Almost a year after First Citizens BancShares, Inc. (FCNCA) acquired the failed Silicon Valley Bank (“SVB”), the company is set to buy latter’s subsidiary, SVB Global Services India LLP.This was disclosed by SVB in a filing with the Securities and Exchange Commission.Under the terms of the deal, FCNCA will acquire “100% of the outstanding partnership interest” in the India-based business. The transaction is subject to approval from the United States Bankruptcy Court for the Southern District of New York and ...

RALEIGH, N.C., March 11, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $33.5 million in financing to Adams Beverages, a distributor of beer, wine and nonalcoholic beverages to bars, restaurants, grocery stores, package stores and other retail outlets throughout Alabama and North Carolina.   Within its distribution territories - which include 38 counties in Alabama and 28 counties in North Carolina - the third-generation family-owned Adams Beverages ...

Carputty, a leading fintech company revolutionizing auto financing and ownership, is thrilled to announce the successful closure of a $75 million warehouse/financing facility with Silicon Valley Bank (SVB) with an additional equity investment of $5M. This milestone SVB agreement, replacing the former $20 million facility, marks a significant leap forward in Carputty's expansion strategy and ability to meet burgeoning market demand. ATLANTA, March 06, 2024 (GLOBE NEWSWIRE) -- Carputty ("Carputty" or the "Com ...

RALEIGH, N.C., March 5, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Cannabis Banking business provided a $1 million working capital line of credit to MC Nutraceuticals, one of the largest global suppliers of hemp-derived cannabinoids. Founded in 2019, MC Nutraceuticals uses ecommerce to distribute 42 hemp-derived products to a diverse client base across the U.S. and internationally. Their product line includes Delta 8, CBD, CBG, CBC, CBN, THCv and other hemp derivatives. "We enjoyed wo ...

RALEIGH, N.C., Feb. 23, 2024 /PRNewswire/ -- For the 11th straight year, First Citizens Bank has been recognized by Coalition Greenwich, receiving 20 national and regional Greenwich Excellence and Best Brand awards. First Citizens ranked among the top five nationally in overall recognition out of more than 500 banks evaluated — earning six awards in the Middle Market Banking category and 14 in the Small Business Banking category (11 national and three regional). "First Citizens continues to be recognized by ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-K ____________________________________________________ ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 4300 Six Forks Road Raleigh North Carolina 27609 (Address of principle executive offices) (Zip code ...

KEY TAKEAWAYSDavid Einhorn's Greenlight Capital stayed committed to the turbulent regional banking industry in the fourth quarter, adding positions in New York Community Bancorp. and First Citizens BancShares.Both lenders were involved in buying into troubled regional banks during last spring's turmoil.Greenlight also bought Alight, AerCap, Kenvue and Viatris and exited Southwestern Energy.David Einhorn's Greenlight Capital stayed committed to the turbulent regional banking industry in the fourth quarter, a ...

JACKSONVILLE, Fla., Feb. 7, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $37 million to Rethink Healthcare Real Estate to refinance Grandview Physicians Plaza I, a medical office building located in Birmingham, Alabama. The medical office building spans over 200,000 rentable square feet and is located on the Grandview Medical Center campus. The property is conveniently located near the border of Jefferson and Shelby counties on US 280. Tenants includ ...

RALEIGH, N.C., Feb. 6, 2024 /PRNewswire/ -- First Citizens Bank today announced that it has provided $22.5 million in financing for the development of a new outpatient surgery center in Orlando, Florida. The center will have six operating rooms and 23 beds and will provide outpatient surgical services in bariatrics, cardiology, endoscopy, general surgery, neurology, orthopaedic surgery, otolaryngology, and plastic and vascular surgery. Surgical Investors & Advisors LLC played an important role in arranging ...

This February, Show Teens and Young Adults with Cancer That You CareRALEIGH, N.C., Feb. 1, 2024 /PRNewswire/ -- February is nonprofit Teen Cancer America's (TCA) "Month of Love," and First Citizens Bank is encouraging everyone to share the love and give hope to young people with cancer. February is nonprofit Teen Cancer America’s (TCA) “Month of Love,” and First Citizens Bank is encouraging everyone to share the love and give hope to young people with cancer. "TCA's Month of Love is a time set aside to ...