Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 224

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 224
---
12, 2030, and on the maturity date (or date of earlier redemption).March 12, 2025$750 Million$750 million aggregate principal amount of subordinated fixed-to-fixed rate notes with a maturity date of March 12, 2040. Interest is payable semi-annually in arrears on March 12 and September 12 of each year and on the maturity date (or date of earlier redemption), commencing on September 12, 2025, at a fixed rate of 6.254% per annum. The interest rate will reset on March 12, 2035, and the notes will thereafter bear a fixed interest rate equal to the Five-year U.S. Treasury Rate as of the day falling two business days prior to the notes reset date plus 197 bps per annum until the maturity date (or date of earlier redemption).

We continually monitor our capital needs and market conditions in an effort to diversify our borrowing base and capital mix when appropriate. Additionally, we continue to monitor the status of the notice of proposed rulemaking (“NPR”) issued by the federal banking agencies discussing, among other items, the proposed requirement to maintain a certain level of long-term debt that would be available to absorb losses in the event of failure as further discussed in the “Regulatory Considerations” section in Item 1. Business of the 2024 Form 10-K. 

Refer to the “Liquidity Risk” section of this MD&A and Note 9—Borrowings for further information regarding liquidity and borrowings.

Other Assets and Liabilities    

The following table includes the components of other assets: 

Table 31Other Assets

dollars in millionsIncrease (Decrease) from:September 30, 2025June 30, 2025December 31, 2024June 30, 2025December 31, 2024Affordable housing tax credit and other unconsolidated investments (1)$2,831 $2,592 $2,516 $239 9 %$315 13 %Accrued interest receivable945 902 902 43 5 43 5 Fair value of derivative financial instruments570 626 660 (56)(9)(90)(14)Pension and other retirement plan assets670 671 658 (1)— 12 2 Right of use assets for operating leases, net305 318 316 (13)(4)(11