Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 128

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 128
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 — — (11)— (11)Balance at December 31, 2023$881 $14 $1 $4,108 $16,742 $(491)$21,255 Net income— — — — 2,777 — 2,777 Other comprehensive income, net of tax— — — — — 46 46 Stock based compensation— — — (12)— — (12)Repurchased 814,641 shares of Class A common stock— (1)— (1,679)— — (1,680)Cash dividends declared ($6.87 per common share):Class A common stock— — — — (91)— (91)Class B common stock— — — — (6)— (6)Preferred stock dividends declared:Series A— — — — (19)— (19)Series B— — — — (31)— (31)Series C— — — — (11)— (11)Balance at December 31, 2024$881 $13 $1 $2,417 $19,361 $(445)$22,228 

See accompanying Notes to the Consolidated Financial Statements.

104

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Cash Flows

                                                                                                                                                                                                                                                             Year Ended December 31,dollars in millions202420232022CASH FLOWS FROM OPERATING ACTIVITIESNet income$2,777 $11,466 $1,098 Adjustments to reconcile net income to cash provided by operating activities:Provision for credit losses431 1,375 645 Deferred tax expense (benefit)6 (165)206 Depreciation, amortization, and accretion, net130 (57)533 Stock based compensation expense— 5 19 Realized (gain) loss on sale of investment securities, net(6)26 — Fair value adjustment on marketable equity securities, net(13)11 3 (Gain) loss on sale of loans, net(7)2 (22)