Citizens Financial Group's (CFG) earnings missed my estimates in the first quarter due to higher-than-expected provision expense. Earnings will likely recover from the first quarter lows in the quarters ahead; however, they are unlikely to return to the pre-COVID-19 level this year. CFG may be required to further provision for loan losses due to the deteriorating economic outlook, which will drag earnings this year. Additionally, further compression of net interest margin is likely due to the federal funds rate cuts in March and a low banking spread under the Paycheck Protection Program. On the other