Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 310

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 310
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, client investment fees, wealth management services, international fees, factoring commissions, cardholder and merchant services, and insurance commissions.  

Table 10

Noninterest Income

dollars in millionsThree Months EndedIncrease (Decrease) from Linked QuarterMarch 31, 2025December 31, 2024March 31, 2024Rental income on operating lease equipment$270 $272 $255 $(2)(1)%Lending-related fees66 68 59 (2)(3)Deposit fees and service charges58 58 58 — (1)Client investment fees53 54 50 (1)(3)Wealth management services56 54 51 2 5 International fees32 33 28 (1)(2)Factoring commissions17 20 17 (3)(13)Cardholder services, net41 41 40 — — Merchant services, net14 13 12 1 3 Insurance commissions14 13 15 1 9 Realized gain on sale of investment securities, net— 2 — (2)(100)Fair value adjustment on marketable equity securities, net(5)10 (4)(15)(150)Gain on sale of leasing equipment, net5 11 10 (6)(51)Loss on extinguishment of debt— — (2)— — Other noninterest income  14 50 38 (36)(73)Total noninterest income$635 $699 $627 $(64)(9)

The above table includes the amounts for the components of noninterest income for the Current Quarter, Linked Quarter, and Prior Year Quarter, as well as the dollar and percentage increases or decreases for the Current Quarter compared to the Linked Quarter. 

Noninterest income for the Current Quarter was $635 million, a decrease of $64 million or 9% from $699 million for the Linked Quarter, mainly due to the following:

•The decrease in other noninterest income of $36 million was mainly attributable to the negative impacts from fair value changes in customer derivative positions driven by changes in the rate environment, as well as the write-down of a held for sale asset.

•The decrease in the fair value adjustment on marketable equity securities of $15 million reflects lower market prices of the underlying securities.

•The decrease in the gain on sale of leasing equipment of $6 million was mostly due to lower volumes of