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.
CIT Bank (FCNCA) released survey results showing 42% of Americans plan New Year's resolutions for 2026 and expect to spend an average of $4,700 to achieve them.
Financial goals are prominent: 55% of resolvers intend budgeting, saving, investing, paying debt, or building credit. Men plan to spend more than women ($5,360 vs. $4,000), with men 35–54 projecting >$6,000. Personal-life resolutions are costliest ($3,047 average), including travel $1,251, meals/entertainment $768, and hobby supplies $400.
The survey reports behavioral differences: men favor investing, credit-building, advisors, and high-yield accounts; women favor spending cuts, extra work, and goal-based savings accounts. 81% of savers have specific goals, led by travel (40%), car purchase (25%), and home purchase (21%).
First Citizens (NASDAQ:FCNCA) named Snow Holding as Director and Market Leader, Middle Market Banking — Northeast effective Nov 20, 2025.
Holding will lead relationship managers and business expansion across the Boston and New York offices and the broader Northeast Corridor. He joined First Citizens six years ago in Deposit and Treasury Services, advanced to business banker, and most recently served as Manager of Business Banking in Boston. Holding holds a bachelor's degree from Wake Forest and an MBA from Texas Christian University.
First Citizens said its middle market practice has served the Northeast for two years and targets clients with above $75mm revenue, supporting the bank's ongoing Business, Commercial and Wealth expansion in the region.
Lumafield (FCNCA) announced a $50 million growth capital facility from Silicon Valley Bank, a division of First Citizens Bank, on November 20, 2025. The financing, provided by SVB's Technology Banking Group, is intended to fund deployment of additional industrial computed tomography (CT) scanners and support scaling to meet strong customer demand across medical device, consumer packaged goods, automotive, and battery sectors.
Management said the facility will help Lumafield scale operations, focus on product innovation, and expand go-to-market efforts while continuing partnerships with major manufacturers.
First Citizens BancShares (Nasdaq: FCNCA) purchased a six-story office building at 667 Mission Street, San Francisco, to support its growing Bay Area client base.
The property totals more than 160,000 square feet, includes an 8,000 square foot rooftop terrace, and will be renovated with an expected move-in date in 2027. First Citizens expects to occupy part of the building and to lease remaining space to tenants.
This is the bank's second commercial real estate purchase in the Bay Area in 2025, following a 43,000 square foot Palo Alto acquisition in August; the bank reports more than 500 associates in San Francisco and over 1,000 in the greater Bay Area.
Silicon Valley Bank (FCNCA) named Megan Scheffel Head of Life Science and Healthcare Banking, effective Nov 18, 2025. Scheffel, a 28-year company veteran, will lead a nationwide team providing specialized banking, debt financing, industry partnerships, and market insights for life science and healthcare clients. Based in Washington D.C., she will report to Marc Cadieux, President of Silicon Valley Bank.
The bank also appointed Bill Burkoth as Senior Managing Director for the Life Science and Healthcare East region. Burkoth, based in New York, is a 25-year industry veteran with prior roles at Forest Road, SVB Capital, and Pfizer Ventures.
Peregrine Energy Solutions (FCNCA) closed a preferred equity commitment with Bildmore Clean Energy and secured a club lending facility to support a $317 million battery energy storage project currently under construction.
The company said First Citizens Bank and Societe Generale acted as coordinating lead arrangers, Siemens Financial Services as joint lead arranger, and East West Bank as an additional lender. Peregrine reported a 15 GWh development pipeline across SPP, MISO, ERCOT, PJM and WECC and has two BESS projects under construction in Texas.
Recent prior financings include a $53 million preferred equity and $115 million bridge in March 2025 and $130 million in new capital in October 2025.
First Citizens Wealth (NYSE:FCNCA) appointed Lee Erby as Northern California Market Leader, based in San Francisco, effective Nov. 12, 2025.
Erby reports to Art Saldivar, Senior Director of Regional Wealth for California, and will lead a team of wealth consultants focused on high-net-worth individuals, entrepreneurs, founders, investors, businesses and nonprofits across Northern California. Erby brings more than 20 years of wealth and private banking experience with prior senior roles at Bank of America Private Bank, Merrill Lynch and Citi Private Bank.
First Citizens Wealth offers wealth planning, investment services, trust and fiduciary services, banking and lending. The bank operates six Bay Area branches, its Silicon Valley Bank division has a Northern California presence for over 40 years, and it employs more than 1,000 people in the Bay Area, including over 80 First Citizens Wealth employees.
First Citizens Bank (FCNCA) provided $38 million in first-mortgage financing to Stockdale Capital Partners to fund its acquisition of Willow Oaks Corporate Center, a 401,000-square-foot medical outpatient campus in Fairfax, VA, announced Nov. 10, 2025.
The campus comprises two eight-story buildings at 8260 and 8280 Willow Oaks Corporate Drive and is anchored by Inova Health System. Stockdale intends to position the asset for additional healthcare tenants. Stockdale is described as a Los Angeles-headquartered private equity real estate firm with 30+ years experience and $2.8 billion in assets.
First Citizens Wealth (FCNCA) published its second annual Beyond Wealth survey of 500 business owners and wealthy Americans on Nov 6, 2025, finding owners remain resilient and optimistic amid economic change.
Key findings: 66% fund ventures with personal savings, 40% use bank loans, experienced owners are twice as likely to use private equity/VC (38% vs 18%), owners reinvest and hire more, 54% of owners are very confident vs 35% of wealthy non-owners, and owners carry nearly 4x more debt. Wealthy Americans show rising private equity (45%) and crypto (35%) ownership, with generational splits: millennials favor business ownership and private investments; boomers favor CDs/money markets (74%).
First Citizens (NASDAQ:FCNCA) named Mike Spencer as Managing Director of Middle Market Banking in Atlanta effective Nov. 5, 2025.
Spencer, a 30-year industry veteran, will expand First Citizens' middle market presence across Georgia and nearby markets. He joins from Synovus after eight years building its middle market platform and has prior relationship roles at Wells Fargo and JPMorgan Chase. The bank's middle market platform targets customers with above $75mm of revenue and has served Georgia and surrounding regions since 2022.