<SEC-DOCUMENT>0001140361-22-000688.txt : 20220105
<SEC-HEADER>0001140361-22-000688.hdr.sgml : 20220105
<ACCEPTANCE-DATETIME>20220105170029
ACCESSION NUMBER:		0001140361-22-000688
CONFORMED SUBMISSION TYPE:	S-8 POS
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20220105
DATE AS OF CHANGE:		20220105
EFFECTIVENESS DATE:		20220105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST CITIZENS BANCSHARES INC /DE/
		CENTRAL INDEX KEY:			0000798941
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				561528994
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-8 POS
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-250131
		FILM NUMBER:		22512032

	BUSINESS ADDRESS:	
		STREET 1:		4300 SIX FORKS ROAD
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27609
		BUSINESS PHONE:		919 716 7000

	MAIL ADDRESS:	
		STREET 1:		4300 SIX FORKS ROAD
		CITY:			RALEIGH
		STATE:			NC
		ZIP:			27609
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8 POS
<SEQUENCE>1
<FILENAME>brhc10032372_s8pos.htm
<DESCRIPTION>S-8 POS
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><a name="Section1"></a>As filed with the Securities and Exchange Commission on January 5, 2022</div>
    <div><br>
    </div>
    <div style="text-align: right; font-family: 'Times New Roman',Times,serif;">Registration No. 333-250131</div>
    <div>
      <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">Washington, D.C.&#160; 20549</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">POST-EFFECTIVE AMENDMENT NO. 1</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;"><font style="font-size: 10pt;">ON FORM S-8</font></div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">TO REGISTRATION STATEMENT</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">ON FORM S-4</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;">FIRST CITIZENS BANCSHARES, INC.</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Exact name of registrant as specified in its charter)</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf17010b14148489dbbc07d84799c8086" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Delaware</div>
          </td>
          <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">56-1528994</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(State or other jurisdiction of incorporation or organization)</div>
          </td>
          <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(I.R.S. Employer Identification No.)</div>
          </td>
        </tr>

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    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="ze450cea4cd6d4db8845530c7c7f8e1c7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">4300 Six Forks Road</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">Raleigh, North Carolina</div>
          </td>
          <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 49%; vertical-align: bottom; text-align: center;">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">27609</div>
          </td>
        </tr>
        <tr>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(Address of Principal Executive Offices)</div>
          </td>
          <td style="width: 2%; vertical-align: top;" colspan="1">&#160;</td>
          <td style="width: 49%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(Zip Code)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CIT GROUP INC. 2016 OMNIBUS INCENTIVE PLAN</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Full title of the plan)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Craig L. Nix</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Chief Financial Officer</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">First Citizens BancShares, Inc.</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">4300 Six Forks Road</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">Raleigh, North Carolina 27609</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(919) 716-7000</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">(Name, address and telephone number, including area code, of agent for service)</div>
    <div><br>
    </div>
    <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-style: italic;">Copies to:</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z7833979f699747d6ae84706c37740c5c" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Matthew G.T. Martin</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Chief Counsel</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">First Citizens BancShares, Inc.</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">4300 Six Forks Road</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Raleigh, North Carolina 27609</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(919) 716-7000</div>
            <div>&#160;</div>
          </td>
          <td style="width: 50%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Gerald F. Roach, Esq.</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Jason L. Martinez, Esq.</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Smith, Anderson, Blount, Dorsett, Mitchell &amp; Jernigan, L.L.P.</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Wells Fargo Capitol Center</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">150 Fayetteville Street, Suite 2300</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Raleigh, North Carolina 27601</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">(919) 821-1220</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth
      company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting company,&#8221; and &#8220;emerging growth company&#8221; in Rule 12b-2 of the Exchange Act.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z0fc0308d12cd4c1c8add8993ddf72751" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 28.21%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Large accelerated filer &#9746;</div>
          </td>
          <td style="width: 41.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30.12%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Accelerated filer &#9633;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.21%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Non-accelerated filer &#9744;</div>
          </td>
          <td style="width: 41.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30.12%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Smaller reporting company &#9744;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 28.21%; vertical-align: bottom;">&#160;</td>
          <td style="width: 41.67%; vertical-align: bottom;">&#160;</td>
          <td style="width: 30.12%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Emerging growth company &#9744;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-family: 'Times New Roman', Times, serif;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
      standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.&#160; &#9744;</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">
      <hr noshade="noshade" align="center" style="background-color: #000000; border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; margin: 0px auto; height: 2px; width: 25%; color: #000000;"></div>
    <div>&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">CALCULATION OF REGISTRATION FEE</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z7e28eca4853c4ac78e6e0c7c5080dbc5" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

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          <td style="width: 24%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Title of Securities</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">To Be Registered</div>
