First Citizens Bank Arranges $58 Million Financing for Tanger Houston

Rhea-AI Summary

First Citizens Bank (FCB) arranges $58 million financing for Tanger Houston, an open-air outlet center in Texas City. FCB's Middle Market Banking team supports Tanger's growth strategy. FCB, celebrating 125th anniversary, merged with CIT in 2022 and acquired Silicon Valley Bank in 2023, expanding its financial solutions for midsize clients.

Positive

• None.

RALEIGH, N.C., Aug. 1, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business has arranged $58 million in financing for Tanger Houston, an open-air outlet center located in Texas City, serving an attractive Texas metropolitan area.

"Tanger Outlets is known nationwide for delivering the value and brands customers want, and we were pleased to support them with this financing," said Brendan Chambers, who leads the First Citizens Middle Market Banking team.

"It was a pleasure to leverage our financing expertise to support Tanger as they continue their successful growth strategy," said Eric Searls, a managing director in the Middle Market Banking group.

Founded in 1898, First Citizens Bank is celebrating its 125th anniversary and its successful history of supporting businesses and consumers alike. The bank took a major step forward in 2022 when it merged with CIT, a leading national bank with strong expertise in serving middle market clients, and again in 2023 when it acquired Silicon Valley Bank. 

First Citizens Middle Market Banking delivers a range of financial solutions to midsize clients through a relationship banking model. The business offers deposit solutions, loans, treasury services and other banking products to manufacturers, distributors and a wide variety of service industries.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th anniversary of its founding, First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 550 branches in 23 states and commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Discover more at firstcitizens.com.

MEDIA RELATIONS:
John M. Moran
212-461-5507
john.moran2@firstcitizens.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-citizens-bank-arranges-58-million-financing-for-tanger-houston-301889524.html

SOURCE First Citizens Bank

FAQ

What is the amount of financing arranged by First Citizens Bank for Tanger Houston?

First Citizens Bank arranged $58 million in financing for Tanger Houston.

Who leads the Middle Market Banking team at First Citizens Bank?

Brendan Chambers leads the Middle Market Banking team at First Citizens Bank.

When was First Citizens Bank founded?

First Citizens Bank was founded in 1898.

What major steps did First Citizens Bank take in 2022 and 2023?

First Citizens Bank merged with CIT in 2022 and acquired Silicon Valley Bank in 2023, expanding its financial solutions for midsize clients.