Company: FCNCB
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001193125-25-283229
Chunk: 20

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-14
Form: 424B5
Chunk 20
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 be substantial. Further, because the depositary shares do not have a stated maturity date, investors seeking liquidity in the depositary shares will be limited to selling their depositary shares in the secondary market. We do not expect that there will be any separate public trading market for the shares of the Series D Preferred Stock, except as represented by the depositary shares. General market conditions and unpredictable factors could adversely affect market prices for the depositary shares. There can be no assurance about the market prices for the depositary shares. Several factors, many of which are beyond our control, will influence the market prices of the depositary shares. Future trading prices of the depositary shares will depend on many factors, including:

| • |     | whether dividends have been authorized or declared or are likely to be authorized or declared on the Series D 
 Preferred Stock from time to time;                                                                            |

| • |     | our operating performance, financial condition, and prospects, or the operating performance, financial condition, 
 and prospects of our competitors;                                                                                 |

| • |     | our creditworthiness; |

| • |     | the ratings given to our securities by credit rating agencies, including the ratings given to the Series D 
 Preferred Stock or the depositary shares;                                                                  |

| • |     | prevailing interest rates; |

| • |     | economic, financial, geopolitical, regulatory, or judicial events affecting us or the financial markets 
 generally; and                                                                                          |

| • |     | the market for similar securities. |

Accordingly, the depositary shares may trade at a discount to the prior price per share originally paid for such shares, whether in this offering or in the secondary market. Holders of depositary shares may be unable to use the dividends-received deduction. Distributions paid to corporate U.S. holders of the depositary shares may be eligible for the dividends-received deduction if we have current or accumulated earnings and profits, as determined for U.S. federal income tax purposes. Although we presently have accumulated earnings and profits, we may not have sufficient current or accumulated earnings and profits during future taxable years for the distributions on the Series D Preferred Stock to qualify, in whole or in part, as dividends for U.S. federal income tax purposes. See “Certain U.S. Federal Income Tax Considerations.” There may also be future changes in tax law that impact the availability of the dividends-received deduction. If any distributions on the Series D Preferred Stock with respect to any taxable year are not eligible for the dividends-received deduction because of insufficient