Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 233

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 233
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 All other noninterest expense351 353 321 Total noninterest expense565 543 528 Provision for credit losses46 22 21 Income before income taxes341 378 280 Income tax expense88 92 79 Net income$253 $286 $201 Pre-provision net revenue (“PPNR”) (1)387 400 301 Select Period End BalancesLoans and leases$64,847 $64,887 $62,015 Deposits74,309 72,956 70,908 

(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 Quarter decreased $33 million compared to the Linked Quarter. PPNR decreased $13 million from the Linked Quarter. The decreases in net income and PPNR included higher personnel costs, partially offset by higher NII. 

The $11 million increase in NII reflected lower deposit costs, which offset deposit growth and lower income on loans. 

Personnel cost increased $24 million mainly due to seasonal increases in employee benefits and payroll taxes. 

The $24 million increase in provision for credit losses in the Current Quarter was mainly due to a reserve build, including higher specific reserves, which was partially offset by lower net charge-offs. 

The $40 million decrease in loans and leases compared to December 31, 2024 was mainly due to lower mortgage loans and lower commercial and business loans in our Branch Network, which offset modest growth in Wealth.   

Deposits in the General Bank segment primarily include deposits from the Branch Network, as well as Wealth and Community Association Banking (“CAB”) channels. The $1.35 billion increase in deposits compared to December 31, 2024 was primarily in money market deposits in the Branch Network, along with higher CAB deposits, partially offset by lower time deposits.

70

Commercial Bank 

Table 15

Commercial Bank: Financial Data

dollars in millionsThree Months EndedEarnings SummaryMarch 31, 2025December 31, 2024March 31, 2024Net interest income$293 $307 $300 Noninterest IncomeRental income on operating lease equipment56 55 57 Less: depreciation on operating lease equipment44 44 46 Net rental income on operating lease equipment