Discontinued — last reported Q1 '24
Commercial Bank — Income tax expense (benefit)
First Citizens BancShares Commercial Bank — Income tax expense (benefit) increased by 200.0% to $42.00M in Q1 2024 compared to the prior quarter. Year-over-year, this metric grew by 40.0%, from $30.00M to $42.00M. Over 2 years (FY 2021 to FY 2023), Commercial Bank — Income tax expense (benefit) shows an upward trend with a 379.6% CAGR.
Analysis
How to read this metric
An increase generally tracks with higher segment profitability, though significant deviations from the statutory rate may signal changes in tax planning or deferred tax adjustments.
Detailed definition
This metric captures the total income tax expense or benefit attributable to the commercial banking segment's pre-tax ea...
Peer comparison
Commonly analyzed as an effective tax rate percentage to compare tax efficiency across different banking segments and peer institutions.
fcnca_segment_commercial_bank_income_tax_expense_benefitHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $0.00 | $1.00M | $1.00M | $41.00M | $24.00M | $24.00M | $38.00M | $30.00M | $11.00M | $14.00M | $14.00M | $42.00M |
| QoQ Change | — | — | +0.0% | >999% | -41.5% | +0.0% | +58.3% | -21.1% | -63.3% | +27.3% | +0.0% | +200.0% |
| YoY Change | — | — | — | — | — | >999% | >999% | -26.8% | -54.2% | -41.7% | -63.2% | +40.0% |
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Frequently Asked Questions
- What is First Citizens BancShares's commercial bank — income tax expense (benefit)?
- First Citizens BancShares (FCNCA) reported commercial bank — income tax expense (benefit) of $42.00M in Q1 2024.
- How has First Citizens BancShares's commercial bank — income tax expense (benefit) changed year-over-year?
- First Citizens BancShares's commercial bank — income tax expense (benefit) increased by 40.0% year-over-year, from $30.00M to $42.00M.
- What is the long-term trend for First Citizens BancShares's commercial bank — income tax expense (benefit)?
- Over 2 years (2021 to 2023), First Citizens BancShares's commercial bank — income tax expense (benefit) has grown at a 379.6% compound annual growth rate (CAGR), from $3.00M to $69.00M.
- What does commercial bank — income tax expense (benefit) mean?
- The total amount of income tax the commercial banking segment is responsible for paying based on its earnings.