Tranche Update on First Citizens BancShares, Inc. (NasdaqGS:FCNC.A)'s Equity Buyback Plan announced on July 25, 2024.
January 24, 2025 at 06:34 am EST
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From October 1, 2024 to December 31, 2024, the company has repurchased 461,583 shares, representing 3.26% for $963 million. With this, the company has completed the repurchase of 814,641 shares, representing 5.69% for $1,663 million under the buyback announced on July 25, 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.