FCNCA SEC Filings

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a solid second quarter for 2026, with net income available to common stockholders reaching $640 million, a significant 26% increase from the prior quarter, driven by improved net interest income and higher noninterest income. Total assets grew to $236.8 billion, supported by a substantial increase in deposits to $173.4 billion. The company continued its proactive debt management, prepaying $2.5 billion on the FDIC Purchase Money Note. Key operational highlights include a decrease in the allowance for loan and lease losses (ALLL) driven by model enhancements and improved credit quality, leading to a benefit for credit losses of $10 million. The company also saw strong performance in its Commercial Bank segment, which reported a 47% increase in net income quarter-over-quarter. While the Rail segment experienced a slight dip in sequential quarterly income, the overall financial health remains robust, with capital ratios comfortably exceeding regulatory requirements.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on July 23, 2026, to announce its financial results for the quarter ended June 30, 2026. The filing includes a press release (Exhibit 99.1) and a financial supplement (Exhibit 99.3) detailing the company's performance. Additionally, an investor presentation (Exhibit 99.2) will be used during a conference call scheduled for 9 a.m. Eastern time on the same day to discuss these results. Investors should note that the information furnished in this 8-K, including the exhibits, is not considered "filed" under the Securities Exchange Act of 1934, meaning it does not carry the same liability as formally filed documents. However, the attached exhibits provide crucial details on the company's operational and financial condition for the most recent quarter, offering insights into its performance and strategic outlook. Forward-looking statements within these documents are subject to various risks and uncertainties, as detailed in the filing.

First Citizens BancShares, Inc. /de/ (FCNCA) reported solid financial results for the first quarter of 2026. Net income available to common stockholders increased by 9% year-over-year to $508 million, or $42.63 per diluted share, driven by a decrease in the provision for credit losses and an increase in noninterest income. The bank's balance sheet saw significant growth, with total assets reaching $235.96 billion, up 2.8% from the prior quarter. Deposits increased by 5.7% to $170.84 billion, bolstered by growth across all segments, particularly in the Commercial Bank and Corporate segments. Borrowings decreased by 5.7% to $33.96 billion, mainly due to prepayments on the FDIC Purchase Money Note and the issuance of new senior unsecured notes. The bank maintained strong capital ratios, well exceeding regulatory requirements, indicating a robust financial position. Management remains focused on managing interest rate risk and liquidity, with significant holdings in high-quality liquid assets and available borrowing capacity, positioning the company for continued stability and growth.

This 8-K filing by First Citizens BancShares, Inc. (FCNCA) details the outcomes of its 2026 Annual Stockholder's Meeting held on May 4, 2026. The key takeaway for investors is the overwhelming approval of routine corporate governance matters. All 12 director nominees were elected, and the "say-on-pay" advisory resolution to approve executive compensation passed comfortably. Furthermore, the appointment of KPMG LLP as the company's independent auditor for 2026 was ratified with strong support. Notably, a stockholder proposal requesting a report on faith-based employee resource groups was not approved by the majority of shareholders. This suggests that while the company's established governance structure and executive compensation practices have shareholder backing, there is less consensus on this specific social and governance initiative.

First Citizens BancShares, Inc. (FCNCA) has filed a Form 8-K on April 23, 2026, to report its financial results for the quarter ended March 31, 2026. This filing includes the official earnings release (Exhibit 99.1) and a supplementary financial document (Exhibit 99.3), providing detailed operational and financial condition information. Additionally, an investor presentation (Exhibit 99.2) will be used during a conference call scheduled for the same day to discuss these results. While the specific financial figures and performance metrics are contained within the referenced exhibits, the filing signifies the formal disclosure of the company's quarterly performance. Investors should refer to the attached press release and financial supplement for comprehensive details on revenue, profitability, asset quality, and other key performance indicators for the first quarter of 2026. The company also reiterated forward-looking statements, highlighting a range of potential risks and uncertainties that could impact future financial results.

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.

First Citizens BancShares, Inc. (FCNCA) reported its annual results for the fiscal year ending December 31, 2025. The company experienced a notable decrease in net income to $2.21 billion from $2.78 billion in the prior year, largely attributed to lower net interest income and increased noninterest expense, partially offset by higher noninterest income and a lower income tax provision. Total assets grew to $229.70 billion, supported by a 4% increase in total deposits to $161.58 billion, with noninterest-bearing deposits representing a healthy 25.2% of the total. The company continues to execute its share repurchase program, having repurchased $3.03 billion of its Class A common stock during 2025. Strategically, FCNCA announced an agreement to acquire 138 branches from BMO Bank N.A., expected to close in the second half of 2026, which will expand its footprint in the Midwest, Great Plains, and Western U.S. The company maintained strong capital ratios, exceeding regulatory requirements, and ended the year with a total risk-based capital ratio of 13.71%.

