Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 312

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 8
Chunk 312
---
 (1)Other noninterest income12 (20)(52)3 Other contractsOther noninterest income1 2 3 1 Total non-qualifying hedges - income statement impact$17 $(23)$(39)$10 

(1) This is primarily related to economic hedges of foreign currency risks arising from loans and other assets denominated in foreign currency. There is an offsetting impact within noninterest income for the foreign exchange revaluation of the associated assets denominated in foreign currency. 

NOTE 11 — FAIR VALUE Fair Value HierarchyBancShares measures certain financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. GAAP also establishes a fair value hierarchy, which prioritizes the inputs to valuation techniques used to measure fair value into three levels. Assets and liabilities are recorded at fair value according to a fair value hierarchy comprised of three levels. The levels are based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy for an asset or liability is based on the lowest level of input significant to the fair value measurement with Level 1 inputs considered highest and Level 3 inputs considered lowest. A brief description of each input level follows:•Level 1 inputs are quoted prices in active markets for identical assets and liabilities.•Level 2 inputs are quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active and inputs other than quoted prices observable for the assets or liabilities and market corroborated inputs.•Level 3 inputs are unobservable inputs for the asset or liability. These unobservable inputs and assumptions reflect the estimates market participants would use in pricing the asset or liability. 

40

Assets and Liabilities Measured at Fair Value - Recurring BasisThe following table presents assets and liabilities measured at fair value on a recurring basis:Assets and Liabilities Measured at Fair Value - Recurring Basisdollars in millionsSeptember 30, 2025TotalLevel 1Level 2Level 3AssetsInvestment securities available for saleU.S. Treasury$13,781 $— $13,781 $— Government agency52 — 52 — Residential mortgage-backed securities17,435 — 17,435 — Commercial mortgage-backed securities3,