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First Citizens BancShares Inc - FCNCA STOCK NEWS

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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CIT, a division of First Citizens Bank, has provided $110 million in senior secured credit facilities to Quipt Home Medical Corp. The financing comprises a delayed draw term loan and a revolving credit facility, aimed at refinancing existing debt and facilitating future growth, including acquisitions. Quipt, a leader in home medical equipment focused on in-home monitoring, views this financing as a validation of its business model and a means to pursue its aggressive growth strategy while maintaining a healthy balance sheet.

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CIT Northbridge Credit has arranged a $65 million revolving credit facility for Everlane, a retailer focused on sustainable apparel. This financing will support Everlane's growth through new stores and product expansion, enhancing its sustainability mission. Everlane, founded in 2011, operates primarily online and through 10 retail locations across the U.S. The partnership reflects CIT Northbridge's commitment to supporting companies in the apparel sector, particularly with the growing emphasis on environmental impact.

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CIT, a division of First Citizens Bank, has arranged debt financing to support SK Capital Partners' investment in VanDeMark Chemical, in collaboration with existing co-owner Comvest Partners. The financing was supported by participation from HSBC, Siemens, and Israel Discount Bank. VanDeMark, based in Lockport, N.Y., specializes in high-end specialty chemical intermediates across diverse markets including life sciences and electronics. CIT Sponsor Finance provides senior financing for middle-market private equity firms, enhancing its role in private equity transactions.

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CIT, a division of First Citizens Bank, announced the provision of $50.8 million to Seavest Healthcare Properties for refinancing the Providence Family Wellness Center in Hillsboro, Oregon. This 118,000 square foot facility offers various healthcare services including primary care and urgent care. Leased to Providence Health & Services, a significant player in the U.S. healthcare system, the wellness center serves a growing community. CIT's Healthcare Finance unit focuses on tailored financing solutions for middle market healthcare firms, supporting strategic investments across the sector.

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CIT, a division of First Citizens Bank, announced $10 million in financing to Blue Sky Specialty Pharmacy, a Charleston-based company focused on enhancing the prescription process for patients and healthcare providers. This financing was facilitated through a collaboration between the Middle Market Banking team and the Asset-Based Lending division, both part of First Citizens' acquisition of CIT in January. Blue Sky aims to leverage this funding to further innovate its technology and improve service delivery in the specialty pharmacy sector.

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CIT, a division of First Citizens Bank, has announced a $100 million financing deal for Stonegate Capital, a middle-market lender. This financing replaces an existing facility and supports Stonegate's capacity to provide credit facilities ranging from $2 million to over $15 million. The partnership aims to aid Stonegate in achieving its business goals and promote its growth, leveraging CIT's expertise in asset-based lending.

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CIT, a division of First Citizens Bank, has increased its credit facilities for FOX Rehabilitation by $50 million, bringing total financing to $172.3 million. This funding supports FOX's growth strategy, following their February 2019 acquisition by Blue Wolf Capital Partners. FOX, a leading provider of in-home therapy services, has expanded operations into eight new states, demonstrating significant organic growth. The financing aims to enhance FOX's ability to meet increasing patient demand and service needs.

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CIT, part of First Citizens Bank, has increased its financing to Globus Maritime Limited by $18 million, bringing the total financing to $52.25 million. This financing is secured by seven dry-bulk shipping vessels, indicating strong support for Globus Maritime's growth in the shipping industry. Athanasios Feidakis, CEO of Globus Maritime, acknowledged CIT's expertise in this expanded financing deal.

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CIT, a division of First Citizens Bank, has arranged $67.5 million in financing for the acquisition and expansion of the Northwest Specialty Hospital in the Greater Spokane area. The facility includes a 32-bed surgical hospital and a 36,000-square-foot medical office building. The acquisition is led by Hammes Partners, known for its high-quality medical properties investment. This financing supports CIT's commitment to healthcare finance, enhancing relationships and enabling further growth in a high-demand market.

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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 $2127.96 as of December 23, 2024.

What is the market cap of First Citizens BancShares (FCNCA)?

The market cap of First Citizens BancShares (FCNCA) is approximately 29.4B.

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

29.42B
10.72M
20.46%
68.39%
2.7%
Banks - Regional
State Commercial Banks
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United States of America
RALEIGH