Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 403

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 8
Chunk 403
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illion or 3% from $155.23 billion at December 31, 2024. 

We use borrowings to diversify the funding of our business operations. In addition to the Purchase Money Note and FHLB advances, borrowings also include senior unsecured notes, securities sold under customer repurchase agreements, and subordinated notes. Total borrowings at June 30, 2025 were $38.11 billion, an increase of $1.06 billion or 3% from $37.05 billion at December 31, 2024. The increase is primarily due to the Linked Quarter Debt Issuances with aggregate principal amounts totaling $1.25 billion and partially offset by the Current Quarter Debt Redemption with aggregate principal amounts totaling $350 million, as detailed in the “Interest-bearing Liabilities—Borrowings” section of this MD&A. We continually monitor our capital needs and market conditions in an effort to diversify our borrowing base when appropriate.

98

FHLB Capacity 

A source of available funds is advances from the FHLB of Atlanta. We may pledge assets for secured borrowing transactions, which include borrowings from the FHLB and/or FRB, or for other purposes as required or permitted by law. The debt issued in conjunction with these transactions is collateralized by certain discrete receivables, securities, loans, leases and/or underlying equipment. Certain related cash balances are restricted.  

Table 50

FHLB Balances

dollars in millionsJune 30, 2025March 31, 2025December 31, 2024Total borrowing capacity$18,552 $17,992 $17,873 Less:Advances— — — Letters of credit (1)700 1,450 1,450 Available capacity$17,852 $16,542 $16,423 Pledged Non-PCD loans$30,835 $30,112 $30,421 

(1)    Letters of credit were established with the FHLB to collateralize public funds. One of the letters of credit expired during the Current Quarter and was replaced subsequent to June 30, 2025.

FRB Capacity

Under borrowing arrangements with the FRB, FCB has access to $10.56 billion on a secured basis. During the Current Quarter, we pledged additional loan collateral and increased our borrowing capacity under agreements with the FRB. There were no outstanding borrowings