Current Report Filing (8-k)
November 17 2020 - 04:33PM
Edgar (US Regulatory)
November 16, 20200000798941falseFirst
Citizens BancShares Inc
/DE/00007989412020-11-162020-11-160000798941us-gaap:CommonClassAMember2020-11-162020-11-160000798941us-gaap:SeriesAPreferredStockMember2020-11-162020-11-16
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): November 16,
2020
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First Citizens BancShares, Inc.
(Exact name of registrant as specified in its charter)
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Delaware |
001-16715 |
56-1528994 |
(State or other jurisdiction
of incorporation)
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(Commission File Number) |
(IRS Employer Identification No.) |
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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)
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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)) |
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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:
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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 |
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 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensation
Arrangement of Certain Officers
On November 16, 2020, Jason W. Grooters, our Assistant Vice
President and Chief Accounting Officer, notified First Citizens
BancShares, Inc. (the “Company”) of his intention to resign from
his position as Vice President and Chief Accounting Officer of the
Company and its subsidiary, First-Citizens Bank & Trust
Company, effective as of November 30, 2020 (the “Effective Date”).
Mr. Grooters has decided to pursue other professional
opportunities, and his departure is not the result of any dispute
or disagreement with the Company.
As of the Effective Date, the Company intends that the roles of
principal accounting officer and controller will be separated and
Craig L. Nix, our Chief Financial Officer, will assume the role of
the Company’s principal accounting officer, in addition to
continuing in his role as the Company’s principal financial
officer. The Company is in the process of hiring a controller to
assume those duties as of December 1, 2020.
Mr. Nix, age 49, has served as our Chief Financial Officer since
November 2014. Prior to joining the Company, Mr. Nix served as the
Executive Vice President and Chief Financial Officer of First
Citizens Bancorporation and First Citizens Bank of South Carolina
from 2001 to 2014. Mr. Nix has been employed by First Citizens Bank
since 1999. He earned a bachelor’s degree from the University of
South Carolina and is a graduate of Vanderbilt University’s BAI
(Bank Administration Institute) and the Graduate School of Bank
Financial Management. Mr. Nix is also a certified public
accountant.
No new compensatory arrangements will be entered into with Mr. Nix
in connection with his appointment as our principal accounting
officer.
Mr. Nix was not appointed as our principal accounting officer
pursuant to any arrangement or understanding with any other person.
Mr. Nix does not have any family relationships with any executive
officer or director of the Company. Mr. Nix is not a party to any
transaction required to be disclosed pursuant to Item 404(a) of
Regulation S-K.
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.
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First Citizens BancShares, Inc. |
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(Registrant) |
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Date: |
November 17, 2020 |
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By: /s/ Craig L. Nix |
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Craig L. Nix |
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Chief Financial Officer |
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