Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 84

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 84
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 interest-bearing liabilities, and the respective yields and rates paid. The main reasons for the increases and decreases are explained below.

NII and NIM

•NII for the Current Quarter was $1.66 billion, a decrease of $46 million or 3% from $1.71 billion for the Linked Quarter. NII, excluding PAA,(1) was $1.59 billion for the Current Quarter, a decrease of $39 million from $1.63 billion for the Linked Quarter. The main reasons for the decreases in NII and NII, excluding PAA,(1) are explained below.

◦Interest and fees on loans for the Current Quarter was $2.24 billion, a decrease of $86 million or 4% from $2.32 billion for the Linked Quarter. The decrease was a result of a lower yield, partially offset by the impact of a higher average balance. 

•Loan PAA was $84 million for the Current Quarter, a decrease of $6 million from $90 million for the Linked Quarter. 

•Interest and fees on loans, excluding loan PAA,(1) was $2.15 billion for the Current Quarter, a decrease of $80 million from $2.23 billion for the Linked Quarter.

◦Interest income on interest-earning deposits at banks for the Current Quarter was $245 million, a decrease of $57 million or 19% from $302 million for the Linked Quarter, due to declines in the average balance and the federal funds rate.

◦Interest income on investment securities and securities purchased under agreements to resell for the Current Quarter was $414 million, an increase of $37 million or 10% from $377 million for the Linked Quarter, due to a higher average balance and a higher yield.

◦Interest expense on interest-bearing deposits for the Current Quarter was $893 million, a decrease of $64 million or 7% from $957 million for the Linked Quarter, due to a lower rate paid, partially offset by the impact of a higher average balance.   

◦Interest expense on borrowings for the Current Quarter was $339 million, an increase of $4 million or 1% from $335 million for the Linked Quarter, primarily due to a higher average balance as a result of the Current Quarter Debt Issuances discussed in the “Interest-bearing