Citizens Financial (CFG) 8-K Diluted EPS of $0.40,up 18% from third quarter 2014

3Q15 Financial Results

October 23, 2015

Exhibit 99.2

Forward-looking statements

1

This

document

contains

forward-looking

statements

within

the

Private

Securities

Litigation

Reform

Act

of

1995.

Any

statement

that

does

not

describe

historical

or

current

facts

is

a

forward-looking

statement.

These

statements

often

include

the

words

“believes,”

“expects,”

“anticipates,”

“estimates,”

“intends,”

“plans,”

“goals,”

“targets,”

“initiatives,”

“potentially,”

“probably,”

“projects,”

“outlook”

or

similar

expressions

or

future

conditional

verbs

such

as

“may,”

“will,”

“should,”

“would,”

and

“could.”

Forward-looking

statements

are

based

upon

the

current

beliefs

and

expectations

of

management,

and

on

information

currently

available

to

management.

Our

statements

speak

as

of

the

date

hereof,

and

we

do

not

assume

any

obligation

to

update

these

statements

or

to

update

the

reasons

why

actual

results

could

differ

from

those

contained

in

such

statements

in

light

of

new

information

or

future

events.

We

caution

you,

therefore,

against

relying

on

any

of

these

forward-looking

statements.

They

are

neither

statements

of

historical

fact

nor

guarantees

or

assurances

of

future

performance.

While

there

is

no

assurance

that

any

list

of

risks

and

uncertainties

or

risk

factors

is

complete,

important

factors

that

could

cause

actual

results

to

differ

materially

from

those

in

the

forward-looking

statements

include

the

following,

without

limitation:

negative

economic

conditions

that

adversely

affect

the

general

economy,

housing

prices,

the

job

market,

consumer

confidence

and

spending

habits

which

may

affect,

among

other

things,

the

level

of

nonperforming

assets,

charge-offs

and

provision

expense;

the

rate

of

growth

in

the

economy

and

employment

levels,

as

well

as

general

business

and

economic

conditions;

our

ability

to

implement

our

strategic

plan,

including

the

cost

savings

and

efficiency

components,

and

achieve

our

indicative

performance

targets;

our

ability

to

remedy

regulatory

deficiencies

and

meet

supervisory

requirements

and

expectations;

liabilities

and

business

restrictions

resulting

from

litigation

and

regulatory

investigations;

our

capital

and

liquidity

requirements

(including

under

regulatory

capital

standards,

such

as

the

Basel

III

capital

standards)

and

our

ability

to

generate

capital

internally

or

raise

capital

on

favorable

terms;

the

effect

of

the

current

low

interest

rate

environment

or

changes

in

interest

rates

on

our

net

interest

income,

net

interest

margin

and

our

mortgage

originations,

mortgage

servicing

rights

and

mortgages

held

for

sale;

changes

in

interest

rates

and

market

liquidity,

as

well

as

the

magnitude

of

such

changes,

which

may

reduce

interest

margins,

impact

funding

sources

and

affect

the

ability

to

originate

and

distribute

financial

products

in

the

primary

and

secondary

markets;

the

effect

of

changes

in

the

level

of

checking

or

savings

account

deposits

on

our

funding

costs

and

net

interest

margin;

financial

services

reform

and

other

current,

pending

or

future

legislation

or

regulation

that

could

have

a

negative

effect

on

our

revenue

and

businesses,

including

the

Dodd-

Frank

Act

and

other

legislation

and

regulation

relating

to

bank

products

and

services;

a

failure

in

or

breach

of

our

operational

or

security

systems

or

infrastructure,

or

those

of

our

third

party

vendors

or

other

service

providers,

including

as

a

result

of

cyber

attacks;

management’s

ability

to

identify

and

manage

these

and

other

risks;

and

any

failure

by

us

to

successfully

replicate

or

replace

certain

functions,

systems

and

infrastructure

provided

by

The

Royal

Bank

of

Scotland

Group

plc

(RBS).

In

addition

to

the

above

factors,

we

also

caution

that

the

amount

and

timing

of

any

future

common

stock

dividends

or

share

repurchases

will

depend

on

our

financial

condition,

earnings,

cash

needs,

regulatory

constraints,

capital

requirements

(including

requirements

of

our

subsidiaries),

and

any

other

factors

that

our

board

of

directors

deems

relevant

in

making

such

a

determination.

Therefore,

there

can

be

no

assurance

that

we

will

pay

any

dividends

to

holders

of

our

common

stock,

or

as

to

the

amount

of

any

such

dividends.

In

addition,

the

timing

and

manner

of

the

sale

of

RBS’s

remaining

ownership

of

our

common

stock

remains

uncertain,

and

we

have

no

control

over

the

manner

in

which

RBS

may

seek

to

divest

such

remaining

shares.

Any

such

sale

would

impact

the

price

of

our

shares

of

common

stock.

More

information

about

factors

that

could

cause

actual

results

to

differ

materially

from

those

described

in

the

forward-looking

statements

can

be

found

under

“Risk

Factors”

in

Part

I,

Item

1A

in

our

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2014,

filed

with

the

United

States

Securities

and

Exchange

Commission

on

March

3,

2015.

Note:

Percentage

changes,

per

share

amounts,

and

ratios

presented

in

this

document

are

calculated

using

whole

dollars.

3Q15 highlights

2

1)

Adjusted

results

are

non-GAAP

items.

Where

there

is

a

reference

to

an

“Adjusted”

result

in

a

paragraph,

all

measures

which

follow

that

“Adjusted”

result

are

also

“Adjusted”

and

exclude

restructuring

charges

and

special

items

as

applicable.

See

important

information

on

use

of

Non-GAAP

items

in

the

Appendix.

There

were

no

restructuring

charges

or

special

items

recorded

in

third

quarter

2015.

Improving

profitability and

returns

Diluted EPS of $0.40 compares with Adjusted diluted EPS

1

of $0.40

in 2Q15 and $0.36 in 3Q14

Solid operating leverage of 3% YoY, 1% sequential quarter

NIM improvement to 2.76% in 3Q15 from 2.72% in 2Q15

Strong capital,

liquidity, and

funding

Excellent credit

quality and

progress on risk

management

Continued progress

on strategic growth

and efficiency

initiatives

Robust capital levels with a Common Equity Tier 1 Ratio of 11.8%

Tangible book value per share growth of 2% in 3Q15

Average deposits increased $9.3 billion, or 10% vs 3Q14; loan-to-deposit ratio of 96%

In early August executed $250 million subordinated-debt offering and share repurchase –

in connection

with July sell-down, RBS ownership ~20.9%

Continued strong credit quality with nonperforming loans down 2% from 2Q15 and 4% from 3Q14

Net charge-off ratio of 0.31% compared with 0.33% in 2Q15 and 0.38% in 3Q14

Allowance for loan and lease losses of 1.23% of total loans and leases stable with 2Q15

Allowance coverage of NPLs 116% vs. 114% in 2Q15 and 111% in 3Q14

Generated 8% YoY average loan growth, with strength in commercial, auto, student and mortgage

—

YoY average loan growth of $7.1 billion, with $4.0 billion in commercial, $2.4 billion in auto, and a net

$786 million across other portfolios

Consumer initiatives –

2% HH growth YoY, continued progress in student and organic auto originations,

business bankers up 39 YoY

Commercial initiatives –

Strong loan growth across major businesses with CRE loans up 17% YoY;

Treasury Solutions fees up 7% YoY.

Continued focus on expense discipline -

Noninterest expense up 1% from Adjusted 3Q14

1

despite

continued investments in technology, growth initiatives and regulatory programs

—

On track to deliver targeted $200 million end of 2016 savings goal

Making progress on new initiatives designed to enhance performance

Financial summary –

GAAP

3

1)

Non-GAAP item. See important information on use of Non-GAAP items in the Appendix.

2)

Includes held for sale.

3)

Return on average tangible common equity.

4)

Return on average total tangible assets.

5)

Full-time equivalent employees.

Highlights

Linked quarter:

GAAP net income up $30 million driven by a $25

million after-tax decrease in restructuring charges

and special items

—

3Q15 reflects $7 million preferred dividend,

payable semi-annually

NII up $16 million, reflecting 1% average loan

growth and an additional day

Noninterest income down $7 million largely

reflecting a reduction in mortgage banking and

capital markets fees from relatively strong 2Q15

levels

Noninterest expense down $43 million, driven by a

$40 million decrease in restructuring charges and

special items

Provision expense stable with prior quarter

Prior year quarter:

Net income increased $31 million driven by a $13

million after-tax decrease in restructuring charges

and special items

NII up $36 million, as average loans grew 8%

—

5% average earning asset growth

Noninterest income up $12 million, led by an

increase in other income and broad growth across

most other categories

Noninterest expense down 1%

Provision for credit losses of $76 million was stable

with prior year levels

3Q15 change from

$s in millions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Net interest income

856

$   

840

$   

820

$   

16

$      

2

%

36

$      

4

%

Noninterest income

353

360

341

(7)

(2)

12

4

Total revenue

1,209

1,200

1,161

9

1

48

4

Noninterest expense

798

841

810

(43)

(5)

(12)

(1)

Pre-provision profit

411

359

351

52

14

60

17

Provision for credit losses

76

77

77

(1)

(1)

(1)

(1)

