8-KEarnings & ResultsCorporate ChangesRegulation FD+1

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Jan 28, 2020)

Filed January 28, 2020For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

This 8-K filing from First Citizens BancShares, Inc. (FCNCA) on January 28, 2020, primarily serves to announce the company's financial results for the year ended December 31, 2019, via an accompanying press release. While the detailed financial figures are within the referenced press release (Exhibit 99.1), this report highlights that the company is formally disclosing these operational and financial outcomes. Investors should refer to the press release for specifics on revenue, net income, earnings per share, and other key performance indicators for 2019. Additionally, the filing details amendments made to the company's Financial Officers Code of Ethics. These updates, approved by the Board of Directors, aim to clarify and strengthen the responsibilities of key financial personnel regarding public disclosures, enhance the anti-retaliation policy for reporting violations, refine disciplinary actions for code breaches, and improve procedures for waivers of the code. These changes reflect a commitment to robust corporate governance and ethical conduct, particularly concerning financial reporting and transparency.

Key Highlights

  • 1Announcement of 2019 year-end financial and operational results via press release (Exhibit 99.1).
  • 2Amendments approved for the Financial Officers Code of Ethics.
  • 3Enhancements to the Code include clarified responsibilities for public disclosures.
  • 4Strengthened policy against retaliation for reporting violations of the Code.
  • 5Revised procedures for disciplinary actions and waivers related to the Code.
  • 6The filing emphasizes the company's commitment to corporate governance and ethical standards.

Frequently Asked Questions

The detailed financial results for the year ended December 31, 2019, are provided in the press release attached as Exhibit 99.1 to this 8-K filing. Investors should review this press release for specific figures and performance metrics.

The amendments to the Code clarify and enhance the responsibilities of financial officers concerning public disclosures, strengthen the company's policy against retaliation for reporting violations, refine procedures for disciplinary actions for code breaches, and update requirements for waivers of the Code.

The Code applies to First Citizens' Chief Executive Officer, Chief Financial Officer, and certain other designated financial officers within the company and its subsidiaries.

This particular 8-K filing focuses on the disclosure of 2019 financial results and amendments to the Code of Ethics. It does not explicitly detail new strategic initiatives or major business updates outside of these two areas. For such information, investors should refer to other filings or company communications.