Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 100

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 100
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 $1 $270 $20,866 $(44)$21,986 Balance at December 31, 2023$881 $14 $1 $4,108 $16,742 $(491)$21,255 Net income— — — — 2,077 — 2,077 Other comprehensive income, net of tax— — — — — 332 332 Stock based compensation— — — (13)— — (13)Repurchased 353,058 shares of Class A common stock— (1)— (706)— — (707)Cash dividends declared ($4.92 per common share):Class A common stock— — — — (65)— (65)Class B common stock— — — — (5)— (5)Preferred stock dividends declared:Series A— — — — (14)— (14)Series B— — — — (24)— (24)Series C— — — — (8)— (8)Balance at September 30, 2024$881 $13 $1 $3,389 $18,703 $(159)$22,828 

See accompanying Notes to the Unaudited Consolidated Financial Statements.

8

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

                                                                                                                                                                                                                                                             Nine Months Ended September 30,dollars in millions20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income$1,626 $2,077 Adjustments to reconcile net income to cash provided by operating activities:Provision for credit losses460 276 Deferred tax benefit(104)(127)Depreciation, amortization, and accretion, net284 36 Realized gain on sale of investment securities, net— (4)Fair value adjustment on marketable equity securities, net(10)(3)Gain on sale of loans, net(12)(7)Gain on sale of operating lease equipment, net(16)(19)Loss on sale of premises and equipment, net— 1 Gain on other real