Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 97

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 97
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 — (119)(119)Stock based compensation— — — (9)— — (9)Cash dividends declared ($3.28 per common share):Class A common stock— — — — (44)— (44)Class B common stock— — — — (3)— (3)Preferred stock dividends declared:Series A— — — — (9)— (9)Series B— — — — (16)— (16)Series C— — — — (6)— (6)Balance at June 30, 2024$881 $14 $1 $4,099 $18,102 $(610)$22,487 

See accompanying Notes to the Unaudited Consolidated Financial Statements.

7

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

                                                                                                                                                                                                                                                             Six Months Ended June 30,dollars in millions20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income$1,058 $1,438 Adjustments to reconcile net income to cash provided by operating activities:Provision for credit losses269 159 Deferred tax benefit(74)(183)Depreciation, amortization, and accretion, net193 (6)Fair value adjustment on marketable equity securities, net3 6 Gain on sale of loans, net(4)(3)Gain on sale of operating lease equipment, net(13)(14)Loss (gain) on other real estate owned, net7 (3)Loss on extinguishment of debt— 2 Origination of loans held for sale(678)(547)Proceeds from sale of loans held for sale771 535 Impairment of premises and equipment5 — Net change in other assets(241)(268)Net change in other liabilities(290)(224)Other operating activities(49)(14)Net cash provided by operating activities957 878 CASH FLOWS FROM INVESTING ACTIVITIESNet (increase) decrease in interest-earning deposits at banks(4,820)8,248 Purchases of investment securities available for sale(2,910)(