First Ctzns Bancshares Inc N C - FCNCA STOCK NEWS

Silicon Valley Bank (SVB), a division of First Citizens Bank, has announced a strategic lending partnership with Pinegrove Venture Partners to provide venture debt financing to technology and life science companies. The collaboration aims to deploy $2.5 billion in venture debt loans over the coming years.

Pinegrove, backed by Sequoia Heritage and Brookfield Asset Management, manages assets exceeding $10 billion. The partnership builds on a decade-long relationship during which the two entities have collectively committed over $10 billion in venture debt across 550 loans. Notably, Pinegrove acquired SVB Capital, SVB's former venture capital arm, from SVB Financial Group in 2024.

First Citizens Bank and Sixth Street announced the launch of Sixty-First Commercial Finance, a new platform managed by First Citizens Institutional Asset Management, This joint venture aims to provide flexible capital equipment financing solutions to middle market companies, offering financing ranges from $5 million to $100 million.

The platform will offer tax leases, loans, capital leases, and progress payment financing across various industries including transportation, construction, manufacturing, and warehouse distribution. Bank of America is providing a $300 million warehouse finance facility to fund the venture.

Ryan Berlage, with First Citizens Bank since 2020, will serve as managing director and chief credit officer. Kevin Ronan and Edward Moir have been appointed as officers of First Citizens Institutional Asset Management, to oversee the venture.

First Citizens BancShares (FCNCA) reported Q4 2024 earnings with net income of $700 million, up from $639 million in Q3 2024. Net income available to common stockholders was $685 million ($49.21 per diluted share), increasing from $624 million ($43.42 per diluted share) in Q3.

The bank experienced loan and deposit growth across all segments, with total loans reaching $140.22 billion (up 4.4% annualized) and deposits totaling $155.23 billion (up 9.6% annualized). Net interest income was $1.71 billion, decreasing by $87 million from Q3. During Q4, the company repurchased 461,583 shares of Class A common stock for $963 million and maintained strong capital ratios.

Notable items included $62 million in acquisition-related expenses, $16 million in intangible asset amortization, and credit quality remained stable with net charge-offs at 0.46% of average loans.

First Citizens BancShares (Nasdaq: FCNCA) has announced its dividend distributions for Q1 2025. The company will pay a quarterly common stock dividend of $1.95 per share on both Class A and Class B shares. Additionally, three preferred stock dividends were declared: $13.4375 per share on Series A (equivalent to $0.335938 per depositary share), $21.719122 per share on Series B, and $0.351563 per share on Series C. All dividends will be paid on March 17, 2025, to shareholders of record as of February 28, 2025.

First Citizens Bank (FCNCA) has announced a $2 million commitment in donations and financial support to assist those affected by the Southern California wildfires. The funds will be directed towards humanitarian and small business relief efforts, focusing on resource mobilization and long-term regional stabilization.

The bank, which operates 30 branches and offices in Southern California and employs over 1,000 associates in the region, will allocate part of the funds to support its employees directly impacted by the disaster. The bank is also working with customers to develop flexible solutions supporting their recovery efforts.

Silicon Valley Bank (SVB), a division of First Citizens Bank, released its 2025 State of the US Wine Industry Report, revealing significant market shifts. The report highlights a demand-based correction in the wine industry, with total wine consumption decreasing by volume. While the premium wine segment showed resilience with small single-digit sales declines, the top quartile of wineries achieved 22% sales growth.

Key findings include: total wine category sales ending 2024 with negative volume growth between -3% and -1%, weighted average winery revenue decline of 3.4%, and bottom quartile seeing a 16% revenue decline. No- and low-alcohol wine, white wine, and prosecco experienced positive growth, with white wine outpacing red wine sales for the first time in years. The market conditions are creating the most accessible bottle pricing in 30 years.

The report emphasizes a critical generational shift, with younger consumers showing different consumption patterns and often choosing alternatives to wine. Growing consumption share in the 30-45 segment is deemed important for industry recovery.

NineDot Energy has secured a $65 million equipment financing transaction led by First Citizens Bank to support the purchase of nearly 100 MW/400 MWh of batteries for up to 20 battery storage projects across the New York City metro area. The company, which specializes in community-scale battery energy storage systems, has raised over $500 million in total capital to date.

NineDot Energy is progressing toward its goal of having 400MW of battery storage in development, construction, or operation by the end of 2026. The company currently manages over 50 projects in various stages across the New York City area and ranks as a leading developer in ConEd's New York territory based on interconnection queue data.

Linea Energy has secured project debt financing for its Pineview Solar project, a 109MWdc utility-scale solar energy facility in Wilcox County, Georgia. The financing package includes a construction-to-term loan, a tax equity bridge loan, and a letter of credit facility, provided by a syndicate of lenders led by First Citizens Bank and Norddeutsche Landesbank Girozentrale (NORD/LB).

The financing will support the development of clean, reliable solar power in Georgia while contributing to the local economy. The project aims to advance Georgia's clean energy goals by delivering renewable energy to communities throughout the state. Winston & Strawn and Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel to the lenders and borrower, respectively.

Silicon Valley Bank's latest Healthcare Investments and Exits Report reveals that venture capital investment in healthcare reached $23 billion in 2024, up from $20 billion in 2023. Artificial Intelligence emerged as a dominant force, particularly in biopharma, capturing 30% of total healthcare investment.

The biopharma AI sector experienced remarkable growth, with investments exceeding $5.6 billion in 2024, marking a 300% increase from 2023 and surpassing 2021 figures by nearly $2 billion. Notably, 71% of biopharma AI investments came from mega deals exceeding $100 million.

The report highlights several key trends: seed rounds represented 40% of all deals, with 35% of companies receiving seed funding utilizing AI. Valuations showed a 1.5x median increase for companies raising after down rounds. While healthtech focuses on proven companies, diagnostics/tools sector shows promise in liquid biopsies and precision diagnostics, and the device sector sees potential revival through hospital-focused innovations.