Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 53

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 53
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uations are determined by using appraisals or other third-party value estimates of the subject property with discounts, generally between 7% and 10%, applied for estimated selling costs and other external factors that may impact the marketability of the property. At March 31, 2025 and December 31, 2024, the weighted average discount applied was 8.76% and 9.45%, respectively. Changes to the value of the assets between scheduled valuation dates are monitored through continued communication with brokers and monthly reviews by the asset manager assigned to each asset. If there are any significant changes in the market or the subject property, valuations are adjusted or new appraisals are ordered to ensure the reported values reflect the most current information. 

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Financial Instruments Fair ValueThe table below presents the carrying values and estimated fair values for financial instruments, excluding leases and certain other assets and liabilities for which these disclosures are not required.  Carrying Values and Fair Values of Financial Assets and Liabilitiesdollars in millionsMarch 31, 2025Estimated Fair ValueCarrying ValueLevel 1Level 2Level 3TotalFinancial AssetsCash and due from banks$812 $812 $— $— $812 Interest-earning deposits at banks24,692 24,692 — — 24,692 Securities purchased under agreements to resell345 — 345 — 345 Investment in marketable equity securities95 42 53 — 95 Investment securities available for sale33,900 — 33,732 168 33,900 Investment securities held to maturity10,324 — 8,973 — 8,973 Loans held for sale183 — 70 115 185 Net loans137,692 — 1,491 136,450 137,941 Accrued interest receivable920 — 920 — 920 Federal Home Loan Bank stock20 — 20 — 20 Mortgage servicing rights28 — — 46 46 Derivative assets - qualifying hedges1 — 1 — 1 Derivative assets - non-qualifying hedges552 — 533 19 552 Financial LiabilitiesDeposits with no stated maturity147,330 — 147,330 — 147,330 Time deposits11,995 — 11,986 — 11,