Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 373

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 373
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 net of depreciation (1)223223218— — 677630477 Provision for credit losses168 47 11 121 257 300 70 230 330 Income before income taxes24 137 165 (113)(82)219 486 (267)(55)Income tax expense6 35 41 (29)(83)56 127 (71)(56)Net income$18 $102 $124 $(84)(82)$163 $359 $(196)(54)PPNR (1)$192 $184 $176 $8 5 %$519 $556 $(37)(7)%Select Period End BalancesLoans and leases$38,841 $38,691 $37,281 $150 — %$38,841 $37,281 $1,560 4 %Operating lease equipment, net737 750 767 (13)(2)737 767 (30)(4)Deposits2,978 2,899 3,126 79 3 2,978 3,126 (148)(5)

(1)    Net rental income on operating lease equipment; noninterest income, net of depreciation; revenue, net of depreciation; noninterest expense, net of depreciation; and PPNR are non-GAAP measures. 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. 

(2) Total noninterest income includes rental income on operating lease equipment and all other noninterest income. 

(3) Total noninterest expense includes depreciation on operating lease equipment. 

Commercial Bank segment net income for the current quarter decreased $84 million compared to the linked quarter, mostly due to a higher provision for credit losses. 

•The $121 million increase in provision for credit losses was mainly due to higher net charge-offs compared to the linked quarter, including an $82 million charge-off on a single supply chain finance client.

•The $29 million decrease in income tax expense reflected lower income before income taxes.

Commercial Bank segment loans were $38.84 billion at September 30, 2025, an increase of $150 million compared to $38.69 billion at June 30, 2025, primarily due to growth in the Working Capital Solutions portfolio, partially offset by a decline in