Company: FCNCB
Filing Date: 2025-03-06
Form Type: 424B5
Source: 0001193125-25-047965
Chunk: 69

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-03-06
Form: 424B5
Chunk 69
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ebtedness (as defined below), including the senior notes. The subordinated notes will be effectively subordinated in right of payment to any future secured indebtedness of BancShares to the extent of the value of the collateral securing such indebtedness. The subordinated notes will not be guaranteed by any of our subsidiaries, including First Citizens Bank, which is our principal subsidiary, and as a result they will be structurally subordinated to 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 subordinated notes would have any claim to those assets. The Subordinated Indenture and the subordinated notes do not limit the amount of Senior Indebtedness, secured indebtedness, or other liabilities having priority over, or ranking equally with, the subordinated notes that we or our subsidiaries may hereafter incur. As of December 31, 2024, on a consolidated basis, the Company’s liabilities totaled approximately $201.49 billion, which includes approximately $155.23 billion of deposit liabilities, $750 million of outstanding subordinated notes issued or assumed by BancShares and First Citizens Bank, $51 million of senior unsecured notes issued or assumed by First Citizens Bank, $36.37 billion of other borrowings, including the $35.99 billion Purchase Money Note, and $9.09 billion of other liabilities. Except for the approximately $350 million of existing subordinated notes issued by BancShares (which rank equally in right of payment and upon our liquidation to the subordinated notes), all of these liabilities are contractually or structurally senior to the subordinated notes. “Senior Indebtedness” means, without duplication, the principal, premium, if any, unpaid interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization relating to BancShares, whether or not a claim for post-filing interest is allowed in such proceeding), fees, charges, expenses, reimbursement, and indemnification obligations, and all other amounts payable under or in respect of the following indebtedness of BancShares, whether any such indebtedness exists as of the date of the Subordinated Indenture or is created, incurred or assumed after such date:

| • |     | all obligations for borrowed money; |

| • |     | all obligations evidenced by debentures, notes, debt securities