Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 94

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 94
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 primarily include deposits from the Branch Network, as well as Wealth and Community Association Banking (“CAB”) channels. The $1.35 billion increase in deposits compared to December 31, 2024 was primarily in money market deposits in the Branch Network, along with higher CAB deposits, partially offset by lower time deposits.

70

Commercial Bank 

Table 15

Commercial Bank: Financial Data

dollars in millionsThree Months EndedEarnings SummaryMarch 31, 2025December 31, 2024March 31, 2024Net interest income$293 $307 $300 Noninterest IncomeRental income on operating lease equipment56 55 57 Less: depreciation on operating lease equipment44 44 46 Net rental income on operating lease equipment (1)12 11 11 All other noninterest income69 101 83 Total noninterest income (2)125 156 140 Noninterest income, net of depreciation (1)81 112 94 Total revenue418 463 440 Revenue, net of depreciation (1)374 419 394 Noninterest ExpensePersonnel cost725974All other noninterest expense159 160 140 Total noninterest expense (2)275 263 260 Noninterest expense, net of depreciation (1)231219214Provision for credit losses85 90 20 Income before income taxes58 110 160 Income tax expense15 22 42 Net income$43 $88 $118 PPNR (1)143 200 180 Select Period End BalancesLoans and leases$38,631 $37,898 $36,251 Operating lease equipment, net731 750 763 Deposits2,994 3,502 3,400 

(1)    Net rental income on operating lease equipment, noninterest income, net of depreciation, revenue, net of depreciation, noninterest expense, net of depreciation, and PPNR are non-GAAP measures. Refer to the “Non-GAAP Financial Measurements” section of this MD&A for a reconciliation from the most comparable GAAP measure to the non-GAAP measure. 

(2) Total noninterest income and total noninterest expense include depreciation on operating lease equipment. 

Commercial Bank segment net income for the Current Quarter decreased $45 million compared to the Linked Quarter. PPNR decreased $57 million from the Linked Quarter. The decreases were mostly due to