BUSINESS OPERATING SEGMENTS

6 Months Ended

Jun. 30, 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 June 30, 2023
(dollars in millions)	Consumer Banking	Commercial Banking	Other	Consolidated
Net interest income	$1,104	$584	($100)	$1,588
Noninterest income	268	207	31	506
Total revenue	1,372	791	(69)	2,094
Noninterest expense	908	315	83	1,306
Profit (loss) before provision (benefit) for credit losses	464	476	(152)	788
Provision (benefit) for credit losses	82	71	23	176
Income (loss) before income tax expense (benefit)	382	405	(175)	612
Income tax expense (benefit)	100	100	(66)	134
Net income (loss)	$282	$305	($109)	$478
Total average assets	$87,040	$77,546	$57,787	$222,373

	As of and for the Three Months Ended June 30, 2022
(dollars in millions)	Consumer Banking	Commercial Banking	Other	Consolidated
Net interest income	$995	$534	($24)	$1,505
Noninterest income	280	221	(7)	494
Total revenue	1,275	755	(31)	1,999
Noninterest expense	881	308	116	1,305
Profit (loss) before provision (benefit) for credit losses	394	447	(147)	694
Provision (benefit) for credit losses	39	10	167	216
Income (loss) before income tax expense (benefit)	355	437	(314)	478
Income tax expense (benefit)	90	96	(72)	114
Net income (loss)	$265	$341	($242)	$364
Total average assets	$88,881	$78,638	$53,448	$220,967

	As of and for the Six Months Ended June 30, 2023
(dollars in millions)	Consumer Banking	Commercial Banking	Other	Consolidated
Net interest income	$2,200	$1,181	($150)	$3,231
Noninterest income	524	408	59	991
Total revenue	2,724	1,589	(91)	4,222
Noninterest expense	1,797	646	159	2,602
Profit (loss) before provision (benefit) for credit losses	927	943	(250)	1,620
Provision (benefit) for credit losses	165	118	61	344
Income (loss) before income tax expense (benefit)	762	825	(311)	1,276
Income tax expense (benefit)	199	201	(113)	287
Net income (loss)	$563	$624	($198)	$989
Total average assets	$87,298	$78,215	$57,028	$222,541

	As of and for the Six Months Ended June 30, 2022
(dollars in millions)	Consumer Banking	Commercial Banking	Other	Consolidated
Net interest income	$1,852	$950	($150)	$2,652
Noninterest income	537	434	21	992
Total revenue	2,389	1,384	(129)	3,644
Noninterest expense	1,665	580	166	2,411
Profit (loss) before provision (benefit) for credit losses	724	804	(295)	1,233
Provision (benefit) for credit losses	88	22	109	219
Income (loss) before income tax expense (benefit)	636	782	(404)	1,014
Income tax expense (benefit)	162	170	(102)	230
Net income (loss)	$474	$612	($302)	$784
Total average assets	$83,247	$69,927	$51,558	$204,732

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.