Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 167

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 167
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On July 4, 2025, President Trump signed into law H.R. 1, referred to as the One Big Beautiful Bill Act (“OBBBA”). The OBBBA contains several provisions that impact corporate taxation. BancShares is in the process of evaluating the impact of the OBBBA on its financial statements.  

Financial Performance Summary

The following tables in this MD&A include financial data for the three months ended June 30, 2025 (the “Current Quarter”), March 31, 2025 (the “Linked Quarter”) and June 30, 2024 (the “Prior Year Quarter”), along with the six months ended June 30, 2025 (“Current YTD”), and the six months ended June 30, 2024 (“Prior YTD”). In accordance with Item 303(c) of Regulation S-K, we focus our discussion of quarterly results of operations on changes compared to the Linked Quarter for the narrative discussion and analysis as we believe this provides investors and other users of our data with the most relevant information. 

We focus the discussion of our financial position by comparing balances as of June 30, 2025 to December 31, 2024, however the tables also provide the Linked Quarter balances. 

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Table 1

Selected Financial Data 

dollars in millions, except share dataThree Months EndedSix Months EndedJune 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024Results of Operations:Interest income$2,945 $2,895 $3,130 $5,840 $6,214 Interest expense1,250 1,232 1,309 2,482 2,576 Net interest income1,695 1,663 1,821 3,358 3,638 Provision for credit losses115 154 95 269 159 Net interest income after provision for credit losses1,580 1,509 1,726 3,089 3,479 Noninterest income678 635 639 1,313 1,266 Noninterest expense1,500 1,493 1,386 2,993 2,762 Income before income taxes758 651 979 1,409 1,983 Income tax expense183 168 272 351 545 Net income575 483 707