FCNCA · 10-K filed 24 Feb 2026 · year to 31 Dec 2025

First Citizens Bancshares

32 named things its latest annual report says its results depend on, each in the company's own words. 23 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Customers

Non-depository financial institutions (NDFIs)

insures or lends tonamed as a risk

Our loans and leases include concentrations in non-depository financial institutions (“NDFIs”) and the healthcare and technology industries.Risk factors (Item 1A)

Also named by EWBC

Venture capital and private equity

earns fromnamed as a risk

Our future success depends, in part, upon the continued ability to effectively manage this expanded business while continuing to strengthen our reputation among the venture capital and private equity communities, and other participants in the industries that legacy Silicon Valley Bank served.Risk factors (Item 1A)

Partners and platforms

Federal Home Loan Banks

depends onnamed as a risk

In circumstances where our ability to generate needed liquidity is impaired, we may need to access other sources of funding such as borrowings from the FHLBs and the Federal Reserve, federal funds purchased lines, brokered deposits, or other sources of liquidity including capital market transactions such as securities sold under agreements to repurchase and sale of securities.Risk factors (Item 1A)

Also named by CFG, JPM, KKR

Other companies

BMO Bank N.A.

approximately $5.7 billion in deposit liabilitiesnamed as a risk

In connection with the BMO Branch Acquisition, FCB expects to assume approximately $5.7 billion in deposit liabilities and acquire approximately $1.1 billion in loans.Business (Item 1)

Consumer revolving mortgage junior liens

insures or lends to · Approximately three-quartersnamed as a risk

Approximately three-quarters of the consumer revolving mortgage portfolio is secured by junior lien positions, and lower real estate values for collateral underlying these loans may cause the outstanding balance of the senior lien to exceed the value of the collateral, resulting in a junior lien loan becoming effectively unsecured.Risk factors (Item 1A)

Competitors

Truist Bank

competes with

The three banks larger than FCB based on deposits in South Carolina were Bank of America, Wells Fargo and Truist Bank which collectively held 39.1% of South Carolina deposits.Business (Item 1)

Also named by FHN, GSBD, TSLX

Bank of America

competes with

The two banks larger than FCB based on deposits in North Carolina were Bank of America and Truist Bank which collectively held 63.1% of North Carolina deposits.Business (Item 1)

Also named by ALK, KMX

Places

California

operates in · 72

As of December 31, 2025, FCB had more than 500 total domestic branches and offices, which included 209 in North Carolina, 119 in South Carolina, and 72 in California.Business (Item 1)

Also named by A, AAON, AFRM, ALK, ALLY, AN, ARE, AVAV and 88 more

North Carolina

concentrated in · 11.8%

FCB’s largest notable concentration of deposits by market share as of June 30, 2025 were in North Carolina (including our nationwide Direct Bank deposits) and South Carolina at 11.8% and 9.5%, respectively, which makes FCB the third largest bank in North Carolina and the fourth largest bank in South Carolina based on deposit market share according to the FDIC Deposit Market Share Report.Business (Item 1)

Also named by ABR, AUB, DUK, FHN, GLW, IMKTA, MLM, PNFP and 5 more

South Carolina

concentrated in · 9.5%

Also named by ENPH, ENS, GNRC, IMKTA, PNFP, SSB

Canada

operates innamed as a risk

We also do business in Canada, primarily related to our rail portfolio, and we conduct limited business operations in foreign jurisdictions.Risk factors (Item 1A)

Also named by AAP, AJG, ALL, AMRC, AOS, ARE, BBY, BF/B and 97 more

Hazards

Earthquakes and wildfires

concentrated innamed as a risk

In particular, a significant amount of our business is concentrated in North Carolina, South Carolina, California, Texas, New York, Massachusetts and Florida, including areas where our operational facilities and retail and commercial customers have been and, in the future, could be impacted by hurricanes and flooding, earthquakes, wildfires, and rising sea levels.Risk factors (Item 1A)

Also named by AVAV, ENSG, OKTA

Hurricanes and flooding

concentrated innamed as a risk

Also named by CSX, JBHT

Commodities and inputs

Crude oil and natural gas

exposed to its pricenamed as a risk

A significant downturn in shipping by railcars could negatively impact our Rail segment, and volatility in the price of, and demand for, oil and gas may have negative effects on our loan exposures in the exploration and production section, and could also decrease the demand for our railcars.Risk factors (Item 1A)

Also named by CG, TDY

Railcars and locomotives

exposed to its pricenamed as a risk

Our portfolio includes leased equipment, including, but not limited to, railcars and locomotives, technology and office equipment and medical equipment.Risk factors (Item 1A)

Regulators

Consumer Financial Protection Bureau (CFPB)

subject tonamed as a risk

Under the Dodd-Frank Act, while the CFPB has the primary enforcement authority over FCB as an IDI with over $10 billion in total assets, the FDIC retains backup enforcement authority over IDI’s with over $10 billion in total consolidated assets, and the FDIC is authorized to bring back-up enforcement actions against a holding company of an IDI if the conduct or threatened conduct of such holding company poses a foreseeable and material risk of loss to the DIF.Business (Item 1)

Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more

Federal Deposit Insurance Corporation (FDIC)

subject tonamed as a risk

In addition, although the FDIC provides assistance in the form of loss sharing with respect to losses on certain acquired loans, if the covered loans are not managed in accordance with the commercial shared loss agreement, the FDIC has the right to refuse or delay payment for loan losses, which could have an adverse effect on our business, financial condition, results of operations and prospects.Risk factors (Item 1A)

Also named by AFRM, BAC, BNY, CASH, CFG, CFR, COF, FCFS and 27 more

Federal Reserve

subject tonamed as a risk

As a Category IV banking organization, BancShares is required to submit an annual capital plan to the Federal Reserve and is subject to biennial supervisory stress testing by the Federal Reserve under its Comprehensive Capital Analysis and Review (“CCAR”) process.Business (Item 1)

Also named by AGNC, AUB, AXP, BAC, CASH, COF, DX, EFSC and 24 more

Federal Railroad Administration

subject tonamed as a risk

In the United States, our equipment financing and leasing operations, including for our portfolio of railcars, maritime lending and other equipment financing and leasing, are subject to rules and regulations relating to safety, operations, maintenance and mechanical standards promulgated by various federal and state agencies and industry organizations, including the U.S. Department of Transportation, the Federal Railroad Administration, the Association of American Railroads, the Maritime Administration, the U.S. Coast Guard, and the U.S. Environmental Protection Agency.Risk factors (Item 1A)

Also named by CP, CSX, HESM, NSC, UNP, WAB

North Carolina Office of the Commissioner of Banks

subject to

FCB, as a North Carolina state-charted bank that is not a member of the Federal Reserve, is also subject to the laws and regulations of North Carolina and supervision by the North Carolina Office of the Commissioner of Banks, as well as other state laws and state regulators in the states in which FCB operates.Business (Item 1)

Laws and programs

FDIC special assessment

subject to · $64 millionnamed as a risk

We previously accrued an initial FDIC insurance special assessment charge of $64 million in 2023, and an additional charge of approximately $11 million during 2024 due to higher losses than originally estimated to the DIF.Business (Item 1)

Also named by BPOP, CFG, CFR, CUBI, EFSC, EWBC, GBCI, HBAN and 10 more

FDIC Purchase Money Note

approximately $36.07 billionnamed as a risk

In connection with the SVBB Acquisition, FCB issued a five-year note of approximately $35 billion payable to the FDIC (the “Purchase Money Note”) due March 2028, which was subsequently amended and restated to adjust the principal amount to approximately $36.07 billion.Risk factors (Item 1A)

Community Reinvestment Act

subject to · $6.5 billion

Under the addendum, FCB committed to a $6.5 billion community benefit target with the following components: $2.25 billion in small business lending, $3.6 billion in CRA development lending and investing, and $650 million in residential mortgages to LMI borrowers and in selected LMI census tracts.Business (Item 1)

Also named by ALLY, AMP, AUB, CFG, CFR, EFSC, EWBC, FHN and 20 more

U.S. IEEPA tariffs

named as a risk

The U.S. government announced changes to its trade policies in 2025 and significantly increased tariffs on certain imports under emergency authorities, including the International Emergency Economic Powers Act (“IEEPA”).Risk factors (Item 1A)

Also named by CAH, FSLR, MCHP, RL, SOLV, TGT, VFC

Basel III Endgame

subject tonamed as a risk

The federal banking agencies have announced plans to propose enhanced capital requirements for large banking organizations in connection with the finalization of the implementation of Basel III Endgame.Risk factors (Item 1A)

Also named by CME, GBCI, ICE, PNFP, USB

Tailoring Rules

subject tonamed as a risk

BancShares is subject to the enhanced prudential standards under the Tailoring Rules as a Category IV banking organization.Business (Item 1)

Also named by CFG, FITB

Main Street Depositor Protection Act

subject tonamed as a risk

In November 2025, the bipartisan Main Street Depositor Protection Act was introduced in the U.S. Senate, which would increase FDIC coverage for non-interest-bearing deposit accounts from $250,000 to $10 million, as well as increase the FDIC premiums paid by IDIs.Business (Item 1)

GENIUS Act

subject to

The GENIUS Act is expected to become effective in late 2026 or early 2027.Business (Item 1)

Also named by AUB, C, CFR, COF, COIN, CUBI, EWBC, FISV and 15 more

California Climate Corporate Data Accountability Act

subject to

BancShares is subject to, and may in the future be subject to additional, state laws relating to climate, including, but not limited to, the California’s Climate Corporate Data Accountability Act (the “California CCDAA”) and Climate-Related Financial Risk Act (the “California CFRA”).Business (Item 1)

Also named by ALL, BBSI, CMG, DKS, PTC, TSCO

CIDI Rule

subject to

FCB is required to submit a full resolution plan (“Resolution Plan”) to the FDIC under the Covered Insured Depository Institution rule (“CIDI Rule”).Business (Item 1)

Edge Act

subject to

FC International is subject to supervision and regulation by the Federal Reserve, including examination, reporting, capital, and the BSA and AML requirements pursuant to the Edge Act and the Federal Reserve’s Regulation K.Business (Item 1)

Technology

Stablecoins

competes withnamed as a risk

If the stablecoin market significantly expands and matures, it could pose a disintermediation risk to banks by attracting deposits away from traditional checking and savings accounts into digital assets, and/or reduce fee income for banks.Business (Item 1)

Also named by BAC, CPAY, EWBC, KEY