First Citizens closes $300M preferred offering; Series F 7.5% non-cumulative

FIRST CITIZENS BANCSHARES INC /DE/

Closed offering of 300,000 depositary shares (Series F preferred) on Sep 14, 2026; each represents 1/100th of a $100,000 liquidation pref share.
Dividends: 7.500% per annum through Sep 15, 2031, then 5-yr Treasury + 2.894% reset every 5 years; non-cumulative, quarterly payments.
Preferred ranks senior to common; company may redeem on/after Sep 15, 2031, or within 90 days of regulatory capital event; no maturity date.
Underwriters: Morgan Stanley, BofA Securities, J.P. Morgan, Wells Fargo; Certificate of Designation effective Sep 11, 2026.
Proceeds not specified; offering registered under Form S-3ASR; Deposit Agreement with Broadridge Corporate Issuer Solutions.

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