          </td>
          <td style="width: 19.23%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Amount To Be</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Registered</div>
          </td>
          <td style="width: 19.23%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Proposed Maximum</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;"> Offering<br>
            </div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><font style="color: rgb(0, 0, 0);">Price Per Share</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
          </td>
          <td style="width: 19.23%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Proposed Maximum</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><font style="color: rgb(0, 0, 0);">Aggregate Offering </font></div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><font style="color: rgb(0, 0, 0);">Price</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
          </td>
          <td style="width: 19.23%; vertical-align: top;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Amount of</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;"><font style="color: rgb(0, 0, 0);">Registration Fee</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
          </td>
        </tr>
        <tr>
          <td style="width: 24%; vertical-align: middle;">
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Class A Common Stock,</div>
            <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">par value $1.00 per share</div>
          </td>
          <td style="width: 19.23%; vertical-align: middle;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">120,363<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td style="width: 19.23%; vertical-align: middle;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">N/A</div>
          </td>
          <td style="width: 19.23%; vertical-align: middle;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">N/A</div>
          </td>
          <td style="width: 19.23%; vertical-align: middle;">
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif;">N/A</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> Represents the maximum number of shares of Class A common stock, par value $1.00 per share (&#8220;Class A Common Stock&#8221;), of First Citizens BancShares, Inc. (the
      &#8220;Registrant&#8221;), issuable upon vesting of restricted stock units originally granted as restricted stock units awards and performance share unit awards under the CIT Group Inc. 2016 Omnibus Incentive Plan and assumed by the Registrant. See &#8220;Explanatory
      Note&#8221; below. In addition, pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), this Registration Statement also covers such additional shares of Class A Common Stock as may be issued to prevent dilution of the
      shares of Class A Common Stock covered hereby resulting from stock splits, stock dividends or similar transactions.</div>
    <div><br>
    </div>
    <div style="margin-left: 2.65pt; font-family: 'Times New Roman', Times, serif;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup> These shares were registered under the Registrant&#8217;s Registration Statement on Form S-4 (File No. 333-250131) filed under the Securities Act with the
      Securities and Exchange Commission (the &#8220;Commission&#8221;) on November 16, 2020, as amended by Pre-Effective Amendment No. 1 filed on December 21, 2020 (the &#8220;Form S-4&#8221;). All filing fees payable in connection with the issuance of these shares were
      previously paid in connection with the filing of the Form S-4.</div>
    <div><br>
    </div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
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    <!--PROfilePageNumberReset%Num%1%%%-->
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="Section2"></a>Explanatory Note</div>
    <div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 24.5pt; font-family: 'Times New Roman', Times, serif;"><font style="color: #000000;">First Citizens BancShares, Inc. (the &#8220;Registrant&#8221;), hereby amends its Registration Statement on Form S-4 (File No.
          333-250131) filed </font>on November 16, 2020, as amended by Pre-Effective Amendment No. 1 filed on December 21, 2020 (the &#8220;Form S-4&#8221;)<font style="color: #000000;">, by filing this Post-Effective Amendment No. 1 on Form S-8 (the &#8220;Registration
          Statement&#8221;) relating to shares of the Registrant&#8217;s Class A common stock, par value $1.00 per share (the &#8220;Class A Common Stock&#8221;), issuable upon vesting of restricted stock units originally granted as restricted stock units awards and performance
          share unit awards under the CIT Group Inc. 2016 Omnibus Incentive Plan, and assumed by the Registrant pursuant to that certain Agreement and Plan of Merger, dated as of October 15, 2020 (the &#8220;Merger Agreement&#8221;), by and among the Registrant,
          First-Citizens Bank &amp; Trust Company, a North Carolina chartered commercial bank and a direct, wholly-owned subsidiary of Registrant (&#8220;First Citizens Bank&#8221;), FC Merger Subsidiary IX, Inc., a direct, wholly-owned subsidiary of First Citizens
          Bank (&#8220;Merger Sub&#8221;), and CIT Group Inc. (&#8220;CIT&#8221;), the parent company of CIT Bank, N.A., a national banking association (&#8220;CIT Bank&#8221;). All such shares were previously registered on the Form S-4, but will be subject to issuance pursuant to this
          Registration Statement.</font></div>
      <div><br>
      </div>
    </div>
    <div>
      <div style="text-align: justify; text-indent: 36pt; color: #000000; font-family: 'Times New Roman', Times, serif;">Pursuant to the Merger Agreement, effective January 3, 2022 (the &#8220;Effective Time&#8221;), (i) Merger Sub merged with and into CIT (the &#8220;First
        Step Merger&#8221;), with CIT surviving the First Step Merger, and (ii) immediately following the First Step Merger, CIT as the interim surviving corporation merged with and into First Citizens Bank, with First Citizens Bank surviving (the &#8220;Second Step
        Merger&#8221; and collectively with the first step merger, the &#8220;Mergers&#8221;). After consummation of the Mergers, CIT Bank then merged with and into First Citizens Bank with First Citizens Bank surviving. At the Effective Time, each outstanding restricted
        stock unit award or performance share unit award in respect of shares of CIT&#8217;s common stock, par value $0.01 per share (&#8220;CIT Common Stock&#8221;), including any deferred restricted stock unit award (each, a &#8220;Legacy CIT Award&#8221;), other than certain
        restricted stock unit awards held by members of the board of directors of CIT that automatically vested upon the Effective Time, automatically converted into a restricted stock unit in respect of a number of shares of Class A Common Stock&#160; (a
        &#8220;BancShares Award&#8221;) equal to the product (with the result rounded up to the nearest whole share) of (a) the number of shares of CIT Common Stock subject to such Legacy CIT Award immediately prior to the Effective Time based on target level
        performance (to the extent applicable) multiplied by (b) 0.06200. Each BancShares Award will otherwise be subject to the same terms and conditions applicable to the Legacy CIT Award (except, in the case of performance share unit awards, for any
