First Citizens BancShares Inc. reports developments for a U.S. super-regional banking company operating through First Citizens Bank, with business banking, branch banking, commercial lending, treasury and liquidity management, wealth-related services, and railcar leasing. News commonly covers earnings, loan and deposit trends, credit quality, capital returns, dividends on common and preferred stock, and debt or equity capital activity.
Company updates also follow First Citizens Bank’s commercial banking expansion, regional leadership appointments, and specialized lending through Silicon Valley Bank, a division serving technology, life science and healthcare, private equity, and venture capital clients. Recurring customer-finance announcements include warehouse credit, energy finance, and sector-focused banking services.
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The Board of Directors of First Citizens BancShares (NASDAQ: FCNCA) declared dividends on April 25, 2023, for its Class A, Class B common stock, and Series A, B, and C preferred stock. A quarterly dividend of 75 cents per share will be paid on June 15, 2023, to shareholders of record as of May 31, 2023. The Series A preferred stock will receive a dividend on the same date, while the Series B preferred stock will see a non-cumulative cash dividend at a rate of 8.83829%. The Series C preferred stock will also receive its quarterly dividend on the same date. First Citizens BancShares, a top 20 U.S. financial institution with over $200 billion in assets, is celebrating its 125th anniversary this year.
First Citizens BancShares, Inc. (NASDAQ: FCNCA) has announced it will report its financial results for the first quarter ending March 31, 2023, before the U.S. markets open on May 10, 2023. A conference call and webcast to discuss these results will occur at 9 a.m. Eastern Time on the same day. The company is a prominent financial institution with over $200 billion in assets and has a robust branch network across 23 states. This announcement coincides with its 125th anniversary, underscoring its long-standing legacy in the banking sector. Interested stakeholders are encouraged to pre-register for the call, which may include forward-looking statements and other material information.
First Citizens Bank's Healthcare Finance group has announced financing of $44.2 million for a portfolio of medical office buildings in Wisconsin and Illinois. The portfolio includes three properties: ProHealth Medical Group urgent care in Brookfield, Silver Cross Health Center in Mokena, and Moreland Medical Center in Waukesha, totaling over 266,000 square feet of medical space. Kayne Anderson Real Estate and Remedy Medical Properties are the affiliates receiving this financing. Their partnership with First Citizens demonstrates the bank's commitment to tailored financing solutions for healthcare professionals.
First Citizens Bank has announced its acquisition of substantially all loans and certain assets, along with customer deposits and liabilities of Silicon Valley Bridge Bank from the FDIC. This transaction is designed to uphold the bank's strong financial status while enhancing its loan portfolio and deposit base. With total assets of $110 billion and loans amounting to $72 billion, the merger allows First Citizens to leverage its expertise in private equity and technology sectors, and significantly expand its operations in California and the Northeast. The 17 branches of Silicon Valley Bridge Bank will operate as a division of First Citizens starting March 27, 2023.
First Citizens Bank has announced the expansion of its Middle Market Banking group to better support midsize businesses in the Midwest and South Central U.S.. Since its official launch in September 2022, the group has been growing steadily and now comprises over 30 relationship managers. The bank caters to companies with revenues between $75 million and $750 million, offering various services including senior secured loans and treasury services. This expansion aims to strengthen their presence in the market and enhance financial solutions for public and family-owned companies, as noted by the group head, Brendan Chambers.