[8-K] First Citizens BancShares Inc Reports Material Event

Rhea-AI Filing Summary

On 25 Jul 2025, First Citizens BancShares (FCNCA) filed an 8-K announcing two material developments.

Item 2.02: The company released second-quarter 2025 results via press release (Ex 99.1), financial supplement (Ex 99.3) and investor presentation (Ex 99.2). Management will review the quarter on a conference call at 9 a.m. ET, 25 Jul 2025. Specific revenue, EPS and capital ratios are contained in the exhibits, not in the body of the filing.

Item 8.01: The Board approved a new share-repurchase program (“2025 SRP”) authorizing the buyback of up to $4.0 billion of Class A common stock through 2026. Purchases may occur on the open market or via private transactions, including Rule 10b5-1 plans, and can be modified, suspended or terminated at any time at management’s discretion once the existing 2024 SRP is completed.

No additional financial metrics, guidance or strategic changes are provided in the text; investors must consult the attached exhibits for quantitative detail.

Insights

Equity Analyst

TL;DR: $4 billion buyback authorization signals confidence and boosts capital-return flexibility; financial results details are in exhibits.

The new 2025 SRP is sizeable for a regional bank and extends through 2026, indicating management’s willingness to deploy excess capital toward shareholder returns. Because execution is discretionary, cash deployment can be aligned with market conditions or capital needs. The lack of embedded minimum levels preserves balance-sheet flexibility and regulatory headroom. While the filing withholds actual Q2 performance figures, investors typically view a large authorization as supportive for EPS and book-value accretion, assuming shares are repurchased below intrinsic value.

Risk Analyst

TL;DR: Positive headline, but program’s optional nature limits certainty of shareholder benefit.

The 2025 SRP can be paused or cancelled without notice, leaving execution risk. Repurchases hinge on price, regulatory requirements and competing capital uses, all expressly flagged by the company. Forward-looking-statement language highlights macro, regulatory and liquidity variables that could constrain actual buyback volumes. Investors should monitor future 10-Q filings for repurchase activity data and capital ratios.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 25, 2025

_________________________________________________________________

First Citizens BancShares, Inc.

(Exact name of registrant as specified in its charter)

Delaware			001-16715			56-1528994
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

4300 Six Forks Road			Raleigh			North Carolina			27609
(Address of principal executive offices)									(Zip Code)

Registrant’s telephone number, including area code: (919) 716-7000

________________________________________________________________________________

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered Pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each class			Trading Symbol			Name of each exchange on which registered
Class A Common Stock, Par Value $1			FCNCA			Nasdaq Global Select Market
Depositary Shares, Each Representing a 1/40th Interest in a Share of 5.375% Non-Cumulative Perpetual Preferred Stock, Series A			FCNCP			Nasdaq Global Select Market
5.625% Non-Cumulative Perpetual Preferred Stock, Series C			FCNCO			Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

    Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On July 25, 2025, First Citizens BancShares, Inc. (“BancShares”) announced its results of operations for the quarter ended June 30, 2025. Copies of BancShares’ press release and financial supplement containing this information are included with this Current Report on Form 8-K (this “Report”) as Exhibit 99.1 and Exhibit 99.3, respectively, and are incorporated into this Item 2.02 by reference. The press release and financial supplement are available on BancShares’ internet site at http://www.ir.firstcitizens.com.

Item 7.01. Regulation FD Disclosure.

As previously announced, BancShares will host a conference call at 9 a.m. Eastern time on Friday, July 25, 2025, to discuss its financial results for the quarter ended June 30, 2025. The slides that will be made available in connection with the presentation are included with this Report as Exhibit 99.2 hereto and incorporated into this Item 7.01 by reference.

In accordance with General Instruction B.2 of Form 8-K, the information presented herein pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure,” including Exhibits 99.1, 99.2 and 99.3, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall the information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing, except as expressly set forth by specific reference in such filing.

Item 8.01.    Other Events.

On July 25, 2025, BancShares announced that its Board of Directors (the “Board”) had authorized a share repurchase program (the “2025 SRP”), which will allow BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $4.0 billion through 2026. Repurchases of BancShares’ Class A common stock under the 2025 SRP may commence upon completion of BancShares’ share repurchase program announced on July 25, 2024 (the “2024 SRP”).

Under the 2025 SRP, shares of BancShares’ Class A common stock may be purchased from time to time on the open market or in privately negotiated transactions, including through a Rule 10b5-1 plan, but the Board’s action does not obligate BancShares to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice.

The authorization to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Information regarding share repurchases will be available in BancShares’ periodic reports on Form 10-Q and Form 10-K filed with the Securities and Exchange Commission (the “Commission”) as required by the applicable rules of the Exchange Act.

Item 9.01.    Financial Statements and Exhibits.

    (d) Exhibits. The following exhibits accompany this Report.

Exhibit No.						Description
99.1						Earnings Release Second Quarter 2025
99.2						Investor Presentation Second Quarter 2025
99.3									Financial Supplement Second Quarter 2025
104									Cover Page Interactive Data File (embedded within the Inline XBRL document)

Disclosures About Forward-Looking Statements

This Report contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue”, “aims” or other

similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions.

Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs or trade barriers on trading partners), political (including the makeup of the U.S. Congress and Trump administration), geopolitical events (including conflicts in Ukraine and the Middle East), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares’ vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares’ loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the “Federal Reserve”), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares’ ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares’ capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the impact of implementation and compliance with current or proposed laws (including the 2025 U.S. budget reconciliation legislation), regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums and the proposed interagency rule on regulatory capital, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, and the risks associated with BancShares’ previous acquisition transactions, including the acquisition of certain assets and liabilities of Silicon Valley Bridge Bank, N.A. and the previously completed merger with CIT Group Inc., or any future transactions.

BancShares’ 2024 SRP allows BancShares to repurchase shares of its Class A common stock through 2025. After completion of maximum repurchases under the 2024 SRP, BancShares’ 2025 SRP allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2024 SRP or the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorizations to repurchase Class A common stock will be utilized at management’s discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2024 SRP or the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs.

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, 2024 and its other filings with the Commission.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

First Citizens BancShares, Inc.

(Registrant)

Date:

July 25, 2025

By:

/s/ Craig L. Nix

Craig L. Nix

Chief Financial Officer