Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 358

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 358
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463 440 Revenue, net of depreciation (non-GAAP)c-a374 419 394 Total noninterest expense (GAAP)d275 263 260 Noninterest expense, net of depreciation (non-GAAP)d-a231 219 214 

Table 53

Rail Segment  

dollars in millionsThree Months EndedMarch 31, 2025December 31, 2024March 31, 2024Rental income on operating leases (GAAP)$214 $217 $198 Less: depreciation on operating lease equipmenta54 57 50 Less: maintenance and other operating lease expensesb58 55 45 Net rental income on operating lease equipment (non-GAAP)$102 $105 $103 Total noninterest income (GAAP)c$216 $223 $202 Noninterest income, net of depreciation and maintenance (non-GAAP)c-a-b104 111 107 Total revenue (GAAP)d164 173 159 Revenue, net of depreciation and maintenance (non-GAAP)d-a-b52 61 64 Total noninterest expense (GAAP)e134 133 117 Noninterest expense, net of depreciation and maintenance (non-GAAP)e-a-b22 21 22 

99

NII, NIM, and Interest and Fees on Loans, Excluding PAA

NII and NIM, excluding PAA, and interest and fees on loans, excluding loan PAA are meaningful metrics as they allow management to analyze NII, NIM and loan interest income trends more directly related to the rates of the underlying interest-earning assets and interest-bearing liabilities. Loan PAA is primarily related to the loan discount in the SVBB Acquisition. Other PAA is primarily related to the discount on the Purchase Money Note and the premium on deposits assumed in the merger with CIT Group Inc.

The following table reconciles NII to NII, excluding PAA, NIM to NIM, excluding PAA, and interest and fees on loans to interest and fees on loans, excluding loan PAA:

Table 54

NII, NIM, and Interest and Fees on Loans, Excluding PAA

dollars in millionsThree Months EndedMarch 31, 2025December 31, 2024March 31, 2024NII (GAAP)a$1,663 $1,709 $1,817 Loan PAAb84 90 163 Other P