First Citizens BancShares Declares Dividends
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RALEIGH, N.C., Jan. 26, 2024 /PRNewswire/ -- The Board of Directors (the "Board") of First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) declared on Jan. 24, 2024, dividends on the company's Class A and Class B common stock, as well as Series A, B and C preferred stock for the period commencing on and including the last respective payment date.

• As noted above, the Board declared a quarterly dividend of $1.64 per share on the company's Class A and Class B common stock. The dividend is payable March 15, 2024, to holders of record as of Feb. 29, 2024.
  
• The Board declared a regular quarterly dividend of $13.4375 per share on the company's 5.375% non-cumulative perpetual preferred stock, Series A (resulting in a distribution of $0.335938 per depositary share), to be paid on March 15, 2024, to holders of record as of Feb. 29, 2024.
  
• The Board declared a dividend of $24.0456 per share on the company's fixed-to-floating rate, non-cumulative perpetual preferred stock, Series B, to be paid on March 15, 2024, to holders of record as of Feb. 29, 2024. BancShares will pay the non-cumulative quarterly cash dividend at a rate of 9.61824%, which is equal to the three-month CME Term Secured Overnight Financing Rate ("SOFR") on the dividend determination date plus the applicable SOFR tenor spread adjustment of 0.26161% and a spread of 3.972%.
  
• Also, the Board declared a regular quarterly dividend of $0.351563 per share on the company's 5.625% non-cumulative perpetual preferred stock, Series C, to be paid on March 15, 2024, to holders of record as of Feb. 29, 2024.

ABOUT FIRST CITIZENS BANCSHARES

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First Citizens BancShares, Inc. (NASDAQ: FCNCA), a top 20 U.S. financial institution with more than $200 billion in assets, is the financial holding company for First-Citizens Bank & Trust Company ("First Citizens Bank"). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Discover more at firstcitizens.com.

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SOURCE First Citizens BancShares, Inc.

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