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BUSINESS OPERATING SEGMENTS | 3 Months Ended
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Mar. 31, 2024
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 three business operating segments are Consumer Banking, Commercial Banking, and Non-Core. The business operating segments are determined based on the products and services provided, or the type of customer served. Each business operating segment has a segment head that reports directly to the Chief Executive Officer, who has final authority over resource allocation decisions and performance assessment. The business operating segments reflect this management structure and the manner in which financial information is currently evaluated by the Chief Executive Officer. Developing and applying methodologies used to allocate items among the business operating segments is a dynamic process. Accordingly, financial results may be revised periodically as management systems are enhanced, methods of evaluating performance or product lines are updated, or organizational structure changes occur. See Note 1 for a description of segment changes made during the third quarter of 2023. For more information on the Company’s business operating segments, as well as Other non-segment operations, see Note 26 in the Company’s 2023 Form 10-K.
| Three Months Ended March 31, 2024
(dollars in millions) | Consumer Banking |  | Commercial Banking |  | Non-Core |  | Other |  | Consolidated
Net interest income | $1,093 |  |  | $514 |  |  | ($37) |  |  | ($128) |  |  | $1,442 |
Noninterest income | 258 |  |  | 227 |  |  | — |  |  | 32 |  |  | 517 |
Total revenue | 1,351 |  |  | 741 |  |  | (37) |  |  | (96) |  |  | 1,959 |
Noninterest expense | 903 |  |  | 317 |  |  | 25 |  |  | 113 |  |  | 1,358 |
Profit (loss) before provision (benefit) for credit losses | 448 |  |  | 424 |  |  | (62) |  |  | (209) |  |  | 601 |
Provision (benefit) for credit losses | 81 |  |  | 81 |  |  | 19 |  |  | (10) |  |  | 171 |
Income (loss) before income tax expense (benefit) | 367 |  |  | 343 |  |  | (81) |  |  | (199) |  |  | 430 |
Income tax expense (benefit) | 95 |  |  | 84 |  |  | (21) |  |  | (62) |  |  | 96 |
Net income (loss) | $272 |  |  | $259 |  |  | ($60) |  |  | ($137) |  |  | $334 |
Total average assets | $73,833 |  |  | $70,100 |  |  | $10,554 |  |  | $66,283 |  |  | $220,770 |
| Three Months Ended March 31, 2023
(dollars in millions) | Consumer Banking |  | Commercial Banking |  | Non-Core |  | Other |  | Consolidated
Net interest income | $1,011 |  |  | $597 |  |  | ($15) |  |  | $50 |  |  | $1,643 |
Noninterest income | 256 |  |  | 201 |  |  | — |  |  | 28 |  |  | 485 |
Total revenue | 1,267 |  |  | 798 |  |  | (15) |  |  | 78 |  |  | 2,128 |
Noninterest expense | 857 |  |  | 331 |  |  | 32 |  |  | 76 |  |  | 1,296 |
Profit (loss) before provision (benefit) for credit losses | 410 |  |  | 467 |  |  | (47) |  |  | 2 |  |  | 832 |
Provision (benefit) for credit losses | 63 |  |  | 47 |  |  | 21 |  |  | 37 |  |  | 168 |
Income (loss) before income tax expense (benefit) | 347 |  |  | 420 |  |  | (68) |  |  | (35) |  |  | 664 |
Income tax expense (benefit) | 90 |  |  | 101 |  |  | (18) |  |  | (20) |  |  | 153 |
Net income (loss) | $257 |  |  | $319 |  |  | ($50) |  |  | ($15) |  |  | $511 |
Total average assets | $71,872 |  |  | $78,891 |  |  | $15,686 |  |  | $56,262 |  |  | $222,711 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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