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First Citizens BancShares, Inc. - $FCNCA STOCK NEWS

Welcome to our dedicated page for First Citizens BancShares news (Ticker: $FCNCA), a resource for investors and traders seeking the latest updates and insights on First Citizens BancShares stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect First Citizens BancShares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of First Citizens BancShares's position in the market.

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First Citizens Bank announced that it served as the coordinating lead arranger for $133 million in financing for the Cranberry Point Energy Storage project in Carver, Massachusetts. The project, developed by Plus Power, is a 150 MW / 300 MWh battery energy storage facility slated for completion by Q2 2025. This marks the first major utility-scale standalone battery storage in New England. The facility aims to bolster grid stability and integrate clean power. First Citizens Bank's Energy Finance division brings extensive industry knowledge to the project, showcasing its capacity to handle diverse investments in the energy sector.

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-1.25%
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First Citizens Bank announced a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Tacoma, Washington. The borrower is a joint venture led by Harrison Street, which manages about $55 billion in assets and ranks among the top five largest owners in the senior housing sector in the U.S. The facility was originally developed by the same joint venture with PMB The refinancing was facilitated by First Citizens Healthcare Finance, known for its client-focused and industry-centric approach. The facility is managed by GenCare Lifestyle, another joint venture partner.

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First Citizens Bank announced that its Asset-Based Lending business will provide up to $400 million in combined financing to WhiteHawk Fund IV and WhiteHawk Evergreen Fund. Managed by WhiteHawk Capital Partners, these funds focus on asset-based loans to private and public companies. The new credit facilities aim to leverage the funds' existing portfolios and provide capital for future growth. Both companies expressed enthusiasm for the ongoing partnership and the expertise involved in arranging the financing.

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Venture capital investment in AI for healthcare has surged, now capturing one in four healthcare investment dollars. This growth outpaces the tech industry, with $2.8 billion invested in 2024 alone and projections of $11.1 billion for the year. A new report from Silicon Valley Bank (SVB) highlights the significant role AI is playing in healthcare, focusing on administrative and clinical uses. Key themes include the appeal of administrative AI, integration with providers' existing infrastructure, and the challenges of AI-driven diagnostics. Despite fewer funds closing, the total amount raised in 2024 is expected to surpass 2023, reaching $16.9 billion.

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-1.46%
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First Citizens BancShares (Nasdaq: FCNCA) has been named to the Fortune 500 list for the first time, ranking #182 in the U.S. based on revenue. The company also secured the #24 spot on Fortune's 2024 list of fastest-growing companies. CEO Frank B. Holding, Jr. credits the company's 16,000 employees for this achievement. Recent growth is attributed to the acquisition of Silicon Valley Bridge Bank N.A. in 2023. Other accolades include top 20 on Forbes' America's Best Banks, among the top five in the Greenwich Excellence Awards, and a top 50 spot in the Nacha Payment Systems Organization.

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-1.37%
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First Citizens Bank announced that CIT Northbridge Credit, guided by First Citizens Institutional Asset Management, provided a $75 million revolving credit facility to Cisco Equipment Rentals.

This Texas-based company specializes in equipment rentals, new and used sales, parts, and service. The credit facility will refinance and consolidate existing loans, supporting their growth-oriented business plan and restructuring efforts.

The financing aims to help Cisco diversity into new markets and sectors across Texas. Both companies expressed mutual satisfaction and optimism about the strategic collaboration and its impact on Cisco's market position.

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Silicon Valley Bank (SVB), a division of First Citizens Bank, and Trinity Capital announced a $63 million warehouse facility for Denim, a fintech company supporting freight brokers. SVB's national fintech practice and Trinity Capital aim to enhance Denim's cash flow and operational capabilities, especially in a volatile market. The facility will help Denim's innovative payment platform simplify freight brokers' back-office operations, enabling them to focus on business growth. Leaders from both SVB and Trinity praised Denim's software suite for advancing the digitization of the freight and logistics market, expressing excitement about this partnership.

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First Citizens Bank announced a $31.5 million financing deal with Jaclyn to purchase a new industrial warehouse and distribution center in Southern California. The facility, spanning over 233,000 square feet, will serve as the new West Coast hub for Jaclyn and its affiliates within the Golden Touch Group. CFO John Bang of Jaclyn praised First Citizens for their strategic partnership and expertise. Brendan Chambers, Head of Middle Market Banking at First Citizens, emphasized the bank's commitment to supporting Jaclyn's growth. Managing Director Sarah Warren highlighted the long-standing relationship between First Citizens and Jaclyn. The bank's Middle Market Banking division offers a variety of financial solutions to midsize clients.

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-1.93%
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First Citizens Bank announced a $74 million senior secured loan to Lonicera Partners for a 23-story, class A multifamily building in Downtown Brooklyn, NY. The property at 310 Livingston Street features 160 luxury apartments and over 8,600 sq ft of retail and amenity space. Lonicera Partners, a real estate development firm focused on residential projects in Brooklyn, has a well-regarded track record. First Citizens' Commercial Real Estate unit, which specializes in senior secured real estate financing, praised the ongoing partnership with Lonicera and highlighted the strategic value of the new development.

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First Citizens Bank has announced a $24.5 million construction financing deal for the 121 Commerce Center, a new industrial property in Grapevine, Texas. The project, owned by an affiliate of GTIS Partners, will cover over 272,000 square feet and feature 36-foot ceilings, 54 truck doors, and more than 350 parking spaces. Strategically located near major highways and the Dallas-Fort Worth airport, construction has already begun, with completion expected by the end of the year. The project aims to support regional distribution needs, highlighting the collaborative efforts and expertise of both First Citizens and GTIS Partners.

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First Citizens BancShares, Inc.

Nasdaq:FCNCA

FCNCA Rankings

FCNCA Stock Data

23.71B
11.10M
20.87%
65.83%
1.96%
Commercial Banking
Finance and Insurance
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United States of America
SAN JUAN