Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 3

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 3
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Professional fees25 25 Third-party processing fees63 60 FDIC insurance expense38 41 Marketing expense32 14 Acquisition-related expenses42 58 Intangible asset amortization15 17 Other noninterest expense110 100 Total noninterest expense1,493 1,376 Income before income taxes651 1,004 Income tax expense168 273 Net income$483 $731 Preferred stock dividends15 15 Net income available to common stockholders$468 $716 Earnings per common shareBasic$34.47 $49.27 Diluted$34.47 $49.26 Weighted average common shares outstandingBasic13,575,23114,533,302Diluted13,575,23114,536,442

See accompanying Notes to the Unaudited Consolidated Financial Statements.

5

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Comprehensive Income (Unaudited)

Three Months Ended March 31,dollars in millions20252024Net income$483 $731 Other comprehensive income (loss), net of taxNet unrealized gain (loss) on securities available for sale239 (91)Net unrealized gain on cash flow hedge derivatives7 — Other comprehensive income (loss), net of tax$246 $(91)Total comprehensive income$729 $640 

See accompanying Notes to the Unaudited Consolidated Financial Statements.

6

First Citizens BancShares, Inc. and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)

dollars in millions, except per share dataPreferred StockClass A Common StockClass B Common StockAdditional Paid in CapitalRetained EarningsAccumulated Other Comprehensive Income (Loss)Total Stockholders' EquityBalance at December 31, 2024$881 $13 $1 $2,417 $19,361 $(445)$22,228 Net income— — — — 483 — 483 Other comprehensive income, net of tax— — — — — 246 246 Repurchased 302,683 shares of Class A common stock— (1)— (619)— — (620)Cash dividends declared ($1.95 per common share):Class A common stock— — — — (25)— (25)Class B