Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 63

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 63
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 Note and the accrued interest on the Advance Facility Agreement. Interest on any outstanding principal amount accrues at a variable rate equal to the three-month weighted average of the Daily Simple SOFR plus 25 bps (but in no event less than 0.00%). The facility had a current capacity of $5.29 billion and was not utilized as of December 31, 2024. 

Refer to Note 2—Business Combinations for further discussion.

Contractual Obligations and Commitments 

The following table includes significant contractual obligations and commitments as of December 31, 2024, representing required and potential cash outflows, including impacts from purchase accounting adjustments and deferred fees. Refer to Note 23—Commitments and Contingencies for additional information regarding commitments. Financing commitments, letters of credit and deferred purchase commitments are presented at contractual amounts and do not necessarily reflect future cash outflows, as many are expected to expire unused or partially used. 

88

Table 46

Contractual Obligations and Commitments

dollars in millionsPayments Due by PeriodLess than 1 year1-3 years4-5 yearsThereafterTotalContractual obligations:Time deposits (1)$12,724 $484 $45 $— $13,253 Short-term borrowings367 — — — 367 Long-term borrowings (1)(2)(36)(78)36,381 417 36,684 Total contractual obligations$13,055 $406 $36,426 $417 $50,304 Commitments:Financing commitments$29,752 $15,278 $1,711 $6,509 $53,250 Letters of credit1,669 598 18 6 2,291 Deferred purchase agreements1,802 — — — 1,802 Purchase and funding commitments178 — — — 178 Affordable housing partnerships (1)558 579 30 47 1,214 Total commitments$33,959 $16,455 $1,759 $6,562 $58,735 

(1)    Time deposits and long-term borrowings are presented net of purchase accounting adjustments of $1 million and $125 million, respectively. On-balance sheet commitments for affordable housing partnerships are included in other liabilities and presented net of a purchase accounting adjustment of $33 million.

(