First Citizens BancShares (NASDAQ:FCNCA) (NASDAQ: FCNCA) is the bank holding company for First Citizens Bank, a diversified financial institution headquartered in Raleigh, North Carolina. Through its principal subsidiary, First Citizens Bank & Trust Company, the firm offers a full range of banking and financial services to individuals, small-to-medium businesses, and corporate clients. The company operates full-service retail branches, loan production offices and commercial banking offices across multiple U.S. states.
The company’s core business activities include traditional deposit-taking and lending services, such as checking and savings accounts, certificates of deposit and consumer loans. On the commercial side, First Citizens provides credit solutions ranging from commercial real estate financing and equipment lending to asset-based lending and cash-management services. In addition, the bank offers wealth management, trust and investment advisory services through its fiduciary division to high-net-worth individuals, families and nonprofit organizations.
First Citizens has expanded its geographic footprint through both organic growth and strategic acquisitions. A notable milestone was the acquisition of CIT Group’s banking operations, which closed in early 2022 and significantly enhanced the company’s capabilities in middle-market lending and equipment finance. Today, First Citizens serves customers in more than 20 states, with a branch network concentrated in the Southeast, Mid-Atlantic and parts of the Midwest and West Coast.
Founded in 1898 as the Bank of Smithfield in North Carolina, the institution was later reorganized as First-Citizens Bank & Trust Company in 1945. Over the decades, leadership under the Holding family has overseen both steady growth and periods of transformation, maintaining a focus on relationship banking and conservative underwriting. Frank B. Holding Jr. serves as chairman and chief executive officer, guiding the company’s strategy to balance local market presence with a broader national lending platform.
