First Citizens Bancshares Inc. in Raleigh, citing a jump in credit costs, reported a sharp decline in second-quarter earnings.

The $17.3 billion-asset company said profits fell 76.3% from a year earlier, to $6.2 million. The loan-loss provision rose 55.3% from a year earlier, to $20.8 million.

Net chargeoffs doubled from a year earlier, to $20.8 million. Nonperforming assets more than doubled from a year earlier, to $102.4 million.

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