Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 205

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 205
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 — — — — — — — — Income (loss) income before income taxes18 (1)148 19 NM17 402 (385)(96)Income tax (benefit) expense(6)— 43 (6)NM(6)109 (115)(106)Net income (loss)$24 $(1)$105 $25 NM$23 $293 $(270)(92)%PPNR (1)$18 $(1)$148 $19 NM$17 $402 $(385)(96)%Select Period End BalancesDeposits45,736 44,990 40,741 746 2 45,736 40,741 4,995 12 

(1)    PPNR is a non-GAAP measure. Refer to the “Non-GAAP Financial Measurements” section of this MD&A for a reconciliation from the most comparable GAAP measure to the non-GAAP measure.

NM - not meaningful

Corporate net income increased $25 million compared to the Linked Quarter, mainly due to higher noninterest income and lower noninterest expense. 

•The $13 million increase in noninterest income was largely due to a favorable change in the fair value of marketable equity securities.

•The $13 million net decrease in all other noninterest expenses is spread amongst various accounts, including Allocated Expenses. 

Corporate deposits were $45.74 billion at June 30, 2025, an increase of $746 million compared to $44.99 billion at March 31, 2025, mainly due to growth in the Direct Bank. Total deposits in Corporate primarily include $45.11 billion of Direct Bank deposits, with the remaining balance consisting of brokered and other deposits. 

Corporate net income for the Current YTD decreased $270 million compared to the Prior YTD, primarily reflecting lower NII and higher personnel cost, partially offset by lower all other noninterest expense, acquisition-related expenses and income tax expense. 

•The $349 million decrease in NII was mainly due to the unfavorable impacts of a lower average balance of interest-earning deposits at banks, a higher average balance of interest-bearing deposits and lower loan PAA, partially offset by the favorable impacts of a higher average balance of investment securities and a lower rate paid on interest-bearing deposits.

•The $121 million increase in personnel cost was mainly due to