Citizens Financial Group Reports Q2 2026 Earnings; Launches Preferred Offering

What Happened
Citizens Financial Group, Inc. announced its second quarter 2026 earnings (results and a financial supplement filed as Exhibits 99.1 and 99.2) and, on July 21, 2026, launched a proposed public offering of a new series of Fixed-Rate Reset Non‑Cumulative Perpetual Preferred Stock, Series J. The Offering has not yet been priced. If it is priced and closes, the company intends to use net proceeds to redeem some or all of its outstanding 4.000% Series G Preferred Stock on the dividend payment date of October 6, 2026.

Key Details

• Q2 2026 earnings results and financial supplement were filed as Exhibits 99.1 and 99.2 (announced July 16 and filed July 21, 2026).
• Proposed offering: Series J Fixed‑Rate Reset Non‑Cumulative Perpetual Preferred Stock (preliminary prospectus supplement filed July 21, 2026).
• Possible use of proceeds: redeem some or all of Series G Preferred Stock (4.000% Fixed‑Rate Reset, $1,000 liquidation preference, CUSIP 174610BD6) on the October 6, 2026 dividend date.
• The offering is subject to pricing, market conditions and other considerations; there is no assurance it will price, close, or that redemption will occur.

Why It Matters
The filing signals two investor items to watch: the company’s Q2 2026 financial results (review the earnings exhibit and supplement for performance details) and a potential capital-structure change if the Series J offering funds a redemption of Series G preferred shares. Preferred shareholders should note the announced possible redemption date (Oct. 6, 2026) and the uncertainty—Citizens will announce any final redemption decision by press release or 8‑K after the offering closes. The 8‑K also includes the company’s forward‑looking caution about risks affecting completion of the offering.