Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 197

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 197
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 AMarch 12, 2020March 15, 2025$0.01 345,000$1,000 $345 5.375%Series B(1)January 3, 2022January 4, 20270.01 325,0001,000 325SOFR + 3.972%Series CJanuary 3, 2022January 4, 20270.01 8,000,00025 2005.625%(1) Upon conversion to SOFR in 2023, BancShares began paying a credit spread adjustment in addition to the stated dividend.Dividends on BancShares Series A, B, and C preferred stock (together, “BancShares Preferred Stock”) will be paid when, as, and if declared by the Board of Directors of the Parent Company, or a duly authorized 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. For further description of BancShares’ Preferred Stock, refer to Note 16—Stockholders’ Equity in the Notes to the Consolidated Financial Statements included in the 2024 Form 10-K.

NOTE 13 — ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME  The following table details the components of AOCI:Components of Accumulated Other Comprehensive Lossdollars in millionsMarch 31, 2025December 31, 2024PretaxIncomeTaxesNet of Income TaxesPretaxIncomeTaxesNet of Income TaxesUnrealized loss on securities available for sale$(440)$95 $(345)$(762)$178 $(584)Unrealized loss on securities available for sale transferred to held to maturity(6)2 (4)(6)2 (4)Defined benefit pension items182 (47)135 182 (47)135 Unrealized gain on cash flow hedge derivatives20 (5)15 11 (3)8 Total accumulated other comprehensive loss$(244)$45 $(199)$(575)$130 $(445)

46

The following table details the changes in the components of AOCI, net of income taxes:Changes in Accumulated