Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 144

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 144
---
 in millionsDecember 31, 2024TotalLevel 1Level 2Level 3AssetsInvestment securities available for saleU.S. Treasury$13,903 $— $13,903 $— Government agency77 — 77 — Residential mortgage-backed securities15,620 — 15,620 — Commercial mortgage-backed securities3,666 — 3,666 — Corporate bonds467 — 299 168 Municipal bonds17 — 17 — Total investment securities available for sale$33,750 $— $33,582 $168 Marketable equity securities101 48 53 — Loans held for sale55 — 55 — Derivative assets (1)Total qualifying hedge assets$1 $— $1 $— Interest rate contracts — non-qualifying hedges$491 $— $490 $1 Foreign exchange contracts — non-qualifying hedges152 — 152 — Other derivative contracts — non-qualifying hedges16 — — 16 Total non-qualifying hedge assets$659 $— $642 $17 Total derivative assets$660 $— $643 $17 LiabilitiesDerivative liabilities (1)Interest rate contracts — qualifying hedges$— $— $— $— Interest rate contracts — non-qualifying hedges$516 $— $516 $— Foreign exchange contracts — non-qualifying hedges108 — 108 — Other derivative contracts — non-qualifying hedges1 — — 1 Total non-qualifying hedge liabilities$625 $— $624 $1 Total derivative liabilities$625 $— $624 $1 (1)     Derivative fair values include accrued interest. The methods and assumptions used to estimate the fair value of each class of financial instruments measured at fair value on a recurring basis are as follows:Investment securities available for sale. The fair value of U.S. Treasury, government agency, mortgage-backed securities, municipal bonds, and a portion of the corporate bonds are generally estimated using a third-party pricing service. To obtain an understanding of the processes and methodologies used, management reviews correspondence from the third-party pricing service. Management also performs a price variance analysis process to corroborate the reasonableness