Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 172

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 172
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 expense and higher noninterest income as further discussed below. 

•NII for the Current YTD was $3.36 billion, a decrease of $280 million or 8% from $3.64 billion for the Prior YTD. NIM for the Current YTD was 3.26%, a decrease of 40 bps from 3.66% for the Prior YTD. The decreases in NII and NIM were mainly due to lower yields on loans and interest-earning deposits at banks, a mix shift from interest-earning deposits at banks to investment securities, a higher average balance of interest-bearing deposits, and a higher average balance and rate paid for borrowings, partially offset by a decline in the rate paid on interest-bearing deposits and a higher average balance of loans. 

◦PAA for the Current YTD was $142 million, a decrease of $156 million from $298 million for the Prior YTD. NIM, excluding PAA,(1) for the Current YTD was 3.13%, a decrease of 23 bps from 3.36% for the Prior YTD.  

•Noninterest income for the Current YTD was $1.31 billion, an increase of $47 million from $1.27 billion for the Prior YTD, mostly due to increases in rental income on operating lease equipment of $28 million, lending-related fees of $13 million, wealth management services of $8 million, and international fees of $8 million, partially offset by a decrease in other noninterest income of $21 million.

•Noninterest expense for the Current YTD was $2.99 billion, an increase of $231 million or 8% from $2.76 billion for the Prior YTD, mostly due to increases in personnel cost of $139 million, marketing expense of $32 million, equipment expense of $27 million, third-party processing fees of $8 million, and other noninterest expense of $32 million, partially offset by a decrease in acquisition-related expenses of $22 million.

•Provision for credit losses for the Current YTD was $269 million, an increase of $110 million from $159 million for the Prior YTD.  

◦The provision for loan and lease losses for the Current YTD was $259 million, an increase of $71 million from $188 million for the Prior YTD, mainly attributable to a $43 million decline in the ALLL reserve release