Core Viewpoint - First Citizens BancShares, Inc. announces the retirement of Lorie K. Rupp as Executive Vice President and Chief Risk Officer, effective June 1, 2026, with Tom Eklund set to succeed her, ensuring a smooth transition in leadership [1][2]. Group 1: Leadership Transition - Lorie K. Rupp has served as Chief Risk Officer since March 2017, significantly enhancing the company's risk management framework during a period of growth [2]. - Tom Eklund, a 20-year veteran of First Citizens Bank and current Treasurer, will take over as Chief Risk Officer, bringing extensive experience in managing various risks [1][3]. Group 2: Company Background - First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets and is a member of the Fortune 500 [4]. - The company offers a wide range of banking services, including commercial banking, innovation banking, and a nationwide direct bank [4].

Investment Overview - AI investment in healthcare exceeded $18 billion in 2025, representing 46% of total healthcare investment [1][7] - Overall healthcare investment totaled $46.8 billion in 2025, marking a 12% decrease from the previous year [1][7] Sector Performance - Investments in healthtech and device sectors grew by 5.3% and 1.5% respectively, while biopharma and diagnostics/tools sectors saw declines of 19% and 33% [7] - Total venture capital deal counts in healthcare decreased by 7% in 2025, indicating a more selective funding environment [7] Fundraising Trends - Healthcare-focused venture capital firms raised $7 billion in new funds in 2025, down from a peak of $41 billion in 2021 [7] - First-time and emerging managers are experiencing longer fundraising cycles, with capital increasingly directed towards companies with clinical validation and revenue traction [2] Deal Dynamics - 2025 saw more healthcare AI deals over $300 million than in any other year, with these large deals accounting for 40% of total healthcare AI spending [7] - Deals of $300 million or more represented 29% of total healthcare AI deals in 2023 and 31% in 2024 [7]

Core Viewpoint - First Citizens BancShares, Inc. will report its financial results for the quarter ended December 31, 2025, on January 23, 2026, before U.S. financial markets open [1] Group 1: Financial Results Announcement - The financial results will be discussed in a conference call and webcast scheduled for 9 a.m. Eastern time on the same day [1] - The conference call and webcast may include forward-looking statements and other material information [1] Group 2: Pre-registration and Access Information - Investors can pre-register for the call via a recommended webcast link [2] - A confirmation email with details will be sent after registration [2] - Telephone access is available for North America and other locations with specific dialing instructions provided [2] Group 3: Company Overview - First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets and is a member of the Fortune 500 [3] - The company serves as the financial holding company for First-Citizens Bank & Trust Company, headquartered in Raleigh, N.C. [3] - First Citizens offers a range of banking services, including commercial banking, innovation banking, and a nationwide direct bank [3]

Financing Agreements - Pivot Energy announced three financing agreements totaling $225 million, bringing its total financing in 2025 to $435 million [1][2] - The financing includes a $170 million upsize to an existing construction warehouse facility, a $40 million equipment facility, and a $15 million corporate financing facility [6] Strategic Partnerships - The financing is backed by Energy Capital Partners, highlighting the strength of solar developers in attracting capital despite federal policy challenges [2] - Strong partnerships with ATLAS, First Citizens, and Comerica are emphasized as crucial for Pivot's growth and ability to scale distributed generation projects [3][6] Project Development - The new financing supports a portfolio of approximately 60 community solar projects, equivalent to 225 Megawatts (MW), across multiple states including Illinois, Colorado, and California [6] - Pivot Energy aims to contribute to a reliable electricity grid, lower electricity prices, and meet growing energy demand through its community solar projects [3] Company Overview - Pivot Energy is a renewable energy provider and independent power producer focused on solar and energy storage projects, committed to accelerating the clean energy transition [4] - The company is a U.S.-based Certified B-Corporation, emphasizing its commitment to environmental stewardship and social responsibility [4]

Core Insights - Soltage has successfully closed an $80 million syndicated development revolver facility to support its growth in solar and energy storage projects across the U.S. [1][2] - This financing marks Soltage's first major pre-notice-to-proceed (pre-NTP) financing vehicle, indicating a strengthened market reputation and expanded financial capacity [2][3] Company Overview - Soltage is a leading independent power producer focused on developing, financing, and operating distributed solar and energy storage assets for various customers across the U.S. [5] - The company has developed over 125 clean energy projects, totaling more than 500 MW of distributed generation capacity [4][5] Financing Details - The new multi-year revolver will finance development-stage expenditures, including interconnection deposits and equipment procurement, allowing for efficient capital deployment across Soltage's growth pipeline [2] - First Citizens Bank and EastWest Bank are the primary financial partners in this facility, highlighting their confidence in Soltage's business model [3] Market Impact - The financing will enable Soltage to enhance its development of solar and energy storage projects in key U.S. markets, contributing to the delivery of reliable and cost-effective clean energy solutions [3]

