Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 368

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 368
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 of $10 million is summarized in Table 13 below.

•The increase in maintenance and other operating lease expenses of $12 million is discussed in the “Results by Segment—Rail” section of this MD&A. 

•The increase in personnel cost of $7 million was due to an additional payroll day and net staff additions partially offset by a decline in temporary contractor costs.

•The increase in equipment expense of $6 million was mainly due to higher software-related costs.

Noninterest expense for the current YTD was $4.48 billion, an increase of $266 million or 6%, from $4.22 billion for the prior YTD as further discussed below:

•The increase in personnel cost of $168 million was mainly due to net staff additions, annual merit increases, and promotions.

•The increase in marketing expense of $45 million was primarily due to marketing for Direct Bank deposits.

•The increase in equipment expense of $36 million was mostly due to higher software-related costs, including accelerated depreciation.

•The increase in other noninterest expense of $30 million was largely due to the linked quarter accruals of $15 million discussed above.

•The increase of $20 million in third-party processing fees was due to higher transaction volume and additional services.

•The increase of $16 million in maintenance and other operating lease expenses are discussed in the “Results by Segment—Rail” section of this MD&A. 

•The decrease in acquisition-related expenses of $40 million is summarized in Table 13 below. 

•The decrease of $10 million in professional fees was due to lower consulting services and legal fees.

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Table 13Acquisition-related Expenses

dollars in millionsThree Months EndedNine Months EndedSeptember 30, 2025June 30,2025September 30, 2024September 30, 2025September 30, 2024Personnel cost$12 $15 $16 $42 $57 Professional fees15 20 28 61 77 Other acquisition-related expense1 3 2 5 14 Total acquisition-related expense$28 $38 $46 $108 $148 

Acquisition-related personnel cost primarily includes severance and retention costs for employees associated with business combinations. These amounts are recognized over the requisite service period, if any.

Acquisition-related professional fees mainly include consulting, legal and accounting costs associated with business combinations and the related integration, optimization, and