Company: FCNCB
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000798941-25-000024
Chunk: 12

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-05-09
Form: 10-Q
Item: Item 1
Chunk 12
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 projecting cash flows over a certain discrete projection period and (ii) discounting those projected cash flows to present value at a rate of return that considers the relative risk of the cash flows and the time value of money.

Refer to the 2024 Form 10-K for descriptions of methods used to determine the estimated fair values and significant assets acquired and liabilities assumed, as presented above. 

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NOTE 3 — INVESTMENT SECURITIESThe following tables include the amortized cost and fair value of investment securities:Amortized Cost and Fair Value - Investment Securities dollars in millions March 31, 2025Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueInvestment securities available for saleU.S. Treasury$13,105 $55 $(10)$13,150 Government agency71 — (2)69 Residential mortgage-backed securities16,905 143 (443)16,605 Commercial mortgage-backed securities3,759 21 (186)3,594 Corporate bonds483 1 (19)465 Municipal bonds17 — — 17 Total investment securities available for sale$34,340 $220 $(660)$33,900 Investment in marketable equity securities$78 $21 $(4)$95 Investment securities held to maturityU.S. Treasury$484 $— $(25)$459 Government agency1,491 — (91)1,400 Residential mortgage-backed securities4,668 17 (595)4,090 Commercial mortgage-backed securities3,378 — (630)2,748 Supranational securities301 — (27)274 Other2 — — 2 Total investment securities held to maturity$10,324 $17 $(1,368)$8,973 Total investment securities$44,742 $258 $(2,032)$42,968 December 31, 2024Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueInvestment securities available for saleU.S. Treasury$13,897 $33 $(27)$13,903 Government agency79 — (2)77 Residential mortgage-backed securities16,161 41 (582)15,620 Commercial mortgage-backed securities3,869 7 (210)3,666 Corporate bonds489