        performance goals or metrics).</div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PART I</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">INFORMATION REQUIRED IN THE 10(a) PROSPECTUS</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The information specified in Item 1 and Item 2 of Part I of the Registration Statement is omitted from this filing in accordance with the provisions of
      Rule 428 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;) and the introductory note to Part I of Form S-8. The documents containing the information specified in Part I will be delivered to the holders as required by Rule 428(b)(1).</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">PART II</div>
    <div><br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-weight: bold;">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zc6a7012efdeb456bb9df0630eb867790" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 3.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif;"><font style="font-weight: bold;">Incorporation of Documents by Reference</font>.</div>
          </td>
        </tr>

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    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The following documents filed with the Commission are hereby incorporated by reference in this Registration Statement:</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z15b36e285f4843bcb2cd11b956f9307b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Times New Roman', Times, serif;">(a)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif;">The Registrant&#8217;s Annual Report on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/798941/000079894121000014/fcnca-20201231.htm">Form 10-K</a> for the fiscal year ended
              December 31, 2020, filed with the Commission on February 24, 2021, <font style="color: #000000;">including the portions of the </font><a href="https://www.sec.gov/Archives/edgar/data/0000798941/000119312521076125/d140162ddef14a.htm">Definitive





                Proxy Statement</a><font style="color: #000000;"> on Schedule 14A, filed with the Commission on </font>March 10, 2021<font style="color: #000000;">, incorporated by reference therein</font>;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z98a8464fe0bb4c30bf8438e786aabbbe" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Times New Roman', Times, serif;">(b)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif;">The Registrant&#8217;s Quarterly Report on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/798941/000079894121000029/fcnca-20210331.htm">Form 10-Q</a> for the quarterly period ended
              March 31, 2021, filed with the Commission on May 4, 2021, the Registrant&#8217;s Quarterly Report on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000036/fcnca-20210630.htm">Form 10-Q</a> for the quarterly period
              ended June 30, 2021, filed with the Commission on August 3, 2021, and the Registrant&#8217;s Quarterly Report on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000046/fcnca-20210930.htm">Form 10-Q</a> for the
              quarterly period ended September 30, 2021, filed with the Commission on November 2, 2021;</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z76a7fa98667447b4b04eda4f27b90930" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Times New Roman', Times, serif;">(c)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif;">The Registrant&#8217;s Current Reports on Form 8-K filed on <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000005/fcnca-20210209.htm">February 9, 2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000010/fcnca-20210222.htm">February 22, 2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000012/fcnca-20210224.htm">February





                24, 2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/798941/000079894121000017/fcnca-20210224.htm">February 25, 2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000026/fcnca-20210430.htm">April 30, 2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000032/fcnca-20210714.htm">July 14,
                2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000039/fcnca-20210930.htm">September 30, 2021</a>, <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/0000798941/000079894121000049/fcnca-20211220.htm">December 20, 2021</a>, and <a href="https://www.sec.gov/Archives/edgar/data/0000798941/000114036122000357/brhc10032347_8k.htm">January
                4, 2022</a>; and</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z0880700022d34bf0bdeafd4d05224325" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt;"><br>
          </td>
          <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Times New Roman', Times, serif;">(d)</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif;">The description of the Class A Common Stock included in the Registrant&#8217;s Current Report on Form 8-K/A filed on July 13, 1990 (filed in paper format), as updated by <a href="https://www.sec.gov/Archives/edgar/data/798941/000079894121000014/fcnca_exhibit49x12312020.htm">Exhibit 4.9</a> to the Registrant&#8217;s Annual Report on Form 10-K for the year ended December 31, 2020, filed on February 24, 2021.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">In addition, all documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934,
      as amended (the &#8220;Exchange Act&#8221;), prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference
      in this Registration Statement and to be a part hereof from the date of filing of such documents. However, any documents or portions thereof, whether specifically listed above or filed in the future, that are not deemed &#8220;filed&#8221; with the Commission,
      including without limitation any information furnished pursuant to Item 2.02 or 7.01 of Form 8-K or certain exhibits furnished pursuant to Item 9.01 of Form 8-K, shall not be deemed to be incorporated by reference in this Registration Statement.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for
      purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein modifies or supersedes such statement. Any
      such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z2eaa736f95ff4aafb1b8ac5ad62fa453" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 4.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Description of Securities.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Not applicable.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z5b376bf92af7415091947f7ee6e53096" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 5.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Interests of Named Experts and Counsel.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The validity of the securities being registered by this Registration Statement will be passed upon for the Registrant by Smith, Anderson, Blount,
      Dorsett, Mitchell &amp; Jernigan, L.L.P., Raleigh, North Carolina.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="zf629b18ec0e84b35b4de901c59a385c1" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 6.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Indemnification of Directors and Officers.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Under Title 8, Section 102 (&#8220;Section 102&#8221;) of the General Corporation Law of the State of Delaware (the &#8220;DGCL&#8221;), a corporation may eliminate the personal
