GlobeNewswire Inc | Oct 27, 2020 04:13PM EDT

October 27, 2020

RALEIGH, N.C., Oct. 27, 2020 (GLOBE NEWSWIRE) -- The Board of Directors of First Citizens BancShares Inc. (Nasdaq: FCNCA) declared on Oct. 27, 2020, a quarterly dividend of 47 cents per share on the companys Class A and Class B common stock. The dividend is payable Jan. 4, 2021, to shareholders of record Dec. 14, 2020.

The Board also declared a regular quarterly dividend on the companys 5.375% non-cumulative perpetual preferred stock, Series A, to be paid on Dec. 15, 2020, to holders of record as of Nov. 30, 2020.

(There are currently 345,000 outstanding shares of the Series A preferred stock which are held pursuant to a Deposit Agreement dated March 12, 2020. Under that agreement, an aggregate of 13,800,000 depositary shares were issued, each representing a 1/40th interest in a share of the Series A preferred stock.)

ABOUT FIRST CITIZENS BANCSHARES

First Citizens BancShares Inc. is the financial holding company for First Citizens Bank. First Citizens Bank provides a broad range of financial services to individuals, businesses, professionals and the medical community through branch offices in 19 states, digital banking, ATMs and telephone banking. As of Sept. 30, 2020, BancShares had total assets of $48.67 billion. For more information, visit First Citizens Web site at firstcitizens.com.

Contact:Barbara ThompsonFirst Citizens BancShares919-716-2716