Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 273

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 273
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 including FHLB stock and nonmarketable securities without readily determinable fair values that are recorded at cost, and investments in qualified affordable housing projects, all of which are accounted for under the proportional amortization method (the “PAM”). 

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NOTE 4 — LOANS AND LEASESUnless otherwise noted, loans held for sale are not included in the following tables. Leases in the following tables include finance leases, but exclude operating lease equipment. Loans by Class dollars in millionsJune 30, 2025December 31, 2024CommercialCommercial construction$5,714 $5,109 Owner occupied commercial mortgage17,053 16,842 Non-owner occupied commercial mortgage16,100 16,194 Commercial and industrial40,658 40,737 Leases2,028 2,014 Global fund banking28,677 27,904 Investor dependent2,777 3,193 Total commercial113,007 111,993 ConsumerResidential mortgage23,059 23,152 Revolving mortgage2,736 2,567 Consumer auto1,490 1,523 Consumer other977 986 Total consumer28,262 28,228 Total loans and leases$141,269 $140,221 Refer to Note 1—Significant Accounting Policies and Basis of Presentation for discussion related to changes in loan classes.At June 30, 2025 and December 31, 2024, accrued interest receivable on loans included in other assets was $605 million and $603 million, respectively, and was excluded from the estimate of credit losses.   The discount on acquired loans is accreted to interest income over the contractual life of the loan using the effective interest method. Discount accretion income was $75 million and $159 million for the three and six months ended June 30, 2025, including $4 million and $12 million for unfunded commitments, respectively. Discount accretion income was $145 million and $308 million for the three and six months ended June 30, 2024, including $20 million and $56 million for unfunded commitments, respectively.The following table presents selected components of the amortized cost of loans, including the unamortized discount on acquired loans.Components of Amortized Cost dollars in millionsJune 30, 2025December 31, 2024Deferred fees, including unamortized costs and unearned fees on non-