      liability of its directors to the corporation or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where the director breached his or her duty of loyalty, failed to act in good faith, engaged in intentional
      misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law, or obtained an improper personal benefit. The Registrant&#8217;s Restated Certificate of Incorporation, as
      amended (the &#8220;Restated Certificate&#8221;), provides that none of our directors shall be personally liable to us or our stockholders for monetary damages for any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such
      liability, except to the extent that Section 102 prohibits the elimination or limitation of liability of directors for breaches of fiduciary duty.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Under Title 8, Section 145 of the DGCL (&#8220;Section 145&#8221;), a corporation has the power to indemnify any person who was or is a party, or is threatened to be
      made a party, to any threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative (a &#8220;Proceeding&#8221;), other than an action by or in the right of the corporation, by reason of the fact that the
      person is or was a director, officer, employee, or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other
      enterprise, against expenses (including attorneys&#8217; fees), judgments, fines, and amounts paid in settlement actually and reasonably incurred by the person in connection with the Proceeding, provided that the person acted in good faith and in a manner
      the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe that the person&#8217;s conduct was unlawful.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">In the case of threatened, pending, or completed Proceedings by or in the right of the corporation to procure a judgment in the corporation&#8217;s favor, the
      corporation has the power to indemnify a person described above against expenses (including attorneys&#8217; fees) actually and reasonably incurred in connection with the defense or settlement of the Proceeding if the person acted in good faith and in a
      manner the person reasonably believed to be in or not opposed to the best interests of the corporation. However, no indemnification shall be made in respect of any claim, issue, or matter as to which the person is adjudged to be liable to the
      corporation unless and only to the extent that the court in which the Proceeding was brought determines upon application that, despite the adjudication of liability, but in view of all of the circumstances of the case, the person is fairly and
      reasonably entitled to indemnity for expenses which the court deems proper.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">To the extent that a present or former director or officer of a corporation is successful on the merits or otherwise in defense of any Proceeding
      referred to above, or in defense of any claim, issue, or matter therein, he or she shall be indemnified against expenses (including attorneys&#8217; fees) actually and reasonably incurred in connection therewith.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">2</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The indemnification and advancement of expenses provided by, or granted pursuant to, Section 145, unless otherwise provided when authorized or ratified,
      will continue as to a person who has ceased to be a director, officer, employee, or agent and will inure to the benefit of the person&#8217;s heirs, executors, and administrators.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Unless ordered by a court, any indemnification under Section 145 shall be made by the corporation only as authorized in the specific case upon a
      determination that indemnification of the present or former director, officer, employee, or agent is proper in the circumstances because the person has met the applicable standard of conduct. That determination shall be made, with respect to a person
      who is a director or officer of the corporation, at the time of such determination: (1) by a majority vote of the directors who are not parties to the Proceeding, even though less than a quorum; (2) by a committee of such directors designated by
      majority vote of such directors, even though less than a quorum; (3) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion; or (4) by the corporation&#8217;s stockholders.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Expenses (including attorneys&#8217; fees) incurred by an officer or director in defending any Proceeding may be paid by the corporation in advance of the
      final disposition of the Proceeding upon receipt of an undertaking by or on behalf of the director or officer to repay such amount if it ultimately is determined that he or she is not entitled to be indemnified. Expenses (including attorneys&#8217; fees)
      incurred by former directors and officers or other employees, and agents, or by persons serving at the request of the corporation as directors, officers, employees, or agents of another corporation, partnership, joint venture, trust, or other
      enterprise, may be paid upon terms and conditions, if any, as the corporation deems appropriate.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Indemnification and advancement of expenses provided by or granted under Section 145 are not exclusive of any other rights to which those seeking
      indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in a person&#8217;s official capacity and as to action in another capacity while holding
      such office.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">References in Section 145 to &#8220;the corporation&#8221; include, in addition to the resulting corporation, any constituent corporation absorbed in a consolidation
      or merger which, if its separate existence had continued, would have had power and authority to indemnify its directors, officers, employees and agents. As a result, any person who is or was a director, officer, employee, or agent of such a
      constituent corporation, or is or was serving at the request of the constituent corporation as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, will stand in the same position
      under Section 145 with respect to the resulting or surviving corporation as that person would have with respect to the constituent corporation if its separate existence had continued.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Restated Certificate provides that the Registrant shall, to the full extent permitted by Section 145, indemnify all persons whom it may indemnify
      pursuant thereto. The Registrant&#8217;s Amended and Restated Bylaws (the &#8220;Bylaws&#8221;) provide that the Registrant shall indemnify and hold harmless, to the fullest extent permitted by applicable law, any person who was or is made or is threatened to be made
      a party or is otherwise involved in any Proceeding by reason of the fact that he or she, or a person for whom he or she is the legal representative, is or was a director, officer, or employee of the Registrant or, while a director, officer, or
      employee of the Registrant, is or was serving at the request of the Registrant as a director, officer, employee, or agent of another corporation or of a partnership, joint venture, trust, enterprise, or nonprofit entity, including service with
      respect to employee benefit plans, against all liability and loss suffered and expenses (including attorneys&#8217; fees, judgments, fines, taxes, including ERISA excise taxes, or penalties, and amounts paid in settlement) reasonably incurred by such
