First Citizens BancShares Results Presentation Deck
Noninterest income
($ in millions)
0
0
o
0
$433
$145
3Q23 vs 2Q23
Noninterest income decreased by $43 million.
Adjusted noninterest income (¹) increased by $6 million. Significant components
included:
O
$288
0
3Q22
$429
$139
$290
4Q22
Adjusted (Non-GAAP) (¹)
$11 million increase in gross rental income on operating lease equipment due to
increased utilization and a higher lease rate, and a
Notable items decreased by $49 million. Significant components included:
$43 million reduction in adjustments to the gain on acquisition,
$2 million increase in fee income and other service charges; partially offset by a
$3 million decrease in other noninterest income spread among various accounts,
$2 million decrease in wealth management fees due to a decline in assets under
management at SVB, and a
$2 million decrease in merchant services due to a lower purchase volume.
First Citizens
BancShares
$12 million increase in realized losses on the sale of investment securities due to a
strategic exit of the acquired SVB municipal bond portfolio, and a
$9 million decrease in unfavorable fair value adjustments on marketable equity
securities.
$10,259
$9,824
$126
$309
1Q23
Highlights
O
0
$9,950
total
0
notable
items
Notable items (2)
0
$658
$55
$141
$462
2Q23
$196
total
notable
items
Gain on acquisition
$615
$12
$135
$468
3Q23 vs 3Q22
Noninterest income increased by $182 million.
Adjusted noninterest income (¹) increased by $180 million primarily due to the impacts
of the SVB acquisition. Significant components included:
3Q23
Notable Items increased by $2 million. Significant components included:
$12 million increase in adjustments to the gain on acquisition,
$8 million increase in gain on sale of leasing equipment, and a
$7 million increase in rental income on operating leases; partially offset by a
$13 million decrease in other noninterest income, and a
$12 million increase in realized losses on the sale of investment securities.
$147
total
notable
items
$52 million increase in client investment fees earned for managing off-balance sheet
client funds primarily in the SVB segment,
$31 million increase in international fees which are FX fees primarily in the SVB
segment,
$29 million increase in fee income and other service charges,
$23 million increase in service charges on deposits, and a
$22 million increase in rental income on operating lease equipment due to increased
utilization and a higher lease rate.
(1) Adjusted amounts exclude notable items. Refer to the Non-GAAP Section V of this presentation for notable item details and a reconciliation of the Non-GAAP to GAAP
measures.
(2) Excludes gain on acquisition as it is broken out separately.
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