Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 134

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 134
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ase income – operating leases$261 $236 $772 $714 Variable lease income – operating leases (1)12 26 43 62 Rental income on operating leases273 262 815 776 Interest income – sales type and direct financing leases44 44 131 131 Variable lease income included in other noninterest income (2)14 15 44 46 Interest income – leveraged leases1 1 3 3 Total lease income$332 $322 $993 $956 (1)     Primarily includes per diem railcar operating lease rental income earned on a time or mileage usage basis. 

(2) Includes revenue related to insurance coverage on leased equipment and leased equipment property tax reimbursements due from customers. 

NOTE 7 — GOODWILL AND CORE DEPOSIT INTANGIBLESGoodwillBancShares had goodwill of $346 million at September 30, 2025 and December 31, 2024. There was no goodwill impairment during the nine months ended September 30, 2025 or 2024. Goodwill relates to the General Bank reporting segment. Core Deposit IntangiblesCore deposit intangibles represent the estimated fair value of core deposits and other customer relationships acquired. Core deposit intangibles are being amortized over their estimated useful lives. The following tables summarize the activity for core deposit intangibles:Core Deposit IntangiblesNine Months Ended September 30,dollars in millions2025Balance at beginning of period, net of accumulated amortization $249 Less: amortization for the period41 Balance at end of period, net of accumulated amortization$208 

34

The following table summarizes the accumulated amortization balance for core deposit intangibles:Core Deposit Intangible Accumulated Amortizationdollars in millionsSeptember 30, 2025December 31, 2024Gross balance$501 $501 Less: accumulated amortization293 252 Balance, net of accumulated amortization$208 $249 The following table summarizes the expected amortization expense as of September 30, 2025 in subsequent periods for core deposit intangibles:Core Deposit Intangible Expected Amortizationdollars in millionsRemainder 2025$13 202646 202739 202834 202930 203028 Thereafter18 Balance, net of accumulated amortization$208 

NOTE 8 — VARIABLE INTEREST ENT