.21	%	3	bps			198	bps
Return on average tangible common equity (non-GAAP)	I/K	12.19	%	12.18	%	11.75	%	11.05	%	9.64	%	1	bps			255	bps
Return on average total assets and return on average total tangible assets:
Net income (GAAP)	L	$517		$528		$494		$436		$373		($11)		(2	%)	$144		39	%
Average total assets (GAAP)	M	$224,224		$221,242		$219,117		$217,661		$216,309		$2,982		1		$7,915		4
Less: Average goodwill (GAAP)		8,198		8,187		8,187		8,187		8,187		11		—		11		—
Less: Average other intangibles (GAAP)		114		120		126		134		142		(6)		(5)		(28)		(20)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		440		440		438		438		(3)		(1)		(1)		—
Average tangible assets (non-GAAP)	N	$216,349		$213,375		$211,244		$209,778		$208,418		$2,974		1	%	$7,931		4	%
Return on average total assets (GAAP)	L/M	0.94	%	0.95	%	0.90	%	0.80	%	0.70	%	(1)	bps			24	bps
Return on average total tangible assets (non-GAAP)	L/N	0.97	%	0.98	%	0.93	%	0.83	%	0.73	%	(1)	bps			24	bps

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED

(dollars in millions, except per share data)


		QUARTERLY TRENDS
												1Q26 Change
		1Q26		4Q25		3Q25		2Q25		1Q25		4Q25			1Q25
												$/bps	%		$/bps	%
Common equity ratio and tangible common equity ratio:
Total assets (GAAP)	O	$227,918		$226,351		$222,747		$218,310		$220,148		$1,567	1	%	$7,770	4	%
Less: Goodwill (GAAP)		8,221		8,187		8,187		8,187		8,187		34	—		34	—
Less: Other intangible assets (GAAP)		112		115		123		128		137		(3)	(3)		(25)	(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)		437		437		440		440		438		—	—		(1)	—
Tangible assets (non-GAAP)	P	$220,022		$218,486		$214,877		$210,435		$212,262		$1,536	1	%	$7,760	4	%
Common equity ratio (GAAP)	D/O	10.6	%	10.7	%	10.6	%	10.6	%	10.3	%	(13) bps			22 bps
Tangible common equity ratio (non-GAAP)	E/P	7.3		7.5		7.4		7.2		7.0		(20) bps			30 bps