Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 2

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 2
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5 and December 31, 2024; 12,409,753 and 12,712,436 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively)12 13 Class B - $1 par value (2,000,000 shares authorized and 1,005,185 shares issued and outstanding at March 31, 2025 and December 31, 2024)1 1 Additional paid in capital1,798 2,417 Retained earnings19,802 19,361 Accumulated other comprehensive loss(199)(445)Total stockholders’ equity22,295 22,228 Total liabilities and stockholders’ equity$228,822 $223,720 

See accompanying Notes to the Unaudited Consolidated Financial Statements.

4

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Income (Unaudited)

Three Months Ended March 31,dollars in millions, except share and per share data20252024Interest incomeInterest and fees on loans$2,236 $2,354 Interest on investment securities414 282 Interest on deposits at banks245 448 Total interest income2,895 3,084 Interest expenseDeposits893 928 Borrowings339 339 Total interest expense1,232 1,267 Net interest income1,663 1,817 Provision for credit losses154 64 Net interest income after provision for credit losses1,509 1,753 Noninterest incomeRental income on operating lease equipment270 255 Lending-related fees66 59 Deposit fees and service charges58 58 Client investment fees53 50 Wealth management services56 51 International fees32 28 Factoring commissions17 17 Cardholder services, net41 40 Merchant services, net14 12 Insurance commissions14 15 Fair value adjustment on marketable equity securities, net(5)(4)Gain on sale of leasing equipment, net5 10 Loss on extinguishment of debt— (2)Other noninterest income  14 38 Total noninterest income635 627 Noninterest expenseDepreciation on operating lease equipment98 96 Maintenance and other operating lease expenses58 45 Personnel cost818 744 Net occupancy expense58 62 Equipment expense136 114