Current Report Filing (8-k)

Date : 09/23/2019 @ 5:06PM
Source : Edgar (US Regulatory)
Stock : First Citizens Bancshares Inc (FCNCA)
Quote : 313.47  0.0 (0.00%) @ 1:30PM

Current Report Filing (8-k)

false0000798941 0000798941 2019-09-18 2019-09-18

Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 2019
First Citizens BancShares Inc /DE/
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer Identification No.)

4300 Six Forks Road
North Carolina
(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
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 8.01. Other Events
On September 18, 2019, First Citizens BancShares, Inc. (“BancShares”) purchased 50,000 shares of its outstanding Class A common stock from Ella Ann Holding, as trustee of her revocable trust (the “Repurchase”). Mrs. Holding is the widow of BancShares’ former Executive Vice Chairman, Frank B. Holding, and the mother of Frank B. Holding, Jr. and Hope H. Bryant, BancShares’ Chairman and Chief Executive Officer and Vice Chairman, respectively.
The Repurchase was made pursuant to previous board action authorizing the purchase in the aggregate of up to 800,000 shares of Class A common stock on the open market or in private transactions during the period commencing July 1, 2019 and continuing through June 30, 2020. Pursuant to the existing share purchase authorization, the board’s independent Audit Committee reviewed and approved the repurchase of up to 250,000 shares held by Mrs. Holding on or before April 30, 2020, pursuant to BancShares’ related person transaction policy.

BancShares funded the Repurchase from its cash reserves.

(d) Exhibits. The following exhibit accompanies this report.
Exhibit No.
Cover Page Interactive Data File (embedded within the Inline XBRL document)

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.
September 23, 2019
By: /s/ Craig L. Nix
Craig L. Nix
Chief Financial Officer

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