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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Novartis

SVB Financial Group

Here were some of the most active stocks in premarket trade, as U.S. stock index futures were boosted on improving news from the banking sector.

First Citizens shares leap on SVB deal as Novartis stock boosted by breast-cancer drug trial

Seventeen days after its collapse, Silicon Valley Bank has a new owner. First Citizens Bank, a North Carolina lender with a long history of purchasing failed banks, announced Monday (Mar. 27) that it was assuming ownership of all of Silicon Valley Bank (SVB's) loans and assets.

First Citizens Snaps Up Big Chunk of SVB

First Republic

Shares of First Republic Bank FRC, -1.36% surged 24% in premarket trading on Monday and led a swathe of regional lenders higher, following news of that failed Silicon Valley Bank finally has a buyer. The Federal Deposit Insurance Corp. announced earlier on Monday that First Citizens BancShares Inc.  FCNCA, -1.11% has entered a deal to assume all loans and deposits of Silicon Valley Bridge Bank, which was created by the FDIC following the closure of Silicon Valley Bank.

First Republic stock up 24%, leading regional lenders after First Citizens deal for Silicon Valley Bank

Can a North Carolina-based bank hold into Silicon Valley Bank's customers?

Growing 90%, Raleigh-Based First Citizens Buys Assets Of Silicon Valley Bank

Collapse of tech sector lender will cost about $20bn in deposit insurance payouts, say US regulators

Silicon Valley Bank: most of failed lender bought by First Citizens

First Citizens will assume ownership of branches, deposits and loans as of Monday morning.

First Citizens Buys Large Parts of Failed Silicon Valley Bank

North Carolina-based lender First Citizens Bank has sealed a deal to buy collapsed lender Silicon Valley Bank, taking on US$56bn (£46bn) of customer deposits, US regulators have confirmed. First Citizens, a family-run institution with over 500 branches across the US, inked the agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership all of SVB's loans and certain assets and liabilities.

First Citizens Bank takes over collapsed lender Silicon Valley Bank

First Citizens Bank will purchase about $72 billion of Silicon Valley Bank's assets at a discount of $16.5 billion.

First Citizens Bank Inks Deal To Acquire Silicon Valley Bank's Loans And Deposits

First Citizens BankShares has agreed to buy Silicon Valley Bank, the California lender that served as lifeblood of thousands of startups and whose collapse sent shockwaves through the financial sector, the Federal Deposit Insurance Corporation said on Monday.

First Citizens to acquire Silicon Valley Bank

First Citizens Bancshares is buying big pieces of Silicon Valley Bank more than two weeks after the lender's collapse sent tremors through the banking system.

First Citizens Acquires Much of Failed Silicon Valley Bank

The deal includes the purchase of about $72 billion of Silicon Valley Bridget Bank assets at a discount of $16.5 billion.

First Citizens buys Silicon Valley Bank

First Citizens Bank has agreed to purchase all deposits and loans of Silicon Valley Bank, the Federal Deposit Insurance Corporation announced late Sunday.

First Citizens Bank is buying Silicon Valley Bank's deposits and loans

Acquisition affirms First Citizens' commitment to support Silicon Valley Bank depositors and borrowers Transaction is structured to preserve First Citizens' solid financial position Combined company remains resilient and secure with diverse loan portfolio and deposit base Combination builds on First Citizens' significant expertise and renowned franchises to meet the needs of a broader customer base Allows First Citizens to build on its experience with innovation hubs by leveraging Silicon Valley Bank's strength in serving the private equity, venture capital and technology sectors Transaction brings together complementary strengths of both banks' middle market commercial banking and private banking capabilities and leverages common platforms, vendor partners and technologies Prudent risk management approach will continue to protect customers and stockholders through all economic cycles and market conditions RALEIGH, N.C. , March 27, 2023 /PRNewswire/ -- First-Citizens Bank & Trust Company ("First Citizens Bank"), a subsidiary of Raleigh-headquartered First Citizens BancShares, Inc. ("First Citizens") (Nasdaq: FCNCA), announced today that it has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase out of FDIC receivership substantially all loans and certain other assets, and assume all customer deposits and certain other liabilities of Silicon Valley Bridge Bank, N.A.

