Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 241

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 241
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 BancShares’ maximum loss exposure.The foregoing statements about BancShares’ Litigation are based on BancShares’ judgments, assumptions, and estimates and are necessarily subjective and uncertain. In the event of unexpected future developments, it is possible that the ultimate resolution of these cases, matters, and proceedings, if unfavorable, may be material to BancShares’ consolidated financial position in a particular period.

NOTE 24 — CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS BancShares has investments in qualified affordable housing projects primarily for CRA purposes and obtaining tax credits. These investments are accounted for in accordance with PAM. BancShares also has investments in various trusts, partnerships, and limited liability corporations established in conjunction with structured financing transactions of equipment, power and infrastructure projects, and workout transactions. BancShares’ interests in these entities were entered into in the ordinary course of business and are accounted for under the equity or cost methods. Refer to Note 9—Variable Interest Entities and Note 10—Other Assets for additional information.

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The combination of investments in and loans to unconsolidated entities represents BancShares’ maximum exposure to loss, as BancShares does not provide guarantees or other forms of indemnification to unconsolidated entities.BancShares has, and expects to have in the future, banking transactions in the ordinary course of business with its directors, executive officers, principal shareholders, and their immediate family (collectively “Related Persons”), including transactions in which Related Persons may have a material interest. Loans to Related Persons totaled $42 million and $27 million as of December 31, 2024 and 2023, respectively. Unfunded loan commitments available to Related Persons totaled $14 million and $10 million as of December 31, 2024 and 2023, respectively.

NOTE 25 — PARENT COMPANY FINANCIAL STATEMENTSThe following tables present condensed stand-alone financial statements of the Parent Company: Parent CompanyCondensed Balance Sheetsdollars in millionsDecember 31, 2024December 31, 2023AssetsCash and due from banks$310 $200 Interest-earning deposits at banks1 5 Investment in marketable equity securities99 82 Note receivable from banking subsidiary200 — Investment in banking subsidiary21,932 21,324 Investment in other subsidiaries97 50 Other assets75 60 Total assets$22,714 $21,721 Liabilities and Stockholders' EquitySubordinated debt$350 $367 B