First Citizens Bank Provides $25 Million to Largest Wholesale Distributor of Plumbing, Heating and Industrial Products in Northeast

Company Overview - First Citizens Bank's Middle Market Banking business provided $25 million in financing to F.W. Webb, the largest wholesale distributor of plumbing, heating, and industrial products in the Northeastern U.S. [1] - F.W. Webb is a third-generation privately held company with over 100 locations across nine states, serving a diverse customer base including contractors, colleges, hospitals, and government agencies [2]. Financing Details - The financing will be used to refinance F.W. Webb's newly constructed warehouse and distribution center with a showroom located in Boston, Massachusetts [3]. - The new facility is strategically located near many of Boston's colleges, universities, and hospitals, aligning with F.W. Webb's business strategy during a period of steady industry growth [4]. Strategic Expansion - First Citizens Middle Market Banking is expanding its services to better serve midsize business clients across the Northeast [1]. - The bank aims to provide tailored financial solutions, including deposit solutions, loans, and treasury services, to a variety of industries [4].