Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 80

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 80
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 Series B Preferred Stock and Series C Preferred Stock as disclosed in Note 12—Stockholders' Equity. In July 2025, the Board declared dividends on our Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock in accordance with their terms. The dividends are payable on September 15, 2025. 

Capital Composition and Ratios

As discussed earlier in the “Recent Events” section of this MD&A, the Board authorized the Class A common stock 2024 SRP and the new 2025 SRP that may commence repurchases upon completion of the 2024 SRP. During the Current Quarter and Current YTD, we repurchased 338,959 and 641,642 shares, respectively, under the 2024 SRP. Refer to the “Recent Events” section above for more information and Part II, Item 2. Unregistered Sales of Equity Securities and Use of Proceeds for our monthly repurchase activity during the Current Quarter. 

The following table details the change in outstanding Class A common stock through June 30, 2025. Refer to Note 12—Stockholders' Equity for additional information.

Table 52

Changes in Shares of Class A Common Stock Outstanding

Three Months Ended June 30, 2025Six Months Ended June 30, 2025Class A common stock shares outstanding at beginning of period12,409,753 12,712,436 Shares repurchased under authorized repurchase plan(338,959)(641,642)Class A common stock shares outstanding at end of period12,070,794 12,070,794 

We also had 1,005,185 Class B common stock outstanding at June 30, 2025 and December 31, 2024.

We are committed to effectively managing our capital to protect our depositors, creditors and stockholders. We continually monitor the capital levels and ratios for BancShares and FCB to ensure they exceed the minimum requirements imposed by regulatory authorities and to ensure they are appropriate given growth projections, risk profile and potential changes in the regulatory or external environment. Failure to meet certain capital requirements may result in actions by regulatory agencies that could have a material impact on our operations or consolidated financial statements.

101

In accordance with GAAP, the unrealized gains and losses on certain assets and liabilities, net of deferred taxes, are included in accumulated other comprehensive loss within stockholders’ equity. These amounts are excluded from the calculation of our regulatory capital ratios under current regulatory guidelines.

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