Income before income tax expense

335

282

274

53

19

61

22

Income tax expense

115

92

85

23

25

30

35

Net income

220

$   

190

$   

189

$   

30

$      

16

%

31

$      

16

%

Preferred dividends

7

$        

—

$      

—

$      

7

$        

NM 

7

$        

NM 

Net income available to common

stockholders

213

$   

190

$   

189

$   

23

$      

12

%

24

$      

13

%

$s in billions

Average interest earning assets

123.0

$

123.2

$

117.2

$

(0.2)

$   

—

%

5.8

$    

5

%

Average deposits

2

101.0

$

98.5

$  

91.7

$  

2.5

$    

2

%

9.3

$    

10

%

Key metrics

Net interest margin

2.76

%

2.72

%

2.77

%

4

bps

(1)

bps

Loan-to-deposit ratio (period-end)

2

96.1

%

96.6

%

97.3

%

(58)

bps

(126)

bps

ROTCE

1,3

6.6

%

5.9

%

5.8

%

70

bps

79

bps

ROTA

1,4

0.7

%

0.6

%

0.6

%

9

bps

7

bps

Efficiency ratio

1

66

%

70

%

70

%

(400)

bps

(382)

bps

FTEs

5

17,817

17,903

17,852

(86)

—

%

(35)

—

%

Per common share

Diluted earnings

0.40

$  

0.35

$  

0.34

$  

0.05

$  

14

%

0.06

$  

18

%

Tangible book value

1

24.52

$

24.03

$

23.04

$

0.49

$  

2

%

1.48

$  

6

%

Average diluted shares outstanding

(in millions)

533.4

539.9

560.2

(6.5)

(1)

%

(26.8)

(5)

%

Restructuring charges and special items

4

GAAP

results

included

restructuring

charges

and

special

items

related

to

enhancing

efficiencies

and

improving

processes

across

the

organization

and

separation

from

The

Royal

Bank

of

Scotland

Group

plc

(“RBS”).

1)

These are non-GAAP financial measures. Please see Non-GAAP Reconciliation Tables in the Appendix for an explanation of our use of non-GAAP financial measures and their reconciliation to GAAP.

Restructuring charges and special items

1

3Q15 change from

($s in millions, except per share data)

3Q15

2Q15

3Q14

2Q15

3Q14

Pre-tax total noninterest expense

restructuring charges and special items

—

40

21

(40)

(21)

After-tax total noninterest expense

restructuring charges and special items

—

25

13

(25)

(13)

Pre-tax restructuring charges and

special items

—

(40)

(21)

40

21

After-tax restructuring charges and

special items

—

(25)

(13)

25

13

Diluted EPS impact

—

$          

(0.05)

$     

(0.02)

$     

0.05

$       

0.02

$       

Adjusted financial summary -

excluding restructuring charges and special items

1

5

1)

Non-GAAP item. Adjusted results exclude the effect of net restructuring charges and special items associated with Chicago Divestiture,

efficiency and effectiveness programs and separation from RBS. See important information on use of Non-GAAP items in the Appendix.

2)

Includes held for sale.

3)

Adjusted return on average tangible common equity.

4)

Adjusted return on average total tangible assets.

5)

Full-time equivalent employees.

Highlights

3Q15 vs. adjusted 2Q15:

Net income increased $5 million from Adjusted 2Q15

as the benefit of revenue growth and lower expense

was partially offset by an increase in the effective tax

rate

Total revenue up $9 million

—

NII up $16 million as 1% average loan growth, an

additional day in the quarter, and improving

investment portfolio and loan yields were muted

by modestly higher deposit costs

—

Noninterest income down $7 million with other

income and service charge and fee growth more

than offset by a reduction in mortgage banking

and capital markets fees from relatively robust

2Q levels

—

Adjusted noninterest expense down slightly

reflecting continued cost discipline

Efficiency ratio improved 68 basis points

Provision expense stable with prior quarter

Tangible book value per share of $24.52 up 2%

3Q15 vs. adjusted 3Q14:

Net income up 9% from Adjusted 3Q14 reflecting

impact of positive operating leverage

Total revenue up $48 million

—

NII up 4% with 5% average earning asset growth

muted by lower yields

—

Noninterest income up 4%

Noninterest expense up 1%

—

Efficiency ratio improved by ~200 bps

Adjusted diluted EPS up 11%

3Q15 change from

$s in millions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Net interest income

856

$   

840

$   

820

$   

16

$      

2

%

36

$      

4

%

Noninterest income

353

360

341

(7)

(2)

12

4

Total revenue

1,209

1,200

1,161

9

1

48

4

Adjusted noninterest expense

1

798

801

789

(3)

—

9

1

Adjusted pre-provision profit

1

411

399

372

12

3

39

10

Provision for credit losses

76

77

77

(1)

(1)

(1)

(1)

Adjusted pretax income

1

335

322

295

13

4

40

14

Adjusted income tax expense

1

115

107

93

8

7

22

24

Adjusted net income

220

$   

215

$   

202

$   

5

$        

2

%

18

$      

9

%

Preferred dividends

7

$        

—

$      

—

$      

7

$        

NM 

7

$        

NM 

Adjusted net income available to

common stockholders

1

213

$   

215

$   

202

$   

(2)

$      

(1)

%

11

$      

5

%

$s in billions

Average interest earning assets

123.0

$

123.2

$

117.2

$

(0.2)

$   

—

%

5.8

$    

5

%

Average deposits

2

101.0

$

98.5

$  

91.7

$  

2.5

$    

2

%

9.3

$    

10

%

Key metrics

Net interest margin

2.76

%

2.72

%

2.77

%

4

bps

(1)

bps

Loan-to-deposit ratio (period-end)

2

96.1

%

96.6

%

97.3

%

(58)

bps

(126)

bps

Adjusted ROTCE

1,3

6.6

%

6.7

%

6.2

%

(7)

bps

38

bps

Adjusted ROTA

1,4

0.7

%

0.7

%

0.7

%

1

bps

2

bps

Adjusted efficiency ratio

1

66

%

67

%

68

%

(68)

bps

(200)

bps

FTEs

5

17,817

17,903

17,852

(86)

—

%

(35)

—

%

Per common share

Adjusted diluted EPS

1

0.40

$  

0.40

$  

0.36

$  

—

$      

—

%

0.04

$  

11

%

Tangible book value

1

24.52

$

24.03

$

23.04

$

0.49

$  

2

%

1.48

$  

6

%

Average diluted shares outstanding

(in millions)

533.4

539.9

560.2

(6.5)

(1)

%

(26.8)

(5)

%

$117B

$119B

$121B

$123B

$123B

$820

$840

$836

$840

$856

3Q14

4Q14

1Q15

2Q15

3Q15

2.77%

2.80%

2.77%

2.72%

2.76%

Net interest income

6

Highlights

Net interest income

$s in millions,

except earning

assets

Average interest-earning assets

Average interest

earning assets

Net interest income

Net interest margin

1)

Includes Interest-bearing cash and due from banks and deposits in banks.

Linked quarter:

NII up $16 million, or 2%

—

Reflects $1.2 billion increase in average loans and

leases and an additional day in the quarter

NIM improved 4 bps to 2.76%

—

Benefitting from initiatives to improve loan yields and

mix and to improve balance sheet efficiency

Prior year quarter:

NII up $36 million, or 4%

—

8% average loan growth, and reduction in pay-fixed

swap costs, partially offset by continued pressure from

the persistent low-rate environment and higher

deposit costs

NIM relatively stable despite continuing impact of the low-

rate environment

$s in billions

3Q14

4Q14

1Q15

2Q15

3Q15

Retail loans

$48.5

$49.8

$50.4

$50.9

$51.6

Commercial loans

41.2

42.3

43.5

44.7

45.2

Investments and cash

1

27.3

26.5

27.1

27.1

25.8

Loans held for sale

0.2

0.2

0.3

0.5

0.5

Total interest-earning assets

$117.2

$118.7

$121.3

$123.2

$123.0

Loan Yields

3.33%

3.34%

3.34%

3.30%

3.32%

Cost of funds

0.45%

0.49%

0.50%

0.52%

0.54%

2.72%

2.76%

0.03%

0.01%

0.01%

(0.01%)

2Q15 NIM%

Reduction in

cash/securities

Investment

portfolio yields

Loan

yields

Deposit

costs

3Q15 NIM%

2.77%

2.76%

0.05%

0.04%

(0.01%)

(0.06%)

(0.03%)

3Q14 NIM%

Reduction in

cash/securities

Investment

portfolio yields/

pay-fixed swap

run off

Loan

yields

Deposit

costs

Borrowing

costs

3Q15 NIM%

Net interest margin

NIM walk 3Q14 to 3Q15

NIM walk 2Q15 to 3Q15

7

$353

$360

$341

3Q15

2Q15

3Q14

Service charges and fees

Card fees

Trust and inv services

FX & trade finance fees

Mortgage banking fees

Capital markets fee income

Securities gains (losses)

Other income

Noninterest income

Linked quarter:

Noninterest income down $7 million as

growth in other income and service

charges and fees was more than offset by

reductions in mortgage banking and

capital markets fees from relatively

robust 2Q levels as well as lower

securities gains

—

Mortgage banking fees down $12

million driven by an $8 million

decrease in MSR valuation as well as

lower origination volume and sale

gains

—

Other income up $15 million

given

an

$8 million branch real estate gain

—

Securities gains decreased $7 million

Prior year quarter:

Noninterest income up $12 million, or 4%

—

Growth in other income, card fees,

trust & investment services fees and 

service charges and fees

—

More muted results in mortgage

banking, capital markets and FX &

trade finance fees

8

Highlights

1)

Other income includes bank owned life insurance and other income.

