Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 110

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 110
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 securities, net$— $4 $— $4 The following table provides information regarding investment securities available for sale with unrealized losses:Gross Unrealized Losses on Debt Securities Available For Sale dollars in millionsSeptember 30, 2025Less than 12 months12 months or moreTotalFair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesInvestment securities available for saleU.S. Treasury$501 $(1)$400 $(1)$901 $(2)Government agency— — 52 (1)52 (1)Residential mortgage-backed securities403 (1)3,381 (350)3,784 (351)Commercial mortgage-backed securities96 — 1,175 (181)1,271 (181)Corporate bonds1 — 212 (6)213 (6)Total$1,001 $(2)$5,220 $(539)$6,221 $(541)December 31, 2024Less than 12 months12 months or moreTotalFair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesInvestment securities available for saleU.S. Treasury$3,791 $(12)$981 $(15)$4,772 $(27)Government agency— — 77 (2)77 (2)Residential mortgage-backed securities7,470 (61)3,575 (521)11,045 (582)Commercial mortgage-backed securities1,183 (8)1,342 (202)2,525 (210)Corporate bonds16 — 438 (22)454 (22)Total$12,460 $(81)$6,413 $(762)$18,873 $(843)

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As of September 30, 2025, there were 461 investment securities available for sale with continuous unrealized losses for more than 12 months, of which 427 were government sponsored enterprise-issued mortgage-backed securities, government agency securities, or U.S. Treasury securities and the remaining 34 were corporate bonds. BancShares has the ability and intent to retain these securities for a period of time sufficient to recover all unrealized losses. Given the consistently strong credit rating of the U.S. Treasury, and the long history of no credit losses on debt securities issued by government agencies and government sponsored entities, as of September