Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 49

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 49
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— $33,582 $168 Marketable equity securities101 48 53 — Loans held for sale55 — 55 — Derivative assets (1)Total qualifying hedge assets$1 $— $1 $— Interest rate contracts — non-qualifying hedges$491 $— $490 $1 Foreign exchange contracts — non-qualifying hedges152 — 152 — Other derivative contracts — non-qualifying hedges16 — — 16 Total non-qualifying hedge assets$659 $— $642 $17 Total derivative assets$660 $— $643 $17 LiabilitiesDerivative liabilities (1)Interest rate contracts — qualifying hedges$— $— $— $— Interest rate contracts — non-qualifying hedges$516 $— $516 $— Foreign exchange contracts — non-qualifying hedges108 — 108 — Other derivative contracts — non-qualifying hedges1 — — 1 Total non-qualifying hedge liabilities$625 $— $624 $1 Total derivative liabilities$625 $— $624 $1 (1)     Derivative fair values include accrued interest. The methods and assumptions used to estimate the fair value of each class of financial instruments measured at fair value on a recurring basis are as follows:Investment securities available for sale. The fair value of U.S. Treasury, government agency, mortgage-backed securities, municipal bonds, and a portion of the corporate bonds are generally estimated using a third-party pricing service. To obtain an understanding of the processes and methodologies used, management reviews correspondence from the third-party pricing service. Management also performs a price variance analysis process to corroborate the reasonableness of prices. The third-party provider evaluates securities based on comparable investments with trades and market data and will utilize pricing models which use a variety of inputs, such as benchmark yields, reported trades, issuer spreads, benchmark securities, bids and offers as needed. These securities are generally classified as Level 2. The remaining corporate bonds held are generally measured at fair value based on indicative bids from broker-dealers using inputs that are not directly observable. These securities are classified as Level 3.Marketable equity securities. Equity securities are measured at fair value using observable closing prices. The valuation also considers the amount of market activity by examining