Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 168

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 168
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 of held to maturity debt securities consists of mortgage-backed securities issued by government agencies and government sponsored entities, U.S. Treasury notes, unsecured bonds issued by government agencies and government sponsored entities, and securities issued by the Supranational Entities & Multilateral Development Banks. Given the consistently strong credit rating of the U.S. Treasury, the Supranational Entities & Multilateral Development Banks and the long history of no credit losses on debt securities issued by government agencies and government sponsored entities, no allowance for credit loss was required for debt securities held to maturity as of December 31, 2024. There were no debt securities on nonaccrual status as of December 31, 2024 or December 31, 2023.Investment securities having an aggregate carrying value of $3.94 billion at December 31, 2024, and $3.77 billion at December 31, 2023, were pledged as collateral to secure public funds on deposit and certain short-term borrowings, and for other purposes as required by law.

Certain investments held by BancShares are reported in other assets, including FHLB stock and nonmarketable securities without readily determinable fair values that are recorded at cost, and investments in qualified affordable housing projects, all of which are accounted for under the PAM. Refer to Note 10—Other Assets for the respective balances. 

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NOTE 4 — LOANS AND LEASESUnless otherwise noted, loans held for sale are not included in the following tables. Leases in the following tables include finance leases, but exclude operating lease equipment. Loans by Class dollars in millionsDecember 31, 2024December 31, 2023CommercialCommercial construction$5,109 $3,918 Owner occupied commercial mortgage16,842 15,471 Non-owner occupied commercial mortgage16,194 14,995 Commercial and industrial31,640 29,794 Leases2,014 2,054 Total commercial71,799 66,232 ConsumerResidential mortgage23,152 22,776 Revolving mortgage2,567 2,165 Consumer auto1,523 1,442 Consumer other986 1,176 Total consumer28,228 27,559 SVBGlobal fund banking27,904 25,553 Investor dependent - early stage997 1,403 Investor dependent - growth stage2,196 2,897 Innovation C&I and cash flow dependent9