      person. Such indemnification will continue as to any such person who has ceased to be a director, officer, employee, or agent and inure to the benefit of his or her heirs, executors, and administrators.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Bylaws provide that the Registrant shall, to the fullest extent not prohibited by applicable law, pay the expenses (including attorneys&#8217; fees)
      incurred by any of the foregoing persons in defending any Proceeding in advance of its final disposition, provided, however, that, to the extent required by law, any such advance payment of expenses shall be made only upon receipt of an undertaking
      by the person to repay all amounts advanced if it ultimately is determined that he or she is not entitled to be indemnified.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Bylaws do not limit the right of the Registrant, to the extent and in the manner permitted by law, to indemnify and advance expenses to other persons
      when and as authorized by appropriate corporate action. Further, the rights conferred on any person under the Bylaws are not exclusive of any other rights the person may have or acquire under any statute, provision of the Restated Certificate or
      Bylaws, agreement, vote of stockholders or disinterested directors, or otherwise.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">The Registrant&#8217;s obligation, if any, to indemnify or to advance expenses to any person who was or is serving at the Registrant&#8217;s request as a director,
      officer, employee, or agent of another corporation, partnership, joint venture, trust, enterprise, or nonprofit entity shall be reduced by any amount the person may collect as indemnification or advancement of expenses from such other corporation,
      partnership, joint venture, trust, enterprise, or non-profit enterprise.</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">3</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Under Section 145, a person&#8217;s right to indemnification or to advancement of expenses arising under a provision of the Restated Certificate or Bylaws
      shall not be eliminated or impaired by an amendment to the Restated Certificate or the Bylaws after the occurrence of the act or omission that is the subject of the Proceeding for which indemnification or advancement of expenses is sought, unless the
      provision in effect at the time of the act or omission explicitly authorizes such elimination or impairment after the action or omission has occurred.</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">A corporation has the power to purchase and maintain insurance on behalf of any person who is or was its director, officer, employee, or agent, or is or
      was serving at its request as a director, officer, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise, against any liability asserted against and incurred by the person in any such capacity, or arising
      out of the person&#8217;s status as such, whether or not the corporation would have the power to indemnify the person against such liability under Section 145. The Registrant has purchased a policy of liability insurance that covers its directors and
      officers up to the limits prescribed therein.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z510436bb002043f9981432fe5f696e0b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 7.</td>
          <td style="width: auto; vertical-align: top; text-align: justify;">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Exemption from Registration Claimed.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Not applicable.</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z6d593c2fe89a48518ea41293ab1e39c2" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 8.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Exhibits.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" id="z6aa57354379940a0a2155c788f0aa93b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Exhibit No.</u></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Description</u></div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/798941/000079894115000009/fcnca_exhibit31x12312014.htm">4.1</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Certificate of Incorporation of the Registrant, as amended (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Form 10-K for the year
              ended December 31, 2014)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/798941/000079894115000022/ex31_amendedbylawsx07282015.htm">4.2</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Bylaws of the Registrant, as amended (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Form 8-K dated July 28, 2015)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="brhc10032372_ex5-1.htm">5.1</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Opinion of Smith, Anderson, Blount, Dorsett, Mitchell &amp; Jernigan, L.L.P.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="brhc10032372_ex23-1.htm">23.1</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Consent of Dixon Hughes Goodman LLP</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="brhc10032372_ex5-1.htm">23.2</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Consent of Smith, Anderson, Blount, Dorsett, Mitchell &amp; Jernigan, L.L.P. (Contained in Exhibit 5.1)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/0000798941/000114036120028928/nt10016461x2_s4a.htm">24.1*</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Power of Attorney (included on the signature pages to the Registrant&#8217;s Registration Statement on Form S-4 (File No. 333-250131) filed on November 16, 2020, to which
              this is Post-Effective Amendment No. 1 on Form S-8)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="#POA">24.2</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Power of Attorney for <font style="color: #000000;">Ellen R. Alemany, Michael A. Carpenter, and John R. Ryan</font> (included on the signature page of this
              Post-Effective Amendment No. 1 on Form S-8 and incorporated herein by reference)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 12%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;"><a href="https://www.sec.gov/Archives/edgar/data/0001171825/000156459018026527/cit-ex101_167.htm">99.1</a></div>
          </td>
          <td style="width: 88%; vertical-align: top;">
            <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">CIT Group Inc. 2016 Omnibus Incentive Plan <font style="color: #000000;">(incorporated by reference to Exhibit 10.1 to CIT Group, Inc.&#8217;s Form 10-Q for the quarter
                ended September 30, 2018)</font></div>
          </td>
        </tr>

    </table>
    <div style="font-family: 'Times New Roman', Times, serif;"> <br>
    </div>
    <div style="font-family: 'Times New Roman', Times, serif;">* previously filed</div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z4a387024133f4e29961378e19dc9ac3e" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 36pt; vertical-align: top; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Item 9.</td>
          <td style="width: auto; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Undertakings.</div>
          </td>
        </tr>

    </table>
    <div>&#160;</div>
