Company: FCNCB
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001193125-25-056659
Chunk: 7

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 7
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 an increase of $6.92 billion or 5% from 2023. The growth over the prior year was broad based across each of our operating segments. Loan growth in the General Bank segment was primarily related to business and commercial loans in our Branch Network while growth in the Commercial Bank segment was mainly concentrated in our industry verticals. The increase in our SVB Commercial segment was driven by growth in our Global Fund Banking business, partially offset by declines in the Tech & Healthcare Banking business. Deposit Growth– Total deposits at December 31, 2024, were $155.23 billion, an increase of $9.38 billion or 6% from 2023. The General Bank segment increased $4.33 billion driven primarily by growth in the Branch Network, as well as Wealth and Community Association Banking channels. While the Commercial Bank segment was materially unchanged from the prior year, the SVB Commercial segment was up $1.91 billion driven by growth in both the Global Fund Banking and Tech & Healthcare Banking businesses. We also added $3.43 billion of deposits in our nationwide Direct Bank. Asset Quality– Net charge-offs totaled 0.39% of average loans during 2024, down 8 basis points from 2023. The allowance for credit losses as a percentage of total loans was 1.20% at December 31, 2024, a decrease of 11 basis points from 1.31% at December 31, 2023. Maintained Solid Capital While Executing on Our Share Repurchase Program– Our capital position remained strong throughout the year, and we reported a common equity Tier 1 ratio of 12.99% at December 31, 2024. We repurchased 814,641 shares of our Class A Common for $1.66 billion, representing 6.02% of the Class A Common outstanding at June 30, 2024, during the second half of the year under the share repurchase program announced in July of 2024. Liquidity Remained Strong– We strive to maintain a strong liquidity position, and at December 31, 2024, we had $59.34 billion in liquid assets, or approximately 27% of total assets, consisting of cash and high-quality liquid securities.

| 2025 Annual Proxy Statement |     | 5 |

Proxy Summary 2024 Executive Compensation Highlights The table below describes the key objectives of our executive compensation program, the principal components of executive compensation, and actions by the CNG