Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 9

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 9
---
 the Linked Quarter, mostly reflecting higher income before income taxes.

•Return on average assets for the Current Quarter was 1.01%, an increase of 14 bps from 0.87% for the Linked Quarter due to the increase in net income discussed above.  

(1) NIM, excluding PAA is a non-GAAP measure. Refer to the “NII, NIM, and Interest and Fees on Loans, Excluding PAA” discussion in the “Non-GAAP Financial Measurements” section of this MD&A for further discussion.

60

Year-to-Date Income Statement Highlights

•Net income for the Current YTD was $1.06 billion, a decrease of $380 million or 27% from $1.44 billion for the Prior YTD. Net income available to common stockholders for the Current YTD was $1.03 billion, a decrease of 27% from $1.41 billion for the Prior YTD. Earnings per diluted common share for the Current YTD was $76.73, a decrease from $96.80 for the Prior YTD. The decrease in net income available to common stockholders was due to lower NII, higher noninterest expense and higher provision for credit losses, partially offset by lower income tax expense and higher noninterest income as further discussed below. 

•NII for the Current YTD was $3.36 billion, a decrease of $280 million or 8% from $3.64 billion for the Prior YTD. NIM for the Current YTD was 3.26%, a decrease of 40 bps from 3.66% for the Prior YTD. The decreases in NII and NIM were mainly due to lower yields on loans and interest-earning deposits at banks, a mix shift from interest-earning deposits at banks to investment securities, a higher average balance of interest-bearing deposits, and a higher average balance and rate paid for borrowings, partially offset by a decline in the rate paid on interest-bearing deposits and a higher average balance of loans. 

◦PAA for the Current YTD was $142 million, a decrease of $156 million from $298 million for the Prior YTD. NIM, excluding PAA,(1) for the Current YTD was 3.13%, a decrease of 23 bps from 3.36% for the Prior YTD.  

•Noninterest income for the Current Y