First Citizens BancShares Inc - FCNCA STOCK NEWS

Silicon Valley Bank (SVB), a division of First Citizens Bank, released its 2024 State of the US Wine Industry Report, providing a comprehensive assessment of the industry, market conditions, and forecasts for the year ahead. The report includes proprietary research and survey data collected from over 500 wineries across the US. It highlights the impact of changing market dynamics, the need for collaboration, and the importance of increased efficiencies in marketing and sales for wineries. The report also examines the latest consumption, pricing, sales data, and the most promising wine industry marketing strategies, including trends in premium wine sales, tasting room visitation, direct-to-consumer sales, and conditions for overproduction in the wine category. The report will be discussed in a live webinar hosted by Silicon Valley Bank, featuring industry experts. SVB's Wine Division, founded in 1994, specializes in commercial banking for premium wineries and vineyards, with the largest team of commercial bankers dedicated to the wine industry nationwide.

First Citizens BancShares, Inc. announced the appointment of Gregory L. Smith as the Chief Information & Operations Officer for BancShares and its subsidiary, First-Citizens Bank & Trust Company. Smith will be responsible for technology, operations, cyber, and data functions across the enterprise, reporting to Chairman and CEO Frank B. Holding, Jr. With extensive experience in transformation and technology leadership roles at best-in-class organizations, Smith's appointment aims to drive excellence and innovation as the company continues to grow and evolve. Smith joins from TD Bank Financial Group in Toronto, Canada, where he served in various leadership roles, setting the vision and building key capabilities for end-to-end transformational change.

Silicon Valley Bank (SVB) releases its first Innovation in Women's Health Report, revealing a 314% increase in women's health venture capital investment since 2018. Despite valuations dropping in 2023, the report highlights the shift in focus from fertility and pregnancy to emerging areas such as menopause, pelvic health, and mental health. The lack of data collection on women's health conditions is identified as a roadblock for founders when convincing investors. The report also indicates that 76% of women's health companies have a female founder, which is three times higher than companies across the overall innovation ecosystem.

First Citizens BancShares, Inc. (NASDAQ: FCNCA) will report its financial results for the fourth quarter and year ended Dec. 31, 2023, before the U.S. financial markets open on Friday, Jan. 26, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day.

First Citizens Bank (FCNCA) provided $16 million in financing to Raymour & Flanigan for the purchase of a furniture showroom in White Plains, New York. The strategic addition to Raymour & Flanigan's footprint due to its size and location near major commuter thoroughfares will allow for a more robust and convenient shopping experience. Raymour & Flanigan is the seventh largest furniture retailer in the United States, operating 107 showrooms across the Northeast, as well as 34 outlet stores, five clearance centers, and a rapidly growing e-commerce business.

First Citizens Bank (FCB) announced that CIT Northbridge Credit, with advice from First Citizens Institutional Asset Management LLC, has provided working capital financing to Winona Foods in Green Bay, Wisconsin. Winona Foods is a fully integrated processor and distributor of cheese and cheese products. CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions.

First Citizens Bank (FCB) and Jupiter Power LLC (Jupiter Power) have closed on $65.2 million in financing for the construction of a 200-megawatt (MW) / 400 megawatt-hour (MWh) battery energy storage system in Houston, Texas. Jupiter Power, based in Austin, Texas, and Chicago, Illinois, is a leader in energy storage infrastructure with 775 MWh of operating projects, 620 MWh in construction, and more than 11,000 MW of new projects in development from Maine to California.

First Citizens BancShares, Inc. (BancShares) appoints David G. Leitch, a distinguished leader and executive, to its board of directors and its subsidiary, First-Citizens Bank & Trust Company, effective Jan. 1, 2024. Leitch brings extensive legal and banking industry knowledge from his roles at Bank of America Corp. and Ford Motor Co. He will serve on the board's audit committee and compensation, nominations, and governance committee.

First Citizens Bank (FCNCA) served as lead arranger of $345 million in financing for DataBank's new ATL4 hyperscale data center in Atlanta, Georgia. The facility, supported with renewable power, is expected to open in Q3 2024, meeting the growing demand for artificial intelligence applications. DataBank's President & CFO, Kevin Ooley, acknowledged the agility and expertise of the First Citizens Bank team in making this financing a reality.