$s in millions

1

3Q15 change from

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Service charges and fees

145

$    

139

$    

144

$    

6

$        

4

%

1

$        

1

%

Card fees

60

60

58

—

—

2

3

Trust & investment services fees

41

41

39

—

—

2

5

Mortgage banking fees

18

30

21

(12)

(40)

(3)

(14)

Capital markets fees

21

30

22

(9)

(30)

(1)

(5)

FX & trade finance fees

22

22

26

—

—

(4)

(15)

Securities gains, net

2

9

2

(7)

(78)

—

—

Other income

1

44

29

29

15

52

15

52

Noninterest income

353

$    

360

$    

341

$    

(7)

$       

(2)

%

12

$      

4

%

$798

$801

$789

66%

67%

68%

3Q15

2Q15

3Q14

Adjusted salary and benefits

Adjusted occupancy & equip

Adjusted all other

Adjusted efficiency ratio

Adjusted noninterest expense –

excluding restructuring charges and special items

1

3Q15 vs. Adjusted 2Q15:

Noninterest expense down slightly relative

to Adjusted 2Q15 levels, reflecting

continued strong cost discipline

—

Reduction in equipment expense, other

expense, and amortization of software

was partially offset by an increase in

outside services from unusually low

second quarter levels

—

FTEs down 86 reflecting continuing

focus on efficiency

3Q15 vs. Adjusted 3Q14:

Noninterest expense increased

$9 million from Adjusted 3Q14 levels

—

Lower salaries and benefits and

amortization of software was more than

offset by an increase in other expense,

equipment expense and outside services

—

FTEs relatively stable as efficiency

initiatives more than offset net

investments to drive growth and

enhance operational effectiveness,

including increased regulatory-driven

staffing requirements

9

Highlights

1)

Non-GAAP item. Adjusted results exclude the effect of net restructuring charges and special items associated with Chicago Divestiture, efficiency and

effectiveness programs and separation from RBS. See important information on use of Non-GAAP items in the Appendix.

.

1

1

Full-time equivalents (FTEs)

17,817

17,903

17,852

1

3Q15 change from

$s in millions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Adjusted salaries and benefits

1

404

$    

405

$    

409

$       

(1)

$       

—

%

(5)

$        

(1)

%

Adjusted occupancy

1

75

75

75

—

—

—

—

Adjusted equipment expense

1

62

65

58

(3)

(5)

4

7

Adjusted outside services

1

89

83

87

6

7

2

2

Adjusted amortization of software

1

35

37

38

(2)

(5)

(3)

(8)

Adjusted other expense

1

133

136

122

(3)

(2)

11

9

Adjusted noninterest expense

1

798

$    

801

$    

789

$       

(3)

$       

—

%

9

$         

1

%

Restructuring charges and special items

—

40

21

(40)

(100)

(21)

(100)

Total noninterest expense

798

$    

841

$    

810

$       

(43)

$    

(5)

%

(12)

$     

(1)

%

7%

30%

10%

16%

11%

5%

21%

51%

39%

10%

Consolidated average balance sheet

Linked quarter:

Total earning assets stable with prior quarter

—

Commercial loans up $478 million driven by

strength in Commercial Real Estate,

Franchise Finance and Corporate Finance

—

Retail loans up $707 million driven by

growth in auto, mortgage, and student

Total deposits increased 2%

—

Growth focused on commercial

relationships and consumer money market

Prior year quarter:

Total earning assets up 5%

—

Retail loans up 7% driven by growth in auto,

mortgage and student

—

Commercial loans up 10% driven by growth

in Commercial Real Estate, Industry

Verticals, Corporate Finance, Franchise

Finance, and Mid-Corporate

Total deposits up $9.3 billion, or 10%, reflecting

strength in money-market, term deposits and

checking with interest

Borrowed funds down $3.0 billion as reductions

in FHLB advances and repos were partially

offset by sub-debt issuances tied to our capital

exchange transactions, as well as senior debt

borrowings to enhance LCR

10

Highlights

$123.0 billion

Interest-earning assets

$113.0 billion

Deposits/borrowed funds

Total

Retail

42%

Total

Commercial

37%

Note: Loan portfolio trends reflect non-core portfolio impact not included in segment results on pages 11 & 12.

1)

Low-cost core deposits include demand, checking with interest, and regular savings.

CRE

Other

Commercial

Residential

mortgage

Total home

equity

Automobile

Other

Retail

Investments

and

interest-bearing

deposits

Retail /

Personal

Commercial/

Municipal/

Wholesale

Borrowed

funds

3Q15 change from

$s in billions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Investments and interest bearing

deposits

25.8

$  

27.1

$  

27.3

$  

(1.4)

$   

(5)

%

(1.6)

$   

(6)

%

Total commercial loans

45.2

44.7

41.2

0.5

1

4.0

10

Total retail loans

51.6

50.9

48.5

0.7

1

3.2

7

Total loans and leases

96.8

95.6

89.7

1.2

1

7.1

8

Loans held for sale

0.5

0.5

0.2

—

—

0.3

NM

Total interest-earning assets

123.0

123.2

117.2

(0.2)

—

5.8

5

Total noninterest-earning assets

12.1

12.3

11.5

(0.2)

(2)

0.6

5

Total assets

135.1

$

135.5

$

128.7

$

(0.4)

$   

—

6.4

$     

5

Low-cost core deposits

1

51.7

51.1

48.7

0.7

1

3.0

6

Money market deposits

36.5

34.9

32.4

1.6

5

4.2

13

Term deposits

12.7

12.6

10.6

0.2

1

2.1

20

Total deposits

101.0

$

98.5

$  

91.7

$  

2.5

$     

2

9.3

$     

10

Total borrowed funds

12.0

14.8

15.0

(2.8)

(19)

(3.0)

(20)

Total liabilities

115.6

$

115.9

$

109.3

$

(0.3)

$   

—

6.3

$     

6

Total stockholders' equity

19.5

19.6

19.4

(0.1)

(1)

0.1

—

Total liabilities and equity

135.1

$

135.5

$

128.7

$

(0.4)

$   

—

%

6.4

$     

5

%

Yields

3.67%

3.68%

3.72%

3.68%

3.69%

$9.9

$10.6

$10.9

$11.1

$11.6

$19.1

$18.8

$18.4

$18.0

$17.6

$11.4

$12.4

$12.9

$13.5

$13.8

$1.6

$1.8

$2.3

$2.7

$3.2

$3.0

$3.0

$3.1

$3.1

$3.0

$2.7

$2.6

$2.5

$2.3

$2.4

$47.7B

$49.2B

$50.1B

$50.7B

$51.6B

3Q14

4Q14

1Q15

2Q15

3Q15

Mortgage

Home Equity

Auto

Student

Business Banking

Other

Consumer Banking average loans and leases

11

1)

Other includes Credit Card, RV, Marine, Other.

Average loans and leases

$s in billions

1

Linked quarter:

Average loans increased $863 million, or 2%

Consumer loan yields up 1 basis point reflecting

continued improvement in mix

Prior year quarter:

Average loans up $3.9 billion largely as growth of

$2.4 billion in auto, $1.7 billion in mortgages and

$1.6 billion in student was partially offset by $1.5

billion lower home equity outstandings

Loan yields up modestly despite the continued

pressure from the low-rate environment

Recent developments:

Mortgage originations of $1.6 billion in 3Q15,

up $38 million QoQ

and $543 million YoY

Originated ~$60 million of new installment credit

loans

Highlights

Yields

2.61%

2.62%

2.57%

2.56%

2.57%

$5.9

$6.0

$6.2

$6.4

$6.2

$2.1

$2.5

$2.9

$3.0

$3.0

$2.7

$2.8

$2.9

$3.1

$3.2

$11.8

$11.7

$12.0

$12.2

$12.0

$6.1

$6.3

$6.1

$6.1

$6.1

$7.0

$7.2

$7.4

$7.7

$8.2

$2.2

$2.4

$2.6

$2.8

$3.1

$37.8B

$38.9B

$40.1B

$41.3B

$41.8B

3Q14

4Q14

1Q15

2Q15

3Q15

Mid-Corporate

Industry Verticals

Franchise Finance

Middle Market

Asset Finance

Commercial Real Estate

Other

Commercial Banking average loans and leases

Linked quarter:

Average loans up $524 million, or 1%, with solid

growth in CRE and Franchise Finance

Loan yields remained relatively stable despite the

continued effect of the low-rate environment

Prior year quarter:

Average loans up $4.1 billion on strength in

Commercial Real Estate, Industry Verticals, Mid-

Corporate, Franchise Finance and Corporate Finance

Loan yields down 4 bps largely reflecting the

pronounced effect of the continued low-rate

environment in 2015

12

1)

Other

includes

Business

Capital,

Govt

&

Professional

Banking,

Corporate

Finance

&

Global

Markets,

Treasury

Solutions,

Corporate

and

Commercial

Banking

Admin.