First Citizens BancShares, Inc. /DE/ (FCNCA) has filed an 8-K report detailing the establishment and successful closing of a public offering for its new 6.625% Non-Cumulative Perpetual Preferred Stock, Series E. This new series of preferred stock, represented by 16,000,000 depositary shares each representing a 1/40th interest, was issued under an underwriting agreement with several major financial institutions. The issuance aims to bolster the company's capital structure and provides investors with a fixed dividend rate for the initial five years, after which it will convert to a floating rate plus a spread. This preferred stock ranks on par with other existing preferred stock series and senior to the common stock regarding dividends and liquidation preferences.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on January 23, 2026, to announce its financial results for the fourth quarter and full year ended December 31, 2025. The filing includes a press release (Exhibit 99.1), an investor presentation (Exhibit 99.2), and a financial supplement (Exhibit 99.3). These documents provide detailed insights into the company's performance and strategic outlook. The company also announced a conference call scheduled for the same day to discuss these results, indicating a proactive approach to investor communication. Investors should pay close attention to the exhibits for a comprehensive understanding of the financial performance and any forward-looking statements the company has made. While this 8-K primarily serves as a notification and disclosure of material information, it underscores the company's commitment to transparency. The inclusion of extensive exhibits suggests that detailed financial data and management's commentary on the company's performance, strategic initiatives, and outlook are being provided. Investors are encouraged to review these attached documents for specific financial figures, operational updates, and potential risks and opportunities discussed by First Citizens BancShares.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report to announce a significant leadership transition within its risk management function. Lorie K. Rupp, the current Chief Risk Officer (CRO), has informed the company of her intention to retire effective June 1, 2026. This planned retirement signals a shift in the oversight of the company's risk framework. In preparation for Ms. Rupp's departure, Tom Eklund, the current Treasurer, is slated to assume the role of Chief Risk Officer upon Ms. Rupp's retirement. This appointment suggests an internal succession plan is in place, leveraging existing leadership to maintain continuity in this critical area. Investors should monitor the transition and the strategic direction Mr. Eklund will bring to risk management.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K to report the establishment and successful closing of a public offering for a new series of preferred stock: the 7.000% Non-Cumulative Perpetual Preferred Stock, Series D. This new series, represented by depositary shares, establishes 500,000 depositary shares each representing a 1/100th ownership interest in a share of Series D Preferred Stock, with a liquidation preference of $100,000 per share. The issuance is structured to bolster the company's capital structure, with dividends initially set at a fixed 7.000% per annum until December 2030, after which it will reset to a floating rate based on the five-year Treasury rate plus a spread of 3.301%.

First Citizens BancShares, Inc. (FCNCA) reported solid financial results for the quarter ending September 30, 2025. Net income was $568 million, a slight decrease of 1% from the previous quarter but down 11.2% year-over-year. Despite a notable increase in the provision for credit losses, particularly due to a significant charge-off on a single client, the bank saw growth in net interest income and noninterest income. Loan growth was observed across most segments, with notable expansion in Global Fund Banking. Deposit growth was robust, particularly in noninterest-bearing deposits and within the Direct Bank and SVB Commercial segments, contributing to a strong liquidity position. The company also announced a pending acquisition of 138 branches from BMO Bank, expected to close in mid-2026. Key financial highlights include a stable Net Interest Margin (NIM) of 3.26%, growth in total assets to $233.49 billion and total deposits to $163.19 billion. The bank maintained strong capital ratios, well above regulatory requirements. While the provision for credit losses increased significantly quarter-over-quarter and year-over-year due to higher net charge-offs and economic outlook adjustments, the overall loan portfolio quality remained manageable, with a slight increase in nonaccrual loans but a stable ALLL to loans ratio.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on October 23, 2025, to announce its financial results for the third quarter ended September 30, 2025. The report primarily serves to furnish the earnings press release (Exhibit 99.1) and a detailed financial supplement (Exhibit 99.3) containing the operational and financial data for the period. Investors seeking a comprehensive understanding of the company's performance should refer to these attached documents for specific figures related to revenue, net income, earnings per share, and balance sheet changes. The filing also includes an investor presentation (Exhibit 99.2) and indicates a conference call scheduled for the same day to discuss these results. While the 8-K itself does not provide the quantitative results, it directs stakeholders to the attached exhibits for these crucial details. Importantly, the information furnished under Items 2.02 and 7.01, along with the accompanying exhibits, is not considered "filed" with the SEC and therefore does not subject the company to Section 18 liability, nor is it automatically incorporated into other SEC filings unless explicitly referenced. Investors should also be aware of the extensive list of forward-looking statements and associated risks detailed in the filing, which highlight potential challenges and uncertainties that could impact future financial performance, including economic conditions, regulatory changes, and the integration of acquisitions.

First Citizens BancShares, Inc. (FCNCA) announced via an 8-K filing on October 16, 2025, a significant strategic acquisition by its wholly owned subsidiary, First Citizens Bank & Trust Company. The bank has entered into an agreement to acquire 138 retail branches from BMO Bank N.A. These branches are strategically located across the Midwest, Great Plains, and West regions of the United States, indicating an expansion of FCNCA's geographical footprint. This acquisition involves the assumption of approximately $5.7 billion in deposit liabilities and the acquisition of approximately $1.1 billion in loans. The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals. Investors should note that while the acquisition presents opportunities for growth and market share expansion, it also carries inherent risks, including integration challenges, regulatory hurdles, and potential impacts on the company's financial performance, as outlined in the forward-looking statements within the filing.

