Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 300

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 300
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 deposits$134 $— $— $334 $— $— Interest rate contracts hedging long-term borrowings200 — — 750 — — Total fair value hedges (1) (2)334 — — 1,084 — — Cash Flow HedgesInterest rate contracts hedging loans (1) (2)3,000 — — 3,500 1 — Total derivatives designated as hedging instruments$3,334 $— $— $4,584 $1 $— Derivatives not designated as hedging instruments (Non-qualifying hedges)Interest rate contracts (1) (2)$27,721 $418 $(411)$26,235 $491 $(516)Foreign exchange contracts (3)8,408 188 (219)7,843 152 (108)Other contracts (4)1,520 20 (1)1,316 16 (1)Total derivatives not designated as hedging instruments$37,649 $626 $(631)$35,394 $659 $(625)Gross derivatives fair values presented in the Consolidated Balance Sheets$626 $(631)$660 $(625)Less: gross amounts offset in the Consolidated Balance Sheets— — — — Net amount presented in other assets and other liabilities in the Consolidated Balance Sheets$626 $(631)$660 $(625)(1)    Fair value balances include accrued interest.(2)    BancShares accounts for swap contracts cleared by the Chicago Mercantile Exchange and LCH Clearnet as “settled-to-market.” As a result, the derivative asset and liability fair values in the table above are presented net of the variation margin payments. Refer to the table below for more information.  (3)    The foreign exchange contracts exclude foreign exchange spot contracts. The notional and net fair value amounts of these contracts were $300 million and $0 million, respectively, as of June 30, 2025, and $177 million and $0 million, respectively, as of December 31, 2024.(4)     Other derivative contracts not designated as hedging instruments include risk participation agreements and equity warrants.The following table presents the impact of variation margin netting (form of collateral payment when the underlying fair value changes) on derivative assets and liabilities: Variation Margin Paymentsdoll