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,”…

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