Highest-materiality recent filing
First Citizens stockholders elect 12 directors, approve say-on-pay, reject faith-based ERG proposal
All 12 director nominees elected; highest vote withheld was 3.09M shares for Robert T. Newcomb.
First Citizens Q1 2026: $900M buyback, $2.5B debt prepaid; CEO cites growth
Chairman Holding reports loan and deposit growth, resilient credit quality, return metrics exceeding expectations.
First Citizens BancShares issues $500M of 4.869% senior notes due 2032
Issued $500M aggregate principal of 4.869% Fixed-to-Floating Rate Senior Notes due 2032.
First Citizens closes $400M Series E preferred stock offering (16M depositary shares at $25 each)
Filed Certificate of Designation for 6.625% Non-Cumulative Perpetual Preferred Stock, Series E, $1,000 liquidation preference.
FCNCA Q4 adjusted EPS $51.27 vs $45.10 yoy; $900M share repurchases, $2.5B note prepaid
Net income available to common $566M GAAP ($45.81 diluted EPS); adjusted net income $634M ($51.27 diluted EPS).
First Citizens BancShares CRO Lorie Rupp to retire June 1; Treasurer Tom Eklund to succeed
Lorie Rupp to retire as EVP & Chief Risk Officer effective June 1, 2026, after 13-year tenure.
First Citizens BancShares issues 500,000 depositary shares of 7% Series D Preferred Stock
500,000 depositary shares sold, each representing 1/100th interest in Series D Preferred with $100,000 liquidation preference per share.
Diluted EPS $43.08 GAAP, $44.62 adjusted; net income $568M vs $639M a year ago.
First Citizens to acquire 138 BMO branches in 11 states, assume $5.7B deposits
Transaction includes $5.7B in deposit liabilities and $1.1B in loans from BMO Bank N.A.
First Citizens BancShares issues $600M of 5.600% subordinated notes due 2035
Issued $600M of 5.600% Fixed Rate Reset Subordinated Notes due 2035 on Sept 5, 2025.
First Citizens Q2 net income $575M, EPS $42.36; announces $4.0B share repurchase plan
Net income of $575M, diluted EPS $42.36; adjusted diluted EPS $44.78.
First Citizens BancShares appoints Diane Morais to board effective July 1, 2025
Diane Morais, former President of Consumer and Commercial Banking at Ally Bank, joins the board.
All 11 director nominees elected; Frank B. Holding Jr. received 23.7M for, David G. Leitch had 2.37M withheld.
First Citizens Q1 EPS $34.47 down 30% QoQ; net income $483M from $700M
Diluted EPS $34.47 (GAAP) vs $49.21 in Q4 2024; adjusted EPS $37.79 vs $45.10.
First Citizens terminates FDIC shared-loss agreement on $60B SVB loan portfolio
Early termination of commercial shared-loss agreement (CSLA) with FDIC covering $60B in loans from Silicon Valley Bridge Bank acquisition.
First Citizens BancShares issues $1.25B in senior and subordinated notes
$500M of 5.231% Fixed-to-Floating Rate Senior Notes due 2031 issued.
First Citizens Q4 net income $700M, EPS $49.21; repurchased $963M in stock
GAAP diluted EPS $49.21 vs $34.33 in Q4 2023; adjusted EPS $45.10 vs $46.58.
First Citizens appoints Matt Snow to board effective Jan. 2, 2025; audit committee member
Snow, age 60, is chairman of governing board at Forvis Mazars; expected to retire in May 2025.
First Citizens Q3 net income $639M ($43.42 EPS), down 15% YoY; NIM 3.53%, credit weakens
Net income available to common $624M; diluted EPS $43.42, down from $50.67 YoY. Adjusted EPS $45.87.
First Citizens BancShares files 8-K with XBRL financial data; no material narrative available
Filing contains XBRL-tagged financial data for periods ending Dec 31, 2023 and 2022.
First Citizens Q2 EPS $47.54, adj EPS $50.87; authorizes $3.5B share repurchase
Net income $707M ($47.54 diluted EPS), up from $682M ($45.87) YoY; adjusted diluted EPS $50.87.
All 13 director nominees elected; Robert T. Newcomb received highest withhold votes at 3,932,914.
First Citizens Q1 net income $731M; adj. EPS $52.92, up from $46.58 Q4
GAAP diluted EPS $49.26 vs $34.33 in Q4 2023; adjusted diluted EPS $52.92 vs $46.58.
First Citizens BancShares completes SVB bridge bank acquisition; records $9.8B after-tax gain
Assets acquired $107.54B (loans $68.47B, cash $35.31B); liabilities assumed $61.42B (deposits $56.01B).
First Citizens Q4 GAAP EPS $34.33, adj. $46.58; NIM 3.86%, loans $133.3B
GAAP net income available to common of $499M ($34.33 diluted EPS); adjusted $678M ($46.58).
Gregory L. Smith appointed as Chief Information & Operations Officer, effective January 9, 2024.
First Citizens appoints Gregory L. Smith as Chief Information & Operations Officer
Smith, former TD Bank executive, joins as CIOO effective Jan 9, 2023? reported Jan 16, 2024.
David G. Leitch appointed to First Citizens BancShares board effective Jan 1, 2024
Leitch, former Bank of America vice chair and global general counsel, joins board of BancShares and its subsidiary First-Citizens Bank.
First Citizens amends SVB acquisition financing: purchase money note increased to ~$36.07B at 3.5%
Amended purchase money note principal adjusted from $35B to ~$36.07B, interest 3.5% p.a., maturing March 2028.
First Citizens BancShares reports Q3 2023 earnings; specific figures not provided in filing excerpt
Q3 2023 earnings released; CEO cites solid results, strong revenue growth, and disciplined expense management.
Reported Q2 2023 earnings including first full quarter after acquiring Silicon Valley Bridge Bank on March 27, 2023.
First Citizens board adopts annual advisory Say-on-Pay votes per stockholder preference
Board of Directors adopted annual Say-on-Pay frequency per stockholder advisory vote at April 25, 2023 annual meeting.
First Citizens reports Q1 earnings; acquired $106.6B SVB Bridge Bank assets at discount
Acquired $106.6B total assets (including $68.5B loans) and assumed $55.96B deposits from FDIC on March 27, 2023.
Shareholders approve doubling authorized Class A and preferred shares, add officer exculpation
Class A common authorized shares increased from 16M to 32M; approved by 27.2M votes (common and Class B combined).
Acquired ~$110B in assets ($72B loans) and assumed ~$59B liabilities ($56.5B deposits) from FDIC.
First Citizens acquires Silicon Valley Bridge Bank from FDIC; $110B assets, $56B deposits
Acquired ~$110.1B in assets (incl. $72.1B loans) and assumed ~$56.5B deposits at no premium; assets acquired at ~$16.45B discount.
First Citizens Q4 net income $243M ($16.67 EPS); adjusted EPS $20.94; NIM 3.36%
Net interest income $802M (+$7M QoQ); net interest margin 3.36% (-4 bps QoQ).
First Citizens BancShares appoints Eugene Flood to Board; director Daniel Heavner retires Dec 31
Daniel Heavner, 75, retires as director of BancShares and First-Citizens Bank effective Dec 31, 2022; served since 2007.
First Citizens Q3 net income $315M, EPS $19.25; NIM expands 36 bps to 3.40%
Net income available to common $303M ($19.25/sh); adjusted $326M ($20.77/sh).
First Citizens BancShares Reports Q2 2022 Earnings and Announces Share Repurchase Program
Q2 2022 net income available to common stockholders was $238 million, or $14.86 per share.
First Citizens BancShares shareholders elect all 14 directors, approve say-on-pay, ratify KPMG
All 14 director nominees elected; votes for ranged from 23.3M to 25.5M, with 3.4M broker non-votes.
First Citizens BancShares reports Q1 2022 results; specifics not available in extracted filing text
Press release and investor presentation attached, but no financial figures are included in the provided excerpt.
Conference call held March 24, 2022 to discuss CIT merger integration, purchase accounting, and financial outlook.
First Citizens BancShares files financial statements for CIT merger; pro forma data provided
Filing amends prior 8-K to present audited financial statements of CIT and unaudited pro forma combined financials.
First Citizens Q4 net income $123.3M, down 10.7%; CIT merger completed Jan 3
Q4 net income $123.3M (-10.7% YoY); diluted EPS $12.09 vs $13.59; full-year net income $547.5M (+11.3% YoY).
First Citizens Bank to redeem ~$2.9B of senior unsecured notes on Feb 24, 2022
Redeeming all $1.147B 5.000% notes due 2022, $750M 5.000% notes due 2023, $500M 4.750% notes due 2024, and $500M 5.250% notes due 2025.
First Citizens BancShares completes acquisition of CIT Group in all-stock merger
CIT shareholders received 0.06200 FCNCA Class A common shares per CIT share; preferred converted to new FCNCA Series B and C.
First Citizens receives final Fed approval for CIT merger; close expected early Jan 2022
Received final regulatory approval from the Federal Reserve Board for merger with CIT Group.
First Citizens Q3 net income $124.1M, down 13% YoY; EPS $12.17 vs $14.03; NIM 2.61%
Net income fell to $124.1M from $142.7M YoY; diluted EPS $12.17 vs $14.03.
First Citizens and CIT extend merger deadline to March 2022; FRB approval still pending
Merger agreement extended from Oct 15, 2021 to March 1, 2022, to allow more time for Federal Reserve Board approval.
On January 16, 2024, First Citizens BancShares, Inc. (“BancShares”) announced the appointment of Gregory L. Smith, age 59, to the position of Chief Information & Operations Officer, effective January 9, 2023.
On January 16, 2024, BancShares announced the appointment of Gregory L. Smith, age 59, to the position of Chief Information & Operations Officer, effective January 9, 2024.
appointed David G. Leitch, age 62, to the Board effective January 1, 2024.
the Board appointed Dr. Eugene Flood, Jr., age 66, to the Board effective January 1, 2023 to fill the vacancy that will be created by Mr. Heavner’s retirement.
Mr. Daniel Heavner, age 75, notified the Board of Directors (the “Board”) of First Citizens BancShares, Inc. (“BancShares”) that he would retire from his position as a director of BancShares and its subsidiary, First-Citizens Bank & Trust Company (“FCB”), effective on December 31, 2022.
At the Effective Time, Marisa J. Harney, the former Chief Credit Officer of CIT, was appointed as the Chief Credit Officer of FCB.
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.
Max materiality 1.00 · Median 0.65 · Most common event earnings