First Citizens Bank

What First Citizens Bank does

First Citizens BancShares, Inc. is the holding company for First-Citizens Bank & Trust Company, a top 20 U.S. financial institution headquartered in Raleigh, North Carolina, with over $225 billion in assets, $170.84 billion in deposits, and approximately $14.51 billion in annual revenue as of 2025. Founded in 1898 and family-led under Chairman and CEO Frank B. Holding Jr., the bank operates four core segments: personal banking, small business banking, commercial and middle-market banking, and wealth management (First Citizens Wealth), supplemented by First Citizens Innovation Banking (the former Silicon Valley Bank, being rebranded in Q4 2026) and First Citizens Fund Banking.

The bank generates revenue primarily through net interest income from lending (commercial loans, asset-based lending, sponsor finance, equipment finance, mortgages) and securities, with a Q1 2026 net interest margin of 3.09%, supplemented by non-interest income from wealth management, treasury management, capital markets, and merchant services. The product platform spans deposit accounts, credit cards, mortgages, treasury management (Positive Pay, ACH blocks/filters), equipment finance, sponsor finance, capital markets, international banking (letters of credit, FX, wire transfers), and insurance. Underlying technology includes AI/ML-driven fraud detection with behavioral analytics and real-time transaction monitoring, digital and mobile banking platforms with integrations to Zelle, QuickBooks, Worldpay, and FXEnvoy, and the Commercial Advantage online banking portal.

The go-to-market model combines a physical branch network across the Southeast, Midwest, West, Great Plains, and Northeast with dedicated commercial relationship managers serving healthcare, technology, agribusiness, cannabis, energy, manufacturing, maritime, and other industry verticals. The bank pursues growth through both organic channel expansion (Dallas-Fort Worth, Boston, New York, Florida) and M&A — having completed the 2022 merger with CIT Group Inc., the 2023 acquisition of Silicon Valley Bank, the February 2026 merger with Park National Corporation, and the pending 2026 acquisition of 138 BMO Bank branches across 11 states. Distribution is supported by a content marketing engine (205+ articles on the bank insights site), social media presence, and a corporate newsroom, while partnership channels include co-lending syndicates with MUFG, ING, HSBC, Apollo, and Sixth Street.

Name

First Citizens Bank

Legal name

First-Citizens Bank & Trust Company

Website

https://firstcitizens.com

Company type

Public

Founded year

1898

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

First Citizens Bank is a top 20 U.S. financial institution with over $225 billion in assets, offering personal, small business, commercial, wealth management, and innovation-economy banking services to consumers, middle-market companies, and technology firms across more than a dozen U.S. states.

Ownership category

akta.pro rank

Product category

Retail and Commercial Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI), Bank-Affiliated Retail Wealth Management (FSAAAAAB), Branch & In-Person Banking (Teller/ATM Networks) (FSABAAAE)

Keywords

• Retail banking services
• Commercial lending
• Wealth management
• Middle market banking
• Innovation banking

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest income from loans and securities minus interest paid on deposits, representing the core banking revenue stream. The bank reported Q1 2026 net interest margin of 3.09%, with deposits growing 5.7% to $170.84 billion.
2. Non-Interest Income: Fees from wealth management, commercial banking services, treasury management, and other banking services. The bank operates First Citizens Wealth division providing investment advisory, trust services, and private banking.
3. Commercial Lending: Loans and credit facilities to commercial clients including middle market companies, sponsor finance, asset-based lending, and industry-specific financing solutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels4 records

Core offering

First Citizens Bank provides a full range of banking products and services spanning personal retail banking (checking, savings, credit cards, mortgages, personal loans), small business banking (cash management, lending, merchant services, SBA loans), commercial and middle-market banking (asset-based lending, equipment finance, sponsor finance, capital markets, international banking, treasury management), wealth management (investment advisory, trust, private banking), and innovation banking for technology and venture capital clients (through the former Silicon Valley Bank division). It serves consumers and businesses across the United States through a physical branch network, digital banking platforms, and dedicated relationship managers.