    <div style="text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">The undersigned Registrant hereby undertakes:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(1)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">To file, during any period in which offers or sales are
        being made, a post-effective amendment to this Registration Statement:</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif;">To include any prospectus required by Section 10(a)(3) of
        the Securities Act;</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(ii)</font>&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">To reflect in the prospectus any facts or events arising
        after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement.&#160;
        Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
        offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth
        in the &#8220;Calculation of Registration Fee&#8221; table in the effective Registration Statement;</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt;"><font style="font-family: 'Times New Roman', Times, serif;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">To include any material information with respect to the
        plan of distribution not previously disclosed in the Registration Statement or any material change to such information in the Registration Statement;</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 72pt; font-family: 'Times New Roman', Times, serif;"><font style="font-style: italic;">Provided, however,</font> that paragraphs (a)(1)(i) and (a)(1)(ii) above do not apply if the information required to be
      included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the
      Registration Statement.</div>
    <div>&#160;</div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">4</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(2)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">That, for the purpose of determining any liability under the
        Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
        thereof.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt;"><font style="font-family: 'Times New Roman', Times, serif;">(3)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">To remove from registration by means of a post-effective
        amendment any of the securities being registered which remain unsold at the termination of the offering.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">The undersigned Registrant hereby undertakes that, for purposes of determining
        any liability under the Securities Act, each filing of the Registrant&#8217;s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act that is incorporated by reference in the Registration Statement shall be deemed to be a new
        registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</font></div>
    <div>&#160;</div>
    <div style="text-align: justify;"><font style="font-family: 'Times New Roman', Times, serif;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160; <font style="font-family: 'Times New Roman', Times, serif;">Insofar as indemnification for liabilities arising under the Securities Act may
        be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Commission such indemnification is against public policy as
        expressed in the Securities Act and is, therefore, unenforceable.&#160; In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
        person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its
        counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the
        final adjudication of such issue.</font></div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">5</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURES<a name="SIGNATURES"><!--Anchor--></a></div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets
      all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Raleigh, State of North Carolina, on this 5<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> day of
      January, 2022.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="z3845c2941b0e4444945c6f5d58bd3888" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="vertical-align: top;" colspan="2">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FIRST CITIZENS BANCSHARES, INC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">By:</div>
          </td>
          <td style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', Times, serif; font-size: 12pt;">/s/<font style="font-size: 10pt; color: #000000;"> Frank B. Holding, Jr.</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Frank B. Holding, Jr.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 45%; vertical-align: bottom;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Chairman and Chief Executive Officer</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">6</font></div>
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><a name="Section3"></a><a name="POA"><!--Anchor--></a>POWER OF ATTORNEY</div>
    <div><br>
    </div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">BE IT KNOWN BY THESE PRESENT: Each of <font style="color: #000000;">Ellen R. Alemany, Michael A. Carpenter, and John R. Ryan, whose signature appears
        below,</font> constitutes and appoints Frank B. Holding, Jr. and Craig L. Nix, for herself or himself and not for one another, and each and either of them and his substitutes, a true and lawful attorney in her or his name, place and stead, in any
      and all capacities, to sign her or his name to any and all amendments to this Registration Statement, including post-effective amendments, and to cause the same to be filed with the Commission, granting unto said attorneys and each of them full power
      of substitution and full power and authority to do and perform any act and thing necessary and proper to be done in the premises, as fully to all intents and purposes as the undersigned could do if personally present, and each of the foregoing for
      herself or himself hereby ratifies and confirms all that said attorneys or any one of them shall lawfully do or cause to be done by virtue hereof.</div>
    <div>&#160;</div>
    <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif;">Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons in the capacities
      indicated on January 5, 2022.</div>
    <div>&#160;</div>
    <table cellspacing="0" cellpadding="0" border="0" id="zcfb70b377c3443fab1293a61ccee500a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Name</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Title</div>
          </td>
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          <td style="width: 16.69%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Date</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">/s/<font style="font-size: 10pt; color: #000000;"> Frank B. Holding, Jr.</font></div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Chairman and Chief Executive Officer, Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Frank B. Holding, Jr.</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">(Principal executive officer)</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">/s/ Craig L. Nix</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="color: #000000; font-family: 'Times New Roman', Times, serif;">Chief Financial Officer</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Craig L. Nix</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">(Principal financial officer and Principal accounting officer)</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">/s/ Ellen R. Alemany</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Ellen R. Alemany</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
