UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 First Citizens BancShares, Inc. (Exact name of Registran ...

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q2 2023 Results Conference Call August 3, 2023 9:00 AM ET Company Participants Deanna Hart - SVP, IR Frank Holding - Chairman and CEO Peter Bristow - President Craig Nix - CFO Robert Hawley - Director, Corporate Accounting and Accounting Policy Conference Call Participants Brady Gailey - KBW Stephen Scouten - Piper Sandler Kevin Fitzsimmons - D.A. Davidson Brian Foran - Autonomous Research Christopher Marinac - Janney Montgomery Scott Brody Preston - UBS Operat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 First Citizens BancShares, Inc. (Exact name of Registrant as ...

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q1 2023 Earnings Conference Call May 10, 2023 9:00 AM ET Company Participants Deanna Hart - SVP, IR Frank Holding - Chairman and CEO Peter Bristow - President Craig Nix - CFO Elliot Howard - Manager Mergers and Acquisitions Tom Eklund - Treasurer Lorie Rupp - Chief Risk Officer Conference Call Participants Stephen Scouten - Piper Sandler Brady Gailey - KBW Kevin Fitzsimmons - DA Davidson Christopher Marinac - Janney Montgomery Scott Brody Preston - UBS Operato ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 First Citizens BancShares, Inc. (Exact name of Registrant as ...

Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares' Annual Report on Form 10-K for the fiscal year ended December 31, 2022, and its other filings with the Securities and Exchang ...

Company and Industry Overview * **Company**: First Citizens BancShares, Inc. (NASDAQ: FCNCA) * **Industry**: Banking, specifically focusing on commercial lending, private banking, and wealth management. * **Key Event**: Acquisition of Silicon Valley Bridge Bank, N.A. by First Citizens Bank. Core Points and Arguments * **Acquisition Details**: * First Citizens acquired $110 billion in assets, including $72 billion in loans and $56 billion in deposits. * The acquisition included 20 branch locations and private banking offices, expanding First Citizens' footprint to 570 locations. * The transaction was structured to maintain First Citizens' strong capital ratios and liquidity position. * First Citizens entered into a loss-share agreement with the FDIC to limit credit risk. * The acquisition was immediately accretive to tangible book value per share and earnings per share. * **Strategic Benefits**: * **Scale and Growth**: The acquisition enhances First Citizens' scale, expands its customer base, and accelerates growth in key markets. * **Innovation and Technology**: The acquisition strengthens First Citizens' presence in the innovation and technology sectors, leveraging Silicon Valley Bank's expertise and relationships. * **Diversification**: The acquisition diversifies First Citizens' client base and expands its offerings, particularly in the venture capital and private equity communities. * **Risk Management**: First Citizens maintains a strong risk management culture and continues to prioritize conservative practices. Other Important Points * **Customer Value Proposition**: The acquisition strengthens First Citizens' commitment to long-term, high-quality relationships and expands its ability to serve a broader range of customer needs. * **Employee Benefits**: The acquisition creates additional career opportunities and mobility for First Citizens' employees, while also leveraging the expertise and experience of Silicon Valley Bank's team. * **Community Impact**: First Citizens and Silicon Valley Bank share a commitment to investing in and supporting their communities, and the acquisition will further enhance their ability to do so. * **Financial Impact**: * The acquisition is expected to be accretive to tangible book value per share and earnings per share. * First Citizens expects to maintain its capital ratios within or above its target ranges without the need to raise additional capital. * The acquisition is expected to generate significant revenue synergies and cost savings. * **Regulatory Considerations**: * First Citizens will remain a Category 4 bank following the acquisition. * First Citizens has no current plans to move up to a Category 3 bank. Conclusion The acquisition of Silicon Valley Bridge Bank by First Citizens Bank represents a significant strategic move that enhances the company's scale, capabilities, and market position. The transaction is expected to be immediately accretive to financial performance and provides a strong foundation for future growth and success.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 Commission File Number: 001-16715 ____________________________________________________ FIRST CITIZENS BANCSHARES, INC. (Exact name of Registrant as specified in its charter) _______________________________ ...

Start Time: 09:00 January 1, 0000 10:04 AM ET First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q4 2022 Earnings Conference Call January 26, 2023, 09:00 AM ET Company Participants Frank Holding - Chairman and CEO Craig Nix - CFO Tom Eklund - Treasurer Marisa Harney - Chief Credit Officer Elliot Howard - Manager Mergers and Acquisitions Deanna Hart - SVP, IR Conference Call Participants Brady Gailey - KBW Stephen Scouten - Piper Sandler Brian Foran - Autonomous Christopher Marinac - Janney Montgomery Scott Oper ...

Financial Performance Highlights - Net interest income increased by $7 million from Q3 2022, primarily due to a higher yield on earning assets and loan growth[47] - Noninterest income increased by $2 million from Q3 2022, driven by higher rental income on operating leases, factoring commissions, service charges on deposits, and insurance commissions[47] - Adjusted efficiency ratio declined from 643% in 2021 to 564% in 2022, with a fourth-quarter ratio of 541%[12] - Adjusted pre-provision net revenue was up $557 million, a 455% increase over 2021[11] Key Strategic Objectives and Accomplishments - Achieved approximately $200 million in cost savings in 2022 and expect to recognize the remaining approximately $50 million of targeted cost savings in 2023[10] - Loans grew by $56 billion, or 85%, driven by solid performance in both the General and Commercial banks[32] - Repurchased 15 million Class A common shares for $12 billion during the third and fourth quarters[32] Balance Sheet and Capital Management - Common Equity Tier 1 (CET1) capital ratio was 1008% in Q4 2022, a decrease of 142% compared to Q4 2021[138] - Tangible book value per common share was $57189 in Q4 2022, compared to $41074 in Q4 2021[138] - The company strategically surrendered $12 billion in BOLI policies, triggering a taxable gain of $160 million and resulting in a tax expense of $55 million[67, 81]