Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 54

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 54
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350 (350)(100)(350)(100)6.125% fixed rate notes due March 2028437 441 445 (4)(1)(8)(2)6.254% fixed-to-fixed rate notes due March 2040(4)745 745 — — — 745 100 Capital lease obligations63 36 15 27 75 48 320 Total borrowings$38,112 $38,406 $37,051 $(294)(1)%$1,061 3 %

(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 $150 million, $163 million, and $176 million at June 30, 2025, March 31, 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 rate equal to Three-Month Term SOFR plus 246.5 bps per annum. The notes included a callable feature and were redeemed on June 15, 2025.

(4) 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).

85

The following summarizes the Linked Quarter Debt Issuances:

Table 30

Parent Company Notes Issued

Issuance DateAmountDescriptionMarch 12, 2025$500 Million$500 million aggregate principal amount of senior fixed-to-floating rate notes with a maturity date of March 12, 2031. Interest is payable semi-annually in arrears on March 12 and September 12 of each year, beginning on September 12, 2025, and ending on March 12,