SafekipediaFirst Citizens BancShares
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First Citizens Bancshares, Inc. is a bank holding company based in Raleigh, North Carolina. It is one of the largest banks in the United States, with many branches across the country. The main bank under this company is called First Citizens Bank, and it has over 500 branches in 23 states.
Another important part of the company is Silicon Valley Bank, which has offices in 15 states. For three generations, the bank has been led by the family of Robert Powell Holding. He joined the bank in 1918 and was president from 1935 to 1957.
History
First Citizens Bank started its journey on March 1, 1898, in Smithfield as the Bank of Smithfield. Over time, it grew and changed names, becoming First Citizens Bank and Trust Company by 1929. In 1986, it became part of a larger company called First Citizens BancShares, Inc.
As of 2024, it is one of the biggest banks in the United States, with lots of money and resources. That same year, it made it onto the Fortune 500 list, showing it is doing very well. It was also named the top-performing large bank by American Banker.
Acquisitions and divestitures
| Year | Company |
|---|---|
| 1971 | The Haynes Bank of Cliffside, North Carolina |
| 1974 | The Bank of Coleridge in Ramseur, North Carolina and The Bank of Commerce in Charlotte, North Carolina |
| 1979 | Bank of Conway in Conway, North Carolina |
| 1981 | Commercial & Farmers Bank of Rural Hall, North Carolina and Commercial & Savings Bank of Boonville, North Carolina |
| 1983 | Peoples Bank of North Carolina in Madison, North Carolina |
| 1985 | First State Bank of Winterville, North Carolina, Farmers Bank of Pilot Mountain, North Carolina, and Farmers Bank of Sunbury in Sunbury, North Carolina |
| 1990 | Heritage Federal Savings and Loan Association of Monroe, North Carolina and North Carolina Savings and Loan Association of Charlotte, North Carolina |
| 1991 | Mutual Savings and Loan Association of Charlotte, North Carolina and First Federal Savings Bank of Hendersonville, North Carolina |
| 1993 | Caldwell Savings Bank of Lenoir, North Carolina, Surety Federal Savings and Loan Association, FA of Morganton, North Carolina, and Pioneer Savings Bank of Rocky Mount, North Carolina |
| 1994 | The Bank of Bladenboro in Bladenboro, North Carolina, Edgecomb Homestead Savings Bank of Tarboro, North Carolina, and First Republic Savings Bank of Roanoke Rapids, North Carolina |
| 1995 | First Investors Savings Bank of Whiteville, North Carolina and State Bank of Fayetteville, North Carolina |
| 1996 | First-Citizens Bank & Trust Company of Lawrenceville, Virginia, Peoples Savings Bank of Wilmington, North Carolina, and Summit Savings Bank of Sanford, North Carolina |
| 1997 | First Savings Bank of Rockingham County in Reidsville, North Carolina |
| 1998 | First Citizens Bank & Trust Company of White Sulphur Springs, West Virginia |
| 2003 | Avery County Bank of Newland, North Carolina |
| 2009 | U.S. Bancorp acquired the bond trustee business of First Citizens Bank |
| 2009 | Temecula Valley Bank of Temecula, California |
| 2009 | Venture Bank of Lacey, Washington |
| 2010 | Sun American Bank of Boca Raton, Florida |
| 2010 | First Regional Bank of Los Angeles, California |
| 2011 | United Western Bank of Denver, Colorado |
| 2011 | Colorado Capital Bank of Castle Rock, Colorado |
| 2011 | In-house merger with IronStone Bank |
| 2013 | 1st Financial Corp. of Hendersonville, North Carolina |
| 2014 | First Citizens Bank of South Carolina |
| 2015 | Capitol City Bank and Trust Company of Atlanta, Georgia |
| 2016 | North Milwaukee State Bank of Milwaukee |
| 2016 | Cordia Bancorp Inc. of Midlothian, Virginia |
| 2016 | First CornerStone Bank of King of Prussia, Pennsylvania |
| 2017 | Harvest Community Bank of Pennsville, New Jersey |
| 2017 | Guaranty Bank of Milwaukee, Wisconsin |
| 2018 | Palmetto Heritage Bancshares Inc. of Pawleys Island, South Carolina |
| 2019 | Biscayne Bank of Coconut Grove |
| 2019 | First South Bancorp, Inc. of Spartanburg, South Carolina |
| 2020 | Entegra Financial Corp. |
| 2020 | Community Financial Holding Company, Inc. and Gwinnett Community Bank |
| 2022 | CIT Group |
| 2023 | Silicon Valley Bank's deposits and loans following its collapse |
Related articles
This article is a child-friendly adaptation of the Wikipedia article on First Citizens BancShares, available under CC BY-SA 4.0.
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