FCNCA's liquidity cushion—nearly a quarter of assets in high-quality liquid form—and an all-digital Direct Bank that can scale deposit-gathering nationally insulate the bank from the funding stress that felled SVB. The improving deposit-to-funding mix and declining uninsured-deposit ratio reduce run risk relative to peers still dependent on wholesale or concentrated uninsured balances.
the thesis · admitted · the reason above is the thesis, not printed twice
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedfour sentences · whole, uncut
the claims it rests on · in our words, not the filing’s