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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RALEIGH, N.C. , June 17, 2024 /PRNewswire/ -- First Citizens Wealth, the wealth management division of First Citizens Bank (NASDAQ: FCNCA/FCNCB), today published the results of a new study conducted to uncover insights on the behaviors and attitudes of affluent Americans toward money management and planning for the future.

Affluent Americans Confident in Their Money Management Skills but Underprepared to Transfer Wealth to Heirs, First Citizens Wealth Study Finds

NEW YORK , June 13, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as coordinating lead arranger on $133 million of financing for the new Cranberry Point Energy Storage project planned for Carver, Massachusetts. Cranberry Point is a 150 MW / 300 MWh battery energy storage project developed by Plus Power with a targeted completion in the second quarter of 2025.

First Citizens Bank Serves as Lead Arranger on $133 Million for Massachusetts Battery Energy Storage Project

NEW YORK , June 13, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Tacoma, Washington. The borrower is a joint venture led by Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets with approximately $55 billion in assets under management and consistently ranking among the top five largest owners in the senior housing sector across the United States.

First Citizens Bank Provides Loan to Refinance Tacoma Senior Living Facility

NEW YORK , June 11, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Asset-Based Lending business will provide up to $400 million in combined financing to facilitate the investments of WhiteHawk Fund IV and WhiteHawk Evergreen Fund. Both funds are managed by WhiteHawk Capital Partners, which seeks to earn attractive returns by sourcing and structuring asset-based loans to private and public companies.

First Citizens Bank Provides Up to $400 Million for WhiteHawk Funds

New report finds one in four dollars invested in healthcare going toward companies leveraging AI SAN FRANCISCO , June 11, 2024 /PRNewswire/ -- Venture capital deal activity in Artificial Intelligence (AI) for healthcare has surged the past five years, growing twice as fast as the tech industry overall. A record one in four healthcare investment dollars goes to companies leveraging AI, according to the latest report from Silicon Valley Bank (SVB), a division of First Citizens Bank.

AI Investments Dominate Healthcare; Silicon Valley Bank Releases New AI Patient Journey Report

RALEIGH, N.C. , June 4, 2024 /PRNewswire/ -- First Citizens BancShares Inc. (Nasdaq: FCNCA), parent company of First Citizens Bank, today was named for the first time to the Fortune 500™ list of the largest companies in the United States by revenue.

First Citizens BancShares Debuts on Fortune 500

NEW YORK , May 30, 2024 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $75 million revolving credit facility to Cisco Equipment Rentals, a Texas-based provider of equipment rentals, new and used equipment sales, parts and service.  The revolver was used to refinance and consolidate multiple existing lending facilities supporting a growth-oriented business plan and in conjunction with a complex restructuring and recapitalization of the balance sheet.

CIT Northbridge Credit Provides $75 Million to Cisco Equipment Rentals

Trinity Capital

Financing provided by SVB's National Fintech Practice and Trinity Capital Inc. (Nasdaq: TRIN) SAN FRANCISCO , May 30, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB) , a division of First Citizens Bank, along with lending partner Trinity Capital Inc . ("Trinity"), today announced that it has provided a $63 million warehouse facility to Denim , a technology-forward factoring partner for freight brokers.

Denim Secures $63 Million Warehouse Facility from Silicon Valley Bank and Trinity Capital Inc.

FCNCA may have low dividend, but is looking to distribute around 190bps of CET1 ratio in share repurchase. Strong deposit, loan growth puts bank in good position to grow. FCNCA remains relatively undervalued to peers in terms of P/E and P/TB metrics.

First Citizens BancShares: Short-Term Upside Coupled With Solid Long-Term Potential

RALEIGH, N.C. , May 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $31.5 million in financing to national fashion retailer Jaclyn LLC for the purchase of a newly constructed industrial warehouse and distribution center in Southern California.

First Citizens Bank Provides $31.5 Million to Fashion Retailer for Purchase of Warehouse and Distribution Center

NEW YORK , May 28, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business served as sole lender on a $74 million senior secured loan to Lonicera Partners on a 23-story, class A multifamily building in Downtown Brooklyn, New York. Located at 310 Livingston Street, the building features 160 luxury apartment units and over 8,600 square feet of ground floor retail and premier amenity space.

