Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 37

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 37
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 these agreements and Note 9—Borrowings for the outstanding carrying value of the Purchase Money Note.

NOTE 5 — ALLOWANCE FOR LOAN AND LEASE LOSSESThe ALLL is reported as a separate line item on the Consolidated Balance Sheets, while the reserve for off-balance sheet credit exposure is included in other liabilities. The provision or benefit for credit losses related to (i) loans and leases (ii) off-balance sheet credit exposure, and (iii) investment securities available for sale, if any, is reported in the Consolidated Statements of Income as provision or benefit for credit losses. 

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The ALLL activity for loans and leases is summarized in the following table:Allowance for Loan and Lease Lossesdollars in millionsThree Months Ended March 31, 2025Three Months Ended March 31, 2024CommercialConsumerSVBTotalCommercialConsumerSVBTotalBalance at beginning of period$1,063 $158 $455 $1,676 $1,126 $166 $455 $1,747 Provision (benefit) for loan and lease losses105 10 33 148 59 (6)40 93 Charge-offs(105)(8)(54)(167)(75)(7)(46)(128)Recoveries15 3 5 23 10 2 13 25 Balance at end of period$1,078 $163 $439 $1,680 $1,120 $155 $462 $1,737 The increase in the ALLL at March 31, 2025 compared to December 31, 2024 was primarily due to modest deterioration in the macroeconomic forecast, as well as increases in loan volume, partially offset by the result of a mix shift from the investor dependent portfolio to the global fund banking portfolio, which has a lower loss rate relative to our other loan portfolios, and lower specific reserves for individually evaluated loans.  The following table presents the components of the provision for credit losses:Provision for Credit Lossesdollars in millionsThree Months Ended March 31,20252024Provision for loan and lease losses$148 $93 Provision (benefit) for off-balance sheet credit exposure6 (29)Provision for credit losses$154 $64 

NOTE 6 — LEASESLesseeBancShares’ leases primarily include administrative offices and bank locations. Substantially