First Citizens and CIT extend merger deadline to March 2022; FRB approval still pending

FIRST CITIZENS BANCSHARES INC /DE/

Merger agreement extended from Oct 15, 2021 to March 1, 2022, to allow more time for Federal Reserve Board approval.
FRB approval is the only remaining regulatory requirement; NC Commissioner and FDIC approvals already obtained.
FRB staff has no further questions; application is at the Governor level, but no decision timeframe given.
Combined bank would be top 20 U.S. bank by assets, operating under the First Citizens name.

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