Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 195

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 195
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The following table summarizes the expected amortization expense as of December 31, 2024 in subsequent periods for core deposit intangibles:Core Deposit Intangible Expected Amortizationdollars in millions2025$54 202646 202739 202834 202930 Thereafter46 Balance, net of accumulated amortization$249 Intangible Liability An intangible liability was recorded in other liabilities for net below market lessor lease contract rental rates related to the rail portfolio. This lease intangible is being amortized on a straight-line basis over the lease term, thereby increasing rental income (a component of noninterest income) over the remaining term of the lease agreements.The following tables summarize the activity for the intangible liability:Intangible LiabilityYear Ended December 31,dollars in millions20242023Balance at January 1$24 $36 Amortization(6)(12)Balance at December 31, net of accumulated amortization$18 $24 The following tables summarize the accumulated amortization balance for the intangible liability:Intangible Liability Accumulated Amortizationdollars in millionsDecember 31, 2024December 31, 2023Gross balance$52 $52 Accumulated amortization(34)(28)Balance, net of accumulated amortization$18 $24 The following table summarizes the expected amortization as of December 31, 2024 in subsequent annual periods for the intangible liability:Intangible Liability Amortizationdollars in millions2025$4 20263 20273 20282 20292 Thereafter4 $18 

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NOTE 9 — VARIABLE INTEREST ENTITIESUnconsolidated VIEsThe table below provides a summary of the assets and liabilities included on the Consolidated Balance Sheets associated with unconsolidated VIEs. The table also presents our maximum exposure to loss which consists of outstanding book basis and unfunded commitments for future investments, and represents potential losses that would be incurred under hypothetical circumstances, such that the value of BancShares’ interests and any associated collateral declines to zero and assuming no recovery. BancShares believes the possibility is remote under this hypothetical scenario; accordingly, this disclosure is not an indication of expected loss. Unconsolidated VIEs Carrying Valuedollars in millionsDecember 31, 2024December 31, 2023Affordable housing tax credit investments$2,357 $1,887 Other tax credit equity investments2