First Citizens BancShares, Inc. (FCNCA) announced on September 5, 2025, the successful issuance and sale of $600 million in aggregate principal amount of 5.600% Fixed Rate Reset Subordinated Notes due 2035. This offering was conducted under an existing shelf registration statement and utilized a prospectus supplement filed on September 4, 2025. The notes were issued pursuant to a subordinated base indenture and a third supplemental indenture, with U.S. Bank Trust Company, National Association acting as trustee. This capital raise is a significant event for FCNCA, indicating a strategic move to bolster its capital structure. The subordinated nature of the notes means they rank below other senior debt obligations in the event of liquidation, a factor investors should consider. The fixed rate reset feature implies the interest rate will be adjusted at specific intervals prior to maturity, which can impact future interest expense and profitability.

First Citizens BancShares, Inc. (FCNCA) reported solid financial performance for the quarter ended June 30, 2025, with net income available to common stockholders reaching $561 million, a 20% increase from the previous quarter. This growth was driven by a 7% increase in non-interest income and a 2% rise in net interest income, supported by higher average loan balances and improved yields on interest-earning deposits. The company's balance sheet remains robust, with total assets growing to $229.65 billion. Deposits increased by 3% to $159.94 billion, indicating continued customer confidence. Borrowings saw a modest increase, primarily due to recent debt issuances. The company maintained strong capital ratios, well exceeding regulatory requirements, with a Common Equity Tier 1 ratio of 12.12%. The provision for credit losses decreased significantly from the prior quarter, reflecting improved credit quality and a more favorable macroeconomic outlook, with the allowance for loan and lease losses standing at 1.18% of total loans. Management continues to actively manage capital, announcing a new $4.0 billion share repurchase program. The company is well-positioned financially, with a strong liquidity position and diversified funding sources. Investors should note the positive trends in profitability and capital strength, alongside the proactive capital return initiatives.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on July 25, 2025, detailing its financial results for the quarter ended June 30, 2025, and announcing a significant new share repurchase program. The company released its earnings press release and a financial supplement, which are incorporated by reference. Investors can access detailed information through these exhibits, which are available on the company's website. The report also provides context for a scheduled conference call to discuss these quarterly results. A key takeaway for investors is the authorization of a new $4.0 billion share repurchase program (the "2025 SRP"), which is set to commence after the completion of the existing 2024 program. This demonstrates management's confidence in the company's financial health and its commitment to returning value to shareholders. The details of the repurchase program, including potential timing and amounts, will be at management's discretion, influenced by market conditions and capital needs.

First Citizens BancShares, Inc. /DE/ (FCNCA) announced on June 26, 2025, the appointment of Diane Morais to its Board of Directors, effective July 1, 2025. Ms. Morais brings extensive experience in consumer and commercial banking, digital transformation, and risk management, having held senior leadership positions at Ally Bank and Bank of America. Her appointment is expected to enhance the Board's expertise in key strategic areas, including technology and risk oversight, given her proven track record in driving growth and innovation within the financial services sector. Investors may view this as a positive development, signaling a continued focus on strategic growth and robust governance by BancShares.

First Citizens BancShares, Inc. (FCNCA) reported a net income of $483 million for the first quarter of 2025, a decrease from the $700 million recorded in the preceding quarter. This decline was primarily attributed to a significant increase in income tax expense, which rose to $168 million from $36 million in the linked quarter. Despite the dip in profitability, the bank demonstrated growth in its balance sheet. Total assets grew to $228.8 billion from $223.7 billion at the end of 2024, driven by an increase in total deposits to $159.3 billion from $155.2 billion. Loan and lease balances also saw a modest increase to $141.4 billion from $140.2 billion. The bank maintained strong capital ratios, with total risk-based capital at 15.23%, well above regulatory requirements. Management highlighted a strategic shift in segment reporting and the termination of a shared-loss agreement with the FDIC, which will not materially impact current financial statements. The company also continued its share repurchase program, buying back approximately $613 million of Class A common stock in the quarter.

FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA) has filed an 8-K report detailing the outcomes of its 2025 Annual Stockholder's Meeting held on April 29, 2025. The key takeaway for investors is the overwhelming approval of all proposals presented, indicating strong shareholder confidence in the company's board of directors, executive compensation practices, and auditor. Specifically, all 11 director nominees were elected, the advisory "say-on-pay" resolution passed, and the appointment of KPMG LLP as independent public accountants for 2025 was ratified. This consistent support across critical governance areas suggests a stable and well-aligned shareholder base. The results demonstrate a robust endorsement of the current management and governance structure. The high "For" votes on director elections and executive compensation, alongside the near-unanimous ratification of the auditor, should provide a sense of reassurance to current and potential investors regarding the company's operational and financial oversight. The filing also includes the standard cover page interactive data file as an exhibit.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K to report its financial results for the quarter ended March 31, 2025. The filing includes the company's earnings release and a financial supplement, which provide detailed operational and financial information for the period. Investors should refer to these exhibits for comprehensive insights into the company's performance and financial condition as of the end of the first quarter of 2025. This report also provides notice of the company's conference call scheduled for April 24, 2025, to discuss these results. The accompanying investor presentation slides are also included, offering management's perspective on the quarter's performance and outlook. While this 8-K provides the announcement and supporting materials, it's important to note that the information is furnished and not deemed "filed" under SEC regulations, meaning it does not carry the same liability as a formally filed document. Investors are encouraged to review the detailed exhibits for a thorough understanding.

