CITIZENS FINANCIAL GROUP INCRI
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
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Consolidated Balance Sheets
| December 31, | ||
|---|---|---|
| (dollars in millions, except par value) | 2024 | 2023 |
| ASSETS: | ||
| Cash and due from banks(1) | $1,409 | $1,794 |
| Interest-bearing cash and due from banks | 9,192 | 9,834 |
| Interest-bearing deposits in banks(1) | 635 | 405 |
| Debt securities available for sale, at fair value (including $152 and $110 pledged to creditors, respectively)(2) | 32,765 | 29,777 |
| Debt securities held to maturity (fair value of $7,540 and $8,350, respectively, and including $83 and $204 pledged to creditors, respectively)(2) | 8,599 | 9,184 |
| Loans held for sale (includes $825 and $676, respectively, measured at fair value)(3) | 858 | 779 |
| Loans and leases | 139,203 | 145,959 |
| Less: Allowance for loan and lease losses | (2,061) | (2,098) |
| Net loans and leases(1) | 137,142 | 143,861 |
| Derivative assets | 408 | 440 |
| Premises and equipment, net | 875 | 895 |
| Bank-owned life insurance | 3,364 | 3,291 |
| Goodwill | 8,187 | 8,188 |
| Other intangible assets(4) | 146 | 157 |
| Other assets(1) | 13,941 | 13,359 |
| TOTAL ASSETS | $217,521 | $221,964 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY: | ||
| LIABILITIES: | ||
| Deposits: | ||
| Noninterest-bearing | $36,920 | $37,107 |
| Interest-bearing | 137,856 | 140,235 |
| Total deposits | 174,776 | 177,342 |
| Short-term borrowed funds | — | 505 |
| Derivative liabilities | 1,220 | 1,562 |
| Long-term borrowed funds(1) | 12,401 | 13,467 |
| Other liabilities(1) | 4,870 | 4,746 |
| TOTAL LIABILITIES | 193,267 | 197,622 |
| Commitments and Contingencies (refer to Note 19) | ||
| STOCKHOLDERS’ EQUITY: | ||
| Preferred Stock: | ||
| $25.00 par value,100,000,000 shares authorized; 2,150,000 and 2,050,000 shares issued and outstanding at December 31, 2024 and 2023, respectively | 2,113 | 2,014 |
| Common stock: | ||
| $0.01 par value, 1,000,000,000 shares authorized; 650,068,324 shares issued and 440,543,381 shares outstanding at December 31, 2024 and 647,829,720 shares issued and 466,418,055 shares outstanding at December 31, 2023 | 7 | 6 |
| Additional paid-in capital | 22,364 | 22,250 |
| Retained earnings | 10,412 | 9,816 |
| Treasury stock, at cost, 209,524,943 and 181,411,665 shares at December 31, 2024 and 2023, respectively | (7,047) | (5,986) |
| Accumulated other comprehensive income (loss) | (3,595) | (3,758) |
| TOTAL STOCKHOLDERS’ EQUITY | 24,254 | 24,342 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $217,521 | $221,964 |
(1) Includes amounts in consolidated VIEs. See Note 11 for additional information.
(2) Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.
(3) See Note 1 for information regarding updates to the Consolidated Balance Sheets during 2024.
(4) Excludes MSRs, which are reported in Other assets.
Citizens Financial Group, Inc. | 87
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