10-QPeriod: Q2 FY2002

FIRST CITIZENS BANCSHARES INC /DE/ Quarterly Report for Q2 Ended Jun 30, 2002

Filed August 13, 2002For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares Inc./DE/ (FCNCA) filed its 10-Q for the period ended June 30, 2002. This filing provides unaudited financial statements and management's discussion and analysis of its financial condition and results of operations. Key financial details for the period, including balance sheets and statements of income, cash flows, and changes in shareholders' equity, are presented. Investors can review the company's performance and financial health during the second quarter of 2002, as well as the first half of the year, against prior periods. The report also details the outcomes of the Annual Meeting of Shareholders held on April 22, 2002. Shareholders voted on the election of directors and the appointment of independent public accountants. The results indicate strong shareholder support for the nominated directors and the appointment of KPMG LLP as the company's auditor for 2002, reflecting confidence in the company's governance and oversight.

Key Highlights

  • 1The 10-Q filing provides unaudited financial statements for the quarter and six months ended June 30, 2002, including consolidated balance sheets, statements of income, changes in shareholders' equity, and cash flows.
  • 2Shareholders overwhelmingly supported the re-election of all nominated directors at the April 22, 2002 Annual Meeting.
  • 3KPMG LLP was appointed as the independent public accountant for 2002 with significant shareholder approval.
  • 4No Form 8-K reports were filed during the quarter ended June 30, 2002, indicating no significant material events requiring immediate disclosure.
  • 5The filing includes a Market Risk Disclosure, providing insights into the company's exposure to market fluctuations.
  • 6Detailed notes to the consolidated financial statements are provided, offering further context and explanation for the financial figures presented.

Frequently Asked Questions

This filing includes unaudited Consolidated Balance Sheets as of June 30, 2002, December 31, 2001, and June 30, 2001. It also contains Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2002 and June 30, 2001, Consolidated Statements of Changes in Shareholders' Equity for the six-month periods ended June 30, 2002, and June 30, 2001, and Consolidated Statements of Cash Flows for the six-month periods ended June 30, 2002, and June 30, 2001.

At the Annual Meeting of Shareholders on April 22, 2002, shareholders voted to elect all nominated directors. The vote tallies show substantial 'FOR' votes for each nominee, with a significantly smaller number of 'WITHHELD' votes, indicating strong shareholder confidence in the board's composition.

Yes, shareholders voted to appoint KPMG LLP as BancShares' independent public accountant for 2002. The vote was overwhelmingly in favor, with 31,845,812 'FOR' votes compared to 59,105 'AGAINST' votes and 129,113 abstentions.

No, according to the filing, First Citizens BancShares Inc./DE/ did not file any Current Reports on Form 8-K during the quarter ended June 30, 2002. This suggests no material events requiring immediate public disclosure took place during that period.