First Citizens BancShares Inc. has purchased 100,000 of its outstanding class A common shares at $465 per share as trustee of Ella Ann Holding's revocable trust.
The shares were purchased under the share purchase authorization given by the board for the purchase of up to the lesser of 800,000 shares or $282 million of class A common stock. These purchases can be made on the open market or in private transactions over a period of one year.
Ella Ann Holding is the mother of Chairman and CEO Frank Brown Holding Jr. The purchase was made from her pursuant to the company's related person transaction policy.
First Citizens BancShares is the parent of First-Citizens Bank & Trust Co.