Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 170

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 170
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 the Linked Quarter. Earnings per basic and diluted common share for the Current Quarter was $42.36, an increase from $34.47 for the Linked Quarter. The increase in net income available to common stockholders was largely due to higher noninterest income, a decrease in the provision for credit losses, and higher net interest income (“NII”), partially offset by a modest increase in noninterest expense as further discussed below.

•NII for the Current Quarter was $1.70 billion, an increase of $32 million or 2% from $1.66 billion for the Linked Quarter, largely due to increases in interest income on loans and interest-earning deposits at banks, mainly a result of higher average balances and a higher day count, partially offset by an increase in interest expense on borrowings due to a higher average balance and rate paid as the Linked Quarter Debt Issuances were outstanding for the entire Current Quarter. 

•NIM for the Current Quarter and Linked Quarter was 3.26% as the favorable impact of a lower rate paid on interest-bearing deposits was offset by the unfavorable impacts of a higher average balance of interest-bearing deposits and borrowings, a higher rate paid on borrowings, and lower PAA.  

◦PAA for the Current Quarter was $66 million, a decrease of $9 million from $75 million for the Linked Quarter. NIM, excluding PAA(1) for the Current Quarter was 3.14%, an increase of 2 basis points (“bps”) from 3.12% for the Linked Quarter. 

•Noninterest income for the Current Quarter was $678 million, an increase of $43 million or 7% from $635 million for the Linked Quarter, primarily the result of an increase in other noninterest income of $28 million, mainly attributable to the positive impacts from fair value changes in customer derivative positions and other non-marketable investments, as well as the Linked Quarter write-down of a held for sale asset. The remaining net increase included a favorable change in the fair value of marketable equity securities of $7 million. 

•Noninterest expense for the Current Quarter was $1.50 billion, an increase of $7 million or 1% from $1.49 billion for the Linked Quarter, mainly due to other noninterest expense accruals totaling $15 million and an increase in professional fees of $5 million, partially offset by decreases in personnel cost of $8