First Citizens BancShares Inc - FCNCA STOCK NEWS

First Citizens Bank extends a $1 million line of credit to MC Nutraceuticals, a leading hemp-derived cannabinoids supplier, through its Cannabis Banking division. The financing aims to support MC Nutraceuticals' growth and strategic initiatives.

First Citizens Bank receives 20 national and regional Greenwich Excellence and Best Brand awards from Coalition Greenwich for the 11th consecutive year, ranking among the top five nationally. The awards highlight the bank's client-centric approach, trustworthiness, long-term relationships, and exceptional customer service.

First Citizens Bank's Healthcare Finance business provided $37 million to Rethink Healthcare Real Estate to refinance Grandview Physicians Plaza I, a medical office building located in Birmingham, Alabama. The property spans over 200,000 rentable square feet and is conveniently located near the border of Jefferson and Shelby counties on US 280. Tenants include the hospital and various medical practices. The financing was efficiently executed, and it demonstrates First Citizens' industry knowledge and support for the healthcare sector.

First Citizens Bank provides $22.5 million in financing for a new outpatient surgery center in Orlando, Florida. The center will feature 6 operating rooms and 23 beds, offering a wide range of outpatient surgical services. Surgical Investors & Advisors LLC facilitated the financing, emphasizing the positive impact on the region's healthcare infrastructure.

First Citizens Bank partners with nonprofit Teen Cancer America to support young people with cancer during the 'Month of Love'. The bank has contributed over $3.3 million and helped establish TCA programs in six medical centers. TCA aims to improve medical outcomes, enhance treatment experiences, and provide facilities and programs designed for teens and young adults with cancer.

First Citizens BancShares, Inc. reported solid fourth-quarter earnings, with a net income of $514 million and adjusted net income of $678 million. However, there was a notable decrease in net income compared to the third quarter of 2023, and the financial results were impacted by acquisition-related expenses, a decrease in the preliminary gain on acquisition, FDIC insurance special assessment, intangible asset amortization, and fair value adjustment on marketable equity securities. The net interest income, interest income, noninterest income, and noninterest expense all saw changes compared to the third quarter. Loans and leases increased, while deposits decreased. The provision for credit losses increased, and the capital and liquidity positions remained strong. BancShares will host a conference call to discuss the financial results on January 26, 2024.

First Citizens BancShares, Inc. declared dividends on its Class A and Class B common stock, as well as Series A, B, and C preferred stock. The Board of Directors declared a quarterly dividend of $1.64 per share on the common stock and regular quarterly dividends on the preferred stock. The dividends are payable on March 15, 2024, to holders of record as of Feb. 29, 2024.

First Citizens Bank's Healthcare Finance division provided $36.2 million in acquisition financing to Anchor Health Properties to recapitalize three medical office buildings in Charlotte, NC, and Seattle, WA. This move showcases the bank's strong relationship with its clients and its commitment to supporting their growth initiatives. The transaction highlights the bank's expertise in arranging timely and significant financing for the continued growth of its clients' portfolios.

First Citizens Bank appoints James Bennett as executive director of External Affairs to strengthen relationships with government officials and community engagement. Bennett brings a wealth of experience and knowledge to the new role, effective Jan. 1, 2024.