First Citizens BancShares, Inc. announced Net charge-offs fourth quarter ended December 31, 2023. For the quarter, Net charge-offs totaled $177 million during the fourth quarter, representing 0.53% of average loans, compared to $176 million, or 0.53% of average loans, during the third quarter. Net charge-offs in the Commercial Bank were $94 million, an increase of $36 million from the third quarter, and were primarily in Equipment Finance, real estate finance and the energy vertical.

Net charge-offs in the SVB segment were $65 million, a decrease of $35 million from the third quarter, and were primarily concentrated in the investor dependent portfolios. Net charge-offs in the General Bank were unchanged at $18 million.