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' (FCNCA) subsidiary enters a deal to buy a chunk of Silicon Valley Bank following its collapse.

First Citizens (FCNCA) Jumps on Buying Part of SVB Post Failure

The management team at First Citizens BancShares agreed to absorb Silicon Valley Bridge Bank in a deal that will drastically increase the company's asset base. This move grants First Citizens significant benefits and protections while building out and growing new and existing operations, respectively.

First Citizens BancShares Wins The Lottery With Acquisition Of Silicon Valley Bank

SVB Financial Group

In total, First Citizens Bank will pick up $56 billion of new deposits and $72 billion of existing loans, at a discount of $16.5 billion.

First Citizens Bank Buys Silicon Valley Bank's Assets - Did Shareholders Get A Good Deal?

D.A. Davidson on Tuesday hiked its price target by $200 to $1,025 a share for First Citizens Bancshares Inc. FCNCA, +53.74% but reiterated its neutral rating after a big rise in the stock in the previous session on the bank's plan to buy the bulk of the Silicon Valley Bank business in a deal brokered by the Federal Deposit Insurance Corp. (FDIC). Analyst Kevin P.

D.A. Davidson hikes price target for First Citizens BancShares but remains neutral on the stock after rally

Stocks hammered by a crisis of confidence in the banking industry continue their rebound.

Banks Continue Recovery After SVB Sale. First Citizens Isn't the Only Winner.

Cramer said the Fed will continue with rate hikes until wage inflation cools off, but that if another large bank like First Republic collapses, "it'll definitely do the job."

First Citizens takeover of SVB won't solve the bank run problem, Jim Cramer says

The Federal Deposit Insurance Corporation was originally determined not to let a buyer cherry-pick only the best assets when it found someone to acquire failed venture capital banking leader Silicon Valley Bank ( SIVB , Financial). The regulator also put on hold any private equity offers, wanting the bank's assets to stay in the hands of a publicly traded company.

First Citizens Spikes 50% on Silicon Valley Bank Deal

Credit Suisse

First Republic

W.W. Grainger

UBS Group AG

Western Alliance Bancorporation

Investors can't catch a break from banking headlines, with fears of contagion taking the majority of focus as of late. And just over the weekend, investors were met with another significant headline.

Banking Turmoil: What's Happening This Time?

The Nasdaq closed lower, though, as mega-cap tech stocks declined.

Stock Market Today: Stocks Finish Mostly Higher After First Citizens Buys SVB Assets

Bank jitters eased Monday as First Citiizens announced a deal to acquire assets from SVB. A Senate hearing on the bank crisis is slated for Tuesday.

US stocks trade mixed as bank fears ebb with sale of SVB assets to First Citizens

First Citizens BancShares Inc. will become much larger on the national stage with its acquisition of Silicon Valley Bank, but not large enough to trigger more layers of regulation and capital requirements, company officials said Monday.

First Citizens grows bigger with Silicon Valley Bank deal, but not big enough to move to next regulatory level

First Citizens Bancshares Inc.'s stock skyrocketed Monday, fueled by the company's agreement to assume all the deposits and loans of Silicon Valley Bridge Bank from the Federal Deposit Insurance Corp.

First Citizens skyrockets on Silicon Valley Bank deal. What's next for the stock?

First Citizens BancShares Inc , a regional bank that has built a reputation of buying troubled rivals, is in the spotlight after it agreed to buy failed Silicon Valley Bank.

Factbox: First Citizens BancShares, buyer of flailing rivals

The deal gives the North Carolina bank $219 billion in assets. Three years ago, it had $42 billion.

First Citizens Adds to Its Collection of Failed Banks With SVB Purchase

Shares of the Raleigh, North Carolina-based bank hit an intraday high of over $880, its highest level in more than a year.

First Citizens Bank jumps 50% after deal to acquire assets of collapsed Silicon Valley Bank

Frist Citizens BancShares Inc (NASDAQ: FCNCA) is trading about 45% up this morning after agreeing to buy Silicon Valley Bank assets at a deep discount.

First Citizens shares jump 45% on ‘very good news'

The deal includes $72 billion of SVB's loans and $56 billion of deposits and grows First Citizens to $219 billion in total assets. The acquisition looks to be massively accretive to its earnings and tangible book value.

First Citizens Is Buying Most of Silicon Valley Bank's Assets -- Shares Are Rocketing Higher

The FDIC, First Citizens Bank, and SIVB have crafted a deal. First Citizens Bank will take over SIVB's branches and a portion of its assets.

It's A Deal: First Citizens Buys Silicon Valley Bank

First Citizens Bancshares (NASDAQ: FCNCA ) stock opened higher by about 50% today after it was announced that First Citizens Bank had agreed to buy Silicon Valley Bridge Bank from the Federal Deposit Insurance Corporation (FDIC). The government corporation took control of SVB following fears of a bank run and subsequently created Silicon Valley Bridge Bank.

10 Things for Investors to Know About the First Citizens-Silicon Valley Bank Deal

Deutsche Bank

First Citizens Bank stock has gained over 50% in premarket trading, but this has been driven by the news that they've purchased $72 billion worth of assets from defunct Silicon Valley Bank at a discount of $16.5 billion.

How Investors Can Navigate Banking Uncertainty As Deutsche Bank, First Citizens Bank And First Republic Bank Stock Seesaws

First Citizens announced that it would acquire most of SVB's operating assets out of FDIC receivership. The deal terms look quite favorable for First Citizens, including a $16.5B discount on the acquired assets, a loss-sharing agreement, and favorable funding and liquidity deals.

First Citizens BancShares: Leveraging FDIC Pain Into Potential Gains For Shareholders

PacWest Bancorp

Regional bank stocks like First Republic were rising after First Citizens agreed to buy large parts of the collapsed bank.

SVB Has a New Owner. First Republic and Other Regional Bank Stocks Rally.

First Citizens (NYSE: FCNCA ) stock is trending and soaring more than 40% today on news that the FDIC has reached a deal with the bank to buy assets from SVB Financial. SVB, a California-based bank, was closed earlier this month after many depositors rushed to withdraw their money from it.

5 Investors Betting Big on First Citizens (FCNCA) Stock

Valley National

The winning bidder in the government's auction of Silicon Valley Bank's main assets got several concessions to make the deal happen.

Here's why the U.S. had to sweeten terms to get the SVB sale done

Bank stocks rallied as First Citizens agreed to buy Silicon Valley Bank while officials mull more First Republic support. KeyCorp got an upgrade.

News for First Citizens BancShares Stock (FCNCA)