Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 88

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 2
Chunk 88
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 profit or loss calculated as net income plus the provision for credit losses and income tax expense (benefit). PPNR is a measure of segment profit or loss that is meaningful because it enables management and external users of financial statements to assess income before income taxes excluding the provision for credit losses, which can be more volatile when economic conditions are more dynamic.

The following table provides a reconciliation of net income, the comparable GAAP measure, to PPNR:

Table 54PPNR

dollars in millionsThree Months Ended September 30, 2025General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (GAAP)$320 $18 $175 $17 $38 $568 Plus: provision for credit losses1 168 22 — — 191 Plus: income tax expense (benefit)109 6 58 5 5 183 PPNR (non-GAAP)$430 $192 $255 $22 $43 $942 Three Months Ended June 30, 2025General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (GAAP)$294 $102 $136 $19 $24 $575 Plus: provision for credit losses13 47 55 — — 115 Plus: income tax expense (benefit)101 35 47 6 (6)183 PPNR (non-GAAP)$408 $184 $238 $25 $18 $873 Three Months Ended September 30, 2024General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (GAAP)$202 $124 $187 $20 $106 $639 Plus: provision for credit losses55 11 51 — — 117 Plus: income tax expense99 41 75 8 11 234 PPNR (non-GAAP)$356 $176 $313 $28 $117 $990 Nine Months Ended September 30, 2025General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (GAAP)$867 $163 $477 $58 $61 $1,626 Plus: provision for credit losses60 300 100 — — 460 Plus: income tax expense (benefit)298 56 162 19 (1)534 PPNR (