Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 193

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 8
Chunk 193
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The 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 — 11,986 Credit balances of factoring clients1,145 — — 1,145 1,145 Securities sold under customer repurchase agreements450 — 450 — 450 Long-term borrowings37,920 — 37,714 — 37,714 Accrued interest payable107 — 107 — 107 Derivative liabilities - qualifying hedges— — — — — Derivative liabilities - non-qualifying hedges541 — 540 1 541 December 31, 2024Estimated Fair ValueCarrying ValueLevel 1Level 2Level 3TotalFinancial AssetsCash and due from banks$814 $814 $— $— $814