Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. What happens to my FDIC coverage if I have accounts at CIT or OneWest as well as First Citizens? 2023 First-Citizens Bank & Trust Company. International Plant Biotechnology Outreach (IPBO) The Open Doors Fellowship Program (ODFP) is now open for women researchers in Africa, a holistic p If you have questions about your FDIC insurance, call the FDIC at 877-ASK-FDIC, or refer to the FDIC website for additional details. First Citizens Bank brings together personal service and powerful tools to help customers do more with their money and make more of their future. DEAL STATS. As the largest family-controlled bank in the U.S., First Citizens is continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. The words "expect," "anticipate," "intend," "plan," "believe," "seek" and "estimate," and similar expressions, are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking. Forward-looking statements include statements about the benefits to First Citizens of the merger withCIT(collectively, the "Merger"), and First Citizens' future financial and operating results, plans, objectives and intentions. About First Citizens Bank on Customer Service Open an Account Today Open an Account See all we have to offer. The Fed said the extension is meant to give interested parties more time to comment "in light of the ongoing challenges from the coronavirus.". "For First Citizens customers, everything they count on us for will stay the same: same service, same values, same commitment to helping them do more with their money. As the largest family-controlled bank in the United States, First Citizens Bank is continuing a unique legacy of strength, stability and long-term thinking that has spanned generations.. Citizens M&A Advisory served as the exclusive financial advisor to The Acacia Group, an independent sponsor specializing in digital transformation, on its acquisition of Isos Technology, an award-winning Atlassian Platinum and Enterprise Solution Partner with customers across the public and private sectors. KA Real Estate manages, (as of 10/31/2022) across opportunistic equity, core equity and real estate debt. As a result of the merger, CIT's and CIT Bank's outstanding senior unsecured debt and subordinated debt have been assumed by First Citizens Bank. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. You are using an outdated browser. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. 919-716-2137. UPDATE: Feb. 1, 2021:The Federal Deposit Insurance Corp. (FDIC) on Friday reopened and extended through Feb. 22 its public comment period concerning First Citizens BancShares' proposed merger with CIT Group. In its earnings release, the bank said it remains confident in its ability to execute on its previously communicated $250 million in total cost savings by the end of 2023.. in commercial banking, citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. First Citizens Bank. Shares of First Citizens are surging 12% on Friday, pushing the firm's market cap to roughly $3.8 billion, though they're still down about 27% for the year; the S&P 500 Banks Industry Group. CIT Bank is now a division of First Citizens Bank. CIT Group's CIT Bank,. Share by email icon, clcik here to share current page content by email. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. As of the firm's latest proxy filing, the Holding family retains a majority of voting power over First Citizens, and Christopher Marinac, director of research for Janney Montgomery Scott, reportedly estimates the family will have about 32% of the combined company's shares. Current CEO Holding Jr. was elected chairman in 2009 amid the Great Recession and, with the help of sister and Vice Chair Hope Holding Bryant, grew First Citizens through serial acquisition of failed bank assets. If you decide to make any adjustments that may suit your company better, your Relationship Manager will be happy to help. Select if this is your first time logging in to digital banking, We'll work closely with you to ensure continued access to all the treasury management services you depend on, and offer new tools to improve your day-to-day banking, By significantly increasing our financial resources, we can offer more opportunities to help you grow, Count on us for attentive personal service, a commitment to your long-term financial health and customized commercial banking solutions to meet your needs, Provide more comprehensive, more timely reporting, Collect outstanding invoices more efficiently. News releases on this website are for archival purposes. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens. Select if this is your first time logging in to digital banking, Enjoy greater banking convenience from any location and an even larger network of First Citizens branches across 19 states coast to coast, Count on a wider network of specialists in specific industries and financial disciplines who can deliver custom strategies for growing your business or managing your personal assets, Our commercial banking enhancements will bring a wide array of best-in-class lending, leasing and banking services to middle-market companies and small businesses. 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The all-stock transaction will create. Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. The merger is expected to close in the first half of 2021, pending receipt of regulatory and stockholder approvals. Except to the extent required by applicable law or regulation, First Citizens disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. First Citizens Bank is positioned to be a one-stop financial services destination for customers across the country, providing a full suite of retail, business, commercial and wealth products and services. You can begin to use your new network of more than 550 branches in 22 states. In addition to this conversion of CIT Bank branches, First Citizens completed the transition of its OneWest Bank division to its operations and systems in July 2022. Your company's online administrators should have received a mail package from us with all the necessary details, including key to-do items before and after your transition. Get important transition details to help you take full advantage of the tools and resources available with your treasury management services. | December 30, 2022 Under the transaction terms, First Citizens shareholders own about 61 percent of the combined company, with CIT Group (NYSE: CIT) owning 39 percent. Isos forms the cornerstone of Acacia's. However, they may become outdated over time, and should not be relied on as correct after their issue date. Harney previously served as executive vice president and chief credit officer withCIT. Industry specialists bring a depth of expertise that helps businesses and individuals meet their specific goals at every stage of their financial journey. . The larger metropolitan areas that we serve probably have a more robust growth in some of the more suburban or rural areas, but we don't see any weakness.. Raleigh's First Citizens Bank to merge with CIT Group (Triangle Business Journal), This is a BETA experience. KA Real Estate is part of Kayne Anderson Capital Advisors, L.P., a $34 billion alternative investment management firm with more than 38 years of successful experience in the real estate, infrastructure, credit, and growth capital sectors. The bank previously announced a community benefits plan to reinvest $16 billion to serve low- and moderate-income (LMI) communities and borrowers through 2025. The merger is highly synergistic - combining a retail and . The board now consists of 11 current First Citizens directors and three former CIT board members Alemany, Michael A. Carpenter and Vice Admiral John R. Ryan, USN (Ret.). NEW YORK, Feb. 24, 2022 / PRNewswire / -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $51 million in financing for the acquisition of the Oceana Apartments in Avondale, Arizona. "This is our second large bank branch conversion this year related to theCITmerger, and it represents another significant achievement in our progress," said Frank B. Chairman and CEO Frank B. Our news releases are believed to be accurate as of the date they are issued. First Citizens said its total loans were $65.5 billion, an increase of $33.2 billion during the quarter, due largely to the acquisition. Search by city and state or ZIP code. Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank also operates a nationwide direct bank and a network of more than 600 branches in 22 states, many in high-growth markets. "It brings together two companies with deep traditions of service and excellence. CIT Group is a highly respected financial services company that provides an array of sophisticated financial tools, including treasury management, loans and specialized leasing, as well as advisory services to middle-market companies and small businesses nationwide. Ellen R. Alemany, former chairwoman and chief executive officer of CIT, assumes the role of vice chairwoman of First Citizens (along with current First Citizens Vice Chairwoman Hope Holding Bryant) and will serve on the First Citizens Board of Directors. When First Citizens BancShares (ticker: FCNCA) announced that it would buy CIT Group (CIT) for $2.2 billion in October of last year, it seemed like a run-of-the-mill acquisition. to create an institution with more than $100 billion . Cision Distribution 888-776-0942 City, State/Province, Zip or City & Country Submit a search. Please upgrade your browser to use this site. We look forward to bringing you even more products and services, more locations, and more opportunities to help you manage your finances or build your business. is a division of First Citizens Bank, the largest family-controlled bank in, ) is a top 20 U.S. financial institution with more than, Anderson Real Estate ("KA Real Estate") is a leading real estate private equity investor in medical office, seniors housing, off-campus student housing, multifamily housing and self-storage. "This is a transformational milestone in our 124-year history," said Frank B. Application by First Citizens BancShares, Inc. to Acquire Merger A. by CIT Group, Inc. and CIT Bank, N.A. CIT, meanwhile, bought the $23 billion-asset OneWest Bank in Pasadena, Calif., in 2015 and earlier this year acquired the $8.3 billion-asset Mutual of Omaha Bank. This transaction will build on those efforts and more fully unlock the potential in our core franchises. You may opt-out by. All forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements to differ materially from any results, performance, or achievements expressed or implied by such forward-looking statements, including, among