Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 155

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 155
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$(5)$12 Amounts reclassified from AOCI to earnings(4)1 (3)2 — 2 Interest and fees on loansOther comprehensive income on cash flow hedge derivatives$6 $(1)$5 $19 $(5)$14 Total other comprehensive income$540 $(139)$401 $450 $(118)$332 

49

NOTE 14 — EARNINGS PER COMMON SHAREThe following table sets forth the computation of the basic and diluted earnings per common share:Earnings per Common Share dollars in millions, except per share dataThree Months Ended September 30,Nine Months Ended September 30,2025202420252024Net income$568 $639 $1,626 $2,077 Preferred stock dividends14 15 43 46 Net income available to common stockholders$554 $624 $1,583 $2,031 Weighted average common shares outstandingBasic shares outstanding12,849,339 14,375,974 13,217,940 14,480,874 Stock-based awards— — — 1,045 Diluted shares outstanding12,849,339 14,375,974 13,217,940 14,481,919 Earnings per common shareBasic$43.08 $43.42 $119.70 $140.27 Diluted$43.08 $43.42 $119.70 $140.26 

NOTE 15 — INCOME TAXESBancShares’ global effective income tax rates (“ETRs”) were 24.4% and 26.8% for the three months ended September 30, 2025 and 2024, respectively, and 24.7% and 27.3% for the nine months ended September 30, 2025 and 2024, respectively. The decrease in the ETR for the three and nine months ended September 30, 2025 compared to 2024 was primarily due to an increase in tax credits and a reduction in the state and local income tax rate. The quarterly income tax expense is based on a projection of BancShares’ annual ETR. This annual ETR is applied to the year-to-date consolidated pretax income to determine the interim provision for income taxes before discrete items. The ETR each period is also impacted by a number of factors, including the relative mix of domestic and international