Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 338

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 338
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 to a $43 million decline in the ALLL reserve release for the Current YTD, and an increase in net charge-offs of $28 million. 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 YTD was $10 million, compared to a benefit of $29 million for the Prior YTD. The increase in expense of $39 million was mostly due to trends in the volume of unfunded commitments, partially offset by a modest shift in our weighting from the downside to baseline economic scenario as further discussed in the “ALLL Methodology” section of this MD&A.

•Income tax expense for the Current YTD was $351 million, a decrease of $194 million from $545 million for the Prior YTD, primarily due to lower income before income taxes and a lower effective income tax rate (“ETR”).

•Return on average assets for the Current YTD was 0.94% compared to 1.33% for the Prior YTD due to the decrease in net income explained above.  

(1) NIM, excluding PAA is a non-GAAP measure. Refer to the “NII, NIM, and Interest and Fees on Loans, Excluding PAA” discussion in the “Non-GAAP Financial Measurements” section of this MD&A for further discussion.

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Balance Sheet Highlights 

•Loans and leases at June 30, 2025 were $141.27 billion, an increase of $1.05 billion or 1% from $140.22 billion at December 31, 2024. Loan growth in the Commercial Bank segment of $793 million was mainly in our industry vertical, primarily technology media and telecommunications (“TMT”) and healthcare, and in the equipment finance portfolios.  Loan growth of $155 million in the SVB Commercial segment was concentrated in the global fund banking portfolio, partially offset by a decline in our investor dependent portfolio. Loan growth of $100 million in the General Bank segment was primarily in the wealth portfolio. 

•Investment securities at June 30, 2025 were $43.35 billion, a decrease of $744 million or 2% from $44.09 billion at December 31, 2024, as maturities and paydowns more than offset net purchases.

•Deposits at June 30,