Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 311

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 311
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 rail equipment sales. 

•The decrease in factoring commissions of $3 million was primarily due to a decline in factoring volume.

•The decrease in rental income on operating lease equipment of $2 million was mainly the result of the Linked Quarter including charges that are assessed annually, which were partially offset by strong repricing of renewed equipment during the Current Quarter. Refer to the Rail segment discussion in the “Results by Segment” section of this MD&A for further details. 

67

Noninterest Expense

Noninterest expense includes the following primary expense categories, with the balance in other noninterest expense. 

Table 11

Noninterest Expense

dollars in millionsThree Months EndedIncrease (Decrease) from Linked QuarterMarch 31, 2025December 31, 2024March 31, 2024Depreciation on operating lease equipment$98 $101 $96 $(3)(3)%Maintenance and other operating lease expenses58 55 45 3 5 Personnel cost818 801 744 17 2 Net occupancy expense58 60 62 (2)(4)Equipment expense136 136 114 — — Professional fees25 30 25 (5)(16)Third-party processing fees63 57 60 6 10 FDIC insurance expense38 33 41 5 18 Marketing expense32 24 14 8 31 Acquisition-related expenses42 62 58 (20)(33)Intangible asset amortization15 16 17 (1)(2)Other noninterest expense110 142 100 (32)(22)Total noninterest expense$1,493 $1,517 $1,376 $(24)(2)

The above table includes the amounts for the components of noninterest expense 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 expense for the Current Quarter was $1.49 billion, a decrease of $24 million or 2% from $1.52 billion for the Linked Quarter, mainly due to the following:

•The decrease in other noninterest expense of $32 million reflected declines in capitalized software impairment, state related non-income taxes, and charitable donations to support relief efforts for recent natural disasters. 

•The decrease in acquisition-related expenses of $20 million is summarized in the