Company: FCNCB
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001193125-25-283229
Chunk: 29

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-11-14
Form: 424B5
Chunk 29
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 (i) or (ii) above), we may, in our sole discretion, designate an
unaffiliated agent or advisor, which may include an unaffiliated underwriter for the offering of the depositary shares representing interests in the Series D Preferred Stock or any affiliate of any such underwriter (the “Designee”), to
determine whether there is an industry-accepted successor rate to the then-applicable base rate (which, as of the original issue date of the Series D Preferred Stock, is the initial base rate). If the Designee determines that there is such an
industry-accepted successor base rate, then the five-year treasury rate will be such successor base rate and, in that case, the Designee may then determine and adjust the business day convention, the definition of business day, and the reset
dividend determination date to be used and any other relevant methodology for determining or otherwise calculating such successor base rate, including any adjustment factor needed to make such successor base rate comparable to the then-applicable
base rate (which, as of the original issue date of the Series D Preferred Stock, is the initial base rate) in each case, in a manner that is consistent with industry-accepted practices for the use of such successor rate. If we, in our sole
discretion, do not designate a Designee or if the Designee determines that there is no industry-accepted successor rate to the then-applicable base rate, then the five-year treasury rate will be the same interest rate determined for the prior reset
dividend determination date or, if this sentence is applicable with respect to the first reset dividend determination date, 3.699%.

“H.15 Daily” means the daily statistical release designated as such, or any successor publication, published by the Federal
Reserve.

The five-year treasury rate will be determined by the calculation agent on the third business day immediately preceding the
applicable reset date.

Dividends on the Series D Preferred Stock will be non-cumulative. If for
any reason our board of directors or a duly authorized committee of our board does not authorize and we do not declare cash dividends on the Series D Preferred Stock for a dividend period (or if less than full dividends for any dividend period are
authorized and declared), the holders of the Series D Preferred Stock will have no right to receive any dividends or a full dividend, as applicable, for that period, whether or not our board of directors or a duly authorized

S-17

committee of our board authorizes and