First Citizens Bancsharesreason 02 of 4a reason to hold, not a barrierderived 2026-09-14accession 0000798941-26-000031
During the second quarter of 2026, we repurchased 298,907 shares of our Class A common stock for $600 million
Total capacity remaining under the current share repurchase program was $1.11 billion as of July 31, 2026
During the six months ended June 30, 2026, we prepaid $5.00 billion of the Purchase Money Note
We expect monthly prepayments to be at least $500 million throughout 2026. In the third quarter of 2026, we expect total prepayments of $6 billion to $8 billion
the finding
Total borrowings declined further from $33.96 billion to $32.19 billion, consistent with ongoing debt reduction relevant to the Purchase Money Note prepayment reason.
The report says this changed. It does not say whether that is good or bad, so neither do we.
before · risk factors · 2026-03-31 → 2026-06-30
“Total borrowings at March 31, 2026 were $33.96 billion, a decrease of $2.05 billion or 6%”
→ after
“Total borrowings at June 30, 2026 were $32.19 billion, a decrease of $3.82 billion or 11%”
the evidence · every sentence checkedfive sentences · whole, uncut
the claims it rests on
“During the second quarter of 2026, we repurchased 298,907 shares of our Class A common stock for $600 million”
“Total capacity remaining under the current share repurchase program was $1.11 billion as of July 31, 2026”
“During the six months ended June 30, 2026, we prepaid $5.00 billion of the Purchase Money Note”
“We expect monthly prepayments to be at least $500 million throughout 2026. In the third quarter of 2026, we expect total prepayments of $6 billion to $8 billion”
what it was checked against
Q3 2026 prepayment expectation
“In the third quarter of 2026, we expect total prepayments of $6 billion to $8 billion, largely driven by expected liquidity from the BMO Branch Acquisition (as defined in Note 2—Business Combinations).”