Who Owns First Citizens Bank?
First Citizens Bank is the banking brand of First Citizens BancShares, Inc. (Nasdaq: FCNCA), a bank holding company headquartered in Raleigh, North Carolina. The brand covers retail and commercial banking across the Southeast plus the Silicon Valley Bank innovation franchise acquired in 2023, a business generating approximately $15 billion in fiscal year 2025.
Parent Company
Founded
1898
Status
Publicly Traded
Headquarters
United StatesOfficial Website
Who Owns First Citizens Bank?
- Parent Company: First Citizens BancShares, Inc.
- Ownership Type: Brand division
- Company Type: Publicly Traded
- Stock Ticker: Nasdaq: FCNCA
| Brand | Parent Company | Ownership Type |
|---|---|---|
| First Citizens Bank | First Citizens BancShares, Inc. | Brand division |
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History of First Citizens Bank
- Founded: 1898
- Founders: Smithfield, North Carolina banking founders
The Bank of Smithfield opened in Smithfield, North Carolina in 1898 under the Holding family's predecessors, growing for over a century as a conservative southeastern lender.
The modern growth story is FDIC deal-making: the bank built a specialty in acquiring failed institutions in FDIC auctions through the financial crisis era, adding assets at favorable terms dozens of times.
The 2022 CIT Group acquisition added commercial scale, and the March 2023 Silicon Valley Bank acquisition transformed it: buying the failed tech bank's deposits and loans roughly doubled assets to about $215 billion and created the innovation banking franchise it now operates alongside the traditional brand.
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About First Citizens BancShares, Inc.
What does First Citizens own?
The company owns First Citizens Bank & Trust, the Silicon Valley Bank operations it acquired, CIT commercial lending businesses, and its southeastern branch network.
Is First Citizens publicly traded?
Yes. It trades on the Nasdaq under tickers FCNCA and FCNCB, with the Holding family controlling voting power through Class B shares.
Who founded First Citizens?
The Bank of Smithfield was founded in 1898 in Smithfield, North Carolina. The Holding family has led it for four generations.
Where is First Citizens headquartered?
The company is headquartered in Raleigh, North Carolina.
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Did First Citizens buy Silicon Valley Bank?
Yes. It acquired SVB's deposits and loans from the FDIC in March 2023 after the bank's collapse, roughly doubling its assets.
Who owns First Citizens?
Public shareholders own economic interests, but the Holding family controls voting through dual-class shares. Frank B. Holding Jr. is chairman and CEO.
How big is First Citizens?
Approximately $215 billion in assets and $15 billion in annual revenue, making it a top-20 US bank.
- Founded: 1898
- Headquarters: Raleigh, North Carolina, USA
- Company Type: Publicly Traded
- Stock: Nasdaq: FCNCA
- Revenue: Approximately $15 billion (FY2025)
- Employees: Approximately 17,000
Where Is First Citizens Bank Made / Based?
- Headquarters: Raleigh, North Carolina, USA
First Citizens Bank Categories & Tags
First Citizens Bank Recalls & Controversies
SVB deal terms: The acquisition's favorable terms drew scrutiny over FDIC pricing of the failed bank, though the deal itself was broadly praised as stabilizing.
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Deposit concentration: Inheriting SVB's tech-heavy deposit base carries flight-risk dynamics similar to what caused the original failure.
Family control: The dual-class structure concentrates voting with the Holding family, limiting shareholder influence.
First Citizens Bank Ownership: Pros & Cons
Advantages
- +SVB franchise provides unique innovation banking position
- +Proven FDIC acquisition and integration record
- +Conservative 127-year management history
- +Top-20 scale with southeastern stability
Considerations
- -Concentrated deposit base carries flight risk
- -Commercial lending faces credit cycle exposure
- -Dual-class structure limits shareholder power
- -Venture banking headwinds post-collapse
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Frequently Asked Questions About First Citizens Bank
Sources & Further Reading
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Competitors to First Citizens Bank
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Pnc | USA | 1852 | Market leader | United states | All-ages | |
| Charles Schwab | USA | 1971 | Mass market | United states | All Genders | |
| Citi | USA | 1812 | Mass market | United states | All Genders | |
| Truist Financial | USA | 2019 | Mass market | United states | All Genders |
Learn More About Competitors
Finance FintechPNC Bank
Owned by The PNC Financial Services Group, Inc.
Consumer and commercial banking brand of The PNC Financial Services Group, operating a national branch network and digital platform across the United States.
bankingretail-bankingcommercial-banking
Finance FintechCharles Schwab
Owned by The Charles Schwab Corporation
American brokerage and wealth management brand serving 38.5 million active accounts and $11.90 trillion in client assets, flagship of The Charles Schwab Corporation.
brokerageinvestingwealth-management
Finance FintechCitibank
Owned by Citigroup Inc.
American consumer banking brand providing retail banking, credit cards, mortgages, and wealth management services through Citigroup.
bankingconsumer-bankingcredit-cards
Finance FintechTruist
Owned by Truist Financial Corporation
American banking brand launched in 2019 for the BB&T and SunTrust merger, serving millions of clients through roughly 1,900 branches.
bankingretail-bankingfinancial-services
Competitive Analysis
Market Positioning: First Citizens Bank competes with 4 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to First Citizens Bank
Looking for brands with different ownership structures? These similar brands are not owned by First Citizens BancShares, Inc., giving you alternative choices that support different corporate structures.
Finance FintechTD Bank
Owned by TD Bank, N.A.
TD Bank is the U.S. retail banking brand of Toronto-Dominion Bank, operating about 1,100 East Coast branches as "America's Most Convenient Bank" under a federal asset cap since 2024.
bankingretail-bankfinancial-services
Privately Owned
TD Bank is privately owned, unlike First Citizens Bank which is under a publicly traded parent company.
Finance FintechTrove
Owned by Trove FS, LLC
Independent fee-only multi-family office serving ultra-high-net-worth families, headquartered in Stamford, Connecticut and rebranded from Maestro in 2023.
family-officewealth-managementuhnw
Privately Owned
Trove is privately owned, unlike First Citizens Bank which is under a publicly traded parent company.
Finance FintechBarings
Owned by Massachusetts Mutual Life Insurance Company (MassMutual)
Global asset management firm headquartered in Charlotte, North Carolina, and subsidiary of MassMutual, managing investments across fixed income, real estate, and private markets.
asset-managementinvestmentsfixed-income
Privately Owned
Barings is privately owned, unlike First Citizens Bank which is under a publicly traded parent company.
Finance FintechBloomberg Terminal
Owned by Bloomberg L.P.
Industry-standard financial data and analytics platform used by approximately 325,000 subscribers at banks, hedge funds, and institutional investors worldwide.
financial-datamarket-dataanalytics
Privately Owned
Bloomberg Terminal is privately owned, unlike First Citizens Bank which is under a publicly traded parent company.
Finance FintechBybit
Owned by Bybit Fintech Limited
Dubai-based cryptocurrency exchange, the world's second-largest by trading volume, serving more than 80 million registered users.
crypto-exchangetradingbitcoin
Privately Owned
Bybit is privately owned, unlike First Citizens Bank which is under a publicly traded parent company.
Finance FintechCharles Schwab
Owned by The Charles Schwab Corporation
American brokerage and wealth management brand serving 38.5 million active accounts and $11.90 trillion in client assets, flagship of The Charles Schwab Corporation.
brokerageinvestingwealth-management
Publicly Traded
Charles Schwab operates independently without a large parent corporation.
First Citizens BancShares, Inc. Stock Information
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