- First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets, operating as the financial holding company for First-Citizens Bank & Trust Company, headquartered in Raleigh, North Carolina.
- In October 2025, First Citizens Bank announced the acquisition of 138 branches from BMO Bank N.A., expected to close in the second half of 2026, which will add approximately $5.7 billion in deposits and $1.1 billion in loans.
- The bank's recent growth has been driven by strong loan performance in Global Fund Banking, indicating a focus on serving institutional clients and fund managers.
- Ideal buyers for First Citizens include mid-sized businesses and institutional clients seeking reliable banking solutions, as the bank's recent capital returns and stable credit quality position it as a strong partner for financial growth.
First Citizens BancShares employs a diverse workforce across 18 departments, with Finance leading at 1,538 employees, followed closely by Operations with 1,342. Information Technology, with 880 employees, also plays a critical role in supporting the bank's infrastructure. The balanced distribution of staff across departments indicates a strategic focus on both operational efficiency and technological advancement, while the 'Other' category encompasses 2,237 employees, reflecting a variety of specialized functions within the organization.
The company operates across 846 locations, with a significant presence in Raleigh, NC, housing 700 employees, followed by Pasadena, CA, with 362. Other notable locations include New York, NY (237) and Elizabethtown, KY (220). The substantial headcount in 'Other' locations, totaling 2,878, suggests a distributed workforce that supports regional operations, indicating a strategic geographic spread to enhance service delivery across various markets.
