Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 236

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 236
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All other noninterest expense was down. Refer to the “Noninterest Expense” section of this MD&A.

The provision for credit losses decreased $20 million, which included lower specific reserves in the investor dependent portfolios.

The $444 million increase in loans from December 31, 2024 was attributed to the global fund banking portfolio, partially offset by declines in investor dependent loans as payments exceeded new originations. 

Deposits increased $496 million from December 31, 2024, mainly due to growth in noninterest-bearing deposits and money market deposits, partially offset by a decline in interest-bearing checking deposits. During the Current Quarter we made a strategic decision to move $2.4 billion in select cash sweep deposits to off-balance sheet client funds. 

72

Rail 

Table 17

Rail: Financial Data

dollars in millionsThree Months EndedEarnings SummaryMarch 31, 2025December 31, 2024March 31, 2024Net interest expense$(52)$(50)$(43)Noninterest IncomeRental income on operating lease equipment214 217 198 Less: depreciation on operating lease equipment54 57 50 Less: maintenance and other operating lease expenses58 55 45 Net rental income on operating lease equipment (1)102 105 103 All other noninterest income2 6 4 Total noninterest income (2)216 223 202 Noninterest income, net of depreciation and maintenance (1)104 111 107 Total revenue164 173 159 Revenue, net of depreciation and maintenance (1)52 61 64 Noninterest ExpensePersonnel cost8 5 8 All other noninterest expense14 16 14 Total noninterest expense (2)134 133 117 Noninterest expense, net of depreciation and maintenance (1)22 21 22 Provision for credit losses— — — Income before income taxes30 40 42 Income tax expense8 9 11 Net income$22 $31 $31 PPNR (1)30 40 42 Select Period End BalancesLoans and leases$62 $62 $62 Operating lease equipment, net8,640 8,573 8,048 Deposits12 18 14 

(1)    Net rental income on operating lease equipment, noninterest income, net of depreciation and maintenance, noninterest