Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 34

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 34
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 the Branch Network and Wealth due to seasonal tax outflows, and lower net growth.

General Bank segment net income for the Current YTD increased $94 million compared to the Prior YTD, primarily due to higher NII and noninterest income, partially offset by increases in personnel cost, all other noninterest expenses, and income tax expense. 

•The $198 million increase in NII was mainly due to lower rates paid on interest-bearing deposits and loan growth, partially offset by the impact of deposit growth. 

•The $31 million increase in total noninterest income was mostly due to increases in wealth management services, deposit fees and service charges, and cardholder services. 

•The $32 million increase in personnel cost was mainly due to annual merit increases and promotions.

•The $84 million net increase in all other noninterest expenses is spread amongst various accounts, including Allocated Expenses. Refer to the “Noninterest Expense” discussion in the “Results of Operations” section of this MD&A for further information regarding trends in consolidated noninterest expense.

•The $18 million increase in income tax expense reflected higher income before income taxes. 

74

Commercial Bank 

Table 16

Commercial Bank: Financial Data

dollars in millionsThree Months EndedIncrease (Decrease) from Linked QuarterSix Months EndedIncrease (Decrease)Year to DateEarnings SummaryJune 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024Net interest income$299 $293 $311 $6 2 %$592 $611 $(19)(3)%Noninterest IncomeRental income on operating lease equipment54 56 58 (2)(2)110 115 (5)(3)Less: depreciation on operating lease equipment44 44 48 — — 88 94 (6)(6)Net rental income on operating lease equipment (1)10 12 10 (2)(17)22 21 1 5 All other noninterest income98 69 77 29 42 167 160 7 3 Total noninterest income (2)152 125 135 27 22 277 275 2 1 Noninterest income, net of depreciation (1)108 81 87 27 33 189 181 8 4 Total revenue451 418 446 33 8 869