Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 139

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 139
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The following table presents notional amounts and fair values of derivative financial instruments:  Notional Amount and Fair Value of Derivative Financial Instrumentsdollars in millionsSeptember 30, 2025December 31, 2024Notional AmountAsset Fair ValueLiability Fair ValueNotional AmountAsset Fair ValueLiability Fair ValueDerivatives designated as hedging instruments (Qualifying hedges)Fair Value HedgesInterest rate contracts hedging time deposits$134 $— $— $334 $— $— Interest rate contracts hedging long-term borrowings200 — — 750 — — Total fair value hedges (1) (2)334 — — 1,084 — — Cash Flow HedgesInterest rate contracts hedging loans (1) (2)2,500 — — 3,500 1 — Total derivatives designated as hedging instruments$2,834 $— $— $4,584 $1 $— Derivatives not designated as hedging instruments (Non-qualifying hedges)Interest rate contracts (1) (2)$28,290 $403 $(383)$26,235 $491 $(516)Foreign exchange contracts (3)7,969 145 (136)7,843 152 (108)Other contracts (4)1,497 22 (1)1,316 16 (1)Total derivatives not designated as hedging instruments$37,756 $570 $(520)$35,394 $659 $(625)Gross derivatives fair values presented in the Consolidated Balance Sheets$570 $(520)$660 $(625)Less: gross amounts offset in the Consolidated Balance Sheets— — — — Net amount presented in other assets and other liabilities in the Consolidated Balance Sheets$570 $(520)$660 $(625)(1)    Fair value balances include accrued interest.(2)    BancShares accounts for swap contracts cleared by the Chicago Mercantile Exchange and LCH Clearnet as “settled-to-market.” As a result, the derivative asset and liability fair values in the table above are presented net of the variation margin payments. Refer to the table below for more information.  (3)    The foreign exchange contracts exclude foreign exchange spot contracts. The notional and net fair value amounts of these contracts were $566 million