News Release · April 28, 2021

First Citizens BancShares Declares Dividends

RALEIGH, N.C. – The Board of Directors of First Citizens BancShares Inc. (Nasdaq: FCNCA) declared on April 27, 2021, a quarterly dividend of 47 cents per share on the company's Class A and Class B common stock. The dividend is payable May 28, 2021, to shareholders of record May 14, 2021.

The Board also declared a regular quarterly dividend on the company's 5.375% non-cumulative perpetual preferred stock, Series A, to be paid on June 15, 2021, to holders of record as of May 31, 2021.

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. For more information, visit First Citizens' Web site at firstcitizens.com.

Contact Information:

Barbara Thompson
919-716-2716
Corporate Communications

Deanna Hart
919-716-2137
Investor Relations

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