First Citizens BancShares Closes $300M Series F Preferred Stock Offering

Summary of Reportable Events

1. Issuance of Series F Preferred Stock (Item 3.03 & Item 5.03)

• Designation: On September 11, 2026, First Citizens BancShares, Inc. filed a Certificate of Designation in Delaware creating the 7.500% Non-Cumulative Perpetual Preferred Stock, Series F ($0.01 par value, $100,000 per share liquidation preference).
• Offering Structure: The company offered and sold 300,000 Depositary Shares, each representing a 1/100th interest in a share of Series F Preferred Stock ($1,000 liquidation preference per depositary share), totaling $300 million in aggregate liquidation preference.
• Dividend Terms:
  • Initial Period: 7.500% per annum, payable quarterly in arrears commencing December 15, 2026, up to September 15, 2031.
  • Reset Period: From September 15, 2031, dividends reset every five years to the prevailing 5-year Treasury rate plus 2.894% per annum.
• Ranking: Parity with existing Series A, B, C, D, and E Preferred Stock; senior to common stock.
• Redemption: Callable at the company's option on or after September 15, 2031, or earlier following a Regulatory Capital Treatment Event, subject to Federal Reserve approval.

2. Offering Closing (Item 8.01)

• On September 14, 2026, the public offering closed pursuant to the Underwriting Agreement dated September 9, 2026, led by Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC.