UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
Quarterly Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
For the period ended September 30, 1996
Commission File Number: 0-16471
First Citizens BancShares, Inc
(Exact name of Registrant as specified in its charter)
Delaware 56-1528994
(State or other jurisdiction of (I.R.S. Employer Identification Number)
incorporation or organization)
239 Fayetteville Street, Raleigh, North Carolina 27601
(Address of principal executive offices) (zip code)
(919) 755-7000
(Registrant's telephone number, including area code)
Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding twelve months (or for such shorter period that the Registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past ninety days.
Yes X No _____
Class A Common Stock--$1 Par Value-- 9,651,900 shares
Class B Common Stock--$1 Par Value-- 1,759,329 shares
(Number of shares outstanding, by class, as of November 13, 1996)
<PAGE>
INDEX
PART I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Consolidated Balance Sheets at
September 30, 1996, December 31, 1995, and September 30, 1995
Consolidated Statements of Income for the nine-month
periods ended September 30, 1996, and September 30, 1995,
Consolidated Statements of Changes in Shareholders' Equity
for the nine-month periods ended September 30, 1996,
and September 30, 1995
Consolidated Statements of Cash Flows for the nine-month
periods ended September 30, 1996, and September 30, 1995
Note to Consolidated Financial Statements
Item 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K.
(a) Exhibits. None.
(b) Reports on Form 8-K. During the quarter ended
September 30, 1996, Registrant filed no Current Reports
on Form 8-K.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
FIRST CITIZENS BANCSHARES, INC.
(Registrant)
Dated: November 13, 1996 By:
Kenneth A. Black
Vice President, Treasurer,
and Chief Financial Officer
First Citizens BancShares, Inc and Subsidiaries
Third Quarter 1996
<PAGE>
These documents are being submitted to include the Financial Data Schedule that
was not originally transmitted along with the September 30-, 1996 Form 10-Q.
January 6, 1997
<PAGE>
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<ARTICLE> 9
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> SEP-30-1996
<CASH> 422,343
<INT-BEARING-DEPOSITS> 0
<FED-FUNDS-SOLD> 203,600
<TRADING-ASSETS> 0
<INVESTMENTS-HELD-FOR-SALE> 1,912,448
<INVESTMENTS-CARRYING> 0
<INVESTMENTS-MARKET> 1,903,608
<LOANS> 4,914,748
<ALLOWANCE> 81,192
<TOTAL-ASSETS> 7,826,118
<DEPOSITS> 6,808,365
<SHORT-TERM> 332,448
<LIABILITIES-OTHER> 85,626
<LONG-TERM> 6,715
0
0
<COMMON> 11,428
<OTHER-SE> 581,536
<TOTAL-LIABILITIES-AND-EQUITY> 7,826,118
<INTEREST-LOAN> 306,779
<INTEREST-INVEST> 84,567
<INTEREST-OTHER> 5,194
<INTEREST-TOTAL> 396,540
<INTEREST-DEPOSIT> 172,712
<INTEREST-EXPENSE> 12,574
<INTEREST-INCOME-NET> 211,254
<LOAN-LOSSES> 5,586
<SECURITIES-GAINS> 0
<EXPENSE-OTHER> 209,645
<INCOME-PRETAX> 71,245
<INCOME-PRE-EXTRAORDINARY> 71,245
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 45,649
<EPS-PRIMARY> 4.03
<EPS-DILUTED> 4.03
<YIELD-ACTUAL> 7.69
<LOANS-NON> 14,213
<LOANS-PAST> 5,601
<LOANS-TROUBLED> 0
<LOANS-PROBLEM> 0
<ALLOWANCE-OPEN> 0
<CHARGE-OFFS> 7,793
<RECOVERIES> 3,517
<ALLOWANCE-CLOSE> 81,192
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<ALLOWANCE-FOREIGN> 0
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