First Citizens BancShares, Inc. (FCNCA) has entered into an agreement with the FDIC to terminate its commercial shared-loss agreement related to the Silicon Valley Bridge Bank (SVBB) acquisition. This agreement, which initially covered an estimated $60 billion in loans, had provisions for the FDIC to reimburse FCB for losses up to $5 billion and share in losses above that threshold, while FCB would share in recoveries. The early termination means all rights and obligations under this agreement have ceased, with no outstanding payments due from either party as of the termination date. This decision was driven by FCB's assessment that the likelihood of reaching the $5 billion loss threshold was remote, and it will also eliminate associated reporting burdens.

First Citizens BancShares, Inc. (FCNCA) announced the successful completion of a public offering, raising a total of $1.25 billion through the issuance of new debt securities. Specifically, the company issued $500 million in 5.231% Fixed-to-Floating Rate Senior Notes due 2031 and $750 million in 6.254% Fixed-to-Fixed Rate Subordinated Notes due 2040. This capital raise was executed under a previously filed registration statement and utilized a prospectus supplement dated March 6, 2025.

First Citizens BancShares, Inc. (FCNCA) reported solid performance in its 2024 Annual Report, demonstrating resilience amidst a dynamic financial landscape. The company's net income available to common stockholders stood at $2.72 billion, a notable decrease from the prior year, primarily due to a significant gain on acquisition recorded in 2023. However, the core business showed strength with a 6% increase in Net Interest Income (NII) to $7.14 billion, driven by loan growth and higher asset yields, partially offset by increased deposit costs. The balance sheet expanded, with total assets reaching $223.72 billion, supported by a 6% growth in total deposits to $155.23 billion. The company maintained strong capital ratios, significantly exceeding regulatory requirements, including a Common Equity Tier 1 ratio of 12.99%. The loan portfolio grew by 5% to $140.22 billion, with growth across all segments, particularly in commercial and business loans, as well as the global fund banking portfolio. The company actively managed its investment securities portfolio, increasing holdings by 47% to $44.09 billion, primarily in short-duration U.S. agency mortgage-backed and U.S. Treasury securities. Furthermore, BancShares continued its commitment to shareholder returns by repurchasing approximately $1.66 billion of its Class A common stock under its share repurchase program during 2024.

First Citizens BancShares, Inc. (FCNCA) filed an 8-K on January 24, 2025, to report its financial results for the fourth quarter and fiscal year ended December 31, 2024. The filing includes the company's earnings release and a financial supplement, which provide detailed operational and financial performance data. Investors should refer to these exhibits for specific metrics regarding revenue, profitability, loan growth, deposit levels, and capital adequacy. The report also announces a conference call scheduled for the same day to discuss these results, with accompanying slides available for investor review. While the content is furnished under Regulation FD and not deemed "filed" for liability purposes, it offers crucial insights into the company's recent performance and outlook. Investors are encouraged to examine the provided exhibits for a comprehensive understanding of BancShares' financial condition and to consider the forward-looking statements and associated risks outlined in the filing.

First Citizens BancShares, Inc. (FCNCA) announced a significant addition to its Board of Directors with the appointment of Matt Snow, effective January 2, 2025. Mr. Snow brings extensive experience in public accounting, having held leadership positions at major firms like Forvis Mazars, LLP and Dixon Hughes Goodman LLP, with a strong background in audit, SEC regulations, and financial services. His appointment is expected to bolster the Board's expertise, particularly within the Audit Committee. Notably, Mr. Snow is set to retire from his current firm in May 2025 and has been deemed independent by Nasdaq standards. While Forvis Mazars has provided professional services to FCNCA totaling approximately $0.6 million since 2023, these services will cease while Mr. Snow holds directorship and firm positions concurrently. The company has confirmed no other reportable transactions or relationships requiring disclosure. Investors can anticipate Mr. Snow's compensation as a director will align with existing arrangements for non-associate directors, with further details in the company's proxy statement.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a solid financial performance for the nine months ended September 30, 2024, with net income available to common stockholders reaching $2.03 billion. While net income significantly decreased compared to the same period in the prior year ($10.91 billion), this was largely attributed to a substantial gain on acquisition in the prior year related to the SVBB acquisition. The bank demonstrated loan growth across its segments, with total loans and leases reaching $138.70 billion, up 4% year-to-date. Deposits also grew to $151.57 billion, up 4% year-to-date, indicating continued customer confidence. The bank maintained strong capital ratios, well exceeding regulatory requirements, and a healthy liquidity position with $58.36 billion in high-quality liquid assets. However, the bank experienced an increase in noninterest expense in the current quarter and year-to-date, driven by higher salaries, benefits, and professional fees, partly due to investments in technology and regulatory compliance. Net interest income saw a slight decrease quarter-over-quarter but an increase year-over-date, with a slight compression in net interest margin compared to the prior year, influenced by higher deposit costs and lower purchase accounting accretion. The allowance for loan and lease losses remained robust, though the provision for credit losses saw an increase in the current quarter, partly due to an estimated reserve for Hurricane Helene. Investors should monitor the impact of ongoing investments in technology and compliance on future expenses, as well as the evolving interest rate environment on net interest margin.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K to report its financial results for the third quarter ended September 30, 2024. The filing primarily serves to attach the official earnings press release (Exhibit 99.1), investor presentation slides (Exhibit 99.2), and a detailed financial supplement (Exhibit 99.3). These documents provide the substance of the company's performance and outlook for the period. Investors should refer to the attached exhibits for specific financial metrics, operational highlights, and management's commentary. The company also announced a conference call to discuss these results, indicating transparency and an opportunity for further insights. It's important to note that the information furnished in this 8-K is not considered 'filed' for regulatory purposes unless expressly incorporated by reference into a specific filing, which is a standard disclaimer for such announcements.

