Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 137

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 137
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 as additional collateral may be required based on fair value changes of the underlying investments. Securities pledged as collateral under repurchase agreements are maintained with safekeeping agents. The carrying value of investment securities pledged as collateral under repurchase agreements was $500 million and $435 million at September 30, 2025 and December 31, 2024, respectively.

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Long-term BorrowingsOn September 5, 2025, the Parent Company issued and sold $600 million aggregate principal amount of its 5.600% Fixed Rate Reset Subordinated Notes due in 2035 in a public offering. On March 12, 2025, the Parent Company issued and sold $500 million aggregate principal amount of its 5.231% Fixed-to-Floating Rate Senior Notes due in 2031 and $750 million aggregate principal amount of its 6.254% Fixed-to-Fixed Rate Subordinated Notes due in 2040 in a public offering. On June 15, 2025, the Parent Company redeemed all $350 million aggregate principal amount of its 3.375% Fixed-to-Floating Rate Subordinated Notes due in 2030.The following table presents long-term borrowings, net of the respective unamortized purchase accounting adjustments and issuance costs: Long-term Borrowingsdollars in millionsMaturitySeptember 30, 2025December 31, 2024Parent Company:Senior:Fixed-to-Floating Senior Notes at 5.231% (1)March 2031$497 $— Subordinated:Fixed-to-Floating Subordinated Notes at 3.375% (2)March 2030— 350 Fixed Rate Reset Subordinated Notes at 5.600% (3)September 2035597 — Fixed-to-Fixed Subordinated Notes at 6.254% (4)March 2040745 — Subsidiaries:Senior:Fixed Senior Unsecured Notes at 6.000%April 203658 58 Subordinated:Fixed Subordinated Notes at 6.125%March 2028434 445 Secured:Purchase Money Note to FDIC fixed at 3.500% (5)March 202835,854 35,816 Capital lease obligationsMaturities through May 205767 15 Total long-term borrowings$38,252 $36,684 (1) The fixed rate period will end March 12, 2030, and the notes will thereafter