Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 190

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 190
---
022Day 2 Provision for Loan and Lease Losses$— $462 $454 Provision for loan and lease losses469 703 97 Total provision for loan and lease losses469 1,165 551 Day 2 Provision for Off-Balance Sheet Credit Exposure— 254 59 (Benefit) provision from off-balance sheet credit exposure(38)(44)35 Total (benefit) provision for off-balance sheet credit exposure(38)210 94 Provision for credit losses$431 $1,375 $645 

145

NOTE 6 — LEASESLesseeBancShares’ leases primarily include administrative offices and bank locations. Substantially all of our lease liabilities relate to United States real estate leases under operating lease arrangements. Our real estate leases have remaining lease terms of up to 33 years. Our lease terms may include options to extend or terminate the lease, and our operating leases have renewal terms that can extend from 1 to 25 years. The options are included in the lease term when it is determined that it is reasonably certain the option will be exercised. The following table presents supplemental balance sheet information and remaining weighted average lease terms and discount rates: Supplemental Lease Informationdollars in millionsClassificationDecember 31, 2024December 31, 2023Lease assets:Operating lease ROU assetsOther assets$316 $354 Finance leasesPremises and equipment15 9 Total lease assets$331 $363 Lease liabilities:Operating leasesOther liabilities$357 $396 Finance leasesOther borrowings15 9 Total lease liabilities$372 $405 Weighted-average remaining lease terms:Operating leases7.4 years8.1 yearsFinance leases11.7 years15.4 yearsWeighted-average discount rate:Operating leases2.94 %2.70 %Finance leases3.96 3.52 As of December 31, 2024, there were no leases that have not yet commenced that would have a material impact on BancShares’ consolidated financial statements.  The following table presents components of lease cost:Components of Net Lease Costdollars in millionsYear Ended December 31,Classification202420232022Operating lease cost (1)Occupancy expense$76 $64 $58 Finance lease ROU asset amortizationEquipment expense2 2 2 Variable lease cost (2)Occupancy expense28 25 12 Sublease income Occup