First Citizens Bank Provides $74 Million for Multifamily Building in Downtown Brooklyn

NEW YORK , May 15, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business provided $24.5 million in construction financing for 121 Commerce Center, a large new industrial property in Grapevine, Texas. The facility will cover more than 272,000 square feet and feature 36-foot ceilings, 54 truck doors and more than 350 parking spaces.

First Citizens Provides $24.5 Million in Financing for Texas Industrial Project

NEW YORK , May 14, 2024 /PRNewswire/ -- First Citizens Bank today announced that its  Energy Finance  business served as sole bookrunner and co-lead arranger on financings totaling more than $150 million for two Apex Clean Energy ("Apex") battery energy storage projects in Texas. One project, Great Kiskadee Storage, is a 100MW/200MWh battery energy storage system owned by SA Grid Solutions (a joint venture of Apex, SK Gas, and SK Eternix) and under construction in Hidalgo County, Texas.

First Citizens Bank Serves as Sole Bookrunner and Co-Lead Arranger on $150 Million in Financing for Battery Energy Storage Projects

Hercules Capital

Investment from Silicon Valley Bank and Hercules Capital Will Further Accelerate Platform Innovation SAN FRANCISCO , May 14, 2024 /PRNewswire/ -- Harness , the Modern Software Delivery Platform® company, today announced $150 million in financing from Silicon Valley Bank (SVB), a division of First Citizens Bank, and Hercules Capital, Inc. (NYSE: HTGC). The investment will be used strategically to support the expansion of the Harness platform, including the addition of new modules, further integrating generative AI into the platform, and additional investments in the company's go-to-market engine.

Harness Raises $150 Million in New Financing

As a sign of stabilization in US venture capital, findings show long-term tailwinds behind climate tech  SAN FRANCISCO , May 14, 2024 /PRNewswire/ -- With 88% of global carbon emissions now covered by a net-zero goal, climate tech has outperformed and investors remain committed to the sector, according to a new report from Silicon Valley Bank (SVB), a division of First Citizens Bank. While overall venture capital (VC) fundraising and deal activity in 2023 saw a 24% decline from 2021, climate tech is only 14% below 2021 results, with several individual subsectors like carbon tech and climate data showing signs of growth.

Climate Tech Fundraising Remains Steady; Silicon Valley Bank Releases Annual Climate Tech Report

RALEIGH, N.C. , May 9, 2024 /PRNewswire/ -- First Citizens Bank today announced a $25,000 donation to support community relief efforts in areas devastated by the tornadoes that recently ripped through the Midwest.

First Citizens Bank Donates $25,000 to Support Tornado Relief Efforts in Greater Omaha Communities

NEW YORK , May 9, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business served as lead arranger for a $260 million loan to refinance a portfolio of 12 skilled nursing facilities in Maryland. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities with Investments in over 24 states.

First Citizens Bank Arranges $260 Million in Financing for Skilled Nursing Facilities

RALEIGH, N.C. , May 8, 2024 /PRNewswire/ -- First Citizens Wealth today launched new enhancements to its Private Investments capabilities that enable qualified clients to invest in growth-oriented opportunities outside of the traditional public securities markets.

First Citizens Wealth Launches Enhanced Private Investments Capabilities

The U.S. Federal Reserve Board has issued an enforcement action with First Citizens Bank of Butte in Montana, the board said in a statement on Tuesday.

US Fed issues enforcement action with First Citizens Bank Of Butte -statement

First Citizens (FCNCA) could produce exceptional returns because of its solid growth attributes.

3 Reasons Growth Investors Will Love First Citizens (FCNCA)

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is First Citizens BancShares (FCNCA) a Great Value Stock Right Now?

First Citizens BancShares, Inc. (FCNCA) Q1 2024 Earnings Call Transcript

Valley National

First Citizens Bancshares Inc.'s stock rose on stronger-than-expected profit and a boosted outlook for net interest income on Thursday, roughly a year after the big regional bank acquired the beleaguered Silicon Valley Bank.

First Citizens' stock boosted by first-quarter earnings, while Valley National shares drop

The headline numbers for First Citizens (FCNCA) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

First Citizens (FCNCA) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

Showing its ability to navigate challenging economic conditions and make progress in integrating its purchase of Silicon Valley Bank, Raleigh-based First Citizens BancShares posted a solid first quarter on Thursday (April 25) marked by an optimistic take on consumer spending.

News for First Citizens BancShares Stock (FCNCA)