Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 24

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 24
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illion for the Prior YTD, mainly due to lower yields and loan PAA, partially offset by the impact of a higher average balance. 

•Loan PAA was $159 million in the Current YTD, a decrease of $149 million from $308 million for the Prior YTD. 

•Interest and fees on loans, excluding loan PAA,(1) was $4.35 billion for the Current YTD, a decrease of $121 million from $4.47 billion for the Prior YTD.

◦Interest income on investment securities (including securities purchased under agreements to resell) for the Current YTD was $833 million, an increase of $221 million or 36% from $612 million for the Prior YTD. The increase was mainly due to a higher yield and average balance. 

◦Interest income on interest-earning deposits at banks for the Current YTD was $501 million, a decrease of $325 million or 39% from $826 million for the Prior YTD, due to a lower average balance and a decline in the federal funds rate. 

◦Interest expense on interest-bearing deposits for the Current YTD was $1.79 billion, a decrease of $116 million or 6% from $1.90 billion for the Prior YTD, as a lower rate paid was partially offset by the impact of a higher average balance. 

◦Interest expense on borrowings for the Current YTD was $695 million, an increase of $22 million or 3% from $673 million for the Prior YTD, primarily due to a higher average balance and rate paid as a result of the Linked Quarter Debt Issuances. 

•NIM for the Current YTD was 3.26%, a decrease of 40 bps from 3.66% for the Prior YTD. NIM compression was mainly due to the unfavorable impacts of lower yields on loans and interest-earning deposits at banks, a mix shift from interest-earning deposits at banks to investment securities, a higher average balance of interest-bearing deposits, lower PAA, and a higher average balance and rate paid on borrowings, partially offset by the favorable impacts of a decline in the rate paid on interest-bearing deposits and a higher average balance of loans. NIM, excluding PAA,(1) was 3.13% for the Current YTD, a decrease of 23 bps