10-QPeriod: Q2 FY2001

FIRST CITIZENS BANCSHARES INC /DE/ Quarterly Report for Q2 Ended Jun 30, 2001

Filed August 15, 2001For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares Inc./DE/ (FCNCA) filed its 10-Q for the period ending June 30, 2001, providing a snapshot of its financial health and operational highlights during the second quarter. The filing includes unaudited financial statements, offering investors a look at the company's balance sheet, income statement, and cash flows. Management's Discussion and Analysis (MD&A) delves into the company's financial condition and the factors influencing its results of operations, which is crucial for understanding performance drivers and strategic direction. Key investor-relevant information presented includes shareholder voting results on director elections and the appointment of independent auditors, indicating shareholder engagement and corporate governance practices. Additionally, a Form 8-K filing addressing merger speculation was disclosed, suggesting market interest and potential strategic developments surrounding the company. Investors should review the detailed financial statements and MD&A to assess the company's performance trends, asset quality, and profitability in the context of the economic environment at the time.

Key Highlights

  • 1The 10-Q filing covers the unaudited financial results for the three-month and six-month periods ended June 30, 2001.
  • 2Consolidated Balance Sheets, Statements of Income, Statements of Changes in Shareholders' Equity, and Statements of Cash Flows are provided for investor analysis.
  • 3Management's Discussion and Analysis (MD&A) offers insights into the company's financial condition and operational results for the period.
  • 4Shareholder voting results from the April 23, 2001 Annual Meeting are detailed, including the election of directors and the appointment of KPMG LLP as independent accountants.
  • 5All director nominees received a substantial majority of "For" votes, indicating shareholder confidence in the board.
  • 6The appointment of KPMG LLP as independent public accountants for 2001 was overwhelmingly approved by shareholders.
  • 7A Form 8-K filing on March 1, 2001, addressed merger speculation, indicating active market interest or discussion around the company's strategic future.

Frequently Asked Questions

This 10-Q filing provides the Securities and Exchange Commission (SEC) and investors with First Citizens BancShares Inc./DE/'s unaudited financial results and a discussion of its financial condition and results of operations for the quarterly period ending June 30, 2001. It allows for a mid-year review of the company's performance and financial standing.

The filing details the outcomes of shareholder votes from the Annual Meeting held on April 23, 2001. This includes the election of directors, where all nominees received strong support, and the appointment of KPMG LLP as the independent public accountants for 2001, which was also overwhelmingly approved.

Yes, the filing notes that a Form 8-K was filed on March 1, 2001, which addressed merger speculation. This suggests that the company was subject to market rumors or discussions concerning potential mergers during the reporting period.

Detailed financial performance data can be found in the 'Financial Statements (Unaudited)' section, which includes the Consolidated Balance Sheets, Statements of Income, Statements of Changes in Shareholders' Equity, and Statements of Cash Flows for the relevant periods. The 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section provides further context and explanation of these financial results.