Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 106

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 106
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31, 2025December 31, 2024Railcars and locomotives$8,640 $8,573 Other equipment731 750 Total (1)$9,371 $9,323 

(1)    Includes off-lease rail equipment of $256 million at March 31, 2025, and $219 million at December 31, 2024.

Interest-bearing Liabilities

Interest-bearing liabilities include interest-bearing deposits, securities sold under agreements to repurchase, and borrowings. Interest-bearing liabilities at March 31, 2025 totaled $156.96 billion, an increase of $3.32 billion or 2% from $153.65 billion at December 31, 2024, mainly due to deposit growth as well as the Current Quarter Debt Issuances, as further discussed below. 

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Deposits

Total deposits at March 31, 2025 were $159.33 billion, an increase of $4.10 billion or 3% from $155.23 billion at December 31, 2024. The increase from December 31, 2024 was mainly attributable to:

•growth in savings deposits, partially offset by lower time deposits in the Direct Bank, 

•higher noninterest-bearing demand, partially offset by a decline in interest-bearing checking deposits in the SVB Commercial segment,

•growth in money market deposits, partially offset by lower time deposit accounts in the Branch Network, and

•lower noninterest-bearing demand deposits in the Commercial Bank.

The following table summarizes the types of deposits:

Table 26

Deposits 

dollars in millionsMarch 31, 2025December 31, 2024Noninterest-bearing demand$40,767 $38,633 Checking with interest23,041 25,343 Money market37,705 35,722 Savings45,817 42,278 Time11,995 13,253 Interest-bearing deposits118,558 116,596 Total deposits$159,325 $155,229 Noninterest-bearing deposits to total deposits25.6 %24.9 %

We strive to maintain a strong liquidity position, and therefore, deposit retention remains a key business objective. We believe traditional bank deposit products remain an attractive option for many customers. As economic conditions change, we recognize that our liquidity position could be adversely affected if bank deposits are withdrawn