Photo by James Sanna | Banker & Tradesman Staff/file

Citizens Bank has increased its share repurchase program after a successful third quarter, executives said in last week’s earnings announcement.

The bank board of directors increased the capacity of Citizens’ common share repurchase program to $1.95 billion, an increase of $1.3 billion above the $650 million of capacity currently remaining under a prior June 2025 authorization.  Citizens also announced that its board of directors declared a quarterly common stock dividend of $0.52 per share, a 13 percent increase compared to the prior quarter.

“We continued to deliver attractive revenue and earnings growth in the third quarter, notwithstanding significant volatility in the external environment,” Citizens Chairman and CEO Bruce Van Saun said. “We remain focused on executing our strategic initiatives, advancing our AI, technology and cybersecurity agenda, and attracting great talent. We remain confident in our positioning and outlook for [the fourth quarter] and for 2027.”

Net interest income at the bank increased by 13 percent on a year-over-year basis, with Citizens reporting $1.6 billion in the third quarter of 2026.  Total income increased by 10 percent to $ 2.3 billion in the third quarter of 2026, while net income increased by 29 percent to $636 million.

Citizens Private Bank has continued to support the organization’s overall performance. The private bank has $18.5 million in spot deposits, up from $12.5 million in the third quarter of 2025.

Citizens opened a private bank office in Boston and will be opening another Massachusetts office in Wellesley, according to its third-quarter earnings release.

The private bank also reported net income of $66.4 million in net income, up from $35.4 million in the third quarter of 2025. Total revenue increased to $188.4 million in the third quarter of 2026, up from $120.4 million in the third quarter of 2025.