Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 177

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 177
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 31, 2025Three Months Ended March 31, 2024CommercialConsumerSVBTotalCommercialConsumerSVBTotalBalance at beginning of period$1,063 $158 $455 $1,676 $1,126 $166 $455 $1,747 Provision (benefit) for loan and lease losses105 10 33 148 59 (6)40 93 Charge-offs(105)(8)(54)(167)(75)(7)(46)(128)Recoveries15 3 5 23 10 2 13 25 Balance at end of period$1,078 $163 $439 $1,680 $1,120 $155 $462 $1,737 The increase in the ALLL at March 31, 2025 compared to December 31, 2024 was primarily due to modest deterioration in the macroeconomic forecast, as well as increases in loan volume, partially offset by the result of a mix shift from the investor dependent portfolio to the global fund banking portfolio, which has a lower loss rate relative to our other loan portfolios, and lower specific reserves for individually evaluated loans.  The following table presents the components of the provision for credit losses:Provision for Credit Lossesdollars in millionsThree Months Ended March 31,20252024Provision for loan and lease losses$148 $93 Provision (benefit) for off-balance sheet credit exposure6 (29)Provision for credit losses$154 $64 

NOTE 6 — LEASESLesseeBancShares’ leases primarily include administrative offices and bank locations. Substantially all of our lease liabilities relate to United States real estate leases under operating lease arrangements. Our real estate leases have remaining lease terms of up to 33 years. Our lease terms may include options to extend or terminate the lease, and our operating leases have renewal terms that can extend from 1 to 25 years. The options are included in the lease term when it is determined that it is reasonably certain the option will be exercised. The following table presents supplemental balance sheet information and remaining weighted average lease terms and discount rates: Supplemental Lease Informationdollars in millionsClassificationMarch 31, 2025December 31, 2024Lease assets:Operating lease ROU assetsOther assets$300 $316 Finance leasesPremises and equipment35 15 Total lease assets$