FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA) Company Report

First Citizens BancShares, Inc. has established a new series of preferred stock, the 7.000% Non-Cumulative Perpetual Preferred Stock, Series D, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share).
The company is offering 500,000 depositary shares, each representing a 1/100th interest in a Series D Preferred Stock share, with anticipated net proceeds of $495,000,000 before expenses.
Dividends will accrue at a 7.000% per annum rate on a non-cumulative basis from the issue date until December 15, 2030. Thereafter, the rate will reset to the five-year treasury rate plus 3.301% for each reset period, payable quarterly starting March 15, 2026.
The Series D Preferred Stock has no maturity date and can be optionally redeemed by the company, in whole or in part, on any dividend payment date on or after December 15, 2030, or in whole following a regulatory capital treatment event.

Nov 18, 2025, 9:09 PM

8-K

First Citizens Bank to Acquire 138 BMO U.S. Branches

FCNCA

M&A

New Projects/Investments

First Citizens Bank & Trust Company has agreed to acquire 138 U.S. branches from BMO Financial Group, which includes approximately $5.7 billion in deposits and $1.1 billion in loans.
This acquisition is expected to enhance First Citizens' liquidity by about $4.6 billion and improve its funding base with low-cost deposits averaging 1.43%.
The transaction is projected to be immediately accretive to earnings per share for First Citizens and is anticipated to close by mid-2026, pending regulatory approvals.
The deal is expected to have a Common Equity Tier 1 (CET1) capital impact of approximately 27 basis points for First Citizens, but it is not anticipated to affect the company's ongoing share repurchase plan.

Oct 16, 2025, 11:41 AM

Bloomberg

First Citizens BancShares to acquire 138 BMO Bank branches

FCNCA

M&A

New Projects/Investments

First Citizens Bank, a wholly owned subsidiary of First Citizens BancShares, Inc., announced on October 16, 2025, an agreement to acquire 138 branches from BMO Bank N.A..
This acquisition involves assuming approximately $5.7 billion in deposit liabilities and acquiring approximately $1.1 billion in loans, along with $1.0 billion in wealth assets under management.
The transaction is expected to provide $4.6 billion in net liquidity and is projected to be immediately accretive to EPS.
The closing is anticipated in mid-2026, subject to customary closing terms and regulatory approvals.

Oct 16, 2025, 10:36 AM

8-K

First Citizens Bank to Acquire 138 Branches from BMO Bank N.A.

FCNCA

M&A

New Projects/Investments

First Citizens Bank, a subsidiary of First Citizens BancShares, Inc. (NASDAQ: FCNCA), announced an agreement to acquire 138 branches from BMO Bank N.A..
This acquisition will expand First Citizens Bank's presence into 11 states across the Midwest, Great Plains, and West regions of the U.S..
The transaction includes the assumption of approximately $5.7 billion in deposit liabilities and the acquisition of approximately $1.1 billion in loans.
The deal is expected to close in mid-2026, pending customary closing terms, conditions, and regulatory approvals.

Oct 16, 2025, 10:30 AM

Press Release

First Citizens BancShares Inc – Annual Meeting and Voting Outcomes

FCNCA

Proxy Vote Outcomes

Form 8-K filing reports on the Annual Meeting held on April 29, 2025, detailing key stockholder votes on director elections, a non-binding say-on-pay resolution, and the ratification of KPMG LLP as independent auditors.
The document provides specific voting results for the 11 director nominees and outlines the outcomes for compensation and auditor proposals.
An interactive data file is included, and the report was signed on May 5, 2025 by CFO Craig L. Nix.

May 5, 2025, 12:00 AM

8-K

First Citizens BancShares Q1 2025 Financial Results & Capital Management Update

FCNCA

Earnings

Share Buyback

Debt Issuance

Dividends

Q1 2025 Financial Performance: Adjusted net income of $528 million and GAAP net income of $483 million, reflecting the impact of higher income tax expense and notable items .
Capital & Shareholder Returns: Returned $613 million to shareholders via share repurchases (totaling $2.4 billion), including repurchasing 8.91% of Class A shares, and raised $1.25 billion in debt (comprising $500 million in senior unsecured and $750 million in subordinated notes) .
Dividend Announcement: Declared quarterly dividends effective June 16, 2025, including $1.95 per share for common stock and $13.4375 (Series A), $21.56925 (Series B), $0.351563 (Series C) for preferred shares .
Growth Highlights: Achieved robust deposit growth with deposits rising by $4.1 billion (2.6%) and loan volumes increasing with an incremental growth of $1.1 billion to reach $141.36 billion, complemented by stable credit quality .
Efficiency & Operational Metrics: Reported adjusted EPS of $37.79, ROE of 9.64%, and an efficiency ratio of 59.6%, underscoring strategic balance sheet optimizations .

Apr 24, 2025, 1:01 PM

Transcript Press Release Press Release 8-K

First Citizens BancShares Terminates FDIC Shared-Loss Agreement

FCNCA

M&A

Debt Issuance

April 7, 2025 filing: The company announced the termination of its commercial shared‐loss agreement with the FDIC related to the Silicon Valley Bridge Bank acquisition, ending associated loss sharing and reimbursement obligations.
The termination eliminates all future payment and reporting responsibilities under the agreement, without triggering any defaults or requiring prepayment of related financing arrangements.
This action is part of the FDIC-assisted transaction framework, which previously involved a $35.99 billion purchase money note bearing a fixed interest rate of 3.50% until its March 2028 maturity.

Apr 7, 2025, 12:00 AM

8-K

First Citizens BancShares Announces Venture Debt Partnership

FCNCA

Debt Issuance

New Projects/Investments

SVB, a division of First Citizens Bank, has entered into a strategic lending relationship with Pinegrove Venture Partners to expand venture debt availability to technology and life science companies.
The collaboration anticipates deploying a combined $2.5 billion in venture debt loans, supporting the innovation economy.
The long-standing relationship between the parties, marked by over a decade of joint work and more than $10 billion in venture debt commitments via 550 loans, underlines their robust industry expertise.

Mar 12, 2025, 12:30 PM

Press Release

First Citizens BancShares Announces Subordinated Notes Issuance

FCNCA

Debt Issuance

The company executed a Second Supplemental Indenture on March 12, 2025 to issue $750,000,000 in 6.254% Fixed-to-Fixed Rate Subordinated Notes due 2040, supplementing the Base Indenture from March 4, 2020.
The indenture outlines key features such as interest rate details, payment dates, redemption provisions, and the maturities of the notes, ensuring compliance with applicable regulations.

Mar 12, 2025, 12:00 AM

8-K

Filings & Transcripts

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Recent SEC filings and earnings call transcripts for FCNCA.

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