others, (1) disruption from the Merger, or recently completed mergers, with customer, supplier or employee relationships, (2) the possibility that the amount of the costs, fees, expenses and charges related to the Merger may be greater than anticipated, including as a result of unexpected or unknown factors, events or liabilities, (3) reputational risk and the reaction of the parties' customers to the Merger, (4) the risk that the cost savings and any revenue synergies from the Merger may not be realized or take longer than anticipated to be realized, (5) general competitive, economic, political and market conditions, and (6)difficulties experienced in the integration of the businesses. During the conversion process, First Citizens Digital Banking was temporarily unavailable. CEO Nihin Mhatre said the bank is in a "very, very good spot" as his transformation of the company proceeds. As the largest family-controlled bank in the U.S., First Citizens is continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. The two companies announced the $2.2 billion deal in October 2020 and had planned to complete it by Oct. 15 of last year. The first section examines the lives directly, . Completion of the merger is a testament to the many associates on our teams who have worked so diligently to get us here.". Item 2.01. "We appreciate working with the knowledgeable and efficient team at CIT Healthcare Finance to arrange financing for our acquisition of this valuable portfolio. NEW YORK, Jan. 18, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, served as sole lead arranger on $44.2 million in debt . Share by email icon, clcik here to share current page content by email. First Citizens Bank Completes Operational Conversion of CIT Bank Division Branches. CITBank previously operated as a division ofCIT, which merged with and became a division of First Citizens Bank in January 2022. First Citizens is continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. Web Address: firstcitizens.com Headquarters: 239 Fayetteville Street, Raleigh, North Carolina 27601 FIRST CITIZENS BANK INFORMATION First Citizens Bank was founded in January 1898 and is based in Raleigh, North Carolina. First Citizens BancShares Inc. announced completion of its previously announced merger with CIT Group Inc. "This is a transformational milestone in our 124-year history," said Frank B. For now, they will be served through their current branches, websites, mobile apps, bankers and advisors. In the long term, all our customers will get even more services, more ways to manage their money and more places to find us.". We have lots of experience helping large companies expand, mitigate risks, plan for the future and navigate uncertainty. Shares have nearly tripled since, even despite the pandemic's toll on the banking industry. NEW YORK, Feb. 23, 2022 / PRNewswire / -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance division provided more than $44 million toward the financing of medical office buildings and facilities in Florida, Washington, and Arizona. RALEIGH, N.C., Jan. 4, 2022 /PRNewswire/ -- First Citizens BancShares Inc. (NASDAQ: FCNCA) ("First Citizens"), parent company of First-Citizens Bank & Trust Company ("First Citizens Bank"), today announced completion of its previously announced merger with CIT Group Inc. ("CIT"). First Citizens Completes Merger With CIT Group. We arranged for the automatic transfer of many of your wire templates, ACH templates, permission settings and other personalized data. For now, they will be served through their current branches, websites, mobile apps, bankers and advisors. Visit firstcitizens.com. CIT Group, Inc. recently merged with First Citizens Bank creating the 17 th largest bank in the United States with over $100B in assets. Oceana Apartments, which was acquired by 29 th Street Capital, consists of 240 one-bedroom, two-bedroom and . Operating together as First Citizens, we're now the largest family-controlled bank in the nation. First Citizens is continuing a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens reported first-quarter net income of $264 million, or $16.70 per share, up from $142 million, or $14.53 per share, a year earlier. Parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $100 billion in assets. We're not just creating a bigger bank we're creating an even better bank one that helps more people in more places and strengthens the communities we serve. Welcome to the First Citizens Bank family! In addition, Marisa J. Harney is now a member of the First Citizens executive leadership team and assumes the role of chief credit officer. About Remedy Medical Properties NEW YORK, Dec. 14, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Financebusiness provided $27.8 million to a joint venture between Kayne Anderson Real Estate and Remedy Medical Properties for the acquisition of a surgical hospital and medical office building portfolio located in Wichita, Kansas. Cautionary Notes Regarding Forward-Looking StatementsCertain of the statements made in this Press Release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. First Citizens (ticker:. First Citizens BancShares Inc. agreed to buy CIT Group Inc. in a deal valued at more than $2 billion, this year's second-biggest regional bank merger. 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