Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 267

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 267
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 with the Shared-Loss Agreement, primarily based on evaluation of historical loss experience and the credit quality of the Covered Assets (as defined in Note 2—Business Combinations in our 2024 Form 10-K).In connection with the SVBB Acquisition, FCB issued a five-year $36.07 billion note payable to the FDIC, maturing March 27, 2028, which was amended and restated on November 20, 2023 (the “Purchase Money Note”). FCB and the FDIC, as lender and as collateral agent, also entered into an Advance Facility Agreement, dated as of the SVBB Acquisition Date, and effective as of November 20, 2023 (the “Advance Facility Agreement”), which provided total advances available through March 27, 2025 of up to $70 billion solely to provide liquidity to offset deposit withdrawal or runoff of former SVBB deposit accounts and to fund the unfunded commercial lending commitments acquired in the SVBB Acquisition. There were no amounts outstanding on the facility at the end of the draw period on March 27, 2025. 

Refer to Note 2—Business Combinations in our 2024 Form 10-K for further discussion of the SVBB Acquisition, Purchase Money Note, and the Advance Facility Agreement. 

11

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 June 30, 2025Amortized CostGross Unrealized GainsGross Unrealized LossesFair ValueInvestment securities available for saleU.S. Treasury$12,125 $50 $(5)$12,170 Government agency62 — (2)60 Residential mortgage-backed securities17,118 196 (390)16,924 Commercial mortgage-backed securities3,695 26 (185)3,536 Corporate bonds364 — (11)353 Municipal bonds17 — — 17 Total investment securities available for sale$33,381 $272 $(593)$33,060 Investment in marketable equity securities$78 $24 $(5)$97 Investment securities held to maturityU.S. Treasury$486 $— $(21)$465 Government agency1,493 — (78)1,415 Residential mortgage-backed securities4,548