Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 37

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 37
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 31, 2025June 30, 2024June 30, 2025June 30, 2024Net interest income$490 $493 $553 $(3)(1)%$983 $1,076 $(93)(9)%Total noninterest income130 132 134 (2)(1)262 268 (6)(2)Total revenue620 625 687 (5)(1)1,245 1,344 (99)(7)Personnel cost110 114 123 (4)(4)224 242 (18)(8)All other noninterest expense272 265 246 7 3 537 493 44 9 Total noninterest expense382 379 369 3 1 761 735 26 4 Provision for credit losses55 23 19 32 135 78 42 36 87 Income before income taxes183 223 299 (40)(18)406 567 (161)(29)Income tax expense47 57 85 (10)(19)104 160 (56)(35)Net income$136 $166 $214 $(30)(18)%$302 $407 $(105)(26)%PPNR (1)$238 $246 $318 $(8)(4)%$484 $609 $(125)(21)%Select Period End BalancesLoans and leases$37,529 $37,818 $39,117 $(289)(1)%$37,529 $39,117 $(1,588)(4)%Deposits37,798 37,020 35,773 778 2 37,798 35,773 2,025 6 

(1)    PPNR is a non-GAAP measure. 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.

SVB Commercial segment net income for the Current Quarter decreased $30 million compared to the Linked Quarter, mainly due to higher provision for credit losses, partially offset by lower income tax expense. 

•The $32 million increase in the provision for credit losses was largely due to higher specific reserves for individually evaluated credits in the investor dependent loan class, partially offset by lower net charge-offs and a modest shift in our weighting from the downside