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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Deposits
| Table 19: Composition of Deposits | ||||
|---|---|---|---|---|
| (dollars in millions) | December 31, 2024 | % of Total Deposits | December 31, 2023 | % of Total Deposits |
| Noninterest-bearing demand | $36,920 | 21% | $37,107 | 21% |
| Money market | 55,321 | 32 | 53,812 | 30 |
| Checking with interest | 33,246 | 19 | 31,876 | 18 |
| Savings | 25,976 | 15 | 27,983 | 16 |
| Time | 23,313 | 13 | 26,564 | 15 |
| Total deposits | $174,776 | 100% | $177,342 | 100% |
Total deposits as of December 31, 2024 decreased compared to December 31, 2023, reflecting a decline in higher-cost Treasury deposits and lower commercial balances, largely offset by growth in Private Bank deposits.
| Table 20: Uninsured and Insured/Secured Deposits | ||
|---|---|---|
| (dollars in millions) | December 31, 2024 | December 31, 2023 |
| Total deposits | $174,776 | $177,342 |
| Estimated uninsured deposits(1) | 76,764 | 73,584 |
| Less: Uninsured affiliate deposits eliminated in consolidation | 12,705 | 14,650 |
| Less: Preferred deposits(1)(2) | 6,902 | 7,486 |
| CFG adjusted estimated uninsured deposits, excluding preferred deposits | 57,157 | 51,448 |
| Total estimated insured/secured deposits | $117,619 | $125,894 |
| Insured/secured deposits to total deposits | 67% | 71% |
(1) As reported on CBNA’s Call Report.
(2) Represents uninsured deposits of states and political subdivisions that are secured or collateralized as required under state law.
Citizens Financial Group, Inc. | 55
| Table 21: Time Deposits in Excess of the FDIC Insurance Limit by Remaining Maturity | |
|---|---|
| (dollars in millions) | December 31, 2024 |
| Three months or less | $1,499 |
| After three months through six months | 936 |
| After six months through twelve months | 597 |
| After twelve months | 19 |
| Total time deposits(1) | $3,051 |
(1) Includes time deposits per account in excess of $250,000.
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