Welcome to our dedicated page for First Citizens BancShares news (Ticker: FCNCA), a resource for investors and traders seeking the latest updates and insights on First Citizens BancShares stock.
First Citizens BancShares Inc is the bank holding company of First Citizens Bank & Trust Company. Founded as the Bank of Smithfield in North Carolina, FCB has expanded through de novo branching and acquisitions. Operating in nearly half of the continental United States, FCB primarily takes deposits in the Carolinas. Historically influenced by the Holding family, FCB provides retail and commercial banking services, trust, wealth management, with main revenue from net interest income.
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First Citizens BancShares, Inc. declares dividends on common and preferred stock. The quarterly dividend on Class A and Class B common stock is increased from 75 cents per share to $1.64 per share. Dividends will be payable on Dec. 15, 2023.
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First Citizens Bank has provided $60 million in financing to Gore Street Energy Storage Fund for the development of a 200-megawatt battery storage project in California. The financing will support the project's development and provide liquidity for Gore Street Energy Storage.
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Silicon Valley Bank (SVB) is showcasing new products and services at the Money20/20 event. SVB Go, their digital banking platform, is being rolled out to clients. SVB also has new travel and expense management tools, embedded finance solutions, and real-time digital onboarding. In 2024, SVB will launch real-time payments origination functionality. SVB provides banking services, debt-financing solutions, and market insights to the innovation economy.
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First Citizens Bank's subsidiary, CIT Commercial Services, closed three major client financing transactions. A $50 million factoring facility was provided to a Midwest-based supplier of home comfort products. A California-based wholesaler of health and wellness products and a wholesaler of socks and hosiery also received working capital financing and factoring facilities. The California-based companies are expected to generate over $100 million in combined factoring volume.
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Silicon Valley Bank (SVB) appoints Jennifer Friel Goldstein as Head of Business Development and Strategic Initiatives for Life Science and Healthcare banking. Goldstein will identify market opportunities to connect VC and industry stakeholders to SVB's clients and prospects.
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First Citizens Bank's Energy Finance business arranges $672 million in financing for three battery storage projects by Plus Power.
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First Citizens Bank serves as lead arranger on acquisition financing for Encore Luxury Coaches
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First Citizens BancShares, Inc. (NASDAQ: FCNCA) will report its financial results for Q3 2023 on Oct. 26, 2023. The conference call and webcast to discuss the results will be held at 9 a.m. Eastern time on the same day.
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Despite ongoing public market headwinds, the healthtech sector shows signs of resilience with positive performance trends and increased M&A activity, according to Silicon Valley Bank's Future of Healthtech 2023 report. Valuation resets impact investment activity, but venture fundraising has rebounded and there is significant dry powder for investment. Key data points include $8.2 billion in venture capital invested, healthtech publics trading up 6% in Q1 and 25% in Q2, and 75 private venture-backed M&A deals in 2023. 50% of healthtech mega-deals focused on value-based care.
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First Citizens Bank extends its brand to cover various commercial business verticals previously under CIT division, simplifying go-to-market strategy and accelerating growth trajectory. Transition expected to be completed by year-end.
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FAQ
What is the current stock price of First Citizens BancShares (FCNCA)?
The current stock price of First Citizens BancShares (FCNCA) is $2218.11 as of January 22, 2025.
What is the market cap of First Citizens BancShares (FCNCA)?
The market cap of First Citizens BancShares (FCNCA) is approximately 31.1B.
When was First Citizens BancShares Inc founded?
First Citizens BancShares Inc, the bank holding company of First Citizens Bank & Trust Company, was founded as the Bank of Smithfield in North Carolina.
How does FCB primarily generate revenue?
FCB's main source of revenue is net interest income.
In how many states does First Citizens Bank operate?
First Citizens Bank operates in nearly half of the continental United States, but principally takes deposits in the Carolinas.
What services does FCB provide?
FCB provides a wide range of retail and commercial banking services, traditional lending, deposit-taking, trust, and wealth management.
What is the historical influence on FCB?
FCB's operations have historically been influenced by the Holding family, which has traditionally held executive and director positions, as well as controlling a large percentage of its outstanding stock.
What is the significance of First Citizens Bank today?
First Citizens Bank today is a full-service banking institution with more than 6,000 employees and more than 560 branches in 18 states.
What is the current financial condition of First Citizens BancShares Inc?
FCB, the parent company, has more than $30 billion in assets.
Where is First Citizens BancShares Inc headquartered?
First Citizens BancShares Inc is headquartered in Raleigh, North Carolina.
What is the core business of First Citizens BancShares Inc?
The core business of FCB is providing retail and commercial banking services, trust, and wealth management.
What is the stock symbol of First Citizens BancShares Inc?
The stock symbol of First Citizens BancShares Inc is FCNCA.
How does FCB help its clients build financial strength?
First Citizens Bank helps personal, business, commercial, and wealth clients build financial strength through various banking services and offerings.
First Citizens BancShares Inc
Nasdaq:FCNCA
FCNCA Rankings
FCNCA Stock Data
31.13B
10.72M
20.46%
68.36%
2.69%
Banks - Regional
State Commercial Banks
United States of America
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