Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 202

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 202
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 other noninterest expense26 14 15 12 68 40 29 11 42 Total noninterest expense (3)143 134 131 9 6 277 248 29 12 Noninterest expense, net of depreciation and maintenance (1)32 22 21 10 45 54 43 11 26 Provision for credit losses— — — — — — — — — Income before income taxes25 30 27 (5)(15)55 69 (14)(20)Income tax expense6 8 8 (2)(15)14 19 (5)(26)Net income$19 $22 $19 $(3)(15)%$41 $50 $(9)(18)%PPNR (1)$25 $30 $27 $(5)(15)%$55 $69 $(14)(21)%Select Period End BalancesLoans and leases$62 $62 $62 $— — %$62 $62 $— — %Operating lease equipment, net8,716 8,640 8,178 76 1 8,716 8,178 538 7 Deposits3 12 10 (9)(77)3 10 (7)(73)

(1)    Net rental income on operating lease equipment; noninterest income, net of depreciation and maintenance; noninterest expense, net of depreciation and maintenance; revenue, net of depreciation and maintenance; and PPNR are non-GAAP measures. Refer to the “Non-GAAP Financial Measurements” section of this MD&A for a reconciliation from the most comparable GAAP measure to the non-GAAP measure.  

(2) Total noninterest income includes rental income on operating lease equipment and all other noninterest income. 

(3) Total noninterest expense includes depreciation on operating lease equipment. 

Rail segment net income for the Current Quarter decreased $3 million compared to the Linked Quarter, mostly due to higher all other noninterest expense, partially offset by higher net rental income. 

•The $12 million increase in all other noninterest expense was primarily due to the previously mentioned vendor dispute.

•The $5 million increase in net rental income on operating lease equipment reflected higher rental income, mainly the result of fleet additions and strong repricing of renewed equipment. Deprec