Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 107

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 107
---
. Our ability to fund future loan growth is significantly dependent on our success in retaining existing deposits and generating new deposits at a reasonable cost. 

Deposit Concentrations 

BancShares operates a network of branches and offices, predominantly located in the Southeast, Mid-Atlantic, Midwest and Western United States, providing a broad range of financial services to individuals, businesses and professionals. Based on branch location, our top state deposit concentrations as of March 31, 2025 were in North Carolina, California, and South Carolina, which represented approximately 25.6%, 8.4%, and 7.8%, respectively, of total deposits. 

The Direct Bank had $44.17 billion or 27.7% of our total deposits as of March 31, 2025. The Direct Bank deposits mainly consist of savings deposit accounts. 

SVB Commercial segment deposits as of March 31, 2025 were $37.02 billion or 23.2% of total deposits and are primarily concentrated in online banking. Deposits in the SVB Commercial segment include large dollar accounts with private equity and venture capital clients, primarily in the technology, life science and healthcare industries. 

Deposit accounts with balances in excess of $50 million totaled approximately $7.16 billion as of March 31, 2025, compared to approximately $8.01 billion as of December 31, 2024.

Brokered deposits, included in time deposits in the preceding table, are a source of deposit funding but remain an immaterial amount of total deposits at less than 1% as of March 31, 2025 and December 31, 2024.

Uninsured Deposits

The amount of uninsured deposits is estimated consistent with the methodologies and assumptions utilized in providing information to the FDIC and Federal Reserve. We estimate total uninsured deposits were $58.06 billion, which represented approximately 36.4% of total deposits at March 31, 2025, compared to $59.51 billion or 38.3% of total deposits at December 31, 2024. 

Refer to the “Funding, Liquidity and Capital Overview” and “Results by Segment” sections of this MD&A for further discussion of deposit composition, uninsured deposits, and recent deposit trends.

79

The following table provides the expected maturity of time deposits with balances in excess of $250,000 as of March 31, 2025:

Table 27

Maturities of Time Depos