Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 228

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 228
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Cash and equivalents$56 $56 $— $— $— —% - 5%3 %Equity securities25% - 65%48 %Common and preferred stock145 145 — — — Mutual funds182 182 — — — Exchange traded funds458 458 — — — Fixed income30% - 65%45 %U.S. government and government agency securities7 — 7 — — Corporate bonds6 — 6 — — Collective investment funds (fixed income)736 — — — 736 Alternative investments—% - 30%4 %Limited partnerships58 — — — 58 Total pension assets$1,648 $841 $13 $— $794 100 %December 31, 2023Market ValueLevel 1Level 2Level 3Not Classified (1)Weighted Average Target Allocation Pension PlansActual %of Plans'AssetsCash and equivalents$31 $31 $— $— $— —% - 5%2 %Equity securities25% - 65%45 %Common and preferred stock134 134 — — — Mutual funds126 126 — — — Exchange traded funds459 459 — — — Fixed income30% - 65%50 %U.S. government and government agency securities17 — 17 — — Corporate bonds15 — 15 — — Exchange traded funds13 13 — — — Collective investment funds (fixed income)753 — — — 753 Alternative investments—% - 30%3 %Limited partnerships41 — — — 41 Total pension assets$1,589 $763 $32 $— $794 100 %(1) These investments have been measured using the net asset value per share practical expedient and are not required to be classified in the above tables.Cash FlowsThe following table presents estimated future benefits projected to be paid for the next ten years from the Pension Plans’ assets or from BancShares’ general assets calculated using current actuarial assumptions. Actual benefit payments may differ from projected benefit payments.Projected Benefitsdollars in millionsRetirement Plans2025$72