Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 189

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 189
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Year Ended December 31, 2023CommercialConsumerSVBTotalCommercialConsumerSVBTotalBalance at beginning of period$1,126 $166 $455 $1,747 $789 $133 $— $922 Initial PCD ALLL— — — — 14 3 203 220 Day 2 Provision for Loan and Lease Losses— — — — 39 43 380 462 Provision for loan and lease losses298 8 163 469 651 2 50 703 Total provision for loan and lease losses298 8 163 469 690 45 430 1,165 Charge-offs(407)(30)(220)(657)(414)(28)(196)(638)Recoveries46 14 57 117 47 13 18 78 Balance at end of period$1,063 $158 $455 $1,676 $1,126 $166 $455 $1,747 dollars in millionsYear Ended December 31, 2022CommercialConsumerSVBTotalBalance at beginning of period$80 $98 $— $178 Initial PCD ALLL258 14 — 272 Day 2 Provision for Loan and Lease Losses432 22 — 454 Provision (benefit) for loan and lease losses101 (4)— 97 Total provision for loan and lease losses533 18 — 551 Charge-offs(126)(20)— (146)Recoveries44 23 — 67 Balance at end of period$789 $133 $— $922 The decrease in the ALLL at December 31, 2024 compared to December 31, 2023 was mainly due to changes in loan mix, improvements in the macroeconomic forecast, and decreases in specific reserves for individually evaluated loans. The mix shift was mostly within SVB loans and reflected increases in the global fund banking portfolio, which has a lower loss rate relative to the rest of our portfolios, and decreases in the investor dependent portfolios, which have higher loss rates. These decreases were partially offset by increases related to loan growth and a $20 million loan loss reserve for Helene.The following table presents the components of the provision for credit losses:Provision for Credit Lossesdollars in millionsYear Ended December 31,202420232