Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 18

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 18
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1.38 billion for the Prior Year. The decrease was primarily related to the Day 2 Provision for Credit Losses of $716 million in the Prior Year. The decrease in the provision for credit losses was also due to the ALLL decrease in the Current Year, mainly due to changes in loan mix, improvements in the macroeconomic forecast, and decreases in specific reserves for individually evaluated loans. The mix shift was mostly within SVB loans and reflected increases in the global fund banking portfolio, which has a lower loss rate relative to the rest of our portfolios, and decreases in the investor dependent portfolios, which have higher loss rates. These decreases were partially offset by increases related to loan growth and a $20 million loan loss reserve for Helene.

The ALLL and net charge-offs are further discussed in the “Risk Management—Credit Risk—Allowance for Loan and Lease Losses” and “—Credit Metrics” in this MD&A and in Note 5—Allowance for Loan and Lease Losses.

Table 9

Provision for Credit Losses

dollars in millionsYear Ended December 31,202420232022Day 2 Provision for Loan and Lease Losses$— $462 454 Provision for loan and lease losses469 703 97 Total provision for loan and lease losses469 1,165 551 Day 2 Provision for Off-Balance Sheet Credit Exposure— 254 59 (Benefit) provision for off-balance sheet credit exposure(38)(44)35 Total (benefit) provision for off-balance sheet credit exposure(38)210 94 Provision for credit losses$431 $1,375 $645 

59

Noninterest Income

Noninterest income is an essential part of our total revenue. The primary sources of noninterest income consist of rental income on operating lease equipment, lending-related fees, deposit fees and service charges, client investment fees, wealth management services, international fees, factoring commissions, cardholder and merchant services, and insurance commissions. Descriptions of noninterest income are included in the revenue recognition section in Note 1—Significant Accounting Policies and Basis of Presentation. 

Table 10

Noninterest Income

dollars in millionsYear Ended December 31,202420232022Rental income on operating lease equipment$1,048 $971 $864 Other noninterest income:Lending-related fees257 218 103 Deposit fees and service charges230 200 142 Client