Company: FCNCB
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0000798941-25-000050
Chunk: 141

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-07
Form: 10-Q
Item: Item 1
Chunk 141
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, respectively.

38

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 September 30,Nine Months Ended September 30,Interest Expense2025202420252024Gain (loss) on hedging instruments - time depositsDeposits$— $2 $— $1 Gain (loss) on hedging instruments - borrowingsBorrowings— 4 — (2)Gain (loss) on hedged item - time depositsDeposits1 (3)1 (2)Gain (loss) on hedged item - borrowingsBorrowings— (5)2 — Net gain on fair value hedgesTotal interest expense$1 $(2)$3 $(3)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 DesignatedSeptember 30, 2025Long-term borrowings$217 $— $— Deposits134 — — December 31, 2024Long-term borrowings795 2 — Deposits335 1 — Cash Flow Hedges The following table presents the pretax unrealized gain on hedging instruments in cash flow hedges, which are reported in other comprehensive income, and the pretax amount reclassified from accumulated other comprehensive income (“AOCI”) to earnings:Unrealized Gain on Cash Flow Hedges dollars in millionsThree Months Ended September 30,Nine Months Ended September 30,2025202420252024Other comprehensive income on cash flow hedge derivatives before reclassifications$(2)$14 $10 $17 Amounts reclassified from AOCI to earnings— 2 (4)2 Other comprehensive income on cash flow hedge derivatives$(2)$16 $6 $19 The following table presents other information for cash flow hedges:Other Information for Cash Flow Hedgesdollars in millionsSeptember 30, 2025December 31, 2024Unrealized gain on cash flow hedge derivatives reported in AOCI, net of income taxes$13 $