Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 130

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 130
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 beyond the initial contractual term. Our leases typically do not include early termination options. Continued rent payments are due if leased equipment is not returned at the end of the lease.The table that follows presents lease income related to BancShares’ operating and finance leases:Lease Incomedollars in millionsThree Months Ended June 30,Six Months Ended June 30,2025202420252024Lease income – operating leases$258 $241 $512 $478 Variable lease income – operating leases (1)14 18 30 36 Rental income on operating leases272 259 542 514 Interest income – sales type and direct financing leases44 44 87 87 Variable lease income included in other noninterest income (2)16 15 30 31 Interest income – leveraged leases1 1 2 2 Total lease income$333 $319 $661 $634 (1)     Primarily includes per diem railcar operating lease rental income earned on a time or mileage usage basis. 

(2) Includes revenue related to insurance coverage on leased equipment and leased equipment property tax reimbursements due from customers. 

 NOTE 7 — GOODWILL AND CORE DEPOSIT INTANGIBLES

GoodwillBancShares had goodwill of $346 million at June 30, 2025 and December 31, 2024. There was no goodwill impairment during the six months ended June 30, 2025 or 2024. Goodwill relates to the General Bank reporting segment. Core Deposit IntangiblesCore deposit intangibles represent the estimated fair value of core deposits and other customer relationships acquired. Core deposit intangibles are being amortized over their estimated useful lives. The following tables summarize the activity for core deposit intangibles:Core Deposit IntangiblesSix Months Ended June 30,dollars in millions2025Balance at beginning of period, net of accumulated amortization $249 Less: amortization for the period28 Balance at end of period, net of accumulated amortization$221 

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The following table summarizes the accumulated amortization balance for core deposit intangibles:Core Deposit Intangible Accumulated Amortizationdollars in millionsJune 30, 2025December 31, 2024Gross balance$501 $501 Less: accumulated amortization280 252 Balance, net of accumulated amortization$221 $249 The following table summarizes the expected amort