Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 132

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 132
---
 30,2025202420252024Provision for loan and lease losses$214 $123 $473 $311 Benefit for off-balance sheet credit exposure(23)(6)(13)(35)Provision for credit losses$191 $117 $460 $276 

32

NOTE 6 — LEASESLesseeBancShares’ leases primarily include administrative offices and bank locations. Substantially all of our operating lease liabilities relate to United States real estate leases. Our finance lease liabilities relate to equipment leases, including the lease of certain ATMs. Our real estate leases have remaining lease terms of up to 32 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 millionsClassificationSeptember 30, 2025December 31, 2024Lease assets:Operating lease ROU assetsOther assets$305 $316 Finance leasesPremises and equipment67 15 Total lease assets$372 $331 Lease liabilities:Operating leasesOther liabilities$342 $357 Finance leasesOther borrowings67 15 Total lease liabilities$409 $372 Weighted-average remaining lease terms:Operating leases7.3 years7.4 yearsFinance leases8.1 years11.7 yearsWeighted-average discount rate:Operating leases3.10 %2.94 %Finance leases4.20 3.96 As of September 30, 2025, 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 millionsThree Months Ended September 30,Nine Months Ended September 30,Classification2025202420252024Operating lease costOccupancy expense$18 $19 $54 $56 Finance lease ROU asset amortizationEquipment expense3 — 6 1 Interest on lease liabilitiesInterest expense - other borrowings1 — 2 — Variable lease cost (1)Occupancy expense4 7 16 22 Sublease income Occupancy expense(1)(1)(4)(4)Net