BUSINESS OPERATING SEGMENTS

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

BUSINESS OPERATING SEGMENTS

NOTE 16 - 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 the Company’s business operating segments, as well as Other non-segment operations, see Note 26 in the Company’s 2022 Form 10-K.

	As of and for the Three Months Ended March 31, 2023
(dollars in millions)	Consumer Banking	Commercial Banking	Other	Consolidated
Net interest income	$1,096	$597	($50)	$1,643
Noninterest income	256	201	28	485
Total revenue	1,352	798	(22)	2,128
Noninterest expense	889	331	76	1,296
Profit (loss) before provision (benefit) for credit losses	463	467	(98)	832
Provision (benefit) for credit losses	83	47	38	168
Income (loss) before income tax expense (benefit)	380	420	(136)	664
Income tax expense (benefit)	99	101	(47)	153
Net income (loss)	$281	$319	($89)	$511
Total average assets	$87,558	$78,891	$56,262	$222,711

	As of and for the Three Months Ended March 31, 2022
(dollars in millions)	Consumer Banking	Commercial Banking	Other	Consolidated
Net interest income	$857	$416	($126)	$1,147
Noninterest income	257	213	28	498
Total revenue	1,114	629	(98)	1,645
Noninterest expense	784	272	50	1,106
Profit (loss) before provision (benefit) for credit losses	330	357	(148)	539
Provision (benefit) for credit losses	49	12	(58)	3
Income (loss) before income tax expense (benefit)	281	345	(90)	536
Income tax expense (benefit)	72	74	(30)	116
Net income (loss)	$209	$271	($60)	$420
Total average assets	$77,551	$61,118	$49,648	$188,317

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 26 in the Company’s 2022 Form 10-K.