Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 8

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 8
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 paid on borrowings, and lower PAA.  

◦PAA for the Current Quarter was $66 million, a decrease of $9 million from $75 million for the Linked Quarter. NIM, excluding PAA(1) for the Current Quarter was 3.14%, an increase of 2 basis points (“bps”) from 3.12% for the Linked Quarter. 

•Noninterest income for the Current Quarter was $678 million, an increase of $43 million or 7% from $635 million for the Linked Quarter, primarily the result of an increase in other noninterest income of $28 million, mainly attributable to the positive impacts from fair value changes in customer derivative positions and other non-marketable investments, as well as the Linked Quarter write-down of a held for sale asset. The remaining net increase included a favorable change in the fair value of marketable equity securities of $7 million. 

•Noninterest expense for the Current Quarter was $1.50 billion, an increase of $7 million or 1% from $1.49 billion for the Linked Quarter, mainly due to other noninterest expense accruals totaling $15 million and an increase in professional fees of $5 million, partially offset by decreases in personnel cost of $8 million, equipment expense of $5 million, and acquisition-related expenses of $4 million.

•Provision for credit losses for the Current Quarter was $115 million, a decrease of $39 million from $154 million for the Linked Quarter. 

◦The provision for loan and lease losses for the Current Quarter was $111 million, a decrease of $37 million from $148 million for the Linked Quarter, mainly attributable to a decrease in net charge-offs of $25 million and a decrease of $8 million in the ALLL for the Current Quarter, compared to an increase of $4 million in the ALLL for the Linked Quarter. Changes in the ALLL are discussed in the “Provision for Credit Losses” section of this MD&A.

◦The provision for off-balance sheet credit exposure for the Current Quarter was $4 million, a decrease of $2 million compared to $6 million for the Linked Quarter, mostly due to the modest shift in our scenario weighting as further discussed in the “ALLL Methodology” section of this MD&A.

•Income tax expense for the Current Quarter was $183 million, an increase of $15 million from $168 million for