$s in billions

1

Highlights

Average loans and leases

$40.1

$40.9

$41.7

$43.0

$44.6

$25.8

$26.3

$25.8

$26.4

$26.8

$15.2

$15.7

$16.0

$16.6

$16.9

$10.6

$11.9

$12.2

$12.6

$12.7

$6.3

$5.1

$4.6

$4.4

$2.9

$6.7

$6.1

$7.0

$6.5

$5.1

$2.0

$2.8

$3.9

$3.9

$4.1

$106.7B

$108.8B

$111.2B

$113.3B

$113.0B

3Q14

4Q14

1Q15

2Q15

3Q15

Money market & savings

DDA

Checking with interest

Term & time deposits

Total fed funds & repo

Short-term borrowed funds

Total long-term borrowings

Average funding and cost of funds

Linked quarter:

Average interest-bearing deposits increased

$2.1 billion, or 3%, with particular strength in

money market

—

Total deposit costs of 0.25% increased 1 bp, as

the pace of growth slowed reflecting

enhanced pricing strategies

DDA up $335 million, interest checking up $373

million, money market & savings up $1.6 billion,

and term deposits up $154 million

Continued progress in repositioning liabilities

structure to better align with peers

Prior year quarter:

Average interest-bearing deposits increased $8.4

billion, or 13%, on strength across all categories

—

Total deposit cost of funds increased 7 bps

13

Highlights

Average interest-bearing liabilities and DDA

$s in billions

Deposit cost of funds

0.18%

0.20%

0.22%

0.24%

0.25%

Total cost of funds

0.45%

0.49%

0.50%

0.52%

0.54%

Summary of progress on strategic initiatives

14

Initiative

3Q15

Status

Commentary

Reenergize household growth

3Q15 household growth of 2% and deposits up 7% from 3Q14.  New customer cross-sell rate

increased to 3.26 vs. 3.05 in 3Q14.

Expand mortgage sales force

LOs up 81, or 22%, and origination volume up 53% from 3Q14.

Continued competitive pressure around attracting and retaining LOs with strong conforming

orientation.

Grow Auto

3Q15 organic origination yields of 3.51%, up 41 bps from 3Q14.

Grow Student

Continued strong new refi

product originations of $262 million in 3Q15.

Expand Business Banking

Relationship managers up 13 from 2Q15 and 39 since 3Q14. Pricing improvements gaining

traction with portfolio yields up 6 bps vs. 3Q14.

Expand Wealth sales force

Added 42 wealth managers and 151 licensed bankers over the past year; wealth managers

relatively flat with 2Q15. 

Build out Mid-Corp & verticals

Mid-Corp and specialty vertical average loans up from 3Q14 by 6% and 42%, respectively.

Continue development of

Capital Markets

Fee income declined 5% from 3Q14 given weaker market conditions while market share

improved in traditional middle market & sponsor-led deals.

Build out Treasury Solutions

Fees up 7%

in the quarter compared to 3Q14 with strong contributions from cash

management and commercial card.

Grow Franchise Finance

Strong

portfolio growth with average balances up 21% from 3Q14.

Core: Middle Market

Average

loans up 2% YoY, with origination yields in 3Q15 expanding 33bps compared to 3Q14,

reflecting improved pricing discipline.

Core: CRE

CRE average loans up 17% to $8.2 billion from 3Q14.

Core: Asset Finance

Portfolio

balances flat compared to 3Q14.  New business initiatives targeting areas with

attractive risk/return metrics underway to mitigate reduced RBS referrals.

Top I

On-track to largely complete $200 million in cost savings ideas by YE15.

Top II

Starting

to

see

benefits

from

pricing

and

operations

transformation

initiatives.

Revenue

enhancement

initiatives

building

momentum,

but

are

earlier

in

evolution.

Balance Sheet Optimization

Initiatives

in flight to focus balance sheet on most productive assets and lower deposit costs.

Recent efforts have begun to arrest NIM decline.

Overall credit quality remains strong. NPLs declined by $16 million or

2% QoQ

and 4% YoY

Net charge-offs were $75 million, or 0.31% of average loans and leases

compared with 0.33% in 2Q15 and 0.38% in 3Q14

Provision for credit losses of $76 million in third quarter 2015 remained stable

with second quarter 2015

Allowance as a % of total loans and leases was stable, 1.23% vs. 1.24% in 2Q15

NPLs to total loans improved to 1.06% vs. 1.09% in 2Q15

—

Allowance coverage for NPLs increased to 116% vs. 114% in 2Q15

$4

$2

($22)

$7

$5

$75

$72

$69

$68

$66

$9

$6

$7

$3

$4

$88

$80

$54

$78

$75

0.38%

0.35%

0.23%

0.33%

0.31%

3Q14

4Q14

1Q15

2Q15

3Q15

Commercial

Retail

SBO

Net c/o ratio

$88

$80

$54

$78

$75

$77

$72

$58

$77

$76

$1.1B

$1.1B

$1.1B

$1.1B

$1.0B

3Q14

4Q14

1Q15

2Q15

3Q15

Net charge-offs

Provision

NPLs

$1,201

$1,195

$1,202

$1,201

$1,201

111%

109%

106%

114%

116%

3Q14

4Q14

1Q15

2Q15

3Q15

Allowance for loan and lease losses

Coverage Ratio

Strong credit quality trends continue

15

Highlights

Net charge-offs (recoveries)

Provision for credit losses, charge-offs, NPLs

Allowance for loan and lease losses

$s in millions

1

for credit

losses

1)

Allowance for loan and lease losses to nonperforming loans and leases.

16.1%

15.8%

15.5%

15.3%

15.4%

12.9%

12.4%

12.2%

11.8%

11.8%

3Q14

4Q14

1Q15

2Q15

3Q15

Total capital ratio

Common equity tier 1 ratio

97%

98%

96%

97%

96%

3Q14

4Q14

1Q15

2Q15

3Q15

as of

$s in billions (period-end)

3Q14

4Q14

1Q15

2Q15

3Q15

Basel I/III transitional basis

1,2

Basel I

Basel III

Common equity tier 1 capital

13.3

$     

13.2

$     

13.4

$     

13.3

$     

13.2

$     

Risk-weighted assets

103.2

$   

106.0

$   

109.8

$   

112.1

$   

112.3

$   

Common equity tier 1 ratio

12.9 %

12.4 %

12.2 %

11.8 %

11.8 %

Total capital ratio

16.1 %

15.8 %

15.5 %

15.3 %

15.4 %

Basel III fully phased-in

1,3

Common equity tier 1 ratio

12.5%

12.1%

12.1%

11.8%

11.7%

Basel III minimum for CET1 ratio

2015

2016

2017

2018

2019

Basel III minimum plus phased-in

capital conservation buffer

4.5 %

5.1 %

5.8 %

6.4 %

7.0 %

Capital and liquidity remain strong

16

Highlights

1)

Current reporting period regulatory capital ratios are preliminary.

2)

Periods prior to 1Q15 reported on a Basel I basis. Basel III ratios assume that certain definitions impacting qualifying Basel III capital will phase in through 2018. Ratios also reflect the required US

Standardized methodology for calculating RWAs, effective January 1, 2015.

3)

Prior

to

Basel

III

becoming

effective

January

1,

2015

this

was

a

Non-GAAP

financial

measure.

See

important

information

on

use

of

Non-GAAP

items

in

the

Appendix.

4)

Based on the September 2014 release of the U.S. version of the Liquidity Coverage Ratio (LCR). Note that as a modified LCR company, CFG’s formal compliance requirement of 90% does not begin

until January 2016.

5)

Period-end Includes held for sale.

Loan-to-deposit ratio

5

Capital ratio trend

1,2

1,2

Capital levels remain above regional peers

3Q15 Basel III common equity tier 1 ratio

(transitional basis) down approximately

7 basis points from 2Q15

—

Net income: ~20 bps increase

—

RWA growth: ~2 bps decrease

—

Share repurchase: ~22 bps decrease

—

Dividends & other: ~3 bps decrease

LDR remained relatively stable at 96%

Already meet initial LCR requirement

4

4Q15 outlook

17

4Q15 expectations vs. 3Q15

Net interest

income, net

interest margin

Operating leverage,

efficiency ratio

Credit trends

and costs

Average loan growth rate of ~1.5%

Net interest margin broadly stable

Positive operating leverage expected to continue; anticipate fee income growth

Modest expense growth reflecting higher depreciation & software amortization, seasonality

Expect stable asset quality trends

Provision expense expected to increase given build associated with loan growth

Capital, liquidity

and funding

Quarter-end Basel III common equity Tier 1 ratio ~11.7%

Loan-to-deposit ratio 97-98%

Key messages

18

Continue to execute well on our broad agenda

—

Good clean quarter with positive operating leverage, rebound in NIM

—

Delivering for all stakeholders

—

Adding top talent to executive team

New initiatives tracking to expectations

Asset sensitivity continues to be stable

Asset quality, capital ratios, and liquidity position remain strong

Appendix

19

*******************************************

$372

$411

3Q14

3Q15

$90.7

$97.4

3Q14

3Q15

0.66%

0.68%

3Q14

3Q15

$202

$220

$0.36

$0.40

3Q14

3Q15

6.2%

6.6%

3Q14

3Q15

Quarter over quarter results

20

Adjusted pre-provision profit

1

$s in millions

Adjusted return on average

tangible assets

1

Adjusted net income

1

$s in millions

1)

Adjusted results are non-GAAP items and exclude the effect of net restructuring charges and special items associated with Chicago Divestiture, efficiency and effectiveness programs and

separation from RBS. See important information on use of Non-GAAP items in the Appendix.

2)

Excludes loans held for sale.

