BUSINESS OPERATING SEGMENTS

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

BUSINESS OPERATING SEGMENTS

NOTE 17 - BUSINESS OPERATING SEGMENTS

Citizens is managed by its Chief Executive Officer on a segment basis. The Company’s two business operating segments are Consumer Banking and Commercial Banking. The business segments are determined based on the products and services provided, or the type of customer served. Each segment has a segment head who reports directly to the Chief Executive Officer. The Chief Executive Officer has final authority over resource allocation decisions and performance assessment. The business segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer. For more information on our business operating segments, as well as Other non-segment operations, see Note 25 in the Company’s 2018 Form 10-K.

	As of and for the Three Months Ended September 30, 2019
(in millions)	Consumer Banking		Commercial Banking		Other			Consolidated
Net interest income		$799		$360		($14	)		$1,145
Noninterest income	336		133		24			493
Total revenue	1,135		493		10			1,638
Noninterest expense	718		213		42			973
Profit (loss) before provision for credit losses	417		280		(32		)	665
Provision for credit losses	83		27		(9		)	101
Income (loss) before income tax expense (benefit)	334		253		(23		)	564
Income tax expense (benefit)	83		57		(25		)	115
Net income		$251		$196		$2			$449
Total average assets		$66,365		$55,614		$40,131			$162,110

	As of and for the Three Months Ended September 30, 2018
(in millions)	Consumer Banking		Commercial Banking		Other			Consolidated
Net interest income		$776		$380		($8	)		$1,148
Noninterest income	258		140		18			416
Total revenue	1,034		520		10			1,564
Noninterest expense	686		202		22			910
Profit (loss) before provision for credit losses	348		318		(12		)	654
Provision for credit losses	71		14		(7		)	78
Income (loss) before income tax expense (benefit)	277		304		(5		)	576
Income tax expense (benefit)	70		70		(7		)	133
Net income		$207		$234		$2			$443
Total average assets		$62,974		$52,871		$39,779			$155,624

	As of and for the Nine Months Ended September 30, 2019
(in millions)	Consumer Banking		Commercial Banking		Other			Consolidated
Net interest income		$2,386		$1,103		($18	)		$3,471
Noninterest income	860		432		91			1,383
Total revenue	3,246		1,535		73			4,854
Noninterest expense	2,133		639		89			2,861
Profit (loss) before provision for credit losses	1,113		896		(16		)	1,993
Provision for credit losses	228		73		(18		)	283
Income before income tax expense (benefit)	885		823		2			1,710
Income tax expense (benefit)	219		184		(34		)	369
Net income		$666		$639		$36			$1,341
Total average assets		$65,624		$55,793		$39,927			$161,344

	As of and for the Nine Months Ended September 30, 2018
(in millions)	Consumer Banking		Commercial Banking		Other			Consolidated
Net interest income		$2,268		$1,113		($21	)		$3,360
Noninterest income	708		405		62			1,175
Total revenue	2,976		1,518		41			4,535
Noninterest expense	2,000		610		58			2,668
Profit (loss) before provision for credit losses	976		908		(17		)	1,867
Provision for credit losses	209		19		13			241
Income (loss) before income tax expense (benefit)	767		889		(30		)	1,626
Income tax expense (benefit)	193		203		(26		)	370
Net income (loss)		$574		$686		($4	)		$1,256
Total average assets		$61,857		$51,820		$39,805			$153,482

There have been no significant changes in the management accounting practices utilized by the Company regarding the basis of presentation for segment results as discussed in Note 25 in the Company’s 2018 Form 10-K.