First Citizens

Bank of Smithfield opened with $10,000 in capital, serving North Carolina’s Johnston County farming economy.⁠[1]

R. P. Holding became president and chairman. His three sons continued the bank’s management after his death in 1957.⁠[1]

The bank relocated to Raleigh and surpassed $1 billion in assets.⁠[1]

A West Virginia acquisition established the bank’s first branches outside North Carolina.⁠[1]

Frank B. Holding Jr. became chairman and Hope Holding Bryant vice chairwoman, representing the family’s third generation.⁠[1]

First Citizens BancShares completed its merger with CIT Group, with CIT’s operations absorbed into First-Citizens Bank & Trust Company through the transaction. The combination joined the retail franchise with CIT’s national commercial lending, leasing and digital direct banking. CIT, CIT Bank and OneWest Bank initially operated as divisions during integration.⁠[2][3]

The FDIC announced that First Citizens would acquire Silicon Valley Bridge Bank’s deposit and loan business. The purchase covered approximately $72 billion in assets at a $16.5 billion discount; about $90 billion in securities and other assets remained in receivership. A loss-sharing arrangement covered acquired commercial loans. The 17 former branches reopened as First Citizens branches on March 27.⁠[4]

Parent company First Citizens BancShares reported second-quarter 2026 net income of $672 million, including $640 million available to common shareholders, and earnings of $55.52 per share. Loans and leases stood at $151.03 billion and deposits at $173.43 billion on June 30. These figures use the parent’s consolidated reporting scope.⁠[5]

First Citizens Bank acquired 138 branches from BMO Bank N.A., assuming about $5 billion in deposits and $650 million in loans. On September 8 it announced the completed conversion of customer accounts. The bank then had more than 600 branches and offices, extending its presence across the Midwest, Great Plains and West.⁠[6]

Former SVB Technology & Healthcare Banking became First Citizens Innovation Banking, led by president Marc Cadieux. The fund banking business adopted the First Citizens Fund Banking brand, while SVB Wine moved to First Citizens Bank, consolidating the acquired businesses under the group’s identity.⁠[7][8]

First Citizens Innovation Banking participated in debt financing for Capitolis.⁠[9]

First-Citizens Bank & Trust Company is the operating bank; First Citizens BancShares, Inc. is its publicly traded parent, listed on Nasdaq as FCNCA. The Raleigh-based bank provides personal and business banking, commercial lending and leasing, wealth management and innovation banking. Frank B. Holding Jr. is chairman and chief executive.⁠[10][5][6]

Website: https://www.firstcitizens.com/ (opens in a new window). X: https://x.com/firstcitizens (opens in a new window). YouTubeYouTubeYouTube is Google’s video-sharing and creator platform, founded in 2005 by Steve Chen, Chad Hurley, and Jawed Karim and acquired by Google in 2006. Built around video uploading, viewing, and creator earnings, the platform has developed Shorts, YouTube Music, Premium, YouTube TV, and products for children, and is headquartered in San Bruno, California, United States.Open the full entry: https://www.youtube.com/@firstcitizensbank-official (opens in a new window). LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: https://www.linkedin.com/company/first-citizens-bank/ (opens in a new window). The bank’s website links directly to these accounts. Innovation banking and wealth management maintain separate branded pages.⁠[11][12][13]