First Citizens BancShares Files 8-K

TL;DR

FCBC filed an 8-K with financial statements and exhibits. No major news.

AI Summary

First Citizens BancShares Inc. (FCBC) filed an 8-K on August 14, 2024, primarily to report financial statements and exhibits. The filing does not detail any specific new events, acquisitions, or significant financial changes, but rather serves as a routine update and submission of required documentation.

Why It Matters

This filing is a standard regulatory submission, indicating ongoing compliance and providing updated financial information for investors and analysts.

Risk Assessment

Risk Level: low — The filing is a routine submission of financial statements and exhibits, not indicating any new risks or significant events.

Key Players & Entities

• FIRST CITIZENS BANCSHARES INC /DE/ (company) — Filer
• 0000798941-24-000042 (filing_id) — Accession Number
• 20240814 (date) — Filing Date

FAQ

Key Financial Figures

• $1 — stered Class A Common Stock, Par Value $1 FCNCA Nasdaq Global Select Market Depo

Filing Documents

• fcnca-20240814.htm (8-K) — 913KB
• exhibit_231xkpmgconsent.htm (EX-23.1) — 2KB
• fcnca-20240814_d2.htm (EX-99.1) — 6938KB
• 0000798941-24-000042.txt ( ) — 39377KB
• fcnca-20240814.xsd (EX-101.SCH) — 184KB
• fcnca-20240814_cal.xml (EX-101.CAL) — 382KB
• fcnca-20240814_def.xml (EX-101.DEF) — 1165KB
• fcnca-20240814_lab.xml (EX-101.LAB) — 1872KB
• fcnca-20240814_pre.xml (EX-101.PRE) — 1586KB
• fcnca-20240814_htm.xml (XML) — 9718KB

01. Other Events

Item 8.01. Other Events. First Citizens BancShares, Inc. ("we," "our," or "BancShares") is filing this Current Report on Form 8-K (this "Report") to retrospectively revise certain historical financial information and related disclosures included in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the "SEC") on February 23, 2024 (our "2023 Form 10-K"), to conform with the segment reporting changes described below. The segment disclosures in our 2023 Form 10-K included financial results for the General Bank, Commercial Bank, Silicon Valley Banking, and Rail segments and Corporate. As disclosed in our Quarterly Report on Form 10-Q ("Form 10-Q") for the quarter ended March 31, 2024 filed with the SEC on May 9, 2024, we made the following changes to our segment reporting during the first quarter of 2024: the private banking and wealth management components of the Silicon Valley Banking ("SVB") segment were integrated into the General Bank segment which already included other wealth management activities; the SVB segment was renamed SVB Commercial as its customers primarily include commercial clients in key innovation markets, as well as private equity and venture capital clients; and the Direct Bank (a nationwide digital banking platform that delivers deposit products to consumers) previously allocated to the General Bank segment was transitioned to Corporate which already included borrowings and brokered deposits. Segment disclosures and related information for all quarterly periods included in our Form 10-Qs for the quarters ended June 30 and March 31, 2024 conformed with the above described changes to our reportable segments. In Exhibit 99.1 attached hereto and incorporated by reference into Item 9.01 of this Report, the following items from our 2023 Form 10-K have been retrospectively revised to conform with the above described changes to our reportable segments:

, Item 1. Business,

Part I, Item 1. Business,

, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and

Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations, and

, Item 8. Financial Statements and Supplementary Data

Part II, Item 8. Financial Statements and Supplementary Data. This Report, including Exhibit 99.1, does not reflect activities or events occurring after we filed our 2023 Form 10-K and does not modify or update information or disclosures in our 2023 Form 10-K, other than to reflect the above described changes in segment reporting. The information in this Report, including Exhibit 99.1, should be read in conjunction with our 2023 Form 10-K, our Form 10-Qs for the quarters ended June 30 and March 31, 2024, and our other subsequent filings with the SEC.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits . The following exhibits accompany this Report: Exhibit No. Description 23.1 Consent of Independent Registered Public Accounting Firm, KPMG LLP (filed herewith) 99.1 Excerpts from BancShares' Annual Report on Form 10-K for the year ended December 31, 2023 reflecting revisions to the following items for changes in segments: Part I, Item 1. Business; Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations; and Part II, Item 8. Financial Statements and Supplementary Data. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES 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: August 14, 2024 By: /s/ Craig L. Nix Name: Craig L. Nix Title: Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR