Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 49

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 49
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 is aligned with the Federal Reserve and FDIC guidance on CRE and includes the following: construction loans, loans where the primary repayment is from third party rental income, and loans not secured by real estate but for the purpose of real estate. This table excludes the owner occupied commercial mortgage loan class.

79

Evolving macroeconomic and social conditions (including the shift to more hybrid work arrangements) may result in changes for general office demand moving forward. Select metrics specific to our general office loan portfolio are as follows:

Table 34

Select General Office Loan Metrics

dollars in millionsDecember 31, 2024December 31, 2023% of total loans and leases1.77  %2.20  %% of CRE loans10.81  %13.77  %Average loan balance$2 $2 Net charge-offs (YTD annualized %)3.95  %3.56  %Delinquencies as a % of general office loans10.92  %13.56  %Non-performing loans as a % of general office loans12.10  %11.38  %ALLL ratio4.59  %4.77  %

Concentration Risk

We strive to minimize the risks associated with large concentrations within specific geographic areas, collateral types or industries. Despite our focus on diversification, several characteristics of our loan portfolio subject us to risk, such as our concentrations of real estate secured loans, revolving mortgage loans and healthcare-related loans. Additionally, SVB portfolio loans are concentrated in loans with large balances and loans in certain industries and customer groups, including private equity and venture capital.

Loan concentration data regarding our commercial, consumer, and SVB loan portfolios is summarized below.

Commercial Loan Concentrations

Geographic Concentrations 

The following table summarizes state concentrations of 5.0% or greater of our loans. Data is based on obligor location.

Table 35

Commercial Loans and Leases - Geography 

dollars in millionsDecember 31, 2024December 31, 2023December 31, 2022StateCalifornia$15,119 21.1 %$13,824 20.9 %$9,226 17.3 %North Carolina10,709 14.9 9,831 14.8 8,699 16.3 Texas4,487 6.3 4,453 6.7 3