Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 205

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 205
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 expenses— — — — 58 58 All other noninterest expense (3)321 140 247 14 (289)433 Total noninterest expense528 260 366 117 105 1,376 Provision for credit losses21 20 23 — — 64 Income before income taxes280 160 268 42 254 1,004 Income tax expense79 42 75 11 66 273 Net income$201 $118 $193 $31 $188 $731 Select Period End BalancesLoans and leases$62,015 $36,251 $37,042 $62 $— $135,370 Operating lease equipment, net— 763 — 8,048 — 8,811 Deposits70,908 3,400 33,879 14 41,408 149,609 (1) Corporate includes all other financial information that is not included in the reportable segments.(2) In the segment reporting table above, there are no reconciling differences between BancShares and the aggregate of all reportable segments and Corporate. (3) All other noninterest expense represents “other segment items” under ASC 280 and primarily includes Allocated Expenses, net occupancy expense, equipment expense, professional fees, third-party processing fees, FDIC insurance expense, marketing expense, and intangible amortization. All other noninterest expense is presented net of Allocated Expenses in the segment reporting table above, resulting in Contra Expense for Corporate as further discussed above.

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NOTE 18 — COMMITMENTS AND CONTINGENCIESCommitmentsTo meet the financing needs of its customers, BancShares and its subsidiaries have financial instruments with off-balance sheet risk. These financial instruments involve elements of credit, interest rate or liquidity risk and include commitments to extend credit and standby letters of credit.  The accompanying table summarizes credit-related commitments and other purchase and funding commitments:dollars in millionsMarch 31, 2025December 31, 2024Financing CommitmentsFinancing assets (excluding leases)$52,514 $53,250 Letters of CreditStandby letters of credit2,305 2,188 Other letters of credit99 103 Deferred Purchase Agreements1,602 1,802 Purchase and Funding Commitments (1)119 178 (1)    BancShares’ purchase and funding