Product overview

First Citizens Bank is a top 20 U.S. financial institution offering a comprehensive banking platform with personal, commercial, and wealth management divisions. The core platform includes Digital Banking (online/mobile), Commercial Advantage (commercial online banking), and First Citizens Wealth (investment and advisory services). The bank operates several specialized sub-brands including First Citizens Innovation Banking (formerly Silicon Valley Bank, serving the innovation/startup economy) and First Citizens Fund Banking (formerly SVB Global Fund Banking, serving venture capital and private equity funds). The product suite spans deposit accounts, credit cards, mortgages, commercial lending, treasury management with fraud prevention tools (Positive Pay, ACH filters), equipment finance, capital markets, international banking, and insurance. Recent acquisitions (CIT Group 2022, Silicon Valley Bank 2023) expanded capabilities in commercial lending, equipment finance, and innovation-focused banking.

Differentiator

Problem solved

Functional benefit

Brands

• Silicon Valley Bank (SVB): Division of First Citizens Bank serving technology, healthcare, and innovation economy clients through venture capital, growth equity, and corporate banking services. Being rebranded as First Citizens Innovation Banking in Q4 2026.
• CIT Bank
• First Citizens Wealth
• First Citizens Innovation Banking

Products and services

• Personal Checking Accounts Personal checking account products including Primary Checking, Premier Checking, and Prestige Checking tiers for individual consumers.
• Personal Savings Products Personal savings offerings including Certificates of Deposit (5-month CD at 4% APY promoted), Money Market Accounts, and Online Savings Accounts.
• Personal Credit Cards Consumer credit card products including Cash Rewards, Rewards, Secured Cash Back, Smart Option (low-interest), and Travel Rewards cards.
• Mortgages Home lending products including Fixed-Rate Mortgages, Adjustable-Rate Mortgages, Jumbo Loans, Home Construction Loans, Renovation Loans, Mortgage Refinancing, Medical Professional Mortgages, and VA, FHA and USDA government-backed loans.
• Personal Loans Personal lending products including Auto Loans, Home Equity loans, Home Improvement Loans, and Specialized Lending for individual consumers.
• Retirement Accounts Retirement account products including Traditional IRA, Roth IRA, SEP IRA, and SIMPLE IRA for individual retirement savings.
• Personal Investments Investment offerings for individuals including Self-Directed Investing, Guided Investing, and Education Savings Accounts.
• Personal Insurance Personal insurance products including Accident Insurance, Life Insurance, Pet Insurance, Property Insurance, Umbrella Insurance Policy, and Vehicle Insurance.
• Digital Banking Digital banking platform providing online and mobile access to checking, savings, credit cards, loans, and account management with real-time controls, expense tracking, and budget building tools.
• Premier Banking Premier Banking services for higher-net-worth individuals, providing personalized banking, dedicated relationship managers, and elevated product offerings.
• First Citizens Wealth Wealth management division offering investment advisory, trust and fiduciary services, private banking, institutional asset management, and insurance through First Citizens Investor Services, First Citizens Asset Management, and SVB Wealth LLC.
• Small Business Banking Small business banking services including cash management (payables, receivables, liquidity management, reconciliation and reporting, fraud prevention, ACH services, merchant services), business deposits (checking, savings, Bank at Work Program), risk management, and credit and financing solutions (SBA Term Loans, USDA Business Loans, business credit cards, equipment financing, business loans).
• Small Business Insurance Business insurance products including Auto Insurance, Bonds and Surety, Buy-Sell Agreement, Business Interruption, Cyber Insurance, Liability Insurance, Life and Disability Insurance, Management Liability, Property Insurance, Succession Planning, Umbrella Insurance, and Workers' Compensation.
• International Banking Services International banking services for small businesses including Commercial Letters of Credit, Foreign Currency Exchange Services, International Paying & Receiving, Documentary Collections, International Wire Transfers, and Standby Letters of Credit.
• Commercial Advantage Online banking platform for commercial clients providing cash management, treasury services, payment processing, and account administration tools.
• Treasury Management Services Commercial banking solutions including fraud prevention tools (Positive Pay, ACH blocks/filters), cash flow management, receivables/payables processing, and liquidity management for commercial clients.
• Asset-Based Lending Financing solutions secured by collateral such as inventory, receivables, and equipment for businesses with complex borrowing needs.
• Equipment Finance Financing and leasing solutions for business equipment including machinery, vehicles, and technology through vendor programs and direct lending.
• Capital Markets Investment banking and capital markets services including debt and equity underwriting, M&A advisory, and securities offerings for corporate clients.
• Commercial International Banking Foreign exchange services, commercial letters of credit, documentary collections, international wire transfers, and standby letters of credit for businesses with global operations.
• Sponsor Finance Financing solutions for private equity sponsors and their portfolio companies, including leveraged buyouts and recapitalizations.
• Middle Market Banking Banking services for mid-sized businesses with revenues typically above $75 million, offering relationship banking, credit facilities, and treasury solutions.
• First Citizens Innovation Banking (formerly SVB) Specialized banking division serving the innovation economy, technology companies, startups, and venture capital firms; formerly Silicon Valley Bank, to be rebranded in Q4 2026.
• First Citizens Fund Banking (formerly SVB Global Fund Banking) Banking services for private equity and venture capital fund clients, providing fund administration support and investment banking services; to be rebranded Q4 2026.
• CIT Commercial Services Commercial banking services acquired through the CIT Group merger, providing lending, equipment finance, and trade finance solutions for middle market companies.
• Servicing & Collections Platform New Servicing & Collections platform for the Equipment Finance division designed to simplify processes, reduce risk, and deliver stronger customer outcomes.