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          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">John M. Alexander, Jr.</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Victor E. Bell, III</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Peter M. Bristow</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Hope H. Bryant</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">/s/ Michael A. Carpenter</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Michael A. Carpenter</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
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          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">H. Lee Durham, Jr.</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
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          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: top;">
            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
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        </tr>
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          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Daniel L. Heavner</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Robert R. Hoppe</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
          </td>
        </tr>
        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Floyd L. Keels</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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        <tr>
          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">*</div>
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          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
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          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Robert E. Mason, IV</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">*</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="font-family: 'Times New Roman', Times, serif;">Director</div>
          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
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        <tr>
          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">Robert T. Newcomb</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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          <td style="width: 25%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">/s/ John R. Ryan</div>
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          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom; padding-bottom: 2px;">
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          </td>
          <td style="width: 1.28%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom; padding-bottom: 2px;">
            <div style="text-align: center; font-family: 'Times New Roman', Times, serif;">January 5, 2022</div>
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          <td style="width: 25%; vertical-align: bottom;">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', Times, serif;">John R. Ryan</div>
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          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 56.5%; vertical-align: bottom;">&#160;</td>
          <td style="width: 1.28%; vertical-align: bottom;">&#160;</td>
          <td style="width: 16.69%; vertical-align: bottom;">&#160;</td>
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              <div>/s/ Craig L. Nix</div>
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      <div style="text-align: center;" id="DSPFPageNumberArea"><font style="font-size: 8pt; font-weight: normal; font-style: normal;" id="DSPFPageNumber">7</font></div>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>brhc10032372_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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    <div>
      <div style="text-align: right; font-weight: bold;"><a name="s9d500ef540144e1cafbc3c71fb89db1c"></a>Exhibit 5.1</div>
      <div style="text-align: right; font-weight: bold;"> <br>
      </div>
      <div style="text-align: center; font-weight: bold;">SMITH, ANDERSON, BLOUNT, DORSETT,</div>
      <div style="text-align: center; font-weight: bold;">MITCHELL &amp; JERNIGAN, L.L.P.</div>
      <div><br>
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          <tr>
            <td style="width: 33%; vertical-align: top;">
              <div>&#160;</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">OFFICES</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Wells Fargo Capitol Center</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">150 Fayetteville Street, Suite 2300</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Raleigh, North Carolina 27601</div>
            </td>
            <td style="width: 34%; vertical-align: top;">
              <div>&#160;</div>
              <div>&#160;</div>
              <div>&#160;</div>
              <div style="text-align: center; color: rgb(0, 0, 0);">January 5, 2022</div>
            </td>
            <td style="width: 33%; vertical-align: top;">
              <div>&#160;</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">MAILING ADDRESS</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">P.O. Box 2611</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">Raleigh, North Carolina</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">27602-2611</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom;">&#160;</td>
            <td style="width: 34%; vertical-align: bottom;">&#160;</td>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">TELEPHONE: (919) 821-1220</div>
              <div style="text-align: center; color: rgb(0, 0, 0); font-weight: bold;">FACSIMILE: (919) 821-6800</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>First Citizens BancShares, Inc.</div>
      <div>4300 Six Forks Road</div>
      <div>Raleigh, North Carolina 27609</div>
      <div><br>
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          <tr>
            <td style="width: 36pt;"><br>
            </td>
            <td style="width: 36pt; vertical-align: top; color: rgb(0, 0, 0);">Re:</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: rgb(0, 0, 0);">First Citizens BancShares, Inc. Post-Effective Amendment No. 1 on Form S-8 to the Registration Statement on Form S-4 (File No. 333-250131)</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>Ladies and Gentlemen:</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">We have acted as counsel to First Citizens BancShares, Inc., a Delaware corporation (the &#8220;<u>Company</u>&#8221;), in connection with the filing on the date hereof by the Company with the U.S. Securities and Exchange
        Commission (the &#8220;<u>Commission</u>&#8221;) under the Securities Act of 1933, as amended (the &#8220;<u>Act</u>&#8221;), of the Post-Effective Amendment No. 1 on Form S-8 (the &#8220;<u>Amendment</u>&#8221;) to the Registration Statement on Form S-4 (File No. 333-250131)
        initially filed by the Company with the Commission on November 16, 2020 (the &#8220;<u>Initial Registration Statement</u>&#8221;), as amended by Pre-Effective Amendment No. 1 filed by the Company with the Commission on December 21, 2020 (&#8220;<u>Amendment No. 1</u>&#8221;
        and, together with the Initial Registration Statement, the &#8220;<u>Amended Registration Statement</u>&#8221; and, together with the Amendment, the &#8220;<u>Registration Statement</u>&#8221;), which Amended Registration Statement was declared effective by the Commission
