Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 216

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 1
Chunk 216
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 to repurchase, partially offset by the Current Quarter Debt Redemption.

The following table presents borrowings, net of the respective unamortized purchase accounting adjustments and issuance costs:

Table 29

Borrowings

dollars in millionsIncrease (Decrease) from:June 30, 2025March 31, 2025December 31, 2024March 31, 2025December 31, 2024Securities sold under agreements to repurchase$471 $450 $367 $21 5 %$104 28 %Federal Deposit Insurance Corporation   3.500% fixed rate note due March 2028(1)35,841 35,829 35,816 12 — 25 — Senior Unsecured Borrowings5.231% fixed-to-floating rate notes due March 2031(2)497 497 — — — 497 100    6.000% fixed rate notes due April 203658 58 58 — — — — Subordinated debt3.375% fixed-to-floating rate notes due March 2030(3)— 350 350 (350)(100)(350)(100)6.125% fixed rate notes due March 2028437 441 445 (4)(1)(8)(2)6.254% fixed-to-fixed rate notes due March 2040(4)745 745 — — — 745 100 Capital lease obligations63 36 15 27 75 48 320 Total borrowings$38,112 $38,406 $37,051 $(294)(1)%$1,061 3 %

(1) Issued in connection with the SVBB Acquisition and secured by collateral. Refer to Note 2—Business Combinations and Note 4—Loans and Leases. The unamortized discount related to this borrowing was $150 million, $163 million, and $176 million at June 30, 2025, March 31, 2025, and December 31, 2024, respectively. 

(2) The fixed rate period will end on March 12, 2030, and the notes will thereafter bear a floating interest rate equal to a benchmark rate based on the Compounded Secured Overnight Financing Rate (“SOFR”) Index Rate plus 141 bps per annum until the maturity date