Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 23

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 23
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 to our segment reporting during the first quarter of 2024 as further discussed in Note 1—Significant Accounting Policies and Basis of Presentation. Segment disclosures for 2023 and 2022 periods included in this Form 10-K were recast to reflect the segment reporting changes.

BancShares’ segments include the General Bank, the Commercial Bank, SVB Commercial, and Rail. All other financial information not included in the segments is reported in the Corporate section of the segment disclosures. Certain noninterest expenses are directly incurred by a segment, while others are not. Noninterest expenses not directly incurred by a segment are included in Corporate unless allocated to a segment (“Allocated Expenses”). Under our segment expense allocation methodology, Allocated Expenses increase noninterest expense of the applicable segment(s), with an offsetting decrease to Corporate noninterest expense. “All other noninterest expense” in the segment reporting tables below are presented net of Allocated Expenses, resulting in a reduction to expense (or “Contra Expense”) for Corporate. Refer to Note 22—Segment Information for descriptions of segment products and services.

General Bank

Table 14

General Bank: Financial Data

dollars in millionsAs of and for the Year Ended December 31,Earnings Summary202420232022Net interest income$2,980 $2,580 $1,830 Noninterest income612 526 483 Total revenue3,592 3,106 2,313 Personnel cost787 725 549 All other noninterest expense1,244 1,114 909 Total noninterest expense2,031 1,839 1,458 Provision for credit losses153 77 11 Income before income taxes1,408 1,190 844 Income tax expense362 319 214 Net income$1,046 $871 $630 Pre-provision net revenue (“PPNR”) (1)$1,561 $1,267 $855 Select Period End BalancesLoans and leases$66,768 $62,832 $43,212 Deposits73,062 68,729 67,894 

(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.

General Bank segment net income for the Current Year increased $175 million compared to the Prior Year.