Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 3

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 3
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 another for long-term debt requirements for banking organizations with $100 billion or more in total consolidated assets. We are in the process of evaluating the proposals and the potential impacts. However, if the long-term debt requirement NPR is finalized as proposed, we expect we would need to issue additional long-term debt to satisfy the requirements.

These NPRs are discussed above in Item 1. Business in the section entitled “Regulatory Considerations.”

Financial Performance Summary

The following tables in this MD&A include financial data as of and for the year ended December 31, 2024 (“Current Year”), December 31, 2023 (“Prior Year”) and December 31, 2022. The operations acquired in the SVBB Acquisition (the “Acquired SVBB Operations”) were included in our results of operations for all of the Current Year, but only from the SVBB Acquisition Date through December 31, 2023 (the “Partial Prior Year”). Certain Current Year comparisons to the Prior Year in this MD&A highlight the impact of including the Acquired SVBB Operations for the entire Current Year and only the Partial Prior Year (the “Timing of the SVBB Acquisition”). 

We primarily focus the discussion of our financial position by comparing balances as of December 31, 2024 to December 31, 2023, but the tables also provide December 31, 2022 balances. 

50

The following table summarizes BancShares’ results:

Table 1

Selected Financial Data 

dollars in millions, except share dataYear Ended December 31,202420232022Results of Operations:Interest income$12,353 $10,391 $3,413 Interest expense5,210 3,679 467 Net interest income7,143 6,712 2,946 Provision for credit losses431 1,375 645 Net interest income after provision for credit losses6,712 5,337 2,301 Noninterest income2,615 12,075 2,136 Noninterest expense5,735 5,335 3,075 Income before income taxes3,592 12,077 1,362 Income tax expense815 611 264 Net income2,777 11,466 1,098 Preferred stock dividends61 59 50 Net income available to common stockholders$2,716 $11,407 $1,048 Per Common Share Information:Weighted average common shares outstanding (