Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 234

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 234
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 included in noninterest income, and to a lesser extent, gains on sale of leasing equipment. Corporate All other financial information not included in the segments is reported in Corporate. Corporate contains BancShares’ centralized treasury function, which manages the investment security portfolio, interest-earning deposits at banks and corporate/wholesale funding (e.g., borrowings, Direct Bank deposits and brokered deposits). Corporate deposits are primarily comprised of Direct Bank deposits. Corporate includes interest income on investment securities and interest-earning deposits at banks; interest expense for borrowings, Direct Bank deposits, and brokered deposits; as well as funds transfer pricing allocations. Noninterest income includes gains or losses on sales of investment securities, fair value adjustments on marketable equity securities, and income from BOLI. Personnel cost in Corporate includes the personnel costs not allocated to the operating segments. Corporate includes acquisition-related expenses and certain items related to accounting for business combinations, such as gains on acquisitions, Day 2 Provision for Credit Losses and discount accretion income for certain acquired loans. Corporate also includes the offsetting impacts of Allocated Expenses as discussed above. 

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Segment Results and Select Period End BalancesThe following tables present the condensed income statements by segment and include the significant segment expenses and measure of segment profit or loss that are further discussed in Note 1—Significant Accounting Policies and Basis of Presentation. dollars in millionsYear Ended December 31, 2024General BankCommercial BankSVB CommercialRailCorporate (1)BancShares (2)Net interest income (expense)$2,980 $1,100 $2,274 $(186)$975 $7,143 Rental income on operating lease equipment— 227 — 821 — 1,048 All other noninterest income612 315 565 15 60 1,567 Total noninterest income612 542 565 836 60 2,615 Total revenue3,592 1,642 2,839 650 1,035 9,758 Depreciation on operating lease equipment— 185 — 209 — 394 Maintenance and other operating lease expenses— — — 219 — 219 Personnel cost787 233 530 25 1,503 3,078 Acquisition-related expenses— — — — 210 210 All other noninterest expense (3)1,244 493 1,023 50 (976