Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 4

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 4
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 Accounting Policies and Basis of Presentation. We transferred certain components from the SVB Commercial and General Bank segments to the Commercial Bank segment and modified our segment expense allocation methodology. Segment disclosures for 2024 periods included in this Form 10-Q were recast to reflect the segment reporting updates. Refer to Note 17—Segment Information for descriptions of segment products and services and the “Results by Segment” section of this MD&A. 

Recent Economic, Industry and Regulatory Developments

Entering 2025, the Federal Open Market Committee (“FOMC”) had reduced the benchmark federal funds rate to a range between 4.25% - 4.50%. In its statement in July 2025, the FOMC cited that uncertainty about the economic outlook remains elevated in its decision to maintain the range for the benchmark federal funds rate. 

The Trump administration has imposed, modified and paused tariffs multiple times since the beginning of 2025. Actual and threatened changes to U.S. trade policies have resulted in some countries enacting retaliatory measures. The imposition of increased tariffs and trade restrictions has contributed to uncertainty and volatility in the global financial markets. The current tariff environment is dynamic, and we are closely monitoring both the impact and potential impact of such measures on our business, our customers and on overall economic conditions in the United States. 

On July 4, 2025, President Trump signed into law H.R. 1, referred to as the One Big Beautiful Bill Act (“OBBBA”). The OBBBA contains several provisions that impact corporate taxation. BancShares is in the process of evaluating the impact of the OBBBA on its financial statements.  

Financial Performance Summary

The following tables in this MD&A include financial data for the three months ended June 30, 2025 (the “Current Quarter”), March 31, 2025 (the “Linked Quarter”) and June 30, 2024 (the “Prior Year Quarter”), along with the six months ended June 30, 2025 (“Current YTD”), and the six months ended June 30, 2024 (“Prior YTD”). In accordance with Item 303(c) of Regulation S-K, we focus our discussion of quarterly results of operations on changes compared to the Linked Quarter for the narrative discussion and analysis as we believe this provides investors and other users of our data with the most relevant information. 

We focus the discussion of our financial position by comparing balances as of June 30, 2025 to December 31, 2024