SCHEDULE: First Citizens BancShares Family Amends Class B Ownership

An amendment to Schedule 13D details changes in beneficial ownership of First Citizens BancShares Class B Common Stock among the Holding family members, with Hope H. Bryant's stake decreasing by over 1%.

Summary

• This is Amendment No. 6 to the Schedule 13D filing for First Citizens BancShares, Inc.
• The filing reports changes in beneficial ownership of the Issuer's Class B Common Stock by six members of the Holding family.
• Hope H. Bryant's beneficial ownership decreased by more than 1% since the previous amendment.
• Other reporting persons experienced changes of less than 1% in their beneficial ownership percentages.
• As of December 22, 2025, the aggregate beneficial ownership of Class B Common Stock by the reporting persons is 672,184 shares, representing approximately 66.87% of the outstanding shares.
• Individual beneficial ownership percentages for Class B Common Stock are: Olivia B. Holding (17.78%), Frank B. Holding Jr. (16.08%), Claire H. Bristow (11.09%), Carson H. Brice (10.80%), Lewis R. Holding II (5.98%), and Hope H. Bryant (5.14%).
• The reporting persons also collectively beneficially own approximately 24.03% of the Issuer's Class A Common Stock and 0.80% of Series A Depositary Shares.
• Shares were acquired through gifts, personal funds, estate distributions, and exchanges of Class A for Class B Common Stock.
• The shares are held for investment purposes.

Sentiment

Score: 5

Explanation: The filing is neutral, primarily reporting a compliance update regarding changes in beneficial ownership among family members. While one insider's stake decreased by over 1%, the overall family ownership remains substantial, indicating no significant positive or negative sentiment shift for the company's prospects.

Positives

• The Holding family, through various members and related entities, maintains a significant aggregate beneficial ownership of approximately 66.87% of Class B Common Stock, indicating strong insider alignment.
• Frank B. Holding, Jr. and Hope H. Bryant, along with Claire H. Bristow's spouse, are executive officers and directors, ensuring family representation in management and policy-making.

Negatives

• Hope H. Bryant's beneficial ownership of Class B Common Stock decreased by more than 1%, which could be interpreted as a slight reduction in a key insider's direct stake.

Risks

• No specific risks are detailed in this Schedule 13D amendment beyond the inherent risks associated with changes in beneficial ownership.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction, focusing solely on changes in beneficial ownership.

Industry Context

This Schedule 13D amendment primarily concerns changes in insider ownership within First Citizens BancShares, a regional banking institution. Such filings are routine for significant shareholders and do not inherently reflect broader industry trends, though consistent insider activity can signal confidence or concerns within the financial sector.

Stakeholder Impact

• Shareholders: The filing indicates a slight redistribution of ownership among key family members, with one member's stake decreasing by over 1%. This could be viewed as a minor shift in control dynamics, though the overall family control remains significant.
• Management/Board: The continued involvement of Frank B. Holding, Jr. and Hope H. Bryant as executive officers and directors, along with Peter M. Bristow, ensures family influence in strategic decisions.

Key Dates

Recommendation

This Schedule 13D amendment primarily details routine changes in beneficial ownership among the controlling family members of First Citizens BancShares. While Hope H. Bryant's stake decreased by over 1%, the overall family ownership remains substantial at approximately 66.87% of Class B Common Stock. This filing does not introduce new financial data, strategic shifts, or material risks that would warrant a change in investment thesis. The continued strong insider ownership suggests alignment with long-term company interests, supporting a 'hold' recommendation for existing investors.

Keywords

First Citizens BancShares, FCB, Class B Common Stock, Beneficial Ownership, Schedule 13D, Insider Ownership, Holding Family, Shareholding Changes, SEC Filing, Corporate Governance