Adjusted return on average

tangible common equity

1

38 bps

2 bps

9%

10%

Period-end loans

2

$s in billions

Period-end deposits

$s in billions

7%

11%

Adjusted Diluted EPS

1

$101.9

9%

$93.5

3Q14

3Q15

$399

$411

2Q15

3Q15

11.8%

11.8%

2Q15

3Q15

0.67%

0.68%

2Q15

3Q15

$215

$220

$0.40

$0.40

2Q15

3Q15

10.4%

10.4%

2Q15

3Q15

6.7%

6.6%

2Q15

3Q15

Linked quarter results

21

Adjusted pre-provision profit

1

$s in millions

Adjusted return on average

tangible assets

1

Adjusted net income

1

$s in millions

Adjusted return on average

tangible common equity

1

Tier 1 leverage ratio

2

7 bps

1 bps

unchanged

2%

3%

1)

Adjusted results are non-GAAP items and exclude the effect of net restructuring charges and special items associated with Chicago Divestiture, efficiency and effectiveness programs and

separation from RBS. See important information on use of Non-GAAP items in the Appendix.

2)

Current reporting period regulatory capital ratios are preliminary.

unchanged

Adjusted Diluted EPS

1

Basel III common equity

tier 1 capital ratio

2

unchanged

Consumer Banking segment

22

1)

Non-GAAP item. Adjusted results exclude the effect of net restructuring charges and special items associated with Chicago Divestiture, efficiency and effectiveness programs and

separation from RBS. See important information on use of Non-GAAP items in the Appendix.

2)

Includes held for sale.

3)

Operating

segments

are

allocated

capital

on

a

risk-adjusted

basis

considering

economic

and

regulatory

capital

requirements.

We

approximate

that

regulatory

capital

is

equivalent

to

a

sustainable

target

level

for

Tier

1

common

equity

and

then

allocate

that

approximation

to

the

segments

based

on

economic

capital.

Highlights

Linked quarter:

Net income up $2 million, or 3%

Net interest income up $12 million, driven by loan

growth and one additional day in the quarter, partially

offset by higher deposit costs

—

Average loans up 2% and average deposits up 1%

Noninterest income up $5 million as growth in other

income, service charges and fees, and trust &

investment services fees was partially offset by lower

mortgage banking fees

—

Results include $8 million branch real estate sale

gain

—

Mortgage banking fees down $12 million driven by

an $8 million decrease in mortgage servicing rights

valuation; originations up 2%

Noninterest expense increased $10 million reflecting

increased outside services and salary and benefits

expense tied to growth initiatives

Prior year quarter:

Net income up $14 million, or 26%

Total revenue up $33 million on strong loan growth and

momentum in mortgage, household growth and wealth

—

Average loans up $4.0 billion and average deposits

up $4.9 million

Noninterest expense increased $14 million, as higher

advertising and our continued investment in the

business to drive further growth was partially offset by

our focus on improving efficiency

3Q15 change from

$s in millions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Net interest income

556

$    

544

$    

532

$    

12

$      

2

%

24

$      

5

%

Noninterest income

235

230

226

5

2

9

4

Total revenue

791

774

758

17

2

33

4

Noninterest expense

623

613

609

10

2

14

2

Pre-provision profit

168

161

149

7

4

19

13

Provision for credit losses

64

60

66

4

7

(2)

(3)

Income before income tax

expense

104

101

83

3

3

21

25

Income tax expense

36

35

29

1

3

7

24

Net income

68

$      

66

$      

54

$      

2

$        

3

%

14

$      

26

%

Average balances

$s in billions

Total loans and leases

51.9

$  

51.0

$  

47.8

$  

0.9

$     

2

%

4.0

$     

8

%

Total deposits

70.5

$  

70.0

$  

65.6

$  

0.6

$     

1

%

4.9

$     

7

%

Mortgage Banking metrics

Originations

1,561

$

1,523

$

1,018

$

38

$      

2

%

543

$    

53

%

Origination Pipeline

2,152

1,897

973

255

13

%

1,179

121

%

Gain on sale of secondary

originations

1.80%

2.18%

1.69%

(38)

bps

11

bps

Performance metrics

ROTCE

1,3

5.7%

5.7%

4.6%

1

bps

110

bps

Efficiency ratio

1

79%

79%

80%

(53)

bps

(170)

bps

Commercial Banking segment

23

1)

Non-GAAP item. See important information on use of Non-GAAP items in the Appendix.

2)

Includes held for sale.

3)

Operating segments are allocated capital on a risk-adjusted basis considering economic and regulatory capital requirements. We approximate that

regulatory capital is equivalent to a sustainable target level for Tier 1 common equity and then allocate that approximation to the segments based on

economic capital.

Linked quarter:

Commercial Banking net income increased $10 million

Total revenue up $5 million, net interest income up $13

million on an average 1% increase in loans and 8% increase

in deposits

—

Strength in Commercial Real Estate, Franchise Finance,

Corporate Finance

—

Average deposits up $1.9 billion, or 8%

Noninterest income decreased $8 million due to a decrease

in capital markets fees from strong second quarter levels

Noninterest expense decreased $6 million, or 3%, largely

reflecting lower regulatory costs and equipment expense,

partially offset by increased outside services and insurance

costs

Prior year quarter:

Net income increased $6 million, as 4% revenue growth

was partially offset by increased noninterest expense and

a $3 million increase in provision for credit losses.

Net interest income up $29 million on an average           

$4.2 billion increase in loans and $3.6 billion increase in

deposits

Noninterest income down $4 million as strength in service

charges and other fees, card fees, and interest rate

products was offset by a reduction in foreign exchange and

trade finance fees, capital market fees and leasing income

Noninterest expense up $13 million driven by increased

regulatory costs, salaries and benefits tied to growth

initiatives and outside services expense

Highlights

3Q15 change from

$s in millions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Net interest income

299

$    

286

$    

270

$    

13

$      

5

%

29

$      

11

%

Noninterest income

100

108

104

(8)

(7)

(4)

(4)

Total revenue

399

394

374

5

1

25

7

Noninterest expense

175

181

162

(6)

(3)

13

8

Pre-provision profit

224

213

212

11

5

12

6

Provision for credit losses

3

7

—

(4)

(57)

3

—

Income before income tax

expense

221

206

212

15

7

9

4

Income tax expense

76

71

73

5

7

3

4

Net income

145

$    

135

$    

139

$    

10

$      

7

%

6

$        

4

%

Average balances

$s in billions

Total loans and leases

2

42.0

$  

41.5

$  

37.8

$  

0.5

$     

1

%

4.2

$     

11

%

Total deposits

24.6

$  

22.7

$  

21.0

$  

1.9

$     

8

%

3.6

$     

17

%

Performance metrics

ROTCE

1,3

12.2%

11.7%

13.1%

55

bps

(86)

bps

Efficiency ratio

1

44%

46%

43%

(232)

bps

40

bps

3Q15 change from

$s in millions

3Q15

2Q15

3Q14

2Q15

3Q14

$

%

$

%

Net interest income

1

$         

10

$       

18

$       

(9)

$        

(90)

%

(17)

$     

(94)

%

Noninterest income

18

22

11

(4)

(18)

7

64

Total revenue

19

32

29

(13)

(41)

(10)

(34)

Noninterest expense

—

47

39

(47)

(100)

(39)

(100)

Pre-provision profit (loss)

19

(15)

(10)

34

227

29

290

Provision for credit losses

9

10

11

(1)

(10)

(2)

(18)

Income (loss) before income

tax expense (benefit)

10

(25)

(21)

35

140

31

148

Income tax expense (benefit)

3

(14)

(17)

17

121

20

118

Net income (loss)

7

$         

(11)

$     

(4)

$        

18

$       

164

%

11

$       

275

%

Average balances

$s in billions

Total loans and leases

3.4

$      

3.6

$      

4.2

$      

(0.2)

$    

(6)

%

(0.9)

$    

(20)

%

Total deposits

5.9

$      

5.9

$      

5.1

$      

—

$       

—

%

0.8

$      

15

%

Other

24

1)

Includes held for sale.

Linked quarter:

Other recorded net income up $18 million, as lower total

revenue was more than offset by a $40 million decrease in

restructuring charges and special items

Net interest income decreased $9 million, driven by lower

non-core balances

Noninterest income decreased $4 million, reflecting lower

securities gains

Noninterest expense down $47 million, driven by a

decrease in restructuring charges and special items

Provision for credit losses decreased $1 million

—

Reflects a $1 million reserve build versus a $1 million

release in the prior quarter

Prior year quarter:

Net income up $11 million, as lower total revenue was

more than offset by lower expenses and restructuring

charges and special items

Net interest income decreased $17 million, as lower swap

costs were offset by an increase in wholesale funding costs

and lower non-core loans

Noninterest income up $7 million, reflecting the effect of

and accounting change related to the low-income housing

portfolio, offset by income tax expense

Noninterest expense down $39 million given lower

restructuring charges and special items, and lower

incentives

Provision for credit losses decreased $2 million

—

Reflects a $12 million decrease in non-core charge-offs

Highlights

Restructuring charges and special items

25

GAAP

results

included

restructuring

charges

and

special

items

related

to

enhancing

efficiencies

and

improving

processes

across

the

organization

and

separation

from

the

Royal

Bank

of

Scotland

Group

plc

(“RBS”).

1)

These are non-GAAP financial measures. Please see Non-GAAP Reconciliation Tables in the Appendix for an explanation of our use of non-GAAP financial measures and their reconciliation to GAAP.

as of and for the three months ended

Restructuring charges and special items

1

($s in millions, except per share data)

pre-tax

after-tax

pre-tax

after-tax

pre-tax

after-tax

Noninterest expense restructuring charges

and special items:

Salaries and employee benefits

—

—

6

4

(6)

(4)

Outside services

—

—

16

10

(16)

(10)

Occupancy 

—

—

15

9

(15)

(9)

Equipment expense

—

—

—

—

—

—

Other operating expense

—

—

3

2

(3)

(2)

Total noninterest expense restructuring

charges and special items

—

$         

—

$         

40

$         

25

$         

(40)

$        

(25)

$        

Net restructuring charges and special items

—

$         

—

$         

(40)

$        

(25)

$        

40

$         

25

$         

Diluted EPS impact

—

$         

(0.05)

$    

0.05

$      

September 30, 2015

June 30, 2015

increase/decrease

Loan Reconciliation

26

Average balances

$s in millions

1)

Primarily Treasury Solutions (Credit cards).

