8-KOther EventsExhibits & Filings

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Corporate Update (Mar 3, 2026)

Filed March 3, 2026For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares, Inc. (FCNCA) announced the successful completion of a public offering, issuing $500 million in aggregate principal amount of 4.869% Fixed-to-Floating Rate Senior Notes due 2032. This offering was conducted under an existing registration statement and utilized a prospectus supplement dated February 25, 2026. The net proceeds from this issuance will be used for general corporate purposes, providing the company with additional capital to support its strategic initiatives and operational needs. This debt issuance represents a strategic move to strengthen the company's balance sheet and enhance its financial flexibility. The fixed-to-floating rate structure may offer advantages depending on future interest rate movements. Investors in these senior notes are essentially lending to the company, receiving a specified interest rate in return. The company's ability to raise this significant amount of capital underscores its perceived financial stability and market confidence.

Key Highlights

  • 1First Citizens BancShares Inc. successfully issued $500 million in 4.869% Fixed-to-Floating Rate Senior Notes due 2032.
  • 2The issuance was a public offering conducted under an existing Form S-3 registration statement.
  • 3The Notes were issued pursuant to a senior base indenture and a second supplemental indenture.
  • 4Key underwriters for the offering included J.P. Morgan Securities LLC, BofA Securities, Inc., and Wells Fargo Securities, LLC.
  • 5The senior notes have a maturity date in 2032 and bear a fixed interest rate that converts to a floating rate.
  • 6This issuance provides the company with additional capital for general corporate purposes.
  • 7The filing includes exhibits such as the Underwriting Agreement and the Second Supplemental Indenture.

Frequently Asked Questions

This 8-K filing is primarily to report on the significant corporate event of issuing $500 million in senior notes. It also serves to file important related documents, such as the underwriting agreement and supplemental indenture, as exhibits to the company's registration statement.

The Notes have an aggregate principal amount of $500,000,000, carry a coupon of 4.869% (fixed-to-floating rate), and mature in 2032. They were issued under a senior base indenture, as amended and supplemented by a second supplemental indenture.

The proceeds from the issuance of the Notes are intended for general corporate purposes. This typically includes funding business operations, strategic initiatives, potential acquisitions, or strengthening the company's capital base.

The lead underwriters, acting as representatives of the several underwriters, are J.P. Morgan Securities LLC, BofA Securities, Inc., and Wells Fargo Securities, LLC.