First Citizens BancShares, Inc. (FCNCA) has filed a Form 8-K to retrospectively revise certain historical financial information and related disclosures originally presented in its 2023 Annual Report on Form 10-K. These revisions are specifically to conform the financial reporting to new segment reporting structures implemented during the first quarter of 2024. The changes involve reclassifications and renaming of business segments, aimed at providing a more accurate representation of the company's operational structure following integration activities, particularly concerning the Silicon Valley Bank (SVB) acquisition. Investors should note that this filing does not introduce new operational or financial events that occurred after the 2023 Form 10-K filing date. Instead, it corrects how past financial data is categorized across business segments. The key takeaway is that the company is adjusting its internal reporting segments to better reflect its current business organization, specifically integrating SVB's private banking and wealth management into the General Bank segment and rebranding the remainder of SVB to SVB Commercial, while shifting the Direct Bank to Corporate. This revised segment presentation will be reflected in future filings and should be considered alongside prior and subsequent reports for a complete understanding of the company's financial performance.

First Citizens BancShares, Inc. /de/ (FCNCA) reported a solid quarter with a net income of $707 million for the three months ended June 30, 2024, a slight decrease from the previous quarter but still demonstrating robust profitability. Total assets grew to $219.83 billion, supported by a significant increase in total deposits to $151.08 billion. The company's loan portfolio also expanded to $139.34 billion, with growth across all business segments, particularly in commercial and business loans, TMT, and healthcare sectors, as well as global fund banking. Key financial highlights include a net interest income of $1.82 billion, with a net interest margin of 3.64%. Despite a higher provision for credit losses compared to the linked quarter, driven by a lower benefit for off-balance sheet credit exposure, the company maintained a strong capital position with a Common Equity Tier 1 ratio of 13.33%. The announcement of a new $3.5 billion share repurchase program underscores management's confidence in the company's financial health and commitment to shareholder value.

First Citizens BancShares, Inc. (FCNCA) announced its second quarter 2024 financial results on July 25, 2024, through an 8-K filing. The report highlights the company's performance for the quarter ended June 30, 2024, and includes details on operational results and financial condition. Key information, including a press release, financial supplement, and investor presentation, was made available and incorporated by reference. Investors should note that these disclosures are not deemed "filed" with the SEC and are not subject to Section 18 liability. In addition to its financial results, BancShares also announced a significant development regarding its capital allocation strategy. The Board of Directors has authorized a substantial new share repurchase program, allowing for the repurchase of up to $3.5 billion of its Class A common stock through 2025. This strategic move indicates management's confidence in the company's value and its commitment to returning capital to shareholders.

First Citizens BancShares, Inc. (FCNCA) reported a strong first quarter of 2024, with net income available to common stockholders reaching $716 million, or $49.26 per diluted share. This represents a significant increase from the previous quarter, driven by a substantial decrease in the provision for credit losses and lower noninterest expenses, partially offset by a decline in net interest income. The company's balance sheet showed continued growth, with total loans and leases increasing by 2% to $135.37 billion and total deposits rising by 3% to $149.61 billion. Investment securities also saw a notable increase of 17% to $35.04 billion. Capital ratios remained robust, well exceeding regulatory requirements, indicating a strong financial position. The company's liquidity position was solid, with ample cash and high-quality liquid securities. While the company experienced a slight decrease in net interest margin, this was attributed to a higher cost of deposits and a decline in loan discount accretion. The provision for credit losses saw a significant reduction, reflecting improved macroeconomic forecasts and lower net charge-offs. Management continues to focus on managing interest rate risk and maintaining a strong capital and liquidity position amidst a dynamic economic environment.

