8-KEarnings & ResultsRegulation FDExhibits & Filings

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Jan 26, 2021)

Filed January 26, 2021For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares Inc. (FCNCA) filed an 8-K on January 26, 2021, to announce its financial results for the fourth quarter and full year ended December 31, 2020. The filing incorporates by reference a press release (Exhibit 99.1) detailing these results. Additionally, the company announced a conference call scheduled for January 27, 2021, to discuss these results, with accompanying investor presentation materials provided as Exhibit 99.2. Investors should note that the information furnished in this 8-K, including the press release and presentation, is not considered "filed" for regulatory purposes under Section 18 of the Securities Exchange Act of 1934, meaning it does not carry the same legal implications as formally filed documents. The filing also includes extensive forward-looking statements and risk factors, particularly concerning the proposed transaction with CIT, detailing potential challenges and uncertainties related to integration, regulatory approvals, and market conditions.

Key Highlights

  • 1Announcement of Q4 and Full Year 2020 financial results via press release (Exhibit 99.1).
  • 2Scheduled conference call on January 27, 2021, to discuss financial results, with investor presentation materials (Exhibit 99.2) provided.
  • 3Information furnished under Items 2.02 and 7.01 is not deemed "filed" for Section 18 purposes.
  • 4Extensive discussion of forward-looking statements and associated risks.
  • 5Significant emphasis on risks and uncertainties related to the proposed transaction with CIT, including integration challenges, cost savings realization, and potential disruptions.
  • 6Mention of COVID-19 pandemic's impact on business and the proposed transaction.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce First Citizens BancShares Inc.'s financial results for the fourth quarter and full year ended December 31, 2020, and to provide access to the related press release and investor presentation materials.

First Citizens BancShares Inc. held a conference call on January 27, 2021, at 9:00 am Eastern Time to discuss its financial results for the quarter ended December 31, 2020.

No, the information furnished in this 8-K under Items 2.02 and 7.01, including the press release and investor presentation, is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934. This means it generally does not carry the same legal liability as formally filed documents.

The filing highlights numerous risks related to the proposed transaction with CIT, including but not limited to: the possibility that expected cost savings and synergies may not be realized or may take longer than anticipated, disruption to businesses from the announcement and pendency of the transaction, difficulties in integrating operations, failure to obtain necessary approvals, potential legal proceedings, and the impact of economic and market conditions, as well as the ongoing COVID-19 pandemic.