Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 55

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 2
Chunk 55
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 2025December 31, 2024June 30, 2025December 31, 2024Securities sold under agreements to repurchase$423 $471 $367 $(48)(10)%$56 15 %Federal Deposit Insurance Corporation   3.500% fixed rate note due March 2028 (1)35,854 35,841 35,816 13 — 38 — 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 debt6.125% fixed rate notes due March 2028434 437 445 (3)(1)(11)(2)3.375% fixed-to-floating rate notes due March 2030 (3)— — 350 — — (350)(100)5.600% fixed rate reset notes due September 5, 2035 (4)597 — — 597 100 597 100 6.254% fixed-to-fixed rate notes due March 2040 (5)745 745 — — — 745 100 Capital lease obligations67 63 15 4 6 52 347 Total borrowings$38,675 $38,112 $37,051 $563 2 %$1,624 4 %

(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 $137 million, $150 million, and $176 million at September 30, 2025, June 30, 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 (or date of earlier redemption).

(3) The fixed rate period ended on March 15, 2025, and the notes converted to a floating interest