Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 242

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 242
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orrowings due to banking subsidiary44 45 Other liabilities92 54 Total liabilities486 466 Stockholders’ equity22,228 21,255 Total liabilities and stockholders’ equity$22,714 $21,721 Parent CompanyCondensed Statements of IncomeYear Ended December 31dollars in millions202420232022IncomeDividends from banking subsidiary$2,221 $367 $1,410 Other income (loss)25 (8)(2)Total income2,246 359 1,408 ExpensesInterest expense16 22 19 Other expenses61 40 26 Total expenses77 62 45 Income before income taxes and equity in undistributed net income of subsidiaries2,169 297 1,363 Income tax (benefit) expense(22)(14)44 Income before equity in undistributed net income of subsidiaries2,191 311 1,319 Equity in undistributed (distributed) net income of subsidiaries586 11,155 (221)Net income2,777 11,466 1,098 Preferred stock dividends61 59 50 Net income available to common stockholders$2,716 $11,407 $1,048 

185

Parent CompanyCondensed Statements of Cash FlowsYear Ended December 31dollars in millions202420232022OPERATING ACTIVITIESNet income$2,777 $11,466 $1,098 Adjustments to reconcile net income to cash provided by operating activities:(Undistributed) distributed net income of subsidiaries(586)(11,155)221 Deferred tax expense (benefit)2 (5)48 Net amortization of premiums and discounts— — 1 Fair value adjustment on marketable equity securities, net(13)11 6 Stock based compensation expense— 5 19 Realized gain on sale of investment securities, net(6)— — Net change in other assets(15)(17)(3)Net change in other liabilities(5)3 (2)Other operating activities3 — — Net cash provided by operating activities2,157 308 1,388 INVESTING ACTIVITIESNet decrease (increase) in interest-earning deposits at banks4 (2)3 Purchase of marketable equity securities(6)— — Proceeds from sale of marketable equity securities15 — —