First Citizens BancShares
Encyclopedia
First Citizens Bancshares, Incorporated (First Citizens Bancshares) is a bank holding company based in Raleigh, North Carolina
. that operates two subisidiaries, First Citizens Bank and IronStone Bank. In aggregate, First Citizens operates in 17 states in the United States
, concentrated in the Southeastern United States
, Southern California
, and Washington.
First Citizens is the 46th largest bank holding company in the United States with $21 billion in assets. The company employs approximately 4,400 employees.
First Citizens Bank serves clients in more than 200 locales in North Carolina
, Virginia
, West Virginia
, Tennessee
, Maryland
, Florida
, Colorado
, California
, Washington and Washington, DC. First Citizens has 435 branches. IronStone Bank
, a division of the company, has 58 branches in Arizona
, California
, Colorado
, Georgia
, Florida
, Kansas
, Missouri
, New Mexico
, Oklahoma
, Oregon
, Texas
, and Washington.
On October 8, 2010, First Citizens filed a merger application with federal regulators, the Office of the Comptroller of the Currency
and the Federal Reserve Bank of Richmond
, and respective state banking departments in IronStone's footprint. IronStone Bank will continue to operate under its trade name. The change became official January 7, 2011.
First Citizens Bank entered into an agreement with the Federal Deposit Insurance Corp. (FDIC) to purchase substantially all the assets and assume the majority of the liabilities of United Western Bank, Denver, Colorado
on January 21, 2011. Months later First Citizens took over the failed Colorado Capital Bank of Castle Rock, Colorado
in a similar deal. It was the sixth FDIC-related agreement since July 2009. First Citizens now has 14 branches in Colorado, 3 of them IronStone.
, opened on March 1, 1898.
Raleigh, North Carolina
Raleigh is the capital and the second largest city in the state of North Carolina as well as the seat of Wake County. Raleigh is known as the "City of Oaks" for its many oak trees. According to the U.S. Census Bureau, the city's 2010 population was 403,892, over an area of , making Raleigh...
. that operates two subisidiaries, First Citizens Bank and IronStone Bank. In aggregate, First Citizens operates in 17 states in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, concentrated in the Southeastern United States
Southeastern United States
The Southeastern United States, colloquially referred to as the Southeast, is the eastern portion of the Southern United States. It is one of the most populous regions in the United States of America....
, Southern California
Southern California
Southern California is a megaregion, or megapolitan area, in the southern area of the U.S. state of California. Large urban areas include Greater Los Angeles and Greater San Diego. The urban area stretches along the coast from Ventura through the Southland and Inland Empire to San Diego...
, and Washington.
First Citizens is the 46th largest bank holding company in the United States with $21 billion in assets. The company employs approximately 4,400 employees.
First Citizens Bank serves clients in more than 200 locales in North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
, Virginia
Virginia
The Commonwealth of Virginia , is a U.S. state on the Atlantic Coast of the Southern United States. Virginia is nicknamed the "Old Dominion" and sometimes the "Mother of Presidents" after the eight U.S. presidents born there...
, West Virginia
West Virginia
West Virginia is a state in the Appalachian and Southeastern regions of the United States, bordered by Virginia to the southeast, Kentucky to the southwest, Ohio to the northwest, Pennsylvania to the northeast and Maryland to the east...
, Tennessee
Tennessee
Tennessee is a U.S. state located in the Southeastern United States. It has a population of 6,346,105, making it the nation's 17th-largest state by population, and covers , making it the 36th-largest by total land area...
, Maryland
Maryland
Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, Washington and Washington, DC. First Citizens has 435 branches. IronStone Bank
Ironstone Bank
The Ironstone Bank is a community bank founded in 1997, and operating in most of the Southern United States. By 2008, it owned and operated approximately fifty-six branches....
, a division of the company, has 58 branches in Arizona
Arizona
Arizona ; is a state located in the southwestern region of the United States. It is also part of the western United States and the mountain west. The capital and largest city is Phoenix...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
, Georgia
Georgia (U.S. state)
Georgia is a state located in the southeastern United States. It was established in 1732, the last of the original Thirteen Colonies. The state is named after King George II of Great Britain. Georgia was the fourth state to ratify the United States Constitution, on January 2, 1788...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, Kansas
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...
, Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
, New Mexico
New Mexico
New Mexico is a state located in the southwest and western regions of the United States. New Mexico is also usually considered one of the Mountain States. With a population density of 16 per square mile, New Mexico is the sixth-most sparsely inhabited U.S...
, Oklahoma
Oklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
, Oregon
Oregon
Oregon is a state in the Pacific Northwest region of the United States. It is located on the Pacific coast, with Washington to the north, California to the south, Nevada on the southeast and Idaho to the east. The Columbia and Snake rivers delineate much of Oregon's northern and eastern...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, and Washington.
On October 8, 2010, First Citizens filed a merger application with federal regulators, the Office of the Comptroller of the Currency
Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency is a US federal agency established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States...
and the Federal Reserve Bank of Richmond
Federal Reserve Bank of Richmond
The Federal Reserve Bank of Richmond is the headquarters of the Fifth District of the Federal Reserve located in Richmond, Virginia. It covers the District of Columbia, Maryland, Virginia, North Carolina, South Carolina and most of West Virginia. Branch offices are located in Baltimore, Maryland...
, and respective state banking departments in IronStone's footprint. IronStone Bank will continue to operate under its trade name. The change became official January 7, 2011.
First Citizens Bank entered into an agreement with the Federal Deposit Insurance Corp. (FDIC) to purchase substantially all the assets and assume the majority of the liabilities of United Western Bank, Denver, Colorado
Denver, Colorado
The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...
on January 21, 2011. Months later First Citizens took over the failed Colorado Capital Bank of Castle Rock, Colorado
Castle Rock, Colorado
The Town of Castle Rock is the county seat of Douglas County, Colorado, United States and is named for the prominent castle tower-shaped butte near the center of town. It is part of Colorado's Front Range Urban Corridor and is located roughly 28 miles south of Denver and 37 miles north of...
in a similar deal. It was the sixth FDIC-related agreement since July 2009. First Citizens now has 14 branches in Colorado, 3 of them IronStone.
History
First Citizens Bank, first known as the Bank of SmithfieldSmithfield, North Carolina
Smithfield is a town in Johnston County, North Carolina, United States. In 2008, the estimated population was 12,965. It is the county seat of Johnston County...
, opened on March 1, 1898.
- 1898 - established as the First-Citizens Bank & Trust Company
- 1971 - acquired The Haynes Bank of Cliffside, North Carolina
- 1974 - acquired The Bank of Coleridge in Ramseur, North CarolinaRamseur, North CarolinaRamseur is a town in Randolph County, North Carolina, United States. The population was 1,589 at the 2000 census.-Geography:Ramseur is located at ....
and The Bank of Commerce in Charlotte, North CarolinaCharlotte, North CarolinaCharlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009... - 1979 - acquired Bank of Conway in Conway, North CarolinaConway, North CarolinaConway is a town in Northampton County, North Carolina, United States. The population was 734 at the 2000 census. It is part of the Roanoke Rapids, North Carolina Micropolitan Statistical Area.-Geography:Conway is located at ....
- 1981 - acquired Commercial & Farmers Bank of Rural Hall, North CarolinaRural Hall, North CarolinaRural Hall is a town in Forsyth County, North Carolina, United States. It is a part of the Piedmont Triad. The population was 2,464 at the 2000 census.-Geography:Rural Hall is located at ....
and Commercial & Savings Bank of Boonville, North CarolinaBoonville, North CarolinaThis page is about the town in North Carolina. For other communities of the same name, see Boonville Boonville is a town in Yadkin County, North Carolina, United States... - 1983 - acquired Peoples Bank of North Carolina in Madison, North CarolinaMadison, North CarolinaMadison is a town located in Rockingham County, North Carolina. As of the 2000 census, the town had a total population of 2,262. It is home to the corporate headquarters of Remington Arms.-Schools:...
- 1985 - acquired First State Bank of Winterville, North CarolinaWinterville, North CarolinaWinterville is a town in Pitt County, North Carolina. The population was 4,791 at the 2000 census. In 2008, the estimated population is 8,586. The town is a part of the Greenville Metropolitan Area.-Geography:...
, Farmers Bank of Pilot Mountain, North CarolinaPilot Mountain, North CarolinaPilot Mountain is a town in Surry County, North Carolina, United States. The population was 1,477 at the 2010 census. It is named for the nearby landmark of Pilot Mountain, a distinctive geological formation...
, and Farmers