FIRST CITIZENS BANCSHARES INC DE
For the period ended Aug 14, 2024. Filed Aug 14, 2024.
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Aug 14, 2024 · Filed Aug 14, 2024
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EX-99.1 · Segment Updates
Segment Updates
In conjunction with the SVBB Acquisition, BancShares added the SVB segment during the first quarter of 2023.
Effective January 1, 2024, we changed our segment reporting as further described in Part I, Item 1. “Business—Business Segments” of this Exhibit. Along with all other segment disclosures and related information, loan and deposit amounts, including amounts in our SVB Commercial segment, were retrospectively revised in this Exhibit to conform with our above referenced segment reporting changes. Additionally, there are separate and distinct references throughout this MD&A to total SVB loans and deposits (“Total SVB Loans” and “Total SVB Deposits,” respectively), which are irrespective of our business segment presentation.
Information about our segments is included in Note 23—Business Segment Information and in the section entitled “Results by Business Segment” in this MD&A.
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