{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-086031","form_type":"8-K/A","ticker":"FCNCA","cik":"0000798941","company_name":"FIRST CITIZENS BANCSHARES INC /DE/","filed_at":"2023-03-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:48.119146+00:00","generated_at":"2026-06-17T08:43:12.249664+00:00","sec_items":["1.01","2.01","2.03","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"First Citizens acquires $110B in assets from Silicon Valley Bridge Bank; FDIC provides $70B credit line","bullets":["Acquired ~$110B in assets ($72B loans) and assumed ~$59B liabilities ($56.5B deposits) from FDIC.","Assets acquired at a discount of ~$16.45B; deposits assumed without premium.","Issued $35B five-year note to FDIC at 3.5% interest; FDIC provided $70B line of credit.","Shared-loss agreement covers $60B of loans; FDIC reimburses 50% of losses above $5B.","FDIC exercised value appreciation instrument for $500M payment to FDIC."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-086031","json":"https://secwatch.observer/filing/0001193125-23-086031.json","markdown":"https://secwatch.observer/filing/0001193125-23-086031.md","text":"https://secwatch.observer/filing/0001193125-23-086031.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/d465632d8ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-17T08:43:12.249664+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4095931518fa52630317c06ff1462a4596c9151f","claim":"FIRST CITIZENS BANCSHARES INC /DE/ incurred credit facility of $70 billion with FDIC at Secured Overnight Financing Rate plus 25 basis points (but in no event less than maturing five-year.","evidence_excerpt":"FCB and the FDIC also entered into a binding term sheet pursuant to which the FDIC is providing a five-year, $70 billion line of credit to FCB (the “Credit Facility”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"$70 billion"},{"label":"Counterparty","value":"FDIC"},{"label":"Rate","value":"Secured Overnight Financing Rate plus 25 basis points (but in no event less than"},{"label":"Maturity","value":"five-year"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"6f1c1005504f1f2263b049d19d2b0fa4029a038c","claim":"FIRST CITIZENS BANCSHARES INC /DE/ incurred loan of $35.0 billion with FDIC at 3.50% per annum maturing five-year.","evidence_excerpt":"In connection with the Acquisition, as initial payment under the Purchase Agreement, FCB issued a five-year $35.0 billion note to the FDIC (the “Purchase Money Note”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"loan"},{"label":"Principal","value":"$35.0 billion"},{"label":"Counterparty","value":"FDIC"},{"label":"Rate","value":"3.50% per annum"},{"label":"Maturity","value":"five-year"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"0a15fc70cbfb82bda21231c7abdb39aad775106c","claim":"FIRST CITIZENS BANCSHARES INC /DE/ completed an acquisition involving Federal Deposit Insurance Corporation (FDIC), as receiver for Silicon Valley Bridge Bank, N.A. (closed 2023-03-27).","evidence_excerpt":"The Acquisition was consummated on March 27, 2023.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"Federal Deposit Insurance Corporation (FDIC), as receiver for Silicon Valley Bridge Bank, N.A."},{"label":"Closing","value":"2023-03-27"}],"fact_type":"ma_transaction"},{"claim_id":"124c027149d272bfc52dff34d606e602267600b6","claim":"FIRST CITIZENS BANCSHARES INC /DE/ entered into Purchase Agreement with FDIC (effective 2023-03-27).","evidence_excerpt":"pursuant to the terms of a purchase and assumption agreement entered into by FCB and the FDIC on March 27, 2023 (the “Purchase Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"asset purchase"},{"label":"Counterparty","value":"FDIC"},{"label":"Effective","value":"2023-03-27"}],"fact_type":"material_agreement"},{"claim_id":"1de3521488f9d3fc792293845ab7f3cf60e1e69b","claim":"FIRST CITIZENS BANCSHARES INC /DE/ entered into Purchase Money Note with FDIC valued at $35.0 billion note (effective 2023-03-27).","evidence_excerpt":"(“Silicon Valley Bridge Bank”), as successor to Silicon Valley Bank (the “Failed Bank”), from the Federal Deposit Insurance Corporation (the “FDIC”), as receiver for Silicon Valley Bridge Bank (the “Acquisition”), pursuant to the terms of a purchase and assumption agreement entered into by FCB and the FDIC on March 27, 2023 (the “Purchase Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"FDIC"},{"label":"Value","value":"$35.0 billion note"},{"label":"Effective","value":"2023-03-27"}],"fact_type":"material_agreement"},{"claim_id":"795d1f71f348bda9fcf6176d350a1ef5afba5930","claim":"FIRST CITIZENS BANCSHARES INC /DE/ entered into Credit Facility with FDIC valued at $70 billion line of credit (effective 2023-03-27).","evidence_excerpt":"FCB and the FDIC also entered into a binding term sheet pursuant to which the FDIC is providing a five-year, $70 billion line of credit to FCB (the “Credit Facility”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"FDIC"},{"label":"Value","value":"$70 billion line of credit"},{"label":"Effective","value":"2023-03-27"}],"fact_type":"material_agreement"},{"claim_id":"ff5d21be51290cbe4e134c0d467ced3ca8eceb84","claim":"FIRST CITIZENS BANCSHARES INC /DE/ entered into Shared-Loss Agreement with FDIC (effective 2023-03-27).","evidence_excerpt":"(“Silicon Valley Bridge Bank”), as successor to Silicon Valley Bank (the “Failed Bank”), from the Federal Deposit Insurance Corporation (the “FDIC”), as receiver for Silicon Valley Bridge Bank (the “Acquisition”), pursuant to the terms of a purchase and assumption agreement entered into by FCB and the FDIC on March 27, 2023 (the “Purchase Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/798941/000119312523086031/0001193125-23-086031-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"FDIC"},{"label":"Effective","value":"2023-03-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}