On March 28, 2017, First-Citizens Bank & Trust Company (“FCB”), the Registrant’s wholly-owned subsidiary, entered into an agreement with the Federal Deposit Insurance Corporation (the “FDIC”) to terminate FCB’s shared-loss agreement for Venture Bank. The shared-loss agreement was entered into on September 11, 2009 in conjunction with FCB’s acquisition of assets and assumption of liabilities>of Venture Bank through an FDIC-assisted transaction. Under the terms of the termination agreement, FCB made a payment of $286 thousand to the FDIC as consideration for early termination of the loss share agreement.

About First Citizens BancShares, Inc. (NASDAQ:FCNCA)

First Citizens BancShares, Inc. is a holding company. The Company invests the liquidity generated from its funding sources in interest-earning assets, including loans and leases, investment securities and overnight investments. It also invests in bank premises, hardware, software, furniture and equipment used to conduct its commercial banking business. The Company provides treasury services products, cardholder and merchant services, wealth management services and various other products and services typically offered by commercial banks. The Company conducts its banking operations through its subsidiary, First-Citizens Bank & Trust Company (FCB), a state-chartered bank. FCB offers services, including taking of deposits, cashing of checks and providing for individual and commercial cash needs; checking and savings plans; commercial, business and consumer lending; a full-service trust department; wealth management services, and other activities incidental to commercial banking.

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Recent Trading Information

First Citizens BancShares, Inc. (NASDAQ:FCNCA) closed its last trading session down -2.97 at 332.40 with 23,319 shares trading hands.