Company: FCNCB
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000798941-25-000010
Chunk: 200

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 200
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3Notional AmountAsset Fair ValueLiability Fair ValueNotional AmountAsset Fair ValueLiability Fair ValueDerivatives designated as hedging instruments (Qualifying hedges)Fair Value HedgesInterest rate contracts hedging time deposits$334 $— $— $— $— $— Interest rate contracts hedging long-term borrowings750 — — 815 — — Total fair value hedges (1) (4)1,084 — — 815 — — Cash Flow HedgesInterest rate contracts hedging loans (1) (4)3,500 1 — — — — Total derivatives designated as hedging instruments$4,584 $1 $— $815 $— $— Derivatives not designated as hedging instruments (Non-qualifying hedges)Interest rate contracts (1) (4)$26,235 $491 $(516)$24,548 $530 $(518)Foreign exchange contracts (2)7,843 152 (108)9,142 104 (117)Other contracts (3)1,316 16 (1)983 6 (1)Total derivatives not designated as hedging instruments$35,394 $659 $(625)$34,673 $640 $(636)Gross derivatives fair values presented in the Consolidated Balance Sheets$660 $(625)$640 $(636)Less: gross amounts offset in the Consolidated Balance Sheets— — — — Net amount presented in other assets and other liabilities in the Consolidated Balance Sheets660 (625)640 (636)Less: amounts subject to master netting agreements (5)(48)48 (97)97 Less: cash collateral pledged (received) subject to master netting agreements (6)(539)2 (405)39 Total net derivative fair value$73 $(575)$138 $(500)(1)    Fair value balances include accrued interest.(2)    The foreign exchange contracts exclude foreign exchange spot contracts. The notional and net fair value amounts of these contracts were $177 million and $0 million, respectively, as of December 31, 2024, and $179 million and $0 million, respectively, as of December 31, 2023. (3)    Other derivative contracts not designated as hedging instruments include risk participation