2)

Primarily Business Banking.

3Q15 change from

3Q15

2Q15

3Q14

Consumer Banking Segment

47,848

$      

49,351

$      

50,260

$      

51,024

$      

51,886

$      

862

$    

2

%

4,038

$ 

8

%

Add:

Non-core loans

2,932

2,801

2,667

2,517

2,358

(159)

(6)

(574)

(20)

Retail loans in Commercial Banking

(1)

134

145

143

161

160

(1)

(1)

26

19

Other

737

681

629

586

540

(46)

(8)

(197)

(27)

Less:

Commercial loans in Consumer Banking

(2)

3,022

3,017

3,056

3,096

3,045

(51)

(2)

23

1

LHFS

170

179

197

282

282

—

—

112

66

Total Retail loans

48,459

$      

49,782

$      

50,446

$      

50,910

$      

51,617

$      

707

$    

1

3,158

$ 

7

%

Commercial Banking Segment

37,787

$      

38,926

$      

40,241

$      

41,467

$      

41,993

$      

526

$    

1

%

4,206

$ 

11

%

Add:

Commercial loans in Consumer Banking

(2)

3,022

3,017

3,056

3,096

3,045

(51)

(2)

23

1

Non-core loans

353

309

266

230

202

(28)

(12)

(151)

(43)

CRA

171

182

198

212

241

29

14

70

41

Other

25

28

24

23

27

4

17

2

8

Less:

Retail loans in Commercial Banking

(1)

134

145

143

161

160

(1)

(1)

26

19

LHFS

33

54

136

171

174

3

2

141

427

Total Commercial loans

41,191

$      

42,263

$      

43,506

$      

44,696

$      

45,174

$      

478

$    

1

3,983

$ 

10

%

3Q14

4Q14

1Q15

2Q15

$3.2B

$3.0B

$2.9B

$2.7B

$2.5B

3Q14

4Q14

1Q15

2Q15

3Q15

Retail

Commercial

SBO

Non-core home equity portfolio serviced by others (SBO)

1

SBO balances by FICO

2

SBO balances by LTV

Top

5

SBO

balances

by

state

1

Non-core period-end loans

SBO balances by product

SBO Lien Position

1st

Lien

2nd

Lien

< 70

80-89

70-79

90-99

100-119

120+

< 620

620-679

680-719

720-759

760+

HE Loan

HELOC

27

$s in millions

1

A portion of the serviced by others portfolio is serviced by CFG.

2

FICO scores updated quarterly.

Non-GAAP Financial Measures

28

This

document

contains

non-GAAP

financial

measures.

The

table

below

presents

reconciliations

of

certain

non-GAAP

measures.

These

reconciliations

exclude

restructuring

charges

and/or

special

items,

which

are

usually

included,

where

applicable,

in

the

financial

results

presented

in

accordance

with

GAAP.

Restructuring

charges

and

special

items

include

expenses

related

to

our

efforts

to

improve

processes

and

enhance

efficiencies,

as

well

as

rebranding,

separation

from

RBS

and

regulatory

expenses.

The

non-GAAP

measures

set

forth

below

include

“total

revenue”,

“noninterest

income”,

“

noninterest

expense”,

“pre-provision

profit”,

“income

before

income

tax

expense

(benefit)”,

“income

tax

expense

(benefit)”,

“net

income”,

“net

income

available

to

common

stockholders”,

“salaries

and

employee

benefits”,

“outside

services”,

“occupancy”,

“equipment

expense”,

“amortization

of

software”,

“other

operating

expense”,

“net

income

per

average

common

share”,

“return

of

average

common

equity”

and

“return

on

average

total

assets”.

In

addition,

we

present

computations

for

"tangible

book

value

per

common

share",

“return

on

average

tangible

common

equity”,

“return

on

average

total

tangible

assets”

and

“efficiency

ratio”

as

part

of

our

non-GAAP

measures.

Additionally,

"pro

forma

Basel

III

fully

phased-in

common

equity

tier

1

capital"

computations

for

periods

prior

to

first

quarter

2015

are

presented

as

part

of

our

non-GAAP

measures.

We

believe

these

non-GAAP

measures

provide

useful

information

to

investors

because

these

are

among

the

measures

used

by

our

management

team

to

evaluate

our

operating

performance

and

make

day-to-day

operating

decisions.

In

addition,

we

believe

restructuring

charges

and

special

items

in

any

period

do

not

reflect

the

operational

performance

of

the

business

in

that

period

and,

accordingly,

it

is

useful

to

consider

these

line

items

with

and

without

restructuring

charges

and

special

items.

We

believe

this

presentation

also

increases

comparability

of

period-to-period

results.

We

also

consider

pro

forma

capital

ratios

defined

by

banking

regulators

but

not

effective

at

each

period

end

to

be

non-GAAP

financial

measures.

Since

analysts

and

banking

regulators

may

assess

our

capital

adequacy

using

these

pro

forma

ratios,

we

believe

they

are

useful

to

provide

investors

the

ability

to

assess

our

capital

adequacy

on

the

same

basis.

Other

companies

may

use

similarly

titled

non-GAAP

financial

measures

that

are

calculated

differently

from

the

way

we

calculate

such

measures.

Accordingly,

our

non-GAAP

financial

measures

may

not

be

comparable

to

similar

measures

used

by

other

companies.

We

caution

investors

not

to

place

undue

reliance

on

such

non-GAAP

measures,

but

instead

to

consider

them

with

the

most

directly

comparable

GAAP

measure.

Non-GAAP

financial

measures

have

limitations

as

analytical

tools,

and

should

not

be

considered

in

isolation,

or

as

a

substitute

for

our

results

as

reported

under

GAAP.

Non-GAAP Reconciliation Table

29

(Excluding restructuring charges and special items)

$s in millions, except per share data

3Q15

2Q15

1Q15

4Q14

3Q14

2015

2014

Noninterest income, excluding special items:

Noninterest income (GAAP)

A

$353

$360

$347

$339

$341

$1,060

$1,339

Less: Special items - Chicago gain

—

—

—

—

—

—

288

Noninterest income, excluding special items (non-GAAP)

B

$353

$360

$347

$339

$341

$1,060

$1,051

Total revenue, excluding special items:

Total revenue (GAAP)

C

$1,209

$1,200

$1,183

$1,179

$1,161

$3,592

$3,800

Less: Special items - Chicago gain

—

—

—

—

—

—

288

Total revenue, excluding special items (non-GAAP)

D

$1,209

$1,200

$1,183

$1,179

$1,161

$3,592

$3,512

Noninterest expense, excluding restructuring charges and special items:

Noninterest expense (GAAP)

E

$798

$841

$810

$824

$810

$2,449

$2,568

Less: Restructuring charges and special items

MM

—

40 

10 

33 

21 

50 

136

Noninterest expense, excluding restructuring charges and special items (non-GAAP)

F

$798

$801

$800

$791

$789

$2,399

$2,432

Net income, excluding restructuring charges and special items:

Net income (GAAP)

G

$220

$190

$209

$197

$189

$619

$668

Add: Restructuring charges and special items, net of income tax expense (benefit)

—

25 

6 

20 

13 

31 

(95)

Net income, excluding restructuring charges and special items (non-GAAP)

H

$220

$215

$215

$217

$202

$650

$573

Net income available to common stockholders (GAAP), excluding restructuring charges and special

items

Net income available to common stockholders (GAAP)

I

$213

$190

$209

$197

$189

$612

$668

Add: Restructuring charges and special items, net of income tax expense (benefit)

—

25 

6 

20 

13 

31 

(95)

Net income available to common stockholders, excluding restructuring charges and special items

(non-GAAP)

J

$213

$215

$215

$217

$202

$643

$573

Return on average common equity, excluding restructuring charges and special items:

Average common equity (GAAP)

K

$19,261

$19,391

$19,407

$19,209

$19,411

$19,352

$19,463

Return on average common equity, excluding restructuring charges and special items (non-GAAP)

J/K

4.40%

4.45 %

4.49 %

4.48 %

4.14 %

4.45 %

3.94 %

Return on average tangible common equity and return on average tangible common equity,

excluding restructuring charges and special items:

Average common equity (GAAP)

L

$19,261

$19,391

$19,407

$19,209

$19,411

$19,352

$19,463

Less: Average goodwill (GAAP)

6,876 

6,876 

6,876 

6,876 

6,876 

6,876 

6,876

Less: Average other intangibles (GAAP)

4 

5 

5 

6 

6 

5 

7

Add: Average deferred tax liabilities related to goodwill (GAAP)

453 

437 

422 

403 

384 

438 

368

Average tangible common equity (non-GAAP)

M

$12,834

$12,947

$12,948

$12,730

$12,913

$12,909

$12,948

Return on average tangible common equity (non-GAAP)

I/M

6.60 %

5.90 %

6.53 %

6.12 %

5.81 %

6.34 %

6.90 %

Return on average tangible common equity, excluding restructuring charges and special items

(non-GAAP)

J/M

6.60 %

6.67 %

6.73 %

6.76 %

6.22 %

6.67 %

5.92 %

Return on average total assets, excluding restructuring charges and special items:

