secwatch.observer — SEC 8-K summary
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Issuer:     FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA)
CIK:        0000798941
Form:       8-K
Filed at:   2026-09-14T20:10:22+00:00
Accession:  0001193125-26-390576
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.03, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798941/000119312526390576/0001193125-26-390576-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798941/000119312526390576/d505182d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-390576

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