We advised the representatives of the underwriters on the offering

Davis Polk the representatives of the underwriters on an SEC-registered offering of $500 million aggregate principal amount of 4.869% fixed-to-floating-rate senior notes due 2032 by First Citizens BancShares, Inc.

First Citizens BancShares, Inc., a top-20 U.S. financial institution with more than $200 billion in assets, is the financial holding company for First-Citizens Bank & Trust Company. First Citizens offers an array of general banking services including a network of more than 500 branches and offices in 30 states; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank.

The Davis Polk capital markets team included partners Pedro J. Bermeo and Byron B. Rooney and associate Sierra M. Acosta. The financial institutions team included partner Eric McLaughlin, counsel Will Schisa and associate Chris Looney. The tax team included counsel Dustin Plotnick and associate Valentin Van de Walle. Members of the Davis Polk team are based in the New York and Washington DC offices.

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