First Citizens Bank Chairman and CEO Frank B. Holding Appointed to Federal Reserve Board of Governors' Federal Advisory Council

Core Viewpoint - Frank B. Holding, Chairman and CEO of First Citizens Bank, has been appointed to the Federal Reserve Board of Governors' Federal Advisory Council for 2026, representing the Fifth District on behalf of the Federal Reserve Bank of Richmond [1]. Group 1: Appointment Details - The Federal Advisory Council (FAC) consists of 12 representatives from the banking industry, one from each Federal Reserve District, and provides consultation to the Federal Reserve Board of Governors on relevant matters [1]. - Holding has been recognized for providing valuable insights to the Richmond Fed over the years, and his appointment is seen as a continuation of this contribution [1]. Group 2: Company Overview - First Citizens Bank is a wholly owned subsidiary of First Citizens BancShares, Inc., which is a top 20 U.S. financial institution with over $200 billion in assets and more than 18,000 associates [1]. - The bank focuses on customer service, disciplined banking practices, strong asset quality, and long-term strategic planning [1]. Group 3: Leadership Background - Frank B. Holding has been the chairman of First Citizens Bank since February 2009 and holds a bachelor's degree in business from the University of North Carolina at Chapel Hill and an MBA from The Wharton School of Finance at the University of Pennsylvania [1]. - He is also involved in other leadership roles, including serving as chairman of the Global Transpark Foundation and as a member of the Wake Forest University Board of Trustees [1].