Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 357

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 357
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5 17 55 49 6 14 Third-party processing fees63 63 58 — 1 126 118 8 7 FDIC insurance expense38 38 33 — — 76 74 2 3 Marketing expense32 32 18 — 1 64 32 32 102 Acquisition-related expenses38 42 44 (4)(10)80 102 (22)(21)Intangible asset amortization13 15 15 (2)(12)28 32 (4)(12)Other noninterest expense129 110 107 19 17 239 207 32 15 Total noninterest expense$1,500 $1,493 $1,386 $7 1 %$2,993 $2,762 $231 8 %

Noninterest expense for the Current Quarter was $1.50 billion, an increase of $7 million or 1%, from $1.49 billion for the Linked Quarter as further discussed below:

•The increase in other noninterest expense of $19 million was mainly due to accruals totaling $15 million resulting from a vendor dispute and an increase in litigation reserves. 

•The increase in professional fees of $5 million was mostly related to higher consulting costs.

•The decrease in personnel cost of $8 million was mainly due to seasonal increases in the Linked Quarter associated with employee benefits and payroll taxes, partially offset by the impact of annual merit increases being included for the entire Current Quarter.

•The decrease in equipment expense of $5 million was mainly due to lower software-related costs, mostly related to accelerated depreciation in the Linked Quarter.

•The decrease in acquisition-related expenses of $4 million is summarized in the table below.

Noninterest expense for the Current YTD was $2.99 billion, an increase of $231 million or 8% from $2.76 billion for the Prior YTD as further discussed below:

•The increase in personnel cost of $139 million was mainly due to annual merit increases and promotions, as well as net staff additions.

•The increase in marketing expense of $32 million was primarily due to marketing for Direct Bank deposits.

•The increase in other noninterest expense of $32 million was due to increases in various noninterest expense line items, as well as the other noninterest expense accruals discussed