---
schema_version: "secwatch.filing_event.v1"
accession: "0000798941-24-000012"
form_type: "8-K/A"
ticker: "FCNCA"
cik: "0000798941"
company_name: "FIRST CITIZENS BANCSHARES INC /DE/"
filed_at: "2024-01-26T23:59:59+00:00"
generated_at: "2026-06-06T16:59:27.022162+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# First Citizens BancShares completes SVB bridge bank acquisition; records $9.8B after-tax gain

## Summary
- Assets acquired $107.54B (loans $68.47B, cash $35.31B); liabilities assumed $61.42B (deposits $56.01B).
- Preliminary after-tax gain on acquisition $9.81B; assets acquired at $16.45B discount.
- Issued $35.81B purchase money note to FDIC; $500M value appreciation instrument exercised and paid.
- Shared-loss agreement covers $60.5B loans; FDIC shares 50% of losses above $5B; possible true-up to $1.5B.
- SVB Segment: net income $530M Mar-Dec 2023; deposits fell from $56.01B to $38.48B.

## SEC filing metadata
- accession: 0000798941-24-000012
- form_type: 8-K/A
- ticker: FCNCA
- cik: 0000798941
- company_name: FIRST CITIZENS BANCSHARES INC /DE/
- filed_at: 2024-01-26T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/798941/000079894124000012/0000798941-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/798941/000079894124000012/fcnca-20230327.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000798941-24-000012
- JSON: https://secwatch.observer/filing/0000798941-24-000012.json
- Plain text: https://secwatch.observer/filing/0000798941-24-000012.txt

## Key facts
- M&A Transactions
  FIRST CITIZENS BANCSHARES INC /DE/ completed an acquisition involving Federal Deposit Insurance Corporation (closed 2023-03-27).
  - Action: acquisition
  - Counterparty: Federal Deposit Insurance Corporation
  - Closing: 2023-03-27
  source text: FCB acquired assets with a fair value of $107.54 billion, including approximately $68.47 billion in loans held by Silicon Valley Bridge Bank and $35.31 billion of cash and interest-earning deposits at banks.
  evidence_url: https://www.sec.gov/Archives/edgar/data/798941/000079894124000012/0000798941-24-000012-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.