First Citizens BancShares completes acquisition of CIT Group in all-stock merger

FIRST CITIZENS BANCSHARES INC /DE/

CIT shareholders received 0.06200 FCNCA Class A common shares per CIT share; preferred converted to new FCNCA Series B and C.
First Citizens assumed ~$4.3B in CIT debt, including senior notes due 2022-2036 and subordinated notes.
Ellen R. Alemany (former CIT CEO) appointed Vice Chairwoman; Marisa J. Harney appointed Chief Credit Officer.
Three former CIT directors joined FCNCA board: Alemany, Michael Carpenter, Vice Admiral John Ryan.
FCNCA created two new preferred stock series: Series B (fixed-to-floating) and Series C (5.625% non-cumulative).

item 2.01 item 2.03 item 3.03 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Marisa J. Harney

Chief Credit Officer

FCNCA · FIRST CITIZENS BANCSHARES INC /DE/

Filed: January 4, 2022, 6:59 PM ET

At the Effective Time, Marisa J. Harney, the former Chief Credit Officer of CIT, was appointed as the Chief Credit Officer of FCB.

Appointed

Ellen R. Alemany

Vice Chairwoman of the Board

FCNCA · FIRST CITIZENS BANCSHARES INC /DE/

Filed: January 4, 2022, 6:59 PM ET

At the Effective Time, pursuant to the terms of the Merger Agreement, Ellen R. Alemany, the former Chairwoman and Chief Executive Officer of CIT, was appointed as the Vice Chairwoman of First Citizens and FCB.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Marisa J. Harney was appointed as Chief Credit Officer at FIRST CITIZENS BANCSHARES INC /DE/.

Action: appointed
Role: Chief Credit Officer

Exact text from the filing

At the Effective Time, Marisa J. Harney, the former Chief Credit Officer of CIT, was appointed as the Chief Credit Officer of FCB.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ellen R. Alemany was appointed as Vice Chairwoman of the Board at FIRST CITIZENS BANCSHARES INC /DE/.

Action: appointed
Role: Vice Chairwoman of the Board

Exact text from the filing

At the Effective Time, pursuant to the terms of the Merger Agreement, Ellen R. Alemany, the former Chairwoman and Chief Executive Officer of CIT, was appointed as the Vice Chairwoman of First Citizens and FCB.

View on SEC.gov

FIRST CITIZENS BANCSHARES INC /DE/ filing history →

Source: SEC EDGAR

accession 0001140361-22-000357

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