First Citizens Bank Enters into Whole Bank Purchase of Silicon Valley Bridge Bank, N.A.

First Citizens Bank agreed to buy Silicon Valley Bank's deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday.

First Citizens Bank to buy Silicon Valley Bank deposits and loans

First Citizens Bank & Trust Co will buy all of Silicon Valley Bank's deposits and loans from the Federal Deposit Insurance Corporation (FDIC), the regulator said in a statement.

First Citizens Bank to buy SVB's deposits, loans from FDIC

First Citizens BancShares Inc. is close to a deal to acquire failed Silicon Valley Bank from the Federal Deposit Insurance Corp., according to a report late Sunday.

First Citizens near deal to buy Silicon Valley Bank: report

First Citizens BancShares Inc was in advanced talks to acquire Silicon Valley Bank and close to making a deal, Bloomberg News reported on Sunday, citing people familiar with the matter.

First Citizens said to be near deal for Silicon Valley Bank, Bloomberg reports

Valley National

Two regional banks are reportedly competing to purchase failed lender Silicon Valley Bank. First Citizens BancShares and Valley National Bancorp have filed bids with the Federal Deposit Insurance Corp. (FDIC), Bloomberg News reported Saturday (March 25), citing people with knowledge of the matter.

First Citizens and Valley National Reportedly Competing to Own SVB

Valley National Bancorp and First Citizens BancShares Inc. are both vying to buy Silicon Valley Bank, Bloomberg News reported on Saturday.

Valley National, First Citizens bidding for Silicon Valley Bank- Bloomberg News

American Express

Interactive Brokers

What do Interactive Brokers Group Inc., American Express Co. and First Citizens BancShares Inc. have in common?

This Gabelli financial-fund manager has bucked this year's brutal banking trend. Here are 3 stocks he likes now.

First Citizens Bank reportedly aims to buy Silicon Valley Bank.

Veteran Bank Buyer First Citizens Reportedly Wants Silicon Valley Bank

BankUnited

Credit Suisse

PacWest Bancorp

UBS Group AG

SPDR Regional Banking ETF (KRE) advanced as much as 2.1% on Monday, after dropping 14% last week, following the news of a Swiss government-engineered takeover of troubled lender Credit Suisse by UBS. Leading the advance was PacWest Bancorp shares, which climbed 10% to $10.17, while shares of First Citizens BancShares Inc also jumped 10% to $559.30, and BankUnited (NYSE:BKU) Inc stock rose 7% to $22.74.

PacWest, First Citizens, BankUnited shares lead rebound of regional bank stocks as UBS buys Credit Suisse

First Citizens Bancshares will submit bids to the Federal Deposit Insurance Corp (FDIC) to acquire parts of Silicon Valley Bank, one source with knowledge of the matter said on Monday.

First Citizens plans to bid for SVB businesses -source

First Citizens Bancshares FCNCA, +9.60% on Sunday offered to buy all of Silicon Valley Bank, Bloomberg reported. The bank, which has acquired 20 failed banks since 2009, may also participate in auctions taking place this week for parts of the bank by the Federal Deposit Insurance Corp. (FDIC), said the report, which cited people familiar with the situation.

First Citizens Bancshares pursuing acquisition of Silicon Valley Bank: Bloomberg

First Citizens Bank is reportedly offering to purchase failed lender Silicon Valley Bank. According to a Sunday (March 19) Bloomberg News report, the North Carolina-based financial institution is one of a handful of suitors for Silicon Valley Bank (SVB).

News for First Citizens BancShares Stock (FCNCA)