We advised the arrangers in connection with the establishment

Davis Polk advised the arrangers in connection with the establishment of the $5 billion global bank note program of First-Citizens Bank & Trust Company (First Citizens Bank), a subsidiary of First Citizens BancShares, Inc. (First Citizens). The program was established in reliance on Section 3(a)(2) of the Securities Act.

First Citizens, a top 20 U.S. financial institution with more than $225 billion in assets and a member of the Fortune 500, is the financial holding company for First Citizens Bank. Headquartered in Raleigh, North Carolina, First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; 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 corporate team included partners Pedro J. Bermeo and Byron B. Rooney, counsel Jennifer (Ying) Lan, associates Megan P. Phansalkar and Sabrina Rodriguez. The financial institutions team included partner Eric McLaughlin and counsel Will Schisa. The tax team included counsel Alon Gurfinkel and associates Kelli A. Rivers and Summer Elbardissy. Members of the Davis Polk team are based in the New York, Washington DC, and London offices.

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