Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 316

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 316
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 value changes in customer derivative positions and foreclosed properties and lower factoring commissions, partially offset by higher lending-related fees, mostly due to higher capital market fees. 

The $13 million increase in personnel cost was mainly due to seasonal increases in employee benefits and payroll taxes. 

The decrease in provision for credit losses for the Current Quarter was mainly due to lower net charge-offs, largely in equipment finance, which offset loan growth. 

The $733 million increase in loans and leases compared to December 31, 2024 reflects loan growth in a number of industry verticals, primarily TMT and healthcare, along with lower prepayments.  

Deposits in the Commercial Bank segment decreased by $508 million from December 31, 2024, mostly due to a decline in noninterest-bearing checking deposits. Customers generally build deposits at year end in anticipation of higher first quarter usage.

71

SVB Commercial

Table 16

SVB Commercial: Financial Data

dollars in millionsThree Months EndedEarnings SummaryMarch 31, 2025December 31, 2024March 31, 2024Net interest income$493 $544 $523 Total noninterest income132 137 134 Total revenue625 681 657 Personnel cost114 111 119 All other noninterest expense265 288 247 Total noninterest expense379 399 366 Provision for credit losses23 43 23 Income before income taxes223 239 268 Income tax expense57 58 75 Net income$166 $181 $193 PPNR (1)246 282 291 Select Period End BalancesLoans and leases$37,818 $37,374 $37,042 Deposits37,020 36,524 33,879 

(1)    PPNR is a non-GAAP measure. 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.

SVB Commercial segment net income for the Current Quarter decreased $15 million compared to the Linked Quarter. PPNR decreased $36 million from the Linked Quarter. The decreases in net income and PPNR were mainly due to lower NII, partially offset by lower all other noninterest expense, while the decrease in segment net income also included a lower provision for credit losses.    

NII decreased $51 million due to lower interest income on loans