First Citizens BancShares issues 500,000 depositary shares of 7% Series D Preferred Stock

FIRST CITIZENS BANCSHARES INC /DE/

500,000 depositary shares sold, each representing 1/100th interest in Series D Preferred with $100,000 liquidation preference per share.
Dividends: 7.000% per annum to Dec 15, 2030, then floating at 5-year Treasury + 3.301%, payable quarterly.
Underwriters: J.P. Morgan, BofA, Citigroup, Morgan Stanley; offering closed Nov 18, 2025.
No voting rights except for fundamental changes or if dividends unpaid for 18 months (then right to elect two directors).
No fixed maturity; redeemable at company's option on/after Dec 15, 2030, subject to Federal Reserve approval.

item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

FIRST CITIZENS BANCSHARES INC /DE/ issued preferred stock.

Security: preferred stock

Exact text from the filing

On November 14, 2025, First Citizens BancShares, Inc., a Delaware corporation (the “Company”), filed a certificate of designation (the “Certificate of Designation”) with the Secretary of State of the State of Delaware, establishing the rights, preferences, privileges, qualifications, restrictions and limitations of a new series of its preferred stock designated as the “7.000% Non-Cumulative Perpetual Preferred Stock, Series D”

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

FIRST CITIZENS BANCSHARES INC /DE/: Filed a certificate of designation establishing a new series of preferred stock, Series D, amending the certificate of incorporation (effective 2025-11-14).

Change: charter amendment
Effective: 2025-11-14

Exact text from the filing

The Certificate of Designation became effective upon filing with the Secretary of State of the State of Delaware, and it amends the Company’s Amended and Restated Certificate of Incorporation.

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Source: SEC EDGAR

accession 0001193125-25-286155

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