First Citizens BancShares

First Citizens BancShares, Inc. is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks. The Commercial Banking provides lending, leasing and other financial and advisory services to small and middle market companies. The Rail segment deals with the provision of equipment leasing and secured financing for railroads and shippers. The Corporate segment is comprised of investment securities and interest bearing cash. The company was founded on August 7, 1986 and is headquartered in Raleigh, NC.

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First Citizens BancShares reports strong 2022 performance and outlines 2023 priorities

First Citizens BancShares showcased strong financial performance in 2022 with notable achievements in loan growth and expense control.
The company's strategic focus for 2023 includes core business investments, talent acquisition, and effective risk management.
While facing challenges like seasonal loan declines and non-performing loans, opportunities lie in stable margins and deposit growth strategies.
Overall, the company aims for continued growth and efficiency while navigating market dynamics and maintaining strong credit quality.

First Citizens BancShares reports strong Q1 performance post SVB acquisition

First Citizens BancShares showcased robust financial performance driven by the SVB acquisition and strategic initiatives.
Challenges include evolving market dynamics and managing expenses and criticized loans in certain portfolios.
Opportunities lie in leveraging the SVB acquisition for growth, optimizing cost structures, and adapting to regulatory changes.
Overall, the company is well-positioned to navigate challenges and capitalize on growth prospects in the financial landscape.

First Citizens BancShares excels in Q2 with SVB acquisition

First Citizens BancShares (FCNCA) demonstrated robust financial performance and strategic progress in the second quarter, driven by the SVB acquisition.
While facing challenges such as declining accretable yield and noninterest revenue, the company remains focused on capital management and long-term value creation.
Opportunities lie in potential share buybacks, optimizing deposit mix, and enhancing risk management practices to drive future growth and profitability.

First Citizens BancShares reports robust Q3 earnings amidst strategic acquisitions

First Citizens BancShares (FCNCA) delivered strong financial performance in Q3 2023, driven by earnings growth, deposit expansion, and strategic acquisitions.
While facing challenges such as elevated charge-offs and market-related declines, the company remains focused on regulatory readiness and innovation-driven growth opportunities.
With a prudent risk management approach, strategic acquisitions, and a focus on optimizing the credit portfolio, First Citizens BancShares is poised for continued growth and resilience in the evolving financial landscape.

First Citizens BancShares reports strong 2023 performance and outlines 2024 priorities

First Citizens BancShares had a successful 2023 with strong financial results and a focus on strategic priorities for 2024. The company maintains a strong capital position and is progressing on SVB integration.
Challenges include market shifts in office innovation and equipment finance, as well as potential headwinds from debt issuance costs. Opportunities exist in managing asset sensitivity, tightening underwriting, and driving growth in innovative portfolios.
Overall, the outlook for 2024 includes expectations for growth in loans and deposits, expense management, and maintaining credit quality. The company's proactive approach to capital management and focus on client service position it for continued success.

First Citizens BancShares reports robust Q1 earnings and growth outlook

First Citizens BancShares (FCNCA) delivered strong Q1 results, focusing on stability, compliance, and growth opportunities. Despite challenges in VC fundraising and market conditions, the company remains optimistic about its performance and strategic initiatives.

First Citizens BancShares reports robust Q3 earnings amidst growth opportunities

First Citizens BancShares demonstrated solid financial performance with a focus on maintaining strong capital and liquidity positions.
While facing challenges such as loan reductions and slight capital ratio decreases, the company remains optimistic about future growth opportunities.
Analysts' inquiries and management discussions highlighted a proactive approach to addressing challenges and leveraging opportunities for sustained success.

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First Citizens is still in the early days of stabilizing and integrating the former Silicon Valley Bank, and investors will likely be closely watching the SVB deposit numbers in Q3'23. SVB provides a virtually unique growth opportunity for First Citizens; not only was it a leader in banking to emerging tech-driven companies, but it also complements the deposit-hungry CIT operations. It's too soon to say whether the VCs, equity funds, and client companies who pulled their deposits and drove the collapse of SVB will come back to the bank.

It's Early, But The SVB Deal Still Looks Like A Winner For First Citizens BancShares

Analysts at Wedbush Securities initiated coverage of First Citizens with an Outperform rating and $1,700 price target. This follows a bullish initiation from J.P.

First Citizens Stock Gets a New Bull as Banks Face Headwinds

RALEIGH, N.C. , Oct. 4, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the third quarter ended Sept.

First Citizens BancShares, Inc. Announces Date of 2023 Third Quarter Earnings Call

Investment pace remains stable as valuations reset SAN FRANCISCO , Oct. 4, 2023 /PRNewswire/ -- Despite ongoing public market headwinds, the healthtech sector is showing signs of resilience, according to the Future of Healthtech 2023 report from Silicon Valley Bank (SVB), a division of First Citizens Bank. In the first half of 2023, the sector saw the first positive public performance trends in over a year with stock trading up the first two quarters.

Healthtech Investments Stabilizing; Silicon Valley Bank Releases Future of Healthtech 2023 Report

First Citizens (FCNCA) possesses solid growth attributes, which could help it handily outperform the market.

Is First Citizens (FCNCA) a Solid Growth Stock? 3 Reasons to Think "Yes"

RALEIGH, N.C. , Oct. 2, 2023 /PRNewswire/ -- First Citizens Bank today announced that it is extending its brand to cover numerous commercial business verticals that previously fell under First Citizens' CIT division.

