FIRST CITIZENS BANCSHARES INC DE

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(1) Ending balance primarily includes Direct Bank deposits of $37.67 billion which are included in Corporate. The average size data includes Direct Bank deposits as the information is not meaningful for brokered deposits and Rail segment deposits.

The General Bank segment includes deposits from our branch network, which deploys a relationship-based approach to deposit gathering. The Commercial Bank and SVB Commercial segments have deposits from their respective customer bases. Deposits in Corporate primarily consist of $37.67 billion in our Direct Bank, a nationwide digital bank that enables us to increase deposits to meet the needs of our business, albeit at a higher incremental cost compared to our branch network, along with brokered deposits and $13 million of deposits in the Rail segment.

As displayed in the table above, the average size of deposits varies across our business segments. The uninsured data represents the percentage of deposits in the respective segments and Corporate. At December 31, 2023, total uninsured deposits were approximately $54.15 billion or 37% of total deposits. This represents an increase in uninsured deposits from $29.13 billion or 33% of total deposits at December 31, 2022 due to Total SVB Deposits, which have higher average account balance.

Deposit Trends