Company: FCNCB
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195116
Chunk: 25

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-09-04
Form: 424B5
Chunk 25
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 Subordination

The Notes
will be unsecured, subordinated obligations of BancShares. The Notes will rank equally in right of payment and upon our liquidation with all of our existing and future indebtedness, the terms of which provide that such indebtedness ranks equally
with the Notes, and senior in right of payment and upon our liquidation to any of our future indebtedness, the terms of which provide that such indebtedness ranks junior in right of payment to the Notes. Our obligation to make any payment on account
of the Notes will be subordinated in right of payment and junior to our Senior Indebtedness (as defined below). The Notes will be effectively subordinated in right of payment to all of our existing and future secured indebtedness of BancShares to
the extent of the value of the collateral securing such indebtedness.

S-14

The Notes will not be guaranteed by any of our subsidiaries, including First Citizens Bank, which is our principal subsidiary, and as a result the Notes will be structurally subordinated to all of the existing and future indebtedness of our subsidiaries, including without limitation First Citizens Bank’s depositors, liabilities to general creditors, and liabilities arising in the ordinary course of business or otherwise, which means that such creditors generally will be paid from those subsidiaries’ assets before holders of the Notes would have any claim to those assets. The Subordinated Indenture and the Notes do not limit the amount of Senior Indebtedness, secured indebtedness, or other liabilities having priority over, or ranking equally with, the Notes that we or our subsidiaries may hereafter incur. As of June 30, 2025, on a consolidated basis, the Company’s liabilities totaled approximately $207.36 billion, which included approximately $159.94 billion of deposit liabilities, $500 million of the existing senior notes, $750 million of the existing subordinated notes, $400 million of subordinated notes issued or assumed by First Citizens Bank, $51 million of senior unsecured notes issued or assumed by First Citizens Bank, $36.53 billion of other borrowings, including the $35.99 billion Purchase Money Note, and $9.20 billion of other liabilities. Except for the approximately $750 million of the existing subordinated notes (which ranks equally in right of payment and upon our liquidation to the Notes), all of these liabilities are contractually, effectively, or structurally senior to the Notes. “Senior Indebtedness” means, without duplication, the principal, premium, if any,