This 8-K filing from First Citizens BancShares, Inc. reports on the outcomes of its 2024 Annual Stockholder's Meeting held on May 1, 2024. The primary purpose of the filing is to provide definitive voting results on several key proposals. Investors will note that all incumbent directors were re-elected, the company's executive compensation practices received advisory approval (the "say-on-pay" resolution), and the appointment of KPMG LLP as the independent public accountants for 2024 was ratified. However, a significant outcome was the rejection of a stockholder proposal that requested a report on the risks associated with politicized de-banking. This proposal received a low number of "for" votes compared to the overwhelming "against" votes, indicating that the majority of voting shareholders did not support its adoption. The filing provides detailed vote counts for each proposal, offering transparency into shareholder sentiment on these matters.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on April 25, 2024, to announce its financial results for the first quarter ended March 31, 2024. The filing incorporates by reference the company's earnings release (Exhibit 99.1) and a financial supplement (Exhibit 99.3), which provide detailed operational and financial performance data for the period. Investors should review these attached documents for specific financial metrics, profitability, balance sheet changes, and any management commentary on the quarter's performance. Additionally, the report indicates a conference call was scheduled for the same day to discuss these results, with presentation slides included as Exhibit 99.2. While the 8-K itself is procedural, it serves as the official notification of the release of detailed Q1 2024 financial information, making the attached exhibits crucial for understanding the company's current financial standing and outlook. Investors should note the standard cautionary language regarding forward-looking statements included in the filing.

First Citizens BancShares, Inc. (FCNCA) reported a significant increase in net income for the year ended December 31, 2023, primarily driven by a substantial preliminary gain on the acquisition of Silicon Valley Bridge Bank, N.A. (SVBB). This acquisition, alongside the prior year's merger with CIT Group, has considerably expanded the company's asset base and operational scope. The company experienced robust growth in net interest income due to higher loan volumes and increased interest rates, though this was partially offset by higher deposit and borrowing costs. The SVBB acquisition significantly impacted noninterest income and expenses, with the gain on acquisition being the dominant factor in the period's profitability. BancShares maintained strong capital and liquidity positions throughout the year, exceeding regulatory requirements. The company is navigating a dynamic regulatory environment with proposed changes to capital and liquidity standards for larger banking organizations, and is actively working to integrate its recent acquisitions while managing associated operational and compliance risks.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on January 26, 2024, to announce its financial results for the fourth quarter and full year ended December 31, 2023. The filing incorporates by reference the company's earnings release (Exhibit 99.1), investor presentation (Exhibit 99.2), and financial supplement (Exhibit 99.3), which contain detailed operational and financial performance information. Investors should review these attached documents for a comprehensive understanding of the company's recent performance and strategic outlook. While the 8-K itself does not contain the specific financial figures, it serves as the official notification and gateway to the detailed information provided in the exhibits. The company also noted the upcoming conference call to discuss these results, indicating an opportunity for further insights and engagement. A crucial aspect of this filing is the forward-looking statements disclaimer, which highlights various risks and uncertainties that could impact future results, including economic conditions, regulatory changes, interest rate fluctuations, and integration risks from recent acquisitions.

First Citizens Bancshares Inc. (FCBC) has officially completed its acquisition of substantially all assets and liabilities of Silicon Valley Bridge Bank (SVBB) from the FDIC, as detailed in this Form 8-K filing. This significant transaction involved the acquisition of $107.54 billion in assets, including $68.47 billion in loans and $35.31 billion in cash and deposits, while assuming approximately $61.42 billion in liabilities, primarily customer deposits totaling $56.01 billion. Notably, the assets were acquired at a discount of $16.45 billion, and deposits were assumed without a premium, leading to a preliminary after-tax gain on acquisition of $9.81 billion. The acquisition was financed through a $36.07 billion amended Purchase Money Note with the FDIC and an up to $70 billion Advance Facility Agreement with the FDIC for liquidity purposes. Furthermore, FCBC entered into a Commercial Shared-Loss Agreement with the FDIC, covering approximately $60.5 billion of loans. Under this agreement, the FDIC will cover 0% of losses up to $5 billion and 50% of losses exceeding $5 billion, while FCBC will reimburse the FDIC for 50% of recoveries on these assets. This filing provides a detailed breakdown of the fair value purchase price allocation, the acquired loan portfolio characteristics, and the deposit structure assumed, offering investors transparency into the integration of SVBB's operations.

First Citizens Bancshares Inc. (FCNCA) has filed an 8-K/A amendment on January 16, 2024, to announce a significant executive appointment. Gregory L. Smith, aged 59, has been appointed as the new Chief Information & Operations Officer (CIOO), with his tenure commencing on January 9, 2024. This role is crucial for overseeing the technological infrastructure and operational efficiency of the company, which are vital for a financial institution's performance and security. This appointment signals a strategic move by FCNCA to bolster its leadership in critical areas of information technology and operational management. Investors should monitor how Mr. Smith's leadership influences the company's digital transformation efforts, cybersecurity posture, and overall operational effectiveness in the coming quarters. The experience and strategic direction he brings will be key to the company's ability to innovate and maintain a competitive edge in the evolving financial services landscape.

First Citizens BancShares, Inc. (FCNCA) announced a significant leadership appointment via an 8-K filing on January 16, 2024, detailing the hiring of Gregory L. Smith as Chief Information & Operations Officer. This strategic hire, effective January 9, 2023, signals a focus on enhancing the company's technology, operations, cyber, and data functions. Mr. Smith brings extensive experience from TD Bank Financial Group and other major financial institutions, underscoring his capabilities in driving transformational change and managing complex operational and technology platforms. The filing also outlines Mr. Smith's compensation package, which includes a competitive base salary, signing bonus, long-term cash incentives, and performance-based bonuses, alongside eligibility for a substantial Long-Term Incentive Plan award. This comprehensive remuneration structure reflects the importance of his role and the expected impact on the company's strategic objectives. The appointment is a key development for investors seeking to understand the company's investment in critical operational infrastructure and executive talent.

First Citizens BancShares, Inc. (FCNCA) announced a significant addition to its Board of Directors with the appointment of David G. Leitch, effective January 1, 2024. Mr. Leitch brings a wealth of experience, having previously served as Vice Chair and Global General Counsel at Bank of America, and General Counsel at Ford Motor Company. His background also includes distinguished roles in federal government service and a strong foundation in appellate litigation, having clerked for Supreme Court Chief Justice William H. Rehnquist. This appointment is noteworthy due to Mr. Leitch's extensive legal and risk management expertise gained at major financial institutions and regulatory bodies. He will also serve on the Audit Committee and the Compensation, Nominations and Governance Committee, indicating a strategic strengthening of the board's oversight capabilities. The company has confirmed Mr. Leitch meets Nasdaq's independence requirements and will receive standard compensation for non-employee directors.

First Citizens BancShares, Inc. (FCNCA) filed an 8-K detailing new financing agreements related to its acquisition of Silicon Valley Bridge Bank, N.A. (SVBB) from the FDIC. These agreements, effective November 20, 2023, supersede initial arrangements and formalize the terms for a $36.07 billion Amended and Restated Purchase Money Note and a $70 billion Advance Facility Agreement. The primary purpose of these agreements is to manage liquidity and financial obligations arising from the SVBB acquisition. The Advance Facility provides liquidity to offset deposit withdrawals and fund acquired commercial lending commitments. Investors should note that the purchase money note bears interest at 3.5% annually, while the advance facility has a variable rate tied to SOFR plus 25 basis points. The agreements also outline collateral arrangements and operational procedures through custodial and paying agency agreements.

First Citizens BancShares, Inc. (FCNCA) reported a substantial increase in total assets to $213.765 billion as of September 30, 2023, primarily driven by the acquisition of Silicon Valley Bridge Bank (SVBB) on March 27, 2023. This acquisition significantly expanded the company's scale, loan portfolio, and deposit base. Net income available to common stockholders for the nine months ended September 30, 2023, reached $10.91 billion, a significant jump from $805 million in the same period last year, largely due to a preliminary after-tax gain on acquisition of $9.89 billion related to the SVBB transaction. Despite the significant asset growth and the integration of SVB, First Citizens demonstrated strong capital adequacy, with all regulatory capital ratios well above minimum requirements. The company's net interest margin remained robust at 4.07% for the quarter, though slightly down from the linked quarter. The provision for credit losses saw an increase, reflecting the growth in the loan portfolio and evolving macroeconomic factors, particularly impacting the commercial real estate and specific SVB loan segments. The company also highlighted strategic efforts to manage its investment portfolio and liquidity, including managing deposit trends and borrowing costs.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on October 26, 2023, to announce its financial results for the quarter ended September 30, 2023. This filing incorporates by reference a press release (Exhibit 99.1) and investor presentation slides (Exhibit 99.2) that were made available during a conference call on the same day. These documents provide detailed insights into the company's performance, strategic initiatives, and outlook, offering investors crucial information regarding the bank's operational and financial condition. While specific financial metrics are not detailed within the 8-K text itself, the report directs investors to the attached exhibits for comprehensive earnings data. The filing also emphasizes that the information provided is not considered "filed" under Section 18 of the Exchange Act, meaning it is not subject to the same liability provisions as formal filings. Investors should carefully review the press release and investor presentation for a thorough understanding of the quarterly results and any forward-looking statements, which are subject to various risks and uncertainties as outlined in the report.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported strong financial results for the second quarter of 2023, significantly boosted by the acquisition of Silicon Valley Bridge Bank, N.A. (SVBB). The company saw a substantial increase in total assets to $209.5 billion and total deposits to $141.16 billion, driven by the SVBB transaction. Net income available to common stockholders surged to $10.17 billion for the first six months of 2023, compared to $502 million in the prior year period, largely due to a significant gain on the SVBB acquisition. Net interest income also saw a substantial increase, reflecting the expanded balance sheet and a favorable interest rate environment. Despite increased non-interest expenses related to the acquisition and integration, the company's capital ratios remain robust and well above regulatory requirements. The integration of SVB is progressing, and the company is closely monitoring market developments and regulatory changes. Investors should note the significant impact of the SVBB acquisition on the company's scale and financial performance, while also being aware of the ongoing integration efforts and market dynamics.

First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on August 3, 2023, to announce its financial results for the quarter ended June 30, 2023. The filing includes a press release (Exhibit 99.1) detailing these results and an investor presentation (Exhibit 99.2) that will be used for a conference call on the same day. Investors should note that the information provided in this 8-K is furnished and not filed, meaning it is not considered legally 'filed' for purposes of Section 18 of the Exchange Act, unless specifically incorporated into other filings. The report also contains forward-looking statements, which are subject to various risks and uncertainties. These include general economic conditions, competitive pressures, interest rate fluctuations, regulatory changes, and the successful integration of past acquisitions, such as the recent transaction with CIT. Investors are advised to review the company's other SEC filings, including its Form 10-K for the year ended December 31, 2022, and Form 10-Q for the period ended March 31, 2023, for a more comprehensive understanding of these risks and potential impacts on future performance.

This 8-K filing from First Citizens Bancshares Inc. (FCNCA) addresses the outcome of a "Say-on-Frequency Proposal" vote that occurred at the company's annual meeting on April 25, 2023. Investors voted overwhelmingly in favor of holding an annual "Say-on-Pay" (executive compensation) advisory vote. Consequently, the Board of Directors has committed to submitting an advisory Say-on-Pay proposal for shareholder approval every year, aligning with the preference expressed by the majority of votes cast. This decision impacts the frequency of future executive compensation reviews by shareholders.

First Citizens BancShares, Inc. /de/ (FCNCA) reported a substantial increase in assets and net income for the quarter ending March 31, 2023, primarily driven by the acquisition of Silicon Valley Bridge Bank, N.A. (SVBB). The SVBB acquisition significantly expanded the company's balance sheet, with total assets more than doubling to $214.66 billion, largely due to the inclusion of $68.50 billion in loans and $35.28 billion in cash and interest-earning deposits. This strategic move also significantly boosted net income, which surged to $9.52 billion, largely attributed to a preliminary gain on acquisition of $9.82 billion (net of tax). However, this was partially offset by a substantial provision for credit losses related to the acquired SVBB portfolio. Despite the significant integration efforts and associated expenses, FCNCA maintained strong capital ratios, exceeding regulatory requirements. Management highlighted the continued growth in core banking segments and expressed optimism about the strategic benefits and synergies expected from the SVBB acquisition, while acknowledging the ongoing integration and the evolving economic and banking environment.

First Citizens BancShares, Inc. (FCNCA) filed an 8-K on May 10, 2023, to report its financial results for the quarter ended March 31, 2023. The filing primarily serves to incorporate by reference the press release (Exhibit 99.1) and investor presentation slides (Exhibit 99.2) that were discussed during their conference call on the same day. These documents would contain the detailed financial performance and operational highlights for the quarter. Investors should refer to Exhibit 99.1 and 99.2 for specific figures regarding earnings, revenue, asset quality, and strategic updates. While the 8-K itself does not provide quantitative results, it highlights the company's intent to communicate its quarterly performance. The filing also includes cautionary language regarding forward-looking statements, emphasizing the inherent risks and uncertainties that could affect future results. These risks include broader economic conditions, competitive pressures, interest rate fluctuations, regulatory actions, and integration challenges from recent acquisitions, notably the transaction with CIT. Investors should consider these forward-looking disclosures carefully when assessing the company's future prospects.

First Citizens BancShares, Inc. (FCNCA) filed an 8-K on May 1, 2023, detailing key decisions made at its April 25, 2023, annual stockholders meeting. The most significant development for investors is the approval of amendments to the company's Restated Certificate of Incorporation. These amendments, effective April 27, 2023, double the authorized shares of Class A Common Stock from 16 million to 32 million and Preferred Stock from 10 million to 20 million. Additionally, the stockholders approved an amendment to align the company's charter with new Delaware law provisions, providing exculpation for officers from certain claims related to their duty of care. The filing also reports the results of various other shareholder votes, including the election of directors, advisory votes on executive compensation ("say-on-pay" and "say-on-frequency"), and the ratification of KPMG LLP as the independent auditor.

First Citizens Bancshares Inc. /de/ (FCNCA), through its subsidiary First-Citizens Bank & Trust Company (FCB), has officially completed the acquisition of substantially all loans and certain other assets, along with assuming customer deposits and other liabilities, from Silicon Valley Bridge Bank, N.A. This transaction, facilitated by the FDIC as receiver, significantly expands FCB's balance sheet with approximately $110.1 billion in assets and $59.0 billion in liabilities, including $56.5 billion in deposits. The acquisition was structured with assets acquired at a discount and excluded certain specific assets like cryptocurrency and international branches. Crucially, FCB has entered into a Purchase Money Note with the FDIC for $35 billion and secured a $70 billion line of credit from the FDIC to manage liquidity and fund unfunded commitments. A commercial shared-loss agreement with the FDIC covers approximately $60 billion in loans, with the FDIC sharing in potential losses to mitigate risk for FCB. This strategic move represents a substantial growth opportunity for First Citizens, integrating a large deposit base and loan portfolio. However, investors should note the significant financial arrangements with the FDIC, including the large note and credit facility, and the shared-loss agreement, which provide risk mitigation but also create substantial financial commitments. The company has also issued a Value Appreciation Instrument to the FDIC, with a potential payment of up to $500 million, which has been exercised. The successful integration and management of these newly acquired assets and liabilities will be key to realizing the anticipated benefits of this transaction.