Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 40

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 40
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IBLES

GoodwillBancShares had goodwill of $346 million at March 31, 2025 and December 31, 2024. There was no goodwill impairment during the three months ended March 31, 2025 or 2024. Goodwill relates to the General Bank reporting segment. Core Deposit IntangiblesCore deposit intangibles represent the estimated fair value of core deposits and other customer relationships acquired. Core deposit intangibles are being amortized over their estimated useful lives. The following tables summarize the activity for core deposit intangibles:Core Deposit IntangiblesThree Months Ended March 31,dollars in millions2025Balance at beginning of period, net of accumulated amortization $249 Less: amortization for the period15 Balance at end of period, net of accumulated amortization$234 The following table summarizes the accumulated amortization balance for core deposit intangibles:Core Deposit Intangible Accumulated Amortizationdollars in millionsMarch 31, 2025December 31, 2024Gross balance$501 $501 Less: accumulated amortization267 252 Balance, net of accumulated amortization$234 $249 The following table summarizes the expected amortization expense as of March 31, 2025 in subsequent periods for core deposit intangibles:Core Deposit Intangible Expected Amortizationdollars in millionsRemainder 2025$39 202646 202739 202834 202930 203028 Thereafter18 Balance, net of accumulated amortization$234 

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NOTE 8 — VARIABLE INTEREST ENTITIESUnconsolidated VIEsUnconsolidated VIEs include limited partnership interests and joint ventures where BancShares’ involvement is limited to an investor interest and BancShares does not have the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance or obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The table below provides a summary of the assets and liabilities included on the Consolidated Balance Sheets associated with unconsolidated VIEs. The table also presents our maximum exposure to loss which consists of outstanding book basis and unfunded commitments for future investments, and represents potential losses that would be incurred under hypothetical circumstances, such that the value of BancShares’ interests and any associated collateral declines to zero and assuming no recovery. BancShares believes the possibility is remote under this hypothetical scenario; accordingly,