FIRST CITIZENS BANCSHARES INC

First Citizens BancShares, Inc. (NASDAQ: FCNCA) operates as a diversified financial services holding company with a comprehensive banking platform serving consumers, businesses, and professionals across the United States. The company traces its origins to 1898 when First-Citizens Bank & Trust Company opened as the Bank of Smithfield in North Carolina, evolving into one of the nation's significant regional banking institutions.

As of December 31, 2025, First Citizens BancShares maintains total consolidated assets of $229.70 billion and employs approximately 18,141 full-time and part-time staff. The company operates more than 500 domestic branches and offices, with significant concentrations in North Carolina, South Carolina, and California, alongside operations in 22 additional states spanning the Southeast, Mid-Atlantic, Midwest, and Western regions.

The company organizes its operations into three primary reportable segments. The General Bank segment delivers deposit products, consumer and commercial loans, wealth management, and private banking services through an extensive branch network and digital channels, including a nationwide Direct Bank platform. The Commercial Bank segment provides lending, leasing, capital markets, and advisory services to small and middle-market companies, private equity and venture capital firms, and innovation-sector clients in technology, life sciences, and healthcare. The Rail segment provides equipment leasing and secured financing to railroads and shippers.

First Citizens BancShares offers a comprehensive suite of financial products including deposit accounts, commercial and consumer lending, mortgage services, wealth management, investment advisory, brokerage services, and trust administration. The company operates investment subsidiaries including First Citizens Investor Services, Inc., First Citizens Asset Management, Inc., and First Citizens Capital Securities, LLC, which provide broker-dealer services, investment management, and underwriting capabilities.

The company has pursued strategic growth through acquisitions, most notably the 2023 acquisition of substantially all loans and deposits from Silicon Valley Bridge Bank, N.A. following the closure of Silicon Valley Bank, establishing a significant presence in innovation markets. In October 2025, First Citizens announced an agreement to acquire 138 branches from BMO Bank N.A., expected to close in the second half of 2026, further expanding its Midwest and Western footprint.