Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 84

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 84
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 most directly comparable financial measure calculated and presented in accordance with GAAP, along with a reconciliation between the GAAP financial measure and the non-GAAP financial measure. We describe each of these measures below and explain why we believe the measure to be useful.

103

PPNR

PPNR is a non-GAAP measure of 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 54

PPNR

dollars in millionsThree 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 March 31, 2025General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (GAAP)$253 $43 $166 $22 $(1)$483 Plus: provision for credit losses46 85 23 — — 154 Plus: income tax expense (benefit)88 15 57 8 — 168 PPNR (non-GAAP)$387 $143 $246 $30 $(1)$805 Three Months Ended June 30, 2024General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (GAAP)$252 $117 $214 $19 $105 $707 Plus: provision for credit losses37 39 19 — — 95 Plus: income tax expense92 44 85 8 43 272 PPNR (non-GAAP)$381 $200 $318 $27 $148 $1,074 Six Months Ended June 30, 2025General BankCommercial BankSVB CommercialRailCorporateTotal BancSharesNet income (