Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 218

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 218
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 and diluted earnings per common share:Earnings per Common Share dollars in millions, except per share dataYear Ended December 31,202420232022Net income$2,777 $11,466 $1,098 Preferred stock dividends61 59 50 Net income available to common stockholders$2,716 $11,407 $1,048 Weighted average common shares outstandingBasic shares outstanding14,341,872 14,527,902 15,531,924 Stock-based awards783 11,711 18,020 Diluted shares outstanding14,342,655 14,539,613 15,549,944 Earnings per common shareBasic$189.42 $785.14 $67.47 Diluted$189.41 $784.51 $67.40 RSUs are discussed in Note 21—Employee Benefit Plans.

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NOTE 20 — INCOME TAXESThe provision (benefit) for income taxes for the year ended December 31, 2024, 2023 and 2022 is comprised of the following:Provision (Benefit) for Income Taxesdollars in millionsYear Ended December 31202420232022Current U.S. federal income tax provision$649 $400 $58 Deferred U.S. federal income tax provision / (benefit)68 46 170 Total federal income tax provision717 446 228 Current state and local income tax provision157 372 4 Deferred state and local income tax (benefit) / provision(71)(222)23 Total state and local income tax provision86 150 27 Total non-U.S. income tax provision12 15 9 Total provision for income taxes$815 $611 $264 A reconciliation from the U.S. Federal statutory rate to BancShares’ actual effective income tax rate for the year ended December 31, 2024, 2023 and 2022 is presented below. Income tax expense (benefit) includes, if applicable, federal, state and foreign taxes. Percentage of Pretax Incomedollars in millionsEffective Income Tax Rate202420232022Pretax IncomeIncome Tax Expense (Benefit)Percentage of Pretax IncomePretax IncomeIncome Tax Expense (Benefit)Percentage of Pretax IncomePretax IncomeIncome Tax Expense (Benefit)Percentage of Pretax IncomeFederal income taxes and rate$3