Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 8

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 8
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12.99% and a Tier 1 leverage ratio of 9.90%.

Funding, Liquidity and Capital Overview

Deposit Composition and Trends

We fund our business primarily through deposits. Deposits represented approximately 81% of total funding at December 31, 2024. The following table summarizes the composition, average size and uninsured percentages of our deposits:

Table 2

Select Deposit Data

Deposits as of December 31, 2024Ending Balance (in millions)Average Size     (in thousands)Uninsured %General Bank segment$73,062 $3634 %Commercial Bank segment3,283 28186SVB Commercial segment36,637 51971Corporate and Rail segment(1)42,247 5813Total$155,229 5438

(1) The average size is reflective of the Direct Bank deposits and excludes brokered deposits and rail.

The General Bank segment mainly includes deposits from our Branch Network, which deploys a relationship-based approach to deposit gathering. The Commercial Bank segment includes deposits of commercial customers, and the SVB Commercial segment includes deposits related to its commercial customer base. Deposits in Corporate mainly included $41.09 billion in our Direct Bank, with the remaining primarily comprised of brokered deposits. 

As displayed in the table above, the average size of deposits varies across our business segments. The uninsured percentage is the percentage of uninsured deposits to total deposits at period end for the respective segments and Corporate. Total uninsured deposits were approximately $59.51 billion or 38% of total deposits at December 31, 2024 and $54.15 billion or 37% at December 31, 2023. 

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Table 3

Deposit Trends

dollars in millionsDeposit BalanceDecember 31, 2024December 31, 2023December 31, 2022General Bank segment$73,062 $68,729 $67,894 Commercial Bank segment3,283 3,228 3,219 SVB Commercial segment36,637 34,730 — Corporate and Rail segment42,247 39,167 18,295 Total deposits$155,229 $145,854 $89,408 

From December 31, 2023 to December 31, 2024, General Bank segment and Corporate deposits increased, primarily due to deposit growth in our Branch Network and Direct Bank, respectively. SVB Commercial