Discontinued — last reported Q1 '24
General Bank — Income tax expense (benefit)
First Citizens BancShares General Bank — Income tax expense (benefit) decreased by 27.8% to $78.00M in Q1 2024 compared to the prior quarter. Year-over-year, this metric grew by 30.0%, from $60.00M to $78.00M. Over 2 years (FY 2021 to FY 2023), General Bank — Income tax expense (benefit) shows an upward trend with a 43.6% CAGR.
Analysis
How to read this metric
Changes generally track with fluctuations in pre-tax segment income, though shifts in effective tax rates may indicate changes in tax strategy, geographic mix, or legislative impacts.
Detailed definition
This metric represents the total provision for income taxes recognized by the general banking segment based on its pre-t...
Peer comparison
Standard line item for all corporate segments, though comparability depends on the specific tax jurisdictions and accounting allocations used by the parent entity.
fcnca_segment_general_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 | $46.00M | $38.00M | $37.00M | $40.00M | $40.00M | $55.00M | $71.00M | $60.00M | $73.00M | $91.00M | $108.00M | $78.00M |
| QoQ Change | — | -17.4% | -2.6% | +8.1% | +0.0% | +37.5% | +29.1% | -15.5% | +21.7% | +24.7% | +18.7% | -27.8% |
| YoY Change | — | — | — | — | -13.0% | +44.7% | +91.9% | +50.0% | +82.5% | +65.5% | +52.1% | +30.0% |
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Frequently Asked Questions
- What is First Citizens BancShares's general bank — income tax expense (benefit)?
- First Citizens BancShares (FCNCA) reported general bank — income tax expense (benefit) of $78.00M in Q1 2024.
- How has First Citizens BancShares's general bank — income tax expense (benefit) changed year-over-year?
- First Citizens BancShares's general bank — income tax expense (benefit) increased by 30.0% year-over-year, from $60.00M to $78.00M.
- What is the long-term trend for First Citizens BancShares's general bank — income tax expense (benefit)?
- Over 2 years (2021 to 2023), First Citizens BancShares's general bank — income tax expense (benefit) has grown at a 43.6% compound annual growth rate (CAGR), from $161.00M to $332.00M.
- What does general bank — income tax expense (benefit) mean?
- The total amount of income tax expense allocated to the general banking segment's operations.