Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 4

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 4
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 common stock— — — — (2)— (2)Preferred stock dividends declared:Series A— — — — (5)— (5)Series B— — — — (7)— (7)Series C— — — — (3)— (3)Balance at March 31, 2025$881 $12 $1 $1,798 $19,802 $(199)$22,295 Balance at December 31, 2023$881 $14 $1 $4,108 $16,742 $(491)$21,255 Net income— — — — 731 — 731 Other comprehensive loss, net of tax— — — — — (91)(91)Stock based compensation— — — (9)— — (9)Cash dividends declared ($1.64 per common share):Class A common stock— — — — (22)— (22)Class B common stock— — — — (1)— (1)Preferred stock dividends declared:Series A— — — — (4)— (4)Series B— — — — (8)— (8)Series C— — — — (3)— (3)Balance at March 31, 2024$881 $14 $1 $4,099 $17,435 $(582)$21,848 

See accompanying Notes to the Unaudited Consolidated Financial Statements.

7

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

                                                                                                                                                                                                                                                             Three Months Ended March 31,dollars in millions20252024CASH FLOWS FROM OPERATING ACTIVITIESNet income$483 $731 Adjustments to reconcile net income to cash provided by operating activities:Provision for credit losses154 64 Deferred tax (benefit) expense(40)1 Depreciation, amortization, and accretion, net93 (12)Fair value adjustment on marketable equity securities, net5 4