Quantifiable outcome

• Q1 2026 net income of $534 million
• +3 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability4 records

Feature4 records

Partnerships

One partnership is on record.

• Corgi InsurancecoreStrategic or Co-development Partner · 17 June 2026Partnership between Silicon Valley Bank (a division of First Citizens) and Corgi Insurance to provide AI-native risk management solutions and digital insurance products to SVB's innovation-focused clients including startups and growth-stage companies in SaaS, AI, and healthcare sectors. The collaboration offers faster, tailored underwriting and simplified application processes.

Scale indicators9 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Huntington Bancshares: Huntington is a Midwest regional bank with comparable commercial, middle market, and consumer banking operations, including specialty business banking and treasury management comparable to First Citizens' offerings.
• M&T Bank Corporation: M&T is a regional commercial bank with comparable commercial, middle market, and consumer banking operations, especially in the Northeast and Mid-Atlantic where First Citizens is expanding.
• Fifth Third Bank: Fifth Third is a Midwest-based regional bank with similar commercial, middle market, treasury management, and consumer banking operations, providing a close comparable in product breadth and target market.
• Truist Financial Corporation: Truist is a top-10 U.S. regional bank formed through the BB&T-SunTrust merger with comparable retail, commercial, middle market, and wealth management operations across the Southeast and beyond. Direct comparable in scale, geography, and product mix.
• Citizens Financial Group: Citizens is a U.S. regional bank with comparable middle market, commercial banking, wealth management, and consumer banking services, with significant East Coast and national commercial banking operations.
• Regions Financial Corporation: Regions is a Southeast-headquartered regional bank with comparable commercial, middle market, consumer, and wealth management operations, often competing for the same middle market and small business customers as First Citizens.
• PNC Financial Services: PNC is a top-10 U.S. regional bank with comparable commercial, middle market, and retail banking operations, including strong corporate and institutional banking and treasury management offerings. Similar asset size and customer segments.
• KeyCorp: KeyCorp is a commercial and retail regional bank with substantial middle market, commercial banking, and wealth management operations, similar in asset size and product mix to First Citizens.

Broad incumbents

• Bank of America Corporation: Bank of America is a major national bank with overlapping retail, commercial, middle market, and wealth management operations. While far larger, it competes head-to-head for the same middle market and commercial banking customers First Citizens targets.
• U.S. Bancorp: U.S. Bancorp is a top-10 U.S. bank with comparable commercial, middle market, payments, and wealth management operations, providing a broader-incumbent comparison point for First Citizens' full-service platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/firstcitizens
• YouTubeyoutube.com/channel/UCGp8w5KIoFheteqBeKaKuXw
• Facebookfacebook.com/firstcitizensbank
• LinkedInlinkedin.com/company/first-citizens-bank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles29 records

Subsidiaries4 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments53 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Citizens Bank