Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 340

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 2
Chunk 340
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2 9,420 13.1 Total$72,540 100.0 %$71,799 100.0 %

87

Consumer Loan Concentrations

Loan concentrations may exist when multiple borrowers could be similarly impacted by economic or other conditions. The following table summarizes state concentrations greater than 5.0% based on customer address:

Table 39

Consumer Loans - Geography

dollars in millionsMarch 31, 2025December 31, 2024StateCalifornia$8,450 30.0 %$8,655 30.7 %North Carolina6,965 24.7 6,923 24.5 South Carolina3,618 12.9 3,607 12.8 Massachusetts1,678 6.0 1,692 6.0 Other states7,436 26.4 7,351 26.0 Total $28,147 100.0 %$28,228 100.0 %

SVB Loans

SVB loan concentrations may exist when there are borrowers engaged in similar activities or types of loans extended to a diverse group of borrowers that could cause those borrowers or portfolios to be similarly impacted by economic or other conditions. 

The SVB portfolio includes global fund banking and innovation banking loans.

Global Fund Banking

The global fund banking loan portfolio includes loans to clients in the private equity and venture capital community. Global fund banking represented 70% of SVB loans and 20% of total loans at March 31, 2025, compared to 69% and 20%, respectively, at December 31, 2024. The vast majority of this portfolio consists of capital call lines of credit, the repayment of which is dependent on the payment of capital calls by the underlying limited partner investors in the funds managed by these firms. These facilities are generally governed by financial covenants oriented towards ensuring that the funds’ remaining callable capital is sufficient to repay the loan, and larger commitments (typically provided to larger private equity funds) are typically secured by an assignment of the general partner's right to call capital from the fund's limited partner investors.

Innovation Banking

Innovation banking primarily includes loans to technology, life science and healthcare industry clients in the various stages of their life cycles. The loans are classified as investor dependent - early stage, investor dependent - growth stage, and innovation commercial and industrial (“innovation C&I”) and cash flow dependent for reporting purposes