Average total assets (GAAP)

N

$135,103

$135,521

$133,325

$130,671

$128,691

$134,655

$126,598

Return on average total assets, excluding restructuring charges and special items (non-GAAP)

H/N

0.65 %

0.64 %

0.65 %

0.66 %

0.62 %

0.65 %

0.61 %

Return on average total tangible assets and return on average total tangible assets, excluding

restructuring charges and special items:

Average total assets (GAAP)

N

$135,103

$135,521

$133,325

$130,671

$128,691

$134,655

$126,598

Less: Average goodwill (GAAP)

6,876 

6,876 

6,876 

6,876 

6,876 

6,876 

6,876

Less: Average other intangibles (GAAP)

4 

5 

5 

6 

6 

5 

7

Add: Average deferred tax liabilities related to goodwill (GAAP)

453 

437 

422 

403 

384 

438 

368

Average tangible assets (non-GAAP)

O

$128,676

$129,077

$126,866

$124,192

$122,193

$128,212

$120,083

Return on average total tangible assets (non-GAAP)

G/O

0.68 %

0.59 %

0.67 %

0.63 %

0.61 %

0.65 %

0.74 %

Return on average total tangible assets, excluding restructuring charges and special items (non-

GAAP)

H/O

0.68 %

0.67 %

0.69 %

0.69 %

0.66 %

0.68 %

0.64 %

FOR THE NINE MONTHS ENDED

SEPTEMBER 30

QUARTERLY TRENDS

Non-GAAP Reconciliation Table

30

(Excluding restructuring charges and special items)

$s in millions, except per share data

3Q15

2Q15

1Q15

4Q14

3Q14

2015

2014

Efficiency ratio and efficiency ratio, excluding restructuring charges and special items:

Net interest income (GAAP)

$856

$840

$836

$840

$820

$2,532

$2,461

Add: Noninterest income (GAAP)

353 

360 

347 

339 

341 

1,060 

1,339

Total revenue (GAAP)

C

$1,209

$1,200

$1,183

$1,179

$1,161

$3,592

$3,800

Efficiency ratio (non-GAAP)

E/C

66.02 %

70.02 %

68.49 %

69.88 %

69.84 %

68.17 %

67.58 %

Efficiency ratio, excluding restructuring charges and special items (non-GAAP)

F/D

66.02 %

66.70%

67.65 %

67.11 %

68.02 %

66.78 %

69.23 %

Tangible book value per common share:

Common shares - at end of period (GAAP)

P

527,636,510

537,149,717

547,490,812

545,884,519

559,998,324

527,636,510

559,998,324

Stockholders' equity (GAAP)

$19,353

$19,339

$19,564

$19,268

$19,383

$19,353

$19,383

Less: Goodwill (GAAP)

6,876 

6,876 

6,876 

6,876 

6,876 

6,876 

6,876

Less: Other intangible assets (GAAP)

3 

4 

5 

6 

6 

3 

6

Add: Deferred tax liabilities related to goodwill (GAAP)

465 

450 

434 

420 

399 

465 

399

Tangible common equity (non-GAAP)

Q

$12,939

$12,909

$13,117

$12,806

$12,900

$12,939

$12,900

Tangible book value per common share (non-GAAP)

Q/P

$24.52

$24.03

$23.96

$23.46

$23.04

$24.52

$23.04

Net income per average common share -  basic and diluted, excluding restructuring charges and

special items:

Average common shares outstanding - basic (GAAP)

R

530,985,255

537,729,248

546,291,363

546,810,009

559,998,324

538,279,222

559,998,324

Average common shares outstanding - diluted (GAAP)

S

533,398,158

539,909,366

549,798,717

550,676,298

560,243,747

540,926,361

560,081,031

Net income available to common stockholders (GAAP)

I

$213

$190

$209

$197

$189

$612

$668

Net income per average common share -  basic (GAAP)

I/R

0.40

0.35

0.38

0.36

0.34

1.14

1.19

Net income per average common share -  diluted (GAAP)

I/S

0.40

0.35

0.38

0.36

0.34

1.13

1.19

Net income available to common stockholders, excluding restructuring charges and special items

(non-GAAP)

J

213 

215 

215 

217 

202 

643 

573

Net income per average common share -  basic, excluding restructuring charges and special items

(non-GAAP)

J/R

0.40

0.40

0.39

0.40

0.36

1.20

1.02

Net income per average common share -  diluted, excluding restructuring charges and special

items (non-GAAP)

J/S

0.40

0.40

0.39

0.39

0.36

1.19

1.02

Pro forma Basel III fully phased-in common equity tier 1 capital ratio¹:

Common equity tier 1 (regulatory)

$13,200

$13,270

$13,360

$13,173

$13,330

Less: Change in DTA and other threshold deductions (GAAP)

2 

3 

3 

(6)

(5)

Pro forma Basel III fully phased-in common equity tier 1 (non-GAAP)

T

$13,198

$13,267

$13,357

$13,179

$13,335

Risk-weighted assets (regulatory general risk weight approach)

$112,277

$112,131

$109,786

$105,964

$103,207

Add: Net change in credit and other risk-weighted assets (regulatory)

243 

247 

242 

2,882 

3,207 

Basel III standardized approach risk-weighted assets (non-GAAP)

U

$112,520

$112,378

$110,028

$108,846

$106,414

Pro forma Basel III fully phased-in common equity tier 1 capital ratio (non-GAAP)¹

T/U

11.7%

11.8%

12.1%

12.1%

12.5%

Salaries and employee benefits, excluding restructuring charges and special items:

Salaries and employee benefits (GAAP)

V

$404

$411

$419

$397

$409

$1,234

$1,281

Less: Restructuring charges and special items

—

6 

(1)

1 

—

5 

43

Salaries and employee benefits, excluding restructuring charges and special items (non-GAAP)

W

$404

$405

$420

$396

$409

$1,229

$1,238

FOR THE NINE MONTHS ENDED

SEPTEMBER 30

QUARTERLY TRENDS

1

  Periods prior to 1Q15 reported on a Basel I basis. Basel III ratios assume certain definitions impacting qualifying Basel III capital, which otherwise will phase in through 2018, are fully phased-in. Ratios also reflect the

required US Standardized methodology for calculating RWAs, effective January 1, 2015.

Non-GAAP Reconciliation Table

31

(Excluding restructuring charges and special items)

$s in millions, except per share data

3Q15

2Q15

1Q15

4Q14

3Q14

2015

2014

Outside services, excluding restructuring charges and special items:

Outside services (GAAP)

X

$89

$99

$79

$106

$106

$267

$314

Less: Restructuring charges and special items

—

16 

8 

18 

19 

24 

60

Outside services, excluding restructuring charges and special items (non-GAAP)

Y

$89

$83

$71

$88

$87

$243

$254

Occupancy, excluding restructuring charges and special items:

Occupancy (GAAP)

X

$75

$90

$80

$81

$77

$245

$245

Less: Restructuring charges and special items

—

15 

2 

5 

2 

17 

11

Occupancy, excluding restructuring charges and special items (non-GAAP)

AA

$75

$75

$78

$76

$75

$228

$234

Equipment expense, excluding restructuring charges and special items:

Equipment expense (GAAP)

BB

$62

$65

$63

$63

$58

$190

$187

Less: Restructuring charges and special items

—

—

1 

1 

—

1 

3

Equipment expense, excluding restructuring charges and special items (non-GAAP)

CC

$62

$65

$62

$62

$58

$189

$184

Amortization of software, excluding restructuring charges and special items:

Amortization of software

DD

$35

$37

$36

$43

$38

$108

$102

Less: Restructuring charges and special items

—

—

—

6 

—

—

—

Amortization of software, excluding restructuring charges and special items (non-GAAP)

EE

$35

$37

$36

$37

$38

$108

$102

Other operating expense, excluding restructuring charges and special items:

Other operating expense (GAAP)

FF

$133

$139

$133

$134

$122

$405

$439

Less: Restructuring charges and special items

—

3 

—

2 

—

3 

19

Other operating expense, excluding restructuring charges and special items (non-GAAP)

GG

$133

$136

$133

$132

$122

$402

$420

Pre-provision profit, excluding restructuring charges and special items:

Total revenue, excluding restructuring charges and special items (non-GAAP)

D

$1,209

$1,200

$1,183

$1,179

$1,161

$3,592

$3,512

Less: Noninterest expense, excluding restructuring charges and special items (non-GAAP)

F

798 

801 

800 

791 

789 

2,399 

2,432

Pre-provision profit, excluding restructuring charges and special items (non-GAAP)

HH

$411

$399

$383

$388

$372

$1,193

$1,080

Income before income tax expense (benefit), excluding restructuring charges and special items:

Income before income tax expense (GAAP)

II

$335

$282

$315

$283

$274

$932

$985

Less: Income before income tax expense (benefit) related to restructuring charges and special

items (GAAP)

—

(40)

(10)

(33)

(21)

(50)

152

Income before income tax expense, excluding restructuring charges and special items (non-GAAP)

JJ

$335

$322

$325

$316

$295

$982

$833

Income tax expense, excluding restructuring charges and special items:

Income tax expense (GAAP)

KK

$115

$92

$106

$86

$85

$313

$317

Less: Income tax (benefit) related to restructuring charges and special items (GAAP)

—

(15)

(4)

(13)

(8)

(19)

57

Income tax expense, excluding restructuring charges and special items (non-GAAP)

LL

$115

$107

$110

$99

$93

$332

$260

Restructuring charges and special expense items include:

