FCNCO

This is a preferred stock or debt security issued by First Citizens BancShares, Inc. that typically offers fixed dividend payments or interest with priority over common stock in the capital structure. Preferred securities generally provide regular income to holders and have a higher claim on assets than common stock in the event of liquidation, though they rank below debt obligations. These securities may have specific terms regarding dividend rates, conversion features, redemption provisions, and voting rights. Investors in bank preferred securities balance the benefits of higher income potential against risks including interest rate sensitivity, call provisions, and regulatory capital treatment.