Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 146

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 146
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The following table summarizes the changes in estimated fair value for all assets and liabilities measured at estimated fair value on a recurring basis using significant unobservable inputs (Level 3): Changes in Estimated Fair Value of Level 3 Financial Assets and Liabilities - Recurring Basisdollars in millionsNine Months Ended September 30, 2025Nine Months Ended September 30, 2024Corporate BondsOther Derivative Assets — Non-QualifyingOther Derivative Liabilities — Non-QualifyingCorporate BondsOther Derivative Assets — Non-QualifyingOther Derivative Liabilities — Non-QualifyingBeginning balance$168 $17 $1 $157 $7 $1 Purchases— 6 — — 7 — Changes in fair value included in earnings— 4 — (1)1 — Changes in fair value included in comprehensive income9 — — 8 — — Maturity and settlements(68)(2)— — — — Ending balance$109 $25 $1 $164 $15 $1 Fair Value OptionThe following table summarizes the difference between the aggregate fair value and the unpaid principal balance (“UPB”) for residential mortgage loans originated for sale measured at fair value: Aggregate Fair Value and UPB - Residential Mortgage Loansdollars in millionsSeptember 30, 2025December 31, 2024Fair ValueUnpaid Principal BalanceDifferenceFair ValueUnpaid Principal BalanceDifferenceOriginated loans held for sale (1)$102 $102 $— $55 $54 $1 (1) Originated loans held for sale include loans held for sale and loans originated for sale but transferred to portfolio and held for investment.BancShares has elected the fair value option for residential mortgage loans originated for sale. This election reduces certain timing differences in the Consolidated Statements of Income and better aligns with the management of the portfolio from a business perspective. The changes in fair value that were recorded as a component of other noninterest income were insignificant for the three and nine months ended September 30, 2025 and 2024. Interest earned on originated loans held for sale is recorded within interest income on loans and leases in the Consolidated Statements of Income.No originated loans held for sale were 90 or more days past due or on nonaccrual status as of September 30, 2025 or December 31, 2024.

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Assets Measured at Estimated Fair Value