Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 214

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 214
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 committee thereof, to the extent that the Parent Company has lawfully available funds to pay dividends. If declared, dividends with respect to the BancShares Preferred Stock will accrue and be payable quarterly in arrears on March 15, June 15, September 15, and December 15 of each year. Dividends on the BancShares Preferred Stock will not be cumulative. The Parent Company may redeem the BancShares Preferred Stock at its option, and subject to any required regulatory approval, at a redemption price equal to the “Liquidation Preference Per Share” in the table above, plus any declared and unpaid dividends to, but excluding, the redemption date, (i) in whole or in part, from time to time, on any dividend payment date on or after the “Earliest Redemption Date” in the table above, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event.

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NOTE 17 — ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME  The following table details the components of AOCI:Components of Accumulated Other Comprehensive (Loss) Incomedollars in millionsDecember 31, 2024December 31, 2023PretaxIncomeTaxesNet of Income TaxesPretaxIncomeTaxesNet of Income TaxesUnrealized loss on securities available for sale$(762)$178 $(584)$(752)$175 $(577)Unrealized loss on securities available for sale transferred to held to maturity(6)2 (4)(7)2 (5)Defined benefit pension items182 (47)135 122 (31)91 Unrealized gain on cash flow hedge derivatives11 (3)8 — — — Total accumulated other comprehensive loss$(575)$130 $(445)$(637)$146 $(491)The following table details the changes in the components of AOCI, net of income taxes:Changes in Accumulated Other Comprehensive (Loss) Income by Componentdollars in millionsUnrealized loss on securities available for saleUnrealized loss on securities available for sale transferred to held to maturityDefined benefit pension itemsUnrealized gain on cash flow hedge derivativesTotal accumulated other comprehensive lossBalance as of December 31, 2023$(577)$(5)$91 $— $(491)AOCI activity before reclassifications(7)— 44 8 45 Amounts reclassified from AOCI to