---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-000357"
form_type: "8-K"
ticker: "FCNCA"
cik: "0000798941"
company_name: "FIRST CITIZENS BANCSHARES INC /DE/"
filed_at: "2022-01-04T23:59:59+00:00"
generated_at: "2026-06-27T21:10:14.403344+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001140361-22-000357
- form_type: 8-K
- ticker: FCNCA
- cik: 0000798941
- company_name: FIRST CITIZENS BANCSHARES INC /DE/
- filed_at: 2022-01-04T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.01, 2.03, 3.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/798941/000114036122000357/0001140361-22-000357-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/798941/000114036122000357/brhc10032347_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-000357
- JSON: https://secwatch.observer/filing/0001140361-22-000357.json
- Plain text: https://secwatch.observer/filing/0001140361-22-000357.txt

## Key facts
- Executive change
  Marisa J. Harney was appointed as Chief Credit Officer at FIRST CITIZENS BANCSHARES INC /DE/.
  - Action: appointed
  - Role: Chief Credit Officer
  source text: At the Effective Time, Marisa J. Harney, the former Chief Credit Officer of CIT, was appointed as the Chief Credit Officer of FCB.
  evidence_url: https://www.sec.gov/Archives/edgar/data/798941/000114036122000357/0001140361-22-000357-index.htm
- Executive change
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/798941/000114036122000357/0001140361-22-000357-index.htm

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