Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 15

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 15
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 Year, an increase of 4 bps from the Prior Year. 

•Average interest-bearing liabilities for the Current Year were $148.90 billion, an increase of $26.13 billion or 21% from $122.77 billion for the Prior Year, mostly due to the Timing of the SVBB Acquisition, but also reflecting organic interest-bearing deposit growth discussed in the “Deposits” section of this MD&A.

◦The rate paid on average interest-bearing liabilities was 3.50%, an increase of 50 bps from the Prior Year, primarily due to a higher rate paid on average interest-bearing deposits, partially offset by the impact of repaying FHLB borrowings in the Prior Year.

•NIM for the Current Year was 3.54%, a decrease of 38 bps from 3.92% for the Prior Year. The decline was due to a higher average balance of interest-bearing deposits and the Purchase Money Note, a higher average rate paid on interest-bearing deposits, and lower PAA, partially offset by higher average balances and yields on loans and investment securities. NIM, excluding PAA, was 3.30% for the Current Year compared to 3.50% for the Prior Year. Refer to the “NII, NIM, and Interest and Fees on Loans, Excluding PAA” discussion in the “Non-GAAP Financial Measurements” section of this MD&A for further discussion.

57

Table 6

Average Balances and Yields/Rates

dollars in millionsYear EndedDecember 31, 2023December 31, 2022Change in NII Due to:AverageBalanceIncome /ExpenseYield /RateAverageBalanceIncome /ExpenseYield /RateVolume(1)Yield /Rate(1)Total ChangeLoans and leases (1)(2)$117,708 $8,187 6.95 %$66,303 $2,953 4.45 %$3,035 $2,199 $5,234 Investment securities23,112 640 2.77 19,166 354 1.85 84 202 286 Securities purchased under agreements to resell161 8 5.20 — — — 8 — 8 Interest-earning deposits at banks29,790 1,556 5.22 7,726 106 1.38 733 717 1,