An investigation on behalf of investors of First Citizens Bancorporation, Inc (OTCMKTS:FCBN) in connection with the proposed takeover was announced and OTCMKTS:FCBN stockholders should contact the Shareholders Foundation.

San Diego, CA -- (ReleaseWire) -- 06/18/2014 --An investigation on behalf of investors, who currently hold shares of First Citizens Bancorporation, Inc (OTCMKTS:FCBN) shares, was announced concerning whether the takeover of First Citizens Bancorporation, Inc . by First Citizens BancShares, Inc is unfair to First Citizens Bancorporation stockholders.

Investors who purchased shares of First Citizens Bancorporation, Inc (OTCMKTS:FCBN) and currently hold any of those OTCMKTS:FCBN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of First Citizens Bancorporation breached their fiduciary duties owed to OTCMKTS:FCBN investors in connection with the proposed acquisition.

On June 10, 2014, First Citizens BancShares, Inc. (NASDAQ: FCNCA) and First Citizens Bancorporation announced the signing of a merger agreement. Under the terms of the agreement, at closing each share of First Citizens Bancorporation will convert automatically into the right to receive 4.0 shares of First Citizens BancShares Class A common stock and $50 in cash, unless the holder elects for each share of such holder’s First Citizens Bancorporation common stock to be converted into 3.58 shares of First Citizens BancShares Class A common stock and 0.42 shares of First Citizens BancShares Class B common stock. Based on the closing price of First Citizens BancShares Class A common stock and the last price of First Citizens BancShares Class B common stock on June 9, 2014, and depending on whether the shareholders of First Citizens Bancorporation elect to receive the combination of First Citizens BancShares Class A common stock and cash or the combination of First Citizens BancShares Class A common stock and Class B common stock, the transaction is valued at between $636.9 million and $676.4 million.

Based on a closing price of $234.99 of First Citizens BancShares, Inc shares, First Citizens Bancorporation, Inc investors will receive approximately $1,025.96 per FCBN share.

However, given that following the takeover news FCBN shares rose in the open market to as high as $1029.50 per share, the investigation concerns whether the offer is unfair to FCBN stockholders. More specifically, the investigation concerns whether the First Citizens Bancorporation Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

First Citizens Bancorporation, Inc reported that its Net Income increased from $50.78 million in 2011 to $53.84 million in 2012. Shares of First Citizens Bancorporation, Inc (OTCMKTS:FCBN0 grew from $399.00 per share in December 2011 to as high as $747.00 per share in May 2014.

On June 16 2014, OTCMKTS:FCBN shares closed at $1,044 per share.

Those who are current investors in First Citizens Bancorporation, Inc (OTCMKTS:FCBN) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com