FIRST CITIZENS BANCSHARES INC /DE/

Overview

First Citizens BancShares, Inc. is a Delaware-incorporated financial holding company headquartered in Raleigh, North Carolina. Through First Citizens Bank, it provides consumer and commercial banking services, including deposits, loans, wealth management, private banking, commercial lending and leasing. Its businesses also include capital markets services, a nationwide digital bank and rail-equipment leasing. The bank traces its origins to the Bank of Smithfield, founded in North Carolina in 1898.[1]+2

The company’s branches and offices are concentrated across the Southeast, Mid-Atlantic, Midwest and Western United States, while its digital banking services reach customers nationwide. It describes its purpose in terms of serving clients’ and communities’ financial needs through specialized support and service. As a measure of scale, BancShares reported approximately $9.5 billion in total revenue for 2025, and the bank describes its workforce as more than 16,000 colleagues nationwide.[4]+3 [1]+5

Products & services

First Citizens BancShares offers consumer and business deposit accounts, business and commercial loans, residential mortgages, private banking, and wealth management through branches and digital channels. Its wealth services include brokerage, investment advice, trust services, annuities and third-party mutual funds. It also provides deposit, cash-management and lending solutions for homeowner associations and property-management companies.[3][7]

For commercial clients, the company offers lending, leasing, capital-markital and advisory services, alongside commercial deposits, liquidity management and international products. Specialized financing includes asset-based lending, factoring, receivables management and secured financing. Its Silicon Valley Bank division serves clients in the innovation economy, while its Rail business leases equipment and provides secured financing to railroads and shippers. The company also operates Direct Bank, a nationwide digital bank.[3][8] [3]+2

Geographic presence

First Citizens BancShares is headquartered in Raleigh, North Carolina. Its banking subsidiary, First-Citizens Bank & Trust Company, had more than 500 domestic branches and offices at year-end 2025, including 209 in North Carolina, 119 in South Carolina and 72 in California. Its branch network spans 23 states, from the Southeast to the West Coast.[9]+2

Its commercial lending footprint extends beyond its largest branch markets. At year-end 2025, approximately 97.5% of commercial loans and leases were attributed to the United States; California accounted for $26.1 billion, New York $12.2 billion and North Carolina $11.0 billion. Loan geography is determined by real-estate collateral location for certain mortgage loans and by obligor address for other commercial loans.[12][13] [9]+4

Business segments

First Citizens BancShares reports three business segments: General Bank, Commercial Bank and Rail. General Bank provides branch and digital banking for individuals and businesses, including deposits, lending, wealth management and private banking. It generated approximately 42% of consolidated revenue in 2025. Commercial Bank provides lending, leasing, capital markets and related services to businesses, including clients in technology, life sciences and other innovation markets. It generated approximately 45% of consolidated revenue. Activities previously reported as a separate SVB Commercial segment are now included in Commercial Bank.[14]+3

Rail leases equipment and provides secured financing to railroads and shippers; it contributed approximately 7% of consolidated revenue in 2025. The remaining approximately 6% was reported in Corporate, which is not a reportable business segment. These percentages use consolidated revenue as the denominator.[16][6] [14]+7

Company history

First Citizens traces its roots to the Bank of Smithfield, founded in North Carolina in 1898. R.P. Holding became the bank’s president and chairman in 1935, beginning a period of leadership by the Holding family. First Citizens BancShares, Inc. was incorporated in Delaware in 1986 as the bank’s holding company.[17][18]

The company expanded through acquisitions, including purchases of assets and deposits from failed banks in 2009 and 2010. It merged with South Carolina-based First Citizens Bancorporation in 2014, followed by the combination of their bank subsidiaries in 2015. Larger transactions followed: BancShares completed its merger with CIT Group in 2022, and its bank acquired substantially all loans and certain other assets, and assumed deposits and certain liabilities, of Silicon Valley Bridge Bank in an FDIC-assisted transaction in 2023.[18]+2 [17]+3

Sources

• FIRST CITIZENS BANCSHARES INC /DE/ — Full financial report (2025 Y)
  14 citations

  [1][2][3][4][6][7][8][9][10][11][12][14][15][16]
• www.firstcitizens.com[5]
• www.sec.gov[13]
• www.firstcitizens.com[17]
• www.sec.gov[18]
• www.sec.gov[19]
• www.sec.gov[20]