Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 249

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 249
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-term debt that would be available to absorb losses in the event of failure as further discussed in the “Regulatory Considerations” section in Item 1. Business of the 2024 Form 10-K. 

Refer to the “Liquidity Risk” section of this MD&A and Note 9—Borrowings for further information regarding liquidity and borrowings.

80

Other Assets and Liabilities    

The following table includes the components of other assets: 

Table 29

Other Assets

dollars in millionsMarch 31, 2025December 31, 2024Affordable housing tax credit and other unconsolidated investments (1)$2,578 $2,516 Accrued interest receivable920 902 Fair value of derivative financial instruments553 660 Pension and other retirement plan assets667 658 Right of use assets for operating leases, net300 316 Income tax receivable500 505 Counterparty receivables87 69 Bank-owned life insurance107 106 Nonmarketable equity securities136 127 Other real estate owned97 56 Mortgage servicing rights28 27 Federal Home Loan Bank stock20 20 Other803 778 Total other assets$6,796 $6,740 

(1)    Refer to Note 8—Variable Interest Entities for additional information.

The following table includes the components of other liabilities: 

Table 30

Other Liabilities

dollars in millionsMarch 31, 2025December 31, 2024Deferred taxes$3,525 $3,534 Commitments to fund tax credit investments1,234 1,214 Accrued personnel cost (1)495 1,024 Fair value of derivative financial instruments541 625 Lease liabilities340 357 Reserve for off-balance sheet credit exposure284 278 Accrued interest payable107 134 Accounts payable and other1,125 1,030 Total other liabilities$7,651 $8,196 

(1) Accrued personnel cost can fluctuate based on timing of the payroll cycle. The December 31, 2024 accrued balance also included amounts related to annual incentive compensation that were paid in the Current Quarter.  

RISK MANAGEMENT

Risk is inherent in any business. BancShares has defined a moderate risk appetite and a balanced approach to risk taking with a philosophy that does not preclude higher risk business activities comm