# First Citizens Bank

> First Citizens Bank is a Raleigh-based US bank serving individuals, businesses, commercial borrowers and wealth clients. Its combination of branch banking, specialist lending, equipment leasing and innovation banking reflects the 2022 CIT merger and 2023 purchase of Silicon Valley Bridge Bank assets and deposits. Its parent is publicly traded First Citizens BancShares, Inc.

- **Founded:** 1898
- **Headquarters:** Raleigh, United States
- **Founders:** Allen K. Smith (Founder and first president of predecessor Bank of Smithfield)
- **Products:** Personal banking, Small business banking, Commercial banking and treasury, First Citizens Innovation Banking, First Citizens Fund Banking
- **Notable:** Completed CIT merger in January 2022, adding national commercial finance and direct banking capabilities., Acquired Silicon Valley Bridge Bank loans and deposits in March 2023., Completed 138-branch BMO acquisition September 4, 2026.

## Products & services

- **Personal banking** — Checking, savings, credit cards, mortgages, consumer loans and digital banking.
- **Small business banking** — Deposits, payment services, cash management, equipment finance and SBA lending.
- **Commercial banking and treasury** — Specialized commercial credit, liquidity management, international banking and payments.
- **First Citizens Innovation Banking** — Former SVB Technology & Healthcare Banking division serving startups, investors and growth companies in the US and internationally. Brand launched October 6, 2026.
- **First Citizens Fund Banking** — Specialist credit facilities and treasury services for private equity, venture capital and private credit funds.
- **First Citizens Working Capital Finance** — Former CIT Commercial Services operations including factoring, asset-based lending and supply chain finance.
- **CIT Rail** — Leases and finances railcars and locomotives for shippers and rail operators.
- **First Citizens Wealth** — Investment advice, private banking, trust services, estate and retirement planning.

## Achievements

- Completed CIT merger in January 2022, adding national commercial finance and direct banking capabilities.
- Acquired Silicon Valley Bridge Bank loans and deposits in March 2023.
- Completed 138-branch BMO acquisition September 4, 2026.
- Parent described in September 2026 disclosures as a Fortune 500 member with more than $225 billion in assets.

## Latest updates

- **2026-10** — Launched First Citizens Innovation Banking on October 6 and introduced First Citizens Fund Banking under its commercial brand alignment.
- **2026-09** — Completed and converted 138 acquired BMO branches; assumed approximately $5 billion in deposits and $650 million in loans.
- **2026-07** — Reported second-quarter net income of $672 million, net interest income of $1.66 billion, and deposits of $173.43 billion.
- **2026-06** — Teen Cancer America announced a jointly funded expanded young-adult cancer program in Milwaukee.

## Links

- Website: https://www.firstcitizens.com/
- LinkedIn: https://www.linkedin.com/company/first-citizens-bank/
- Twitter/X: https://twitter.com/firstcitizens
- YouTube: https://www.youtube.com/channel/UCGp8w5KIoFheteqBeKaKuXw
- Facebook: https://www.facebook.com/firstcitizensbank/

---

Profile page: https://yespress.io/first-citizens-bank
Published by YesPress — https://yespress.io
Last updated: 2026-10-22