Restructuring charges

$0

$25

$1

$10

$1

$26

$104

Special items

0

15

9

23

20

24

32

Restructuring charges and special expense items

MM

$0

$40

$10

$33

$21

$50

$136

3Q15

2Q15

1Q15

4Q14

3Q14

% Change

% Change

Operating leverage, excluding restructuring charges and special items:

Total revenue, excluding restructuring charges and special items (non-GAAP)

D

$1,209

$1,200

$1,161

0.8%

4.1%

Less: Noninterest expense, excluding restructuring charges and special items (non-GAAP)

F

$798

$801

$789

(0.4)%

1.1%

Operating leverage, excluding restructuring charges and special items: (non-GAAP)

NN

1.1%

3.0%

QUARTERLY TRENDS

3Q15 v 2Q15

FOR THE NINE MONTHS ENDED

SEPTEMBER 30

QUARTERLY TRENDS

3Q15 v 3Q14

Non-GAAP Reconciliation Table

32

Non-GAAP Reconciliation -

Segments

$s in millions

Consumer

Banking

Commercial

Banking

Other

Consolidated

Consumer

Banking

Commercial

Banking

Other

Consolidated

Consumer

Banking

Commercial

Banking

Other

Consolidated

Net income (loss) (GAAP)

A

68

145

7

220

66

135

(11)

190

61

147

1

209

Less: Preferred stock dividends

—

—

7

7

—

—

—

—

—

—

—

—

Net income available to common stockholders

B

$68

$145

$—

$213

$66

$135

($11)

$190

$61

$147

$1

$209

Return on average tangible common equity

Average common equity (GAAP)

C

$4,791

$4,722

$9,748

$19,261

$4,681

$4,625

$10,085

$19,391

$4,649

$4,526

$10,232

$19,407

Less: Average goodwill (GAAP)

—

—

6,876

6,876

—

—

6,876

6,876

—

—

6,876

6,876

Average other intangibles (GAAP)

—

—

4

4

—

—

5

5

—

—

5

5

Add: Average deferred tax liabilities related to goodwill (GAAP)

—

—

453

453

—

—

437

437

—

—

422

422

Average tangible common equity (non-GAAP)

D

$4,791

$4,722

$3,321

$12,834

$4,681

$4,625

$3,641

$12,947

$4,649

$4,526

$3,773

$12,948

Return on average tangible common equity (non-GAAP)

B/D

5.67

%

12.24%

NM

6.60

%

5.66

%

11.69%

NM

5.90

%

5.30

%

13.15%

NM

6.53

%

Return on average total tangible assets

Average total assets (GAAP)

E

$53,206

$43,113

$38,784

$135,103

$52,489

$42,617

$40,415

$135,521

$51,602

$41,606

$40,117

$133,325

Less: Average goodwill (GAAP)

—

—

6,876

6,876

—

—

6,876

6,876

—

—

6,876

6,876

Average other intangibles (GAAP)

—

—

4

4

—

—

5

5

—

—

5

5

Add: Average deferred tax liabilities related to goodwill (GAAP)

—

—

453

453

—

—

437

437

—

—

422

422

Average tangible assets (non-GAAP)

F

$53,206

$43,113

$32,357

$128,676

$52,489

$42,617

$33,971

$129,077

$51,602

$41,606

$33,658

$126,866

Return on average total tangible assets (non-GAAP)

A/F

0.51%

1.34%

NM

0.68

%

0.51%

1.27%

NM

0.59

%

0.48

%

1.43%

NM

0.67

%

Efficiency ratio

Noninterest expense (GAAP)

G

$623

$175

$—

$798

$613

$181

$47

$841

$596

$173

$41

$810

Net interest income (GAAP)

556

299

1

856

544

286

10

840

533

276

27

836

Noninterest income (GAAP)

235

100

18

353

230

108

22

360

219

100

28

347

Total revenue

H

$791

$399

$19

$1,209

$774

$394

$32

$1,200

$752

$376

$55

$1,183

Efficiency ratio (non-GAAP)

G/H

78.72

%

43.75

%

NM

66.02

%

79.25

%

46.07

%

NM

70.02

%

79.25

%

46.01%

NM

68.49

%

Consumer

Banking

Commercial

Banking

Other

Consolidated

Consumer

Banking

Commercial

Banking

Other

Consolidated

Net income (loss) (GAAP)

A

$52

$140

$5

$197

$54

$139

($4)

$189

Less: Preferred stock dividends

—

—

—

—

—

—

—

—

Net income available to common stockholders

B

$52

$140

$5

$197

$54

$139

($4)

$189

Return on average tangible common equity

Average common equity (GAAP)

C

$4,756

$4,334

$10,119

$19,209

$4,685

$4,205

$10,521

$19,411

Less: Average goodwill (GAAP)

—

—

6,876

6,876

—

—

6,876

6,876

Average other intangibles (GAAP)

—

—

6

6

—

—

6

6

Add: Average deferred tax liabilities related to goodwill (GAAP)

—

—

403

403

—

—

384

384

Average tangible common equity (non-GAAP)

D

$4,756

$4,334

$3,640

$12,730

$4,685

$4,205

$4,023

$12,913

Return on average tangible common equity (non-GAAP)

B/D

4.30

%

12.76%

NM

6.12%

4.57

%

13.10%

NM

5.81%

Return on average total tangible assets

Average total assets (GAAP)

E

$50,546

$40,061

$40,064

$130,671

$49,012

$38,854

$40,825

$128,691

Less: Average goodwill (GAAP)

—

—

6,876

6,876

—

—

6,876

6,876

Average other intangibles (GAAP)

—

—

6

6

—

—

6

6

Add: Average deferred tax liabilities related to goodwill (GAAP)

—

—

403

403

—

—

384

384

Average tangible assets (non-GAAP)

F

$50,546

$40,061

$33,585

$124,192

$49,012

$38,854

$34,327

$122,193

Return on average total tangible assets (non-GAAP)

A/F

0.40

%

1.38%

NM

0.63

%

0.44

%

1.42%

NM

0.61%

Efficiency ratio

Noninterest expense (GAAP)

G

$611

$180

$33

$824

$609

$162

$39

$810

Net interest income (GAAP)

536

283

21

840

532

270

18

820

Noninterest income (GAAP)

218

111

10

339

226

104

11

341

Total revenue

H

$754

$394

$31

$1,179

$758

$374

$29

$1,161

Efficiency ratio (non-GAAP)

G/H

81.09%

45.48

%

NM

69.88

%

80.42

%

43.35

%

NM

69.84

%

THREE MONTHS ENDED MAR 31,

2015

2015

2015

2014

2014

THREE MONTHS ENDED SEPT 30,

THREE MONTHS ENDED JUNE 30,

THREE MONTHS ENDED DEC 31,

THREE MONTHS ENDED SEPT 30,

Non-GAAP Reconciliation Table

33

Non-GAAP Reconciliation -

Segments

$s in millions

Consumer

Banking

Commercial

Banking

Other

Consolidated

Consumer

Banking

Commercial

Banking

Other

Consolidated

Net income (loss) (GAAP)

A

$195

$427

($3)

$619

$130

$421

$117

$668

Less: Preferred stock dividends

—

—

7

7

—

—

—

—

Net income available to common stockholders

B

$195

$427

($10)

$612

$130

$421

$117

$668

Return on average tangible common equity

Average common equity (GAAP)

C

$4,708

$4,625

$10,019

$19,352

$4,635

$4,120

$10,708

$19,463

Less: Average goodwill (GAAP)

—

—

6,876

6,876

—

—

6,876

6,876

Average other intangibles (GAAP)

—

—

5

5

—

—

7

7

Add: Average deferred tax liabilities  related to goodwill (GAAP)

—

—

438

438

—

—

368

368

Average tangible common equity (non-GAAP)

D

$4,708

$4,625

$3,576

$12,909

$4,635

$4,120

$4,193

$12,948

Return on average tangible common equity (non-GAAP)

B/D

5.55%

12.35%

NM

6.34

%

3.76

%

13.67

%

NM

6.90

%

Return on average total tangible assets

Average total assets (GAAP)

E

$52,438

$42,451

$39,766

$134,655

$48,398

$37,951

$40,249

$126,598

Less: Average goodwill (GAAP)

—

—

6,876

6,876

—

—

6,876

6,876

Average other intangibles (GAAP)

—

—

5

5

—

—

7

7

Add: Average deferred tax liabilities related to goodwill (GAAP)

—

—

438

438

—

—

368

368

Average tangible assets (non-GAAP)

F

$52,438

$42,451

$33,323

$128,212

$48,398

$37,951

$33,734

$120,083

Return on average total tangible assets (non-GAAP)

A/F

0.50%

1.35

%

NM

0.65

%

0.36

%

1.48

%

NM

0.74

%

Efficiency ratio

Noninterest expense (GAAP)

G

$1,832

$529

$88

$2,449

$1,902

$472

$194

$2,568

Net interest income (GAAP)

1,633

861

38

2,532

1,615

790

56

2,461

Noninterest income (GAAP)

684

308

68

1,060

681

318

340

1,339

Total revenue

H

$2,317

$1,169

$106

$3,592

$2,296

$1,108

$396

$3,800

Efficiency ratio (non-GAAP)

G/H

79.07%

45.26%

NM

68.17

%

82.82%

42.62

%

NM

67.58%

FOR THE NINE MONTHS ENDED SEPTEMBER 30,

2015

2014

34

*

*

*

*

*

*

*

*

*

*

********************