First Citizens settles dispute with smaller N.C. bank

After months of back-and-forth court filings, First Citizens Bancshares, a $34.4 billion institution based in Raleigh, and KS Bancorp, a $375.6 million asset company in Johnston County, have agreed to a settlement. According to a statement from Smithfield-based KS, as part of the settlement, it has repurchased all KS shares owned by First Citizens (NASDAQ:FCNCA) and its affiliates. In return, First Citizens agreed to drop its lawsuit. “The other terms of the settlement will remain confidential,”…

from Charlotte Business News - Local Charlotte News | Charlotte Business Journal https://www.bizjournals.com/charlotte/news/2018/05/17/first-citizens-settles-dispute-with-smaller-n-c.html?ana=RSS&s=article_search