Core Insights - Self-improvement is a priority for many Americans as 2026 approaches, with 42% planning to set New Year's resolutions and expecting to spend an average of $4,700 to achieve their goals [1][3] - Financial resolutions are a major focus, with 55% of those making resolutions committed to budgeting, saving, investing, paying off debt, or building credit [1][5] Spending Patterns - Men plan to spend more than women on resolutions, averaging $5,360 compared to $4,000, with men aged 35-54 being the highest spenders at over $6,000 [3] - The most expensive category of resolutions is personal-life resolutions, with an average budget of $3,047, including $1,251 for travel and $768 for meals and entertainment [4] Gender Differences in Financial Goals - 73% of both men and women prioritize financial goals, but men are more likely to engage in investing (55% vs. 37%), improving credit scores (49% vs. 35%), and contributing to retirement plans (39% vs. 26%) [5][6] - Women are more inclined to reduce spending (65% vs. 55%) and take on additional work (46% vs. 42%) to achieve their financial goals [7] Saving Goals - 81% of Americans are saving with specific goals in mind for 2026, with travel being the most popular goal (40%), followed by purchasing a car (25%) and buying a house (21%) [8] - CIT Bank offers tools for customers to create savings buckets for different goals, enhancing the ability to visualize and connect emotionally with saving [9]

Core Insights - First Citizens BancShares is expanding its presence in Boston following its acquisition of Silicon Valley Bank, joining a trend of banks entering or expanding in the area [1][8] - Boston's affluent market, characterized by strong sectors in healthcare, biomedical research, technology, and venture capital, presents significant opportunities for banks [3][4] - The competitive landscape in Boston is dominated by Bank of America, Citizens Financial Group, and Santander, which collectively hold 47% of local deposits [5][8] Bank Expansion and Mergers - KeyCorp has announced plans to expand its retail banking presence in Boston, indicating the area's high priority for regional banks [2] - Recent mergers in the local banking sector include Berkshire Hills Bancorp's merger with Brookline Bancorp and Eastern Bankshares' acquisition of HarborOne, suggesting a trend towards consolidation [6][7] - The ongoing banking upheaval is creating opportunities for community banks to compete effectively against larger institutions [7] First Citizens' Strategy - First Citizens aims to leverage technology inherited from SVB to enhance its service offerings in Boston, targeting a diverse clientele from mass market to high net worth individuals [10][11] - The bank is implementing a "retain and expand strategy," focusing on maintaining existing clients while actively seeking new ones [11] - First Citizens is also building its wealth management division in Boston, hiring 50 advisors in 2025 to strengthen its service capabilities [13] Focus on Startups and Innovation - The bank plans to capitalize on SVB's legacy in lending to venture capital and private equity firms, aiming to build long-term relationships with startups [14] - First Citizens is developing a Startup Banking team to serve early-stage companies, fostering loyalty that could lead to broader banking relationships [14][15]

Group 1 - First Citizens Bank has appointed Snow Holding as Director and Market Leader of Middle Market Banking for the Northeast, focusing on business expansion in Boston and New York [1] - Holding has a six-year tenure at First Citizens, previously serving in Deposit and Treasury Services and as Manager of Business Banking in Boston [1] - The bank's middle market banking practice has been operational in the Northeast for two years, targeting clients with revenues above $75 million [2] Group 2 - First Citizens Bank aims to enhance its Business, Commercial, and Wealth presence in the Northeast region, with plans for further market expansion [2] - The bank offers a comprehensive suite of products and services designed for middle market clients, emphasizing a high-touch client-centric banking experience [2] - First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets, providing a wide range of banking services nationwide [3]

Core Insights - Peregrine Energy Solutions has secured a preferred equity commitment from Bildmore Clean Energy for a battery energy storage project currently under construction, alongside financing from a group of lenders [1][2] - The company has developed a pipeline of 15 GWh of storage across various regions, with two projects under construction in Texas [2] - Peregrine has previously announced multiple rounds of financing in 2023, indicating strong investor support [2] Company Overview - Peregrine Energy Solutions was founded in April 2022 and focuses on utility-scale energy storage [3] - The company is a partnership between Peregrine Energy Management and a global alternative investment manager with approximately $20 billion in assets [3] Financing Details - The recent financing includes a preferred equity commitment and bridge financing from First Citizens Bank and Societe Generale, highlighting the innovative capital structure supporting Peregrine's growth [1][2] - Previous financing rounds in 2025 included $53 million from Bildmore and $115 million from First Citizens Bank and Nomura Securities [6] Partner and Investor Profiles - Bildmore Clean Energy specializes in providing preferred equity commitments for utility-scale battery storage and solar projects [5] - AB CarVal, part of AllianceBernstein, has invested over $6 billion in energy transition investments since 2017 [4] - First Citizens Bank and Societe Generale are key financial partners, with First Citizens having over $200 billion in assets and Societe Generale serving clients in 62 countries [7][8]

Core Insights - First Citizens Bank's Healthcare Finance division provided $38 million in first-mortgage debt to Stockdale Capital Partners for the acquisition of Willow Oaks Corporate Center, a 401,000-square-foot medical outpatient campus in Fairfax, VA [1][2] Company Overview - Stockdale Capital Partners is a private equity real estate firm with over 30 years of experience and $2.8 billion in assets, focusing on healthcare, office, retail, and mixed-use properties in key Western U.S. markets [3] - First Citizens Bank, headquartered in Raleigh, N.C., is a top 20 U.S. financial institution with more than $200 billion in assets, offering a range of banking services including commercial banking and healthcare finance [5] Strategic Goals - Stockdale aims to leverage the tech-forward and amenity-rich environment of Willow Oaks to attract complementary healthcare providers and enhance community access to high-quality care [2] - First Citizens Bank's Healthcare Finance division provides tailored capital solutions to support healthcare owners and operators, emphasizing a client-focused and industry-centric model [4]