First Citizens Bank Chairman and CEO Frank B. Holding Appointed to Federal Reserve Board of Governors' Federal Advisory Council

First Citizens BancShares (Nasdaq: FCNCA) announced that Chairman and CEO Frank B. Holding was appointed to the Federal Reserve Board of Governors' Federal Advisory Council (FAC) for 2026 to represent the Fifth District.

Rhea-AI Summary

First Citizens BancShares (Nasdaq: FCNCA) announced that Chairman and CEO Frank B. Holding was appointed to the Federal Reserve Board of Governors' Federal Advisory Council (FAC) for 2026 to represent the Fifth District.

The FAC comprises 12 banking industry representatives advising the Board of Governors. Holding will serve a customary three one-year term cycle and brings decades of First Citizens leadership; the company reports more than $200 billion in assets and over 18,000 associates.

Positive

• Frank B. Holding appointed to FAC for 2026 representing the Fifth District
• First Citizens scale: more than $200 billion in assets and 18,000 associates

Negative

• None.

Argus Feb 10 session

+0.08% close to close Open Argus

Details

News Market Reaction – FCNCA

On Feb 10, the day this news came out, FCNCA closed 0.08% above the previous close.

Data tracked by StockTitan Argus for the Feb 10 session.

Key Figures

Total assets: more than $200 billion Advisory council size: 12 representatives FAC term length: three one-year terms +3 more

Total assets

more than $200 billion

First Citizens BancShares asset base

Advisory council size

12 representatives

Federal Advisory Council membership, one per Federal Reserve District

FAC term length

three one-year terms

Customary service duration for Federal Advisory Council members

Chairman tenure start

February 2009

Frank Holding elected chairman of First Citizens Bank

Associate count

more than 18,000 associates

Companywide workforce

Advisory year

2026

Federal Advisory Council appointment year

Historical Context

5 past events · Latest: Feb 03

5 events

1. Feb 03

   Leadership appointment

   24h Move

   -2.5%

   New middle market banking director appointed to expand Florida footprint.

2. Jan 26

   Client partnership

   24h Move

   -0.1%

   Float secured funding facilities supported by First Citizens Bank products.

3. Jan 23

   Quarterly earnings

   24h Move

   -8.5%

   Reported Q4 2025 earnings with loan growth, deposit decline and credit costs.

4. Jan 23

   Dividend declaration

   24h Move

   -8.5%

   Board declared common and preferred dividends with specified per-share amounts.

5. Jan 15

   Financing mandate

   24h Move

   -0.1%

   Bank led $145 million financing package for renewable energy projects.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

federal advisory council, board of governors, federal reserve bank

3 terms

federal advisory council regulatory

"appointed to the Federal Reserve Board of Governors' Federal Advisory Council (FAC) for 2026."

A federal advisory council is a group of outside experts or representatives that provides non-binding advice to a federal agency or policymaker about conditions, risks and practical impacts of proposed actions. Think of it as a neighborhood council giving feedback to a city leader: it does not make rules but helps shape decisions by offering on-the-ground perspective, which investors watch because that input can influence regulatory shifts or policy moves that affect markets.

board of governors regulatory

"consults with and advises the Board of Governors of the Federal Reserve Bank on all matters"

A board of governors is a group of senior officials chosen to oversee the direction, rules and top appointments of a public or quasi‑public institution—such as a central bank, regulator or large non‑profit—acting like a company’s steering committee. Investors pay attention because the board’s choices on policy, leadership and risk control shape an institution’s credibility and financial outlook, which can influence markets, interest rates and the safety of investments.

federal reserve bank regulatory

"on behalf of the Federal Reserve Bank of Richmond. The FAC, which comprises 12 representatives"

A federal reserve bank is one of the regional branches of the country's central banking system that acts like a banker for other banks and a thermostat for the economy. It helps set interest rates, controls how much money is circulating, and provides banking services to financial institutions; those actions influence borrowing costs, inflation and asset prices, so investors watch its moves closely because they affect returns and risk across markets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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RALEIGH, N.C., Feb. 10, 2026 /PRNewswire/ -- First-Citizens Bank & Trust Company ("First Citizens Bank"), the wholly owned banking subsidiary of First Citizens BancShares, Inc. (Nasdaq: FCNCA), announced today that Chairman and CEO Frank Holding has been appointed to the Federal Reserve Board of Governors' Federal Advisory Council (FAC) for 2026. Holding will represent the Fifth District on behalf of the Federal Reserve Bank of Richmond.

The FAC, which comprises 12 representatives of the banking industry, one from each Federal Reserve District, consults with and advises the Board of Governors of the Federal Reserve Bank on all matters within the board's jurisdiction. Each year, the Federal Reserve Bank of Richmond chooses one person to represent its district on the FAC, and members customarily serve three one-year terms.

"Frank has provided the Richmond Fed with helpful insights for many years," said Tom Barkin, President and CEO of the Federal Reserve Bank of Richmond. "I'm pleased that he has agreed to represent the Fifth District and share his perspective with the Board of Governors."

Elected chairman of First Citizens Bank in February 2009, Holding guides the company with a focus on customers first, a disciplined approach to banking, strong asset quality and a long-term perspective. First Citizens BancShares, Inc. is a top 20 U.S. financial institution with more than $200 billion in assets, more than 18,000 associates and a network of branches and offices nationwide.

"It's an honor to serve the Fifth District in this advisory capacity," said Holding. "I look forward to joining other district members in support of the Federal Reserve's important mission to provide the nation with a safe, flexible and stable monetary and financial system."

A native of Smithfield, N.C., Holding received a bachelor's degree in business from the University of North Carolina at Chapel Hill and an MBA from The Wharton School of Finance at the University of Pennsylvania. He currently serves as chairman of Global Transpark Foundation and as a member of the Wake Forest University Board of Trustees.

About First Citizens Bank
First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.

Contact:	Angela English
	Corporate Communications
	803-931-1854

 

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SOURCE First Citizens Bank

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who was appointed to the Federal Advisory Council for 2026 from First Citizens (FCNCA)?

Frank B. Holding was appointed to the FAC for 2026 as the Fifth District representative. According to the company, Holding is chairman and CEO and will advise the Federal Reserve Board alongside 11 other district members.

What role will Frank Holding serve on the Federal Advisory Council for 2026?

Holding will serve as the Fifth District representative on the FAC for 2026, customarily part of a three one-year term cycle. According to the company, the FAC consults with the Board of Governors on policy matters.

Does Frank Holding's FAC appointment affect First Citizens' governance or leadership (FCNCA)?

The appointment is an advisory role for Holding; it does not change First Citizens' executive structure. According to the company, Holding remains chairman and CEO while representing the Fifth District on the FAC.

How large is First Citizens BancShares (FCNCA) as noted in the appointment release?

First Citizens reports more than $200 billion in assets and over 18,000 associates, signaling sizable scale. According to the company, this scale underpins its industry representation on the FAC.

What is the Federal Advisory Council and how often do members serve?

The FAC is a 12-member banking advisory group that consults the Federal Reserve Board of Governors. According to the company, district representatives customarily serve three one-year terms to provide continuing industry perspective.