First Citizens BancShares Inc Receives a Shareholder Proposal from Inspire Investing LLC
March 15, 2024 at 12:00 am EDT
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On March 15, 2024, First Citizens BancShares Inc announced that it has received a shareholder proposal from Inspire Investing LLC requesting that the Board of Directors of the Company conduct an evaluation and issue a report within the next year, at reasonable cost and excluding proprietary information and disclosure of anything that would constitute an admission of pending litigation, evaluating how it oversees risks related to discrimination against individuals based on the race, color, religion (including religious views), sex, national origin, or political views, and whether such discrimination may impact individuals? exercise of their constitutionally protected civil rights. In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on May 1, 2024.
First Citizens BancShares, Inc. is a holding company of First-Citizens Bank & Trust Company. The Company has four segments. General Banking segment delivers products and services to consumers and businesses through its network of branches and various digital channels. Commercial Banking segment provides a range of lending, leasing, capital markets, asset management and other financial and advisory services, primarily to small and middle market companies in a range of industries, including energy, healthcare, tech media and telecom, asset-backed lending, capital finance, maritime, corporate banking, aerospace and defense, and sponsor finance. Silicon Valley Banking segment offers products and services to commercial clients in key innovation markets, such as the healthcare and technology industries, as well as to private equity and venture capital firms. Rail segment offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers.
FIRST CITIZENS BANCSHARES, INC. 
