Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 46

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 46
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 be applied in settlement of the net balances upon an event of default of one of the counterparties. Collateral pledged or received is included in other assets or deposits, respectively.Fair Value HedgesThe following table presents the impact of fair value hedges recorded in interest expense on the Consolidated Statements of Income:Recognized Gains (Losses) on Fair Value Hedgesdollars in millionsThree Months Ended March 31,Interest Expense20252024Gain (loss) on hedging instruments - time depositsDeposits$— $— Loss on hedging instruments - borrowingsBorrowings— (5)Gain (loss) on hedged item - time depositsDeposits— — Gain on hedged item - borrowingsBorrowings1 5 Net gain on fair value hedgesTotal interest expense$1 $— The following table presents the carrying value of hedged items and associated cumulative hedging adjustment related to fair value hedges:Carrying Value of Hedged Itemsdollars in millionsCumulative Fair Value Hedging Adjustment Included in the Carrying Value of Hedged ItemsCarrying Value of Hedged ItemsCurrently DesignatedNo Longer DesignatedMarch 31, 2025Long-term borrowings$441 $1 $— Deposits134 — — December 31, 2024Long-term borrowings795 2 — Deposits335 1 — 

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Cash Flow Hedges The following table presents the pretax unrealized gain on hedging instruments in cash flow hedges, which are reported in other comprehensive income, and the pretax amount reclassified from accumulated other comprehensive income (“AOCI”) to earnings:Unrealized Gain on Cash Flow Hedges dollars in millionsThree Months Ended March 31,20252024Other comprehensive income on cash flow hedge derivatives before reclassifications$12 $— Amounts reclassified from AOCI to earnings(3)— Other comprehensive income on cash flow hedge derivatives$9 $— The following table presents other information for cash flow hedges:Other Information for Cash Flow Hedgesdollars in millionsMarch 31, 2025December 31, 2024Unrealized gain on cash flow hedge derivatives reported in AOCI, net of income taxes$15 $8 Estimate to be reclassified from AOCI to earnings during the next 12 months, net of income taxes (1)$7 $7 Maximum number