Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 194

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 194
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151,629 1,260 Total3,634 3,272 Less accumulated depreciation and amortization1,628 1,395 Premises and equipment, net$2,006 $1,877 Depreciation and amortization expense is included in equipment expense and net occupancy expense in the Consolidated Statements of Income and was $276 million, $225 million, and $142 million for the years ended December 31, 2024, 2023 and 2022, respectively. For the year ended December 31, 2024, there were $22 million of impairment charges primarily on software and related projects, of which $9 million was included in acquisition-related expenses, with the remaining included in other noninterest expense. For the year ended December 31, 2023, there were $35 million of impairment charges primarily on software, of which $32 million was included in acquisition-related expenses, with the remaining amount included in other non-interest expense.

 NOTE 8 — GOODWILL AND CORE DEPOSIT INTANGIBLES

GoodwillBancShares had goodwill of $346 million at December 31, 2024 and 2023. There was no goodwill impairment during the years ended December 31, 2024, 2023, or 2022. Goodwill relates to the General Bank reporting unit. Refer to Note 1—Significant Accounting Policies and Basis of Presentation for accounting policies and impairment testing related to goodwill and intangible assets.Core Deposit IntangiblesCore deposit intangibles represent the estimated fair value of core deposits and other customer relationships acquired. Core deposit intangibles are being amortized over their estimated useful lives. The following tables summarize the activity for core deposit intangibles:Core Deposit IntangiblesYear Ended December 31,dollars in millions20242023Balance at beginning of period, net of accumulated amortization $312 $140 Core deposit intangibles related to the SVBB Acquisition— 230 Less: amortization for the period63 58 Balance at end of period, net of accumulated amortization$249 $312 The following table summarizes the accumulated amortization balance for core deposit intangibles:Core Deposit Intangible Accumulated Amortizationdollars in millionsDecember 31, 2024December 31, 2023Gross balance$501 $501 Less: accumulated amortization252 189 Balance, net of accumulated amortization$249 $312 

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