First Citizens Bank Extends Its Brand to Legacy CIT Business Verticals

First Citizens BancShares won the bidding war for Silicon Valley Bank, acquiring its assets at a significant discount. The acquisition has strengthened First Citizens BancShares' deposit base and positioned it for future growth opportunities. The company has seen good loan growth and improved efficiency, making it an appealing investment with potential for further share price appreciation.

First Citizens Bancshares: SVB Addition A Major Tailwind For Years To Come

LOS ANGELES , Sept. 13, 2023 /PRNewswire/ -- First Citizens Wealth today launched a new wealth advisory business with a team of advisors across Southern California to better serve individuals, families, and institutions in growing, managing, and preserving their wealth.

First Citizens Wealth Launches New Wealth Advisory Team to Serve Individuals and Institutions in Southern California

'Yes, SVB' campaign highlights company's continued service, dedication, tailored solutions and commitment to the innovation economy SAN FRANCISCO , Sept. 12, 2023 /PRNewswire/ -- Fully committed to supporting its clients and the innovation economy,   Silicon Valley Bank , a division of First Citizens Bank, today launched a new nationwide advertising campaign.

Silicon Valley Bank Launches New Marketing Campaign

79% of small business owners surveyed anticipate growth RALEIGH, N.C., Sept. 11, 2023 /PRNewswire/ -- Nearly eight out of 10 small business owners feel a strong degree of confidence that their companies will grow over the next year even amid rocky market conditions, according to a new survey.

First Citizens Bank's Annual Forecast Finds Small Businesses Confident, Undeterred By Economic Outlook

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Eighteen regional banks may add about $63 billion of holding company debt to meet proposed regulatory guidelines for lending institutions of $100 billion to $250 billion of assets, in the latest challenge to the sector, according to a Bloomberg report.

Regional banks may saddle themselves with $63B in fresh debt to meet regulatory requirements: report

NEW YORK , Sept. 7, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $55 million revolving credit facility to National CineMedia LLC to support their emergence from Chapter 11 bankruptcy.

CIT Northbridge Provides $55 Million in Exit Financing to National CineMedia LLC

Michael Wilson to lead both First Citizens Wealth and SVB Private Leadership team reflects strengths and talents from across the organization RALEIGH, N.C. , Sept. 6, 2023 /PRNewswire/ -- First Citizens Bank today announced a new leadership structure for its wealth organization that will improve coordination and enhance its commitment to supporting individuals, families and institutions with outstanding financial solutions and guidance.

First Citizens Bank Announces Leadership Structure for Wealth Organization

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NEW YORK , Aug. 29, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Capital Equipment Finance group, part of the CIT division, served as lead arranger on $200 million in financing for New Fortress Energy Inc. Headquartered in New York, New Fortress Energy is a global energy infrastructure company founded to help address energy poverty and accelerate the world's transition to reliable, affordable and clean energy. The loan supports New Fortress Energy's grid stabilization project in Puerto Rico.

First Citizens Bank Serves as Lead Arranger on $200 Million Financing for New Fortress Energy

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RALEIGH, N.C. , Aug. 23, 2023 /PRNewswire/ -- First Citizens Bank today announced that it served as syndication agent, joint lead arranger and joint bookrunner on a $400 million senior credit facility for Alex Lee Inc. The five-year revolving credit facility refinanced existing debt and increased the facility size to support the company's continued business growth.

First Citizens Bank Serves as Syndication Agent, Joint Lead Arranger and Joint Bookrunner on $400 Million Financing for Alex Lee Inc.

New leadership continues SVB's commitment to best-in-class product solutions SANTA CLARA, Calif. , Aug. 22, 2023 /PRNewswire/ --  Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced Martin Murrell has been named Head of Global Payments and Milton Santiago was named Head of Global Digital Solutions.

Silicon Valley Bank Appoints Head of Global Payments and Head of Global Digital Solutions

LOS ANGELES , Aug. 21, 2023 /PRNewswire/ -- First Citizens Bank today announced that its CIT Commercial Services subsidiary has completed a $6.5 million credit facility with a California-based home furnishings and apparel importer. Under the agreement, CIT Commercial Services will also take the lead in managing a significant share of the company's accounts receivable from a variety of retailers, enabling the client to better manage its cash flow and protect its assets and operations.

First Citizens Bank Completes $6.5 Million Credit Facility

NEW YORK , Aug. 15, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business, part of the CIT division, provided a loan to refinance American House St Petersburg, a senior living community located in St. Petersburg, Florida. The financing was provided to a joint venture between American House, Harrison Street, and Prevarian Senior Living, who opened this community in 2021.

First Citizens Bank Provides Loan to Refinance Florida Senior Living Community

First Citizens BancShares (FCNCA) came out with quarterly earnings of $52.60 per share, beating the Zacks Consensus Estimate of $45.91 per share. This compares to earnings of $16.86 per share a year ago.

First Citizens BancShares (FCNCA) Surpasses Q2 Earnings and Revenue Estimates

SVB Financial Group

First Citizens BancShares Inc. stock was up 2.4% on Thursday after the Raleigh, N.C.-based lender's profit nearly tripled, beating Wall Street expectations, with a boost from its high-profile acquisition of Silicon Valley Bank.

First Citizens BancShares Q2 profit boosted by addition of Silicon Valley Bank

RALEIGH, N.C. , Aug. 3, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the second quarter ended June 30, 2023.

First Citizens BancShares Reports Second Quarter 2023 Earnings

RALEIGH, N.C. , Aug. 1, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business has arranged $58 million in financing for Tanger Houston, an open-air outlet center located in Texas City, serving an attractive Texas metropolitan area.

News for First Citizens BancShares Stock (FCNCA)