Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 309

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 309
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 periods and are recorded in the provision for credit losses.Other real estate owned. OREO is carried at LOCOM. OREO asset valuations are determined by using appraisals or other third-party value estimates of the subject property with discounts, generally between 7% and 10%, applied for estimated selling costs and other external factors that may impact the marketability of the property. At June 30, 2025 and December 31, 2024, the weighted average discount applied was 9.46% and 9.45%, respectively. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. If there are any significant changes in the market or the subject property, valuations are adjusted or new appraisals are ordered to ensure the reported values reflect the most current information. 

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Financial Instruments Fair ValueThe table below presents the carrying values and estimated fair values for financial instruments, excluding leases and certain other assets and liabilities for which these disclosures are not required.  Carrying Values and Fair Values of Financial Assets and Liabilitiesdollars in millionsJune 30, 2025Estimated Fair ValueCarrying ValueLevel 1Level 2Level 3TotalFinancial AssetsCash and due from banks$889 $889 $— $— $889 Interest-earning deposits at banks26,184 26,184 — — 26,184 Securities purchased under agreements to resell300 — 300 — 300 Investment in marketable equity securities97 42 55 — 97 Investment securities available for sale33,060 — 32,922 138 33,060 Investment securities held to maturity10,189 — 8,888 — 8,888 Loans held for sale123 — 83 40 123 Net loans137,605 — 1,538 136,582 138,120 Accrued interest receivable902 — 902 — 902 Federal Home Loan Bank stock19 — 19 — 19 Mortgage servicing rights29 — — 48 48 Derivative assets - non-qualifying hedges626 — 603 23 626 Financial LiabilitiesDeposits with no stated maturity148,693 — 148,693 — 148,693 Time deposits11,