Updated 02.20.2010


Summary:At First Citizen Bancshares, 30% of Class A shares and 39% of total votes are held by the Chairman of the company.First Citizen Bancshares has scored poorly on all 3 parameters under InvesGuard's model.


One of the directors is a relative of the CEO and chairman of the company and is described as a 'homemaker' in the company's proxy statement. A board committee to oversee a key aspect of First Citizen Bancshares is absent. The Audit Committee charter includes a requirement to review critical financial aspects of the company but some Audit Committee members appear to lack relevant experience to fulfill this responsibility.




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