        at 4:00 p.m. on December 23, 2020. The Amendment relates to 120,363 shares (the &#8220;<u>Shares</u>&#8221;) of the Company&#8217;s Class A common stock, par value $1.00 per share (the &#8220;<u>Class A Common Stock</u>&#8221;), that were registered on the Amended Registration
        Statement and that are to be issuable under restricted stock awards and performance stock awards granted under the CIT Group Inc. 2016 Omnibus Incentive Plan (the &#8220;<u>Legacy CIT Plan</u>&#8221;), as assumed by the Company in connection with the
        completion of the transactions contemplated by that certain Agreement and Plan of Merger, dated as of October 15, 2020 (the &#8220;<u>Merger Agreement</u>&#8221;), by and among the Company, First-Citizens Bank &amp; Trust Company, a North Carolina chartered
        commercial bank and a direct, wholly-owned subsidiary of the Company, FC Merger Subsidiary IX, Inc., a Delaware corporation and a direct, wholly-owned subsidiary of First-Citizens Bank &amp; Trust Company, and CIT Group Inc., a Delaware
        corporation.</div>
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        <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">First Citizens BancShares, Inc.</div>
        <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">January 5, 2022</div>
        <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">Page 2</div>
      </div>
      <div style="text-indent: 36pt;"> <br>
      </div>
      <div style="text-indent: 36pt;">This opinion letter is being furnished in accordance with the requirements of Item 8 of Form S-8 and Item 601(b)(5)(i) of Regulation S-K under the Act.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">We have reviewed the Amended Registration Statement, the Amendment, the Merger Agreement, the Legacy CIT Plan, the Restated Certificate of Incorporation of the Company, as amended, the Amended and Restated Bylaws of
        the Company, certified copies of resolutions of the Board of Directors of the Company relating to the approval of the Merger Agreement and the transactions contemplated thereby, including the issuance of the Shares, the filing of the Amended
        Registration Statement and the Amendment and related matters, the minutes of the Special Meeting of Stockholders of the Company held on February 9, 2021, and such other documents and considered such matters of law and fact as we, in our
        professional judgment, have deemed appropriate to render the opinion contained herein. We call your attention to the fact that as a matter of customary practice, certain assumptions underlying opinions are understood to be implicit. With respect to
        certain facts, we have considered it appropriate to rely upon certificates or other comparable documents of public officials and officers or other appropriate representatives of the Company, without investigation or analysis of any underlying data
        contained therein.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">Based upon and subject to the foregoing and the further assumptions, limitations, and qualifications hereinafter expressed, it is our opinion that the Shares have been duly authorized, and when issued and delivered in
        accordance with the Legacy CIT Plan and the Merger Agreement as described in the Registration Statement and upon either (a) the countersigning of the certificates representing the Shares by a duly authorized signatory of the registrar for the Class
        A Common Stock, or (b) the book entry of the Shares by the transfer agent for the Class A Common Stock, will be validly issued, fully paid, and nonassessable.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">We express no opinion as to any matter other than as expressly set forth above, and no opinion, other than the opinions given herein, may be inferred or implied herefrom. The opinion set forth herein is limited to
        matters governed by the Delaware General Corporation Law, and no opinion is expressed herein as to the laws of any other jurisdiction. The opinion expressed herein does not extend to compliance with federal and state securities laws relating to the
        offer or sale of the Shares, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement, other than as to the validity of the Shares.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">We hereby consent to the filing of this opinion letter as an exhibit to the Registration Statement and to all references to us in the Registration Statement and any amendment thereto. Such consent shall not be deemed
        to be an admission that our firm is within the category of persons whose consent is required under Section 7 of the Act or the regulations promulgated pursuant to the Act.</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">Our opinion expressed herein is as of the date hereof, and we undertake no obligation to advise you of any changes in applicable law or any other matters that may come to our attention after the date hereof that may
        affect our opinion expressed herein.</div>
      <div> <br>
      </div>
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              <div>Sincerely yours,</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 45.3%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div>SMITH, ANDERSON, BLOUNT, DORSETT,</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 45.3%; vertical-align: top;">
              <div>MITCHELL &amp; JERNIGAN, L.L.P.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 45.3%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="vertical-align: top;" colspan="2">
              <div>/s/ Smith, Anderson, Blount, Dorsett,</div>
            </td>
          </tr>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
            <td style="width: 5%; vertical-align: top;">&#160;</td>
            <td style="width: 45.3%; vertical-align: top;">
              <div>Mitchell &amp; Jernigan, L.L.P.</div>
            </td>
          </tr>

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<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>brhc10032372_ex23-1.htm
<DESCRIPTION>EXHIBIT 23.1
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        <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-weight: bold;">Exhibit 23.1</div>
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      <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>
      <div style="text-align: justify;"><a name="z_Hlk26373545"></a><br>
      </div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated February 24, 2021, with respect to the consolidated financial
        statements of First Citizens Bancshares, Inc. and subsidiaries (the Company) as of December 31, 2020 and 2019, and for each of the years in the three-year period ended December 31, 2020 and the effectiveness of internal control over financial
        reporting as of December 31, 2020, included in the Company&#8217;s December 31, 2020 Annual Report on Form 10-K, filed with the Securities and Exchange Commission.</div>
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      <div style="font-family: 'Times New Roman', Times, serif;">/s/ Dixon Hughes Goodman LLP</div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">Raleigh, North Carolina</div>
      <div style="text-align: justify; font-family: 'Times New Roman', Times, serif;">January 4, 2022</div>
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