First Citizens Bank

First Citizens Bank

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More info of First Citizens Bank

Located in Raleigh (NC), First Citizens Bank is another century-old institution known for its financial services. It is a bank ranked among the top 40 largest banks in the United States for its nearly $110 billion in assets and carries a family tradition like few others in the US.

First-Citizens Bank & Trust Company has evolved since the 2008 crisis to become a reliable entity. Among its banking services, you can access savings/checking accounts, loans, cards, mortgages, investments, insurance, retirement products and more.

Currently, this financial institution has physical offices in the following 21 states: Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, Nebraska, Nevada, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington, West, Virginia and Wisconsin.

History of First Citizens Bank

First Citizens Bank's history dates back some 120 years to the late 1800s. Known for maintaining much of its original values, we can summarize the evolution of this entity as follows:

• 1898. The institution was born with the name of Smithfield (NC) and just $10 thousand of capital. At that time, they were dedicated to support the farmers of Johnston County.
• 1935. After 17 years, this entity would be renamed First-Citizens Bank & Trust Company, extending its operations to Raleigh and eastern North Carolina.
• 1957. After the death of its president R.P. Holding, the management would be left in the hands of his three sons, who continued with the legacy of the Holding family.
• 1974. During this time, First Citizens opened more agencies in North Carolina and moved its headquarters from Smithfield to Raleigh. By this time, it had assets valued at $1 billion.
• 1994. Begins expansion outside its home state with the purchase of a bank located in West Virginia.
• 2009. In the wake of the 2008 global financial crisis, this bank remained a safe and stable institution for its account holders. It also ushered in the 3rd generation of the Holding family to lead its vision for the future.
• 2015. First Citizens is also committed to youth, partnering with NGOs Who's Roger Dautry and Teen Cancer America (TCA), to achieve better care for this population.
• 2022. The bank merges with CIT Bank, although both retain their names. The resulting institution becomes one of the largest in the country.
• 2023. First Citizens Bank acquires Silicon Valley Bank after its failure, insuring its customers' deposits and loans.

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