NEW YORK, July 17, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $24 million to finance the acquisition of a post-acute medical rehabilitation hospital in Tulsa, Oklahoma. "We are pleased with First Citizens Healthcare Finance group's ability to arrange a solid financial package as we continue to grow our business," said Rance Sanders, President and CEO. "We highly value our First Citizens banking relationship and appreciate their efficient process an ...

RALEIGH, N.C., July 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the quarter ended June 30, 2024, before the U.S. financial markets open on Thursday, July 25, 2024. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register ...

NEW YORK, June 26, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business provided $52 million in financing to a joint venture between Wheelock Street Capital and Foundry Commercial for the construction of Egret Point Logistics Center in Boynton Beach, Florida. Wheelock Street Capital LLC is a private real estate investment firm based in Greenwich, CT and was founded by Merrick R. Kleeman and Johnathan H. Paul. Wheelock consists of a premier investment and asset ma ...

Core Insights - The study conducted by First Citizens Wealth reveals affluent Americans' attitudes towards money management, retirement, estate planning, and wealth transfer [1][7][12] Wealth Management and Planning - Affluent Americans generally feel they manage their money well, with 66% believing they do better than others [12][13] - However, there is a significant gap in preparedness for wealth transfer, with only 50% having a written plan in place despite 94% intending to pass down wealth [7][12] - The average expected amount needed for retirement is $3 million, while for passing down wealth, it is $5.5 million [14][12] Financial Advisor Engagement - Most affluent individuals start working with a financial advisor in their late thirties, with Millennials starting at an average age of 29 [3] - 89% of affluent Americans credit their financial advisors for helping them generate more wealth, with additional benefits including feeling more prepared for the future (66%) and reducing stress (58%) [8][12] Estate Planning Insights - The study emphasizes the importance of early estate planning, with many affluent Americans lacking a will (only two-thirds) and an estate plan (40%) [7][12] - The primary concern for affluent Americans regarding retirement is maintaining their lifestyle, which 44% identified as their main focus [14]

Cranberry Point is a 150 MW / 300 MWh battery energy storage project developed by Plus Power with a targeted completion in the second quarter of 2025. Located on roughly 6 acres of land in Carver, Massachusetts, the project will interconnect near critical transmission infrastructure and represents the first major utility-scale standalone battery storage facility in construction on the New England grid. "The Cranberry Point Energy Storage facility is poised to improve grid stability and reliability while als ...

NEW YORK, June 13, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Tacoma, Washington. "Demand for high-quality senior living facilities remains strong in the Pacific Northwest and nationwide," said William Douglass, head of First Citizens Healthcare Finance. "We were pleased to work closely with our clients on this transaction." "The Point Ruston pro ...

New report finds one in four dollars invested in healthcare going toward companies leveraging AI SAN FRANCISCO, June 11, 2024 /PRNewswire/ -- Venture capital deal activity in Artificial Intelligence (AI) for healthcare has surged the past five years, growing twice as fast as the tech industry overall. A record one in four healthcare investment dollars goes to companies leveraging AI, according to the latest report from Silicon Valley Bank (SVB), a division of First Citizens Bank. Leveraging SVB's proprietar ...

NEW YORK, May 30, 2024 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $75 million revolving credit facility to Cisco Equipment Rentals, a Texas-based provider of equipment rentals, new and used equipment sales, parts and service. The revolver was used to refinance and consolidate multiple existing lending facilities supporting a growth- oriented business plan and in conjunction with a complex restr ...

RALEIGH, N.C., May 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $31.5 million in financing to national fashion retailer Jaclyn LLC for the purchase of a newly constructed industrial warehouse and distribution center in Southern California. The warehouse comprises more than 233,000 square feet and will serve as the new West Coast shipping and distribution center for Jaclyn and its affiliated companies of the Golden Touch Group, providers of mer ...

NEW YORK, May 28, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business served as sole lender on a $74 million senior secured loan to Lonicera Partners on a 23-story, class A multifamily building in Downtown Brooklyn, New York. Located at 310 Livingston Street, the building features 160 luxury apartment units and over 8,600 square feet of ground floor retail and premier amenity space. "We're pleased to partner with First Citizens Commercial Real Estate on this fin ...