First Citizens BancShares, Inc. Depositary Shares, each representing a 1/40th interest in a share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E
FCNCN
NASDAQ Global Select25.42
USD
+0.01
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First Citizens BancShares, Inc. Depositary Shares, each representing a 1/40th interest in a share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E
FCNCN
(NASDAQ Global Select)
Recent
price
25.42
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- First Citizens BancShares, Inc. deposits each share of 6.625% Non-Cumulative Perpetual Preferred Stock, Series E, deposited as 1/40th fractional depositary shares, and operates as the holding company for First-Citizens Bank & Trust Company, providing a full range of retail and commercial banking services in the United States with a focus on core banking, lending, and wealth management activities; the entity is headquartered in Raleigh, North Carolina, and traces its lineage to late 20th century formation with expansive growth through acquisitions and branch network expansion. Main products and services - Retail banking: consumer banking, deposit products (checking, savings, certificates of deposit), digital banking, payment and cash management services - Commercial banking: small and middle-market lending, commercial real estate finance, equipment leasing, treasury management, cash flow services, and advisory support - Specialty finance and equipment leasing: rail and transportation financing, asset-backed lending, secured financing solutions - Wealth and trust services: wealth management, trust and fiduciary services, investment advisory, fiduciary administration - Corporate and investment services: capital markets access, corporate lending, mergers and acquisitions advisory support, treasury and risk management solutions - Specialty depositary shares: Series E preferred stock offerings and related warehouse/depositary share programs; ongoing capital markets activity related to preferred equity issuances - Digital and advisory platforms: online banking, mobile apps, business advisory resources, financial planning tools Latest major company changes - Strategic capital actions: completes a public offering of 16,000,000 depositary shares representing 1/40th of a Series E preferred share, with a liquidation preference of $1,000 per share and an initial fixed dividend rate of 6.625% until March 15, 2031, followed by periodic resets - Consolidation and expansion activity: continues integration and expansion following major acquisitions and mergers that broaden market footprint and product capabilities; ongoing optimization of capital structure through preferred equity issuances - Product and service enhancements: updates to preferred equity programs and related investor communications; enhancement of digital banking and treasury management capabilities to support expanded client base - Governance and corporate structure: designation and issuance updates for Series E preferred stock; ongoing regulatory filings aligning with capital requirements and investor disclosures Industry context and markets - Industry: banking and financial services, with segments in general banking, commercial banking, rail financing, and wealth management - Target markets: consumer retail customers, small to middle-market businesses, corporate clients, and institutional investors - Geographic reach: United States with a nationwide branch and digital banking presence; headquarters in Raleigh, North Carolina, with a broad geographic footprint across multiple states - Corporate relationships: parent company structure under First Citizens BancShares, Inc., with subsidiary First-Citizens Bank & Trust Company guiding day-to-day banking operations; participates in capital markets activities through preferred equity programs Founding year and headquarters - Founding year: the holding company traces its evolution through late 20th century corporate history; current corporate identity and public market presence established in the 1990s and expanded through subsequent mergers and acquisitions - Headquarters: Raleigh, North Carolina Subsidiaries and ownership - Primary subsidiary: First-Citizens Bank & Trust Company - Central corporate relationship: parent company First Citizens BancShares, Inc.; local and regional banking operations conducted through chartered affiliates and operating units across the United States Notes - The Series E preferred stock offerings reflect the company’s ongoing strategy to diversify capital structure and support growth initiatives while maintaining strong liquidity and capital adequacy, with depositary shares representing fractional interests in the preferred shares - The description aligns with the company’s public disclosures, investor relations materials, and regulatory filings surrounding recent preferred equity issuances and related corporate actions