First Citizens BancShares (FCNCA) M&A presentation summary

Transaction overview

• Agreement to acquire 138 branches from BMO Bank N.A. in the Midwest, Great Plains, and West regions, adding $5.7 billion in deposits and $1.1 billion in loans.

• Acquisition expected to provide $4.6 billion in net liquidity, enhancing funding base and financial flexibility.

• Simultaneous closing and conversion anticipated in mid-2026, pending regulatory approvals.

• Approximately 5% premium to be paid on deposits at closing.

• Branch personnel retention planned to ensure smooth customer transition.

Strategic rationale and market expansion

• Expands presence in 11 states, increasing density in existing markets and entering new, attractive regions.

• Acquisition strengthens nationwide franchise and adds scale in central US markets.

• Builds on a track record of 19 successful bank integrations since 2015.

• Enhances branch strategy and provides additional balance sheet optimization options.

Financial impact and funding profile

• Minimal dilution to tangible book value per share projected.

• CET1 impact estimated at ~27 bps, with no anticipated effect on ongoing share repurchase plan.

• Expected to be immediately accretive to EPS.

• Pro-forma loan-to-deposit ratio targeted to improve at closing.

• Funding mix to benefit from low-cost deposits with a 1.43% weighted average rate.