Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 73

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 73
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 paused tariffs multiple times since the beginning of 2025. Actual and threatened changes to U.S. trade policies have resulted in some countries enacting retaliatory measures. The imposition of increased tariffs and trade restrictions has contributed to uncertainty and volatility in the global financial markets. The current tariff environment is dynamic, and we are closely monitoring both the impact and potential impact of such measures on our business, our customers and on overall economic conditions in the United States.

Financial Performance Summary

The following tables in this MD&A include financial data for the three months ended March 31, 2025 (the “Current Quarter”), December 31, 2024 (the “Linked Quarter”) and March 31, 2024 (the “Prior Year Quarter”). In accordance with Item 303(c) of Regulation S-K, we focus on changes compared to the Linked Quarter for the narrative discussion and analysis of our results of operations as we believe this provides investors and other users of our data with the most relevant information. 

We focus the discussion of our financial position by comparing balances as of March 31, 2025 to December 31, 2024. 

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The following table summarizes BancShares’ results:

Table 1

Selected Financial Data 

dollars in millions, except share dataThree Months EndedMarch 31, 2025December 31, 2024March 31, 2024Results of Operations:Interest income$2,895 $3,001 $3,084 Interest expense1,232 1,292 1,267 Net interest income1,663 1,709 1,817 Provision for credit losses154 155 64 Net interest income after provision for credit losses1,509 1,554 1,753 Noninterest income635 699 627 Noninterest expense1,493 1,517 1,376 Income before income taxes651 736 1,004 Income tax expense168 36 273 Net income483 700 731 Preferred stock dividends15 15 15 Net income available to common stockholders$468 $685 $716 Per Common Share Information:Weighted average common shares outstanding (diluted)13,575,231 13,927,887 14,536,442 Diluted earnings per common share$34.47 $49.21 $49.26 Key Performance Metrics:Return on average assets0.87 %1