First Citizens BancShares, Inc. (FCNCA): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind First Citizens BancShares, Inc. (FCNCA), a financial institution with over $200 billion in assets? As a top 20 U.S. financial institution and a Fortune 500™ member, First Citizens has a rich history and a diverse range of services. Keep reading to discover more about its origins, who owns it, its guiding mission, and how it generates revenue.

With roots dating back to 1898 and headquartered in Raleigh, North Carolina, First Citizens BancShares operates as the holding company for First-Citizens Bank & Trust Company. The company provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally. As of April 2025, the company has 17.48K employees.

First Citizens BancShares operates through four key segments: General Bank, Commercial Bank, Silicon Valley Bank (SVB) Commercial, and Rail. The General Bank segment offers services to individuals through branch networks, while the Commercial Bank provides lending, leasing, and other financial and advisory services to small and middle-market companies. The company's stock, traded on the NASDAQ, closed at $1,658.24 on a Friday in April 2025, which is 12.53% above its 52-week low.

First Citizens BancShares, Inc. (FCNCA) History

First Citizens BancShares, Inc. Founding Timeline

Year established

The Bank of Smithfield, the predecessor to First Citizens BancShares, was established in 1898.

Original location

The bank's original location was in Smithfield, North Carolina.

Founding team members

The founder of the Bank of Smithfield was Robert Rufus (R.R.) Broadhurst. He used $10,000 of his own money to establish the bank.

Initial capital/funding

The initial capital used to found the Bank of Smithfield was $10,000.

First Citizens BancShares, Inc. Evolution Milestones

First Citizens BancShares, Inc. Transformative Moments

• The introduction of statewide banking in 1964: This move significantly broadened the bank's reach and customer base, establishing it as a major player in North Carolina's banking sector.
• The formation of First Citizens BancShares in 1986: This strategic decision to create a holding company allowed for greater flexibility and diversification in financial services, setting the stage for future growth and expansion.
• The acquisition of Silicon Valley Bridge Bank, N.A. in 2023: This acquisition was a pivotal moment, catapulting First Citizens BancShares into the national spotlight and substantially increasing its asset size and market influence.

These transformative moments reflect First Citizens BancShares' strategic evolution, adaptability, and commitment to growth, shaping its identity and positioning it as a key player in the banking industry as of April 2025. Interested in learning more about First Citizens BancShares, Inc. (FCNCA) financial health? Check this out: Breaking Down First Citizens BancShares, Inc. (FCNCA) Financial Health: Key Insights for Investors

First Citizens BancShares, Inc. (FCNCA) Ownership Structure

First Citizens BancShares, Inc. features a mixed ownership structure, including institutional, retail, and insider holdings, influencing its corporate governance and strategic direction.

First Citizens BancShares, Inc.'s Current Status

First Citizens BancShares, Inc. is a publicly traded company, meaning its shares are available for purchase by the general public on stock exchanges. It is traded on the NASDAQ under the ticker symbol FCNCA. As a public company, First Citizens BancShares is subject to regulatory requirements, including financial reporting and disclosures, ensuring transparency for investors and the market.

First Citizens BancShares, Inc.'s Ownership Breakdown

The ownership of First Citizens BancShares is distributed among various types of shareholders. Here’s a breakdown:

First Citizens BancShares, Inc.'s Leadership

The leadership team at First Citizens BancShares plays a crucial role in guiding the company's strategic initiatives and operational execution. As of April 2025, the key figures include:

• Frank B. Holding, Jr.: Chairman and Chief Executive Officer
• Hope Holding Bryant: Vice Chairwoman
• Peter M. Bristow: President

These individuals, along with other members of the executive team, are responsible for the overall management and direction of the company, ensuring it meets its financial and strategic goals. More information about First Citizens BancShares, Inc.'s financial performance and stability can be found at: Breaking Down First Citizens BancShares, Inc. (FCNCA) Financial Health: Key Insights for Investors

First Citizens BancShares, Inc. (FCNCA) Mission and Values

First Citizens BancShares, Inc. aims to deliver long-term value to its shareholders, clients, and associates while maintaining a strong financial position and a commitment to integrity. The company's core values emphasize service, relationships, and stability, guiding its operations and interactions with stakeholders.

First Citizens BancShares, Inc.'s Core Purpose

Official mission statement

While a specific, formally published mission statement for First Citizens BancShares, Inc. is not readily available in recent search results, the company's approach to business and its stated values provide a clear understanding of its core objectives. The bank focuses on building lasting relationships with its customers, offering personalized service, and maintaining a strong, stable financial institution. This commitment is reflected in its long history and consistent performance.

• Providing financial stability and security for customers.
• Delivering personalized customer service and building long-term relationships.
• Supporting local communities through investments and services.
• Fostering a culture of integrity, respect, and employee development.

Vision statement

Similar to the mission statement, a formal vision statement isn't explicitly published. However, the vision of First Citizens BancShares, Inc. can be inferred from its strategic goals and long-term performance. The company aims to be a leading financial institution known for its exceptional customer service, financial strength, and commitment to the communities it serves.

• Expanding its reach and services while maintaining a focus on customer relationships.
• Remaining a financially strong and stable institution.
• Being recognized as a trusted financial partner in the communities it serves.
• Adapting to changing market conditions and customer needs while staying true to its core values.

Company slogan/tagline

While First Citizens BancShares, Inc. might not have a single, universally promoted slogan, they emphasize their commitment to service and long-term relationships through various marketing messages. These messages often highlight their stability, customer focus, and community involvement.

• 'Forever First.'
• 'Stability, Strength, and Service for Generations.'
• 'Building Relationships That Last.'
• 'Committed to Our Customers and Communities.'

To gain more insight into the investors and ownership of First Citizens BancShares, Inc., you might find this resource helpful: Exploring First Citizens BancShares, Inc. (FCNCA) Investor Profile: Who’s Buying and Why?

First Citizens BancShares, Inc. (FCNCA) How It Works

First Citizens BancShares operates as a financial holding company, delivering a broad spectrum of banking services to individuals, businesses, and institutions. The company functions through its subsidiaries, primarily First-Citizens Bank & Trust Company, focusing on building long-term relationships and providing tailored financial solutions.

First Citizens BancShares, Inc.'s Product/Service Portfolio

First Citizens BancShares, Inc.'s Operational Framework

First Citizens BancShares, Inc. operates with a focus on relationship banking, emphasizing personalized service and local decision-making. The bank integrates technology to enhance customer experience and operational efficiency. Key aspects of their operational framework include:

• Customer Relationship Management: Building and maintaining long-term customer relationships through personalized service and tailored financial solutions.
• Risk Management: Employing a conservative approach to risk management, ensuring financial stability and compliance with regulatory requirements.
• Branch Network and Digital Channels: Operating a network of branches complemented by online and mobile banking platforms to provide convenient access to services.
• Mergers and Acquisitions: Strategically growing through mergers and acquisitions to expand market presence and service capabilities, such as the acquisition of CIT Group in 2022.

First Citizens BancShares, Inc.'s Strategic Advantages

First Citizens BancShares, Inc. has several strategic advantages that contribute to its success:

• Strong Capital Base: Maintaining a solid capital position, which supports growth and provides a buffer against economic downturns. As of December 31, 2024, First Citizens reported total assets of $226.737 billion.
• Experienced Leadership: Benefit from a long-tenured and experienced management team focused on sustainable growth and shareholder value.
• Diversified Revenue Streams: Generating revenue from a variety of sources, including interest income, fees, and wealth management services, which reduces reliance on any single line of business.
• Community Focus: Emphasizing community involvement and local decision-making, which fosters customer loyalty and strengthens its reputation.

Learn more about the ownership and investor profile of First Citizens BancShares: Exploring First Citizens BancShares, Inc. (FCNCA) Investor Profile: Who’s Buying and Why?

First Citizens BancShares, Inc. (FCNCA) How It Makes Money

First Citizens BancShares, Inc. primarily generates revenue through traditional banking activities, including taking deposits and lending money, as well as providing wealth management and other financial services.

First Citizens BancShares, Inc.'s Revenue Breakdown

First Citizens BancShares, Inc.'s Business Economics

The bank's business economics are influenced by several key factors:

• Interest Rate Spread: A primary driver of profitability is the spread between the interest earned on loans and investments and the interest paid on deposits. Favorable interest rate environments, where lending rates are high relative to deposit rates, enhance profitability.
• Loan Portfolio Composition: The mix of loans, including commercial, consumer, and real estate loans, affects the overall yield and risk profile. Diversification across loan types can mitigate risks associated with economic downturns in specific sectors.
• Operating Efficiency: Managing operational costs is crucial. Efficiency ratios, such as the efficiency ratio (operating expenses as a percentage of revenue), indicate how well the bank controls costs relative to its income.
• Credit Quality: Maintaining high credit quality in the loan portfolio is essential. Monitoring metrics like non-performing loans as a percentage of total loans helps assess the risk of loan defaults and the need for loan loss provisions.
• Fee Income: Income from services like wealth management, investment banking, and service charges contributes to overall revenue and can provide a more stable income stream compared to interest income, which is subject to interest rate volatility.

First Citizens BancShares, Inc.'s Financial Performance

Key indicators of First Citizens BancShares, Inc.'s financial performance include:

• Net Income: The bottom-line profit after all expenses and taxes are paid. It reflects the overall profitability of the bank. In 2024, First Citizens BancShares reported a net income available to common stockholders of $1.89 billion, or $163.47 per share, compared to $855 million, or $74.06 per share in 2023.
• Earnings Per Share (EPS): EPS indicates the profitability per share of outstanding stock.
• Return on Assets (ROA): ROA measures how efficiently a bank is using its assets to generate earnings.
• Return on Equity (ROE): ROE shows how effectively a bank is using shareholders' equity to generate profit.
• Net Interest Margin (NIM): A key profitability metric, NIM represents the difference between the interest income generated from loans and investments and the interest expenses paid on deposits, relative to the bank's assets.
• Efficiency Ratio: The efficiency ratio was 52.94% for the year 2024, compared to 55.54% for the year 2023.
• Total Assets: As of December 31, 2024, total assets reached $220.74 billion, marking an increase from $219.35 billion at the close of 2023.
• Total Deposits: Total deposits amounted to $173.98 billion as of December 31, 2024, compared to $173.23 billion at the end of 2023.
• Loan Growth: The bank's loan portfolio totaled $128.4 billion as of December 31, 2024, a slight increase from $128.1 billion at the end of 2023.

To gain further insights into the company's core values, take a look at Mission Statement, Vision, & Core Values of First Citizens BancShares, Inc. (FCNCA).

First Citizens BancShares, Inc. (FCNCA) Market Position & Future Outlook

First Citizens BancShares is strategically positioned to maintain a stable market presence, leveraging its recent acquisitions and focus on organic growth to navigate the evolving financial landscape.

Competitive Landscape

Here's an overview of the competitive landscape:

Opportunities & Challenges

First Citizens BancShares faces both opportunities and risks in the current market environment:

Industry Position

First Citizens BancShares holds a significant position within the banking industry, characterized by:

• A strong regional presence, particularly in the Southeast, with a growing national footprint.
• A diversified portfolio of financial services, including commercial banking, wealth management, and mortgage services.
• A conservative approach to risk management, contributing to stability and long-term growth.

Explore more about First Citizens BancShares, Inc. (FCNCA): Exploring First Citizens BancShares, Inc. (FCNCA) Investor Profile: Who’s Buying and Why?