How Does First Citizens Bank (NC) Company Work?

The bank offers a wide array of deposit accounts, including savings, money market, and checking options. It also provides various loan types, such as commercial, business, residential mortgage, and equipment finance, catering to diverse financial needs.

First Citizens Bank serves its customers through a robust multi-channel approach. This includes a physical branch network exceeding 500 locations across 30 states and a nationwide direct banking presence.

Significant acquisitions have shaped First Citizens Bank's operational framework. The integration of CIT Group in October 2020 bolstered its commercial banking capabilities, while the March 2023 acquisition of Silicon Valley Bank expanded its reach into tech, media, telecom, healthcare, and global fund banking.

The bank's unique value proposition lies in its blend of community banking values with strategic expansion. This allows for personalized service alongside economies of scale, offering tailored financial solutions and industry-specific expertise to clients.

The acquisition of CIT Group in October 2020 was a pivotal moment, effectively doubling the bank's size and enhancing its commercial banking and leasing operations. This was followed by the March 2023 acquisition of Silicon Valley Bank, which nearly doubled tangible assets again and propelled the institution into the top 20 U.S. financial firms.

The SVB acquisition included FDIC loss share coverage, mitigating risks associated with legacy SVB clients. As of March 31, 2024, this integration encompassed approximately $55 billion in loans and $38 billion in deposits, demonstrating the scale of the integration. Deposit outflows initially observed post-acquisition have since stabilized, with the bank adjusting deposit fund thresholds to reflect growing confidence.

First Citizens Bank's competitive edge is rooted in its 125-year legacy of stability and a long-term perspective, distinguishing it as the nation's largest family-controlled bank. Its diversified business model, encompassing general and commercial banking, innovation banking, wealth management, and a direct banking channel, provides broad market reach and resilience.

The bank's robust capital and liquidity positions are underscored by a Common Equity Tier 1 (CET1) ratio of 12.12% as of June 30, 2025. This financial strength supports ongoing strategic investments and capital returns, evidenced by a new $4 billion share repurchase plan announced in July 2025. The termination of the FDIC loss share agreement in Q1 2025 further signals confidence in the acquired portfolio's quality.

First Citizens Bank holds a strong position as a top 20 U.S. financial institution, with assets exceeding $200 billion. Its extensive network of over 500 branches across 30 states contributes to its market share and customer loyalty, reflecting a well-established First Citizens Bank business model.

In Q2 2025, the bank reported a net income of $575 million and earnings per share of $42.36. While overall revenue saw a slight year-over-year decline, these figures underscore the bank's operational resilience.

Macroeconomic factors, including interest rate fluctuations and geopolitical uncertainties, present ongoing challenges. The bank also faces intense competition in both loan and deposit markets, with management noting that 'competition for new business remains fierce and loan originations have been muted the past 2 quarters.'

The bank is committed to expanding profitability through technological investments and enhanced risk management. Plans include optimizing its balance sheet and improving operational efficiency to support long-term growth, building on its robust liquidity.