Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 208

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 208
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 — — — — — — — — Income before income taxes22 25 28 (3)(12)77 97 (20)(20)Income tax expense5 6 8 (1)(13)19 27 (8)(27)Net income$17 $19 $20 $(2)(12)%$58 $70 $(12)(18)%PPNR (1)$22 $25 $28 $(3)(12)%$77 $97 $(20)(21)%Select Period End BalancesLoans and leases$63 $62 $62 $1 — %$63 $62 $1 — %Operating lease equipment, net8,709 8,716 8,419 (7)— 8,709 8,419 290 3 Deposits2 3 14 (1)(28)2 14 (12)(86)

(1)    Net rental income on operating lease equipment; noninterest income, net of depreciation and maintenance; noninterest expense, net of depreciation and maintenance; revenue, net of depreciation and maintenance; and PPNR are non-GAAP measures. 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.  

(2) Total noninterest income includes rental income on operating lease equipment and all other noninterest income. 

(3) Total noninterest expense includes depreciation on operating lease equipment. 

79

Rail segment net income for the current quarter decreased $2 million compared to the linked quarter, mostly due to higher maintenance and other operating lease expenses, partially offset by lower all other noninterest expense, largely due to the linked quarter including an accrual for the previously discussed vendor dispute.

Rail segment net income for the current YTD decreased $12 million compared to the prior YTD, mostly due to lower NII and higher total noninterest expense, partially offset by higher rental income on operating lease equipment. 

•The $24 million decrease in NII was primarily due to higher funding costs, reflective of the increase in operating lease equipment.  

•The $13 million increase in all other noninterest expense was primarily due to the previously mentioned vendor dispute.

•Depreciation on operating lease equipment increased $13 million, reflective of growth in operating lease equipment, and maintenance and