Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 292

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 292
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 carrying value of the Purchase Money Note.

29

NOTE 5 — ALLOWANCE FOR LOAN AND LEASE LOSSESThe ALLL is reported as a separate line item on the Consolidated Balance Sheets, while the reserve for off-balance sheet credit exposure is included in other liabilities. The provision or benefit for credit losses related to (i) loans and leases (ii) off-balance sheet credit exposure, and (iii) investment securities available for sale, if any, is reported in the Consolidated Statements of Income as provision or benefit for credit losses. The ALLL activity for loans and leases is summarized in the following table:Allowance for Loan and Lease Lossesdollars in millionsThree Months Ended June 30, 2025Three Months Ended June 30, 2024CommercialConsumerTotalCommercialConsumerTotalBalance at beginning of period$1,517 $163 $1,680 $1,582 $155 $1,737 Provision for loan and lease losses111 — 111 94 1 95 Charge-offs(137)(7)(144)(153)(6)(159)Recoveries21 4 25 24 3 27 Balance at end of period$1,512 $160 $1,672 $1,547 $153 $1,700 dollars in millionsSix Months Ended June 30, 2025Six Months Ended June 30, 2024CommercialConsumerTotalCommercialConsumerTotalBalance at beginning of period$1,518 $158 $1,676 $1,581 $166 $1,747 Provision (benefit) for loan and lease losses249 10 259 193 (5)188 Charge-offs(296)(15)(311)(274)(13)(287)Recoveries41 7 48 47 5 52 Balance at end of period$1,512 $160 $1,672 $1,547 $153 $1,700 The decrease of $8 million in the ALLL at June 30, 2025 compared to March 31, 2025 primarily reflected decreases related to Hurricane Helene, other credit quality improvements, and a modest shift in our weighting from the downside to baseline economic scenario, partially offset by higher specific reserves for individually evaluated loans. The decrease of $4 million in the ALLL at June 30, 2025 compared to