Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 126

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 126
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 equipment394 371 345 Maintenance and other operating lease expenses219 222 189 Personnel cost3,078 2,636 1,408 Net occupancy expense242 244 191 Equipment expense504 422 216 Professional fees121 71 45 Third-party processing fees230 205 103 FDIC insurance expense138 158 31 Marketing expense76 102 53 Acquisition-related expenses210 470 231 Intangible asset amortization63 57 23 Other noninterest expense460 377 240 Total noninterest expense5,735 5,335 3,075 Income before income taxes3,592 12,077 1,362 Income tax expense815 611 264 Net income$2,777 $11,466 $1,098 Preferred stock dividends61 59 50 Net income available to common stockholders$2,716 $11,407 $1,048 Earnings per common shareBasic$189.42 $785.14 $67.47 Diluted$189.41 $784.51 $67.40 Weighted average common shares outstandingBasic14,341,87214,527,90215,531,924Diluted14,342,65514,539,61315,549,944

See accompanying Notes to the Consolidated Financial Statements.

102

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income

Year Ended December 31,dollars in millions202420232022Net income$2,777 $11,466 $1,098 Other comprehensive income (loss), net of taxNet unrealized (loss) gain on securities available for sale(7)162 (730)Net change in unrealized loss on securities available for sale transferred to securities held to maturity1 1 1 Net change in defined benefit pension items44 81 (16)Net unrealized gain on cash flow hedge derivatives8 — — Other comprehensive income (loss), net of tax$46 $244 $(745)Total comprehensive income$2,823 $11,710 $353 

See accompanying Notes to the Consolidated Financial Statements.

103

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity

dollars in millions, except per share