Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 44

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 44
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 of $71 million from $1.75 billion at December 31, 2023. The ALLL as a percentage of total loans and leases at December 31, 2024 was 1.20%, compared to 1.31% at December 31, 2023. 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. Refer to the “Recent Events” section of the Executive Overview in this MD&A.

Our ALLL methodology is discussed further in the section entitled “Critical Accounting Estimates” of this MD&A and Note 1—Significant Accounting Policies and Basis of Presentation.

76

Table 29

ALLL for Loans and Leases

dollars in millionsYear Ended December 31, 2024CommercialConsumerSVBTotalBalance at beginning of period$1,126 $166 $455 $1,747 Total provision for loan and lease losses298 8 163 469 Charge-offs(407)(30)(220)(657)Recoveries46 14 57 117 Balance at end of period$1,063 $158 $455 $1,676 Net charge-off ratio0.39 %Net charge-offs$361 $16 $163 $540 Average loans$137,456 Percent of loans in each category to total loans51 %20 %29 %100 %Year Ended December 31, 2023CommercialConsumerSVBTotalBalance at beginning of period$789 $133 $— $922 Initial PCD ALLL14 3 203 220 Day 2 Provision for Loan and Lease Losses39 43 380 462 Provision for loan and lease losses651 2 50 703 Total provision for loan and lease losses690 45 430 1,165 Charge-offs(414)(28)(196)(638)Recoveries47 13 18 78 Balance