8-KEarnings & ResultsRegulation FDExhibits & Filings

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Oct 16, 2020)

Filed October 16, 2020For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

This 8-K filing from First Citizens BancShares (FCNCA) on October 16, 2020, primarily serves to announce the company's financial results for the quarter ended September 30, 2020, and to provide updates regarding a significant proposed transaction with CIT Group Inc. ("CIT"). The company has provided a press release and investor presentation, incorporated by reference, detailing these results and the strategic implications of the merger. Key information for investors includes the company's financial performance for the most recent quarter and important details surrounding the pending acquisition of CIT. The filing also notes the cancellation of a previously scheduled conference call and the scheduling of a new one on the same day to discuss both the quarterly results and the CIT transaction. Investors are directed to these furnished materials for comprehensive information, with a disclaimer that this information is not deemed 'filed' under Section 18 of the Exchange Act.

Key Highlights

  • 1First Citizens BancShares announced its financial results for the quarter ended September 30, 2020.
  • 2The company is undergoing a proposed transaction with CIT Group Inc. ('CIT').
  • 3A conference call was scheduled for October 16, 2020, at 8:00 a.m. ET to discuss both quarterly results and the CIT transaction.
  • 4A previously scheduled conference call for October 28, 2020, has been cancelled.
  • 5Press release (Exhibit 99.1) and investor presentation (Exhibit 99.2) dated October 16, 2020, are furnished and incorporated by reference.
  • 6The filing includes extensive forward-looking statements and risk factors associated with the CIT transaction and broader economic conditions, including the impact of the COVID-19 pandemic.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce First Citizens BancShares' financial results for the quarter ended September 30, 2020, and to provide information related to its proposed transaction with CIT Group Inc. It incorporates by reference a press release and an investor presentation containing these details.

First Citizens BancShares is undergoing a proposed transaction to acquire CIT Group Inc. This is a major strategic move that is discussed alongside the company's quarterly financial results in this filing.

More detailed information can be found in the Press Release (Exhibit 99.1) and the Investor Presentation (Exhibit 99.2) attached to this 8-K filing. These documents were furnished and incorporated by reference, and are available on BancShares' Internet site.

No, according to General Instruction B.2 of Form 8-K, the information presented under Item 2.02 and Item 7.01, including the attached exhibits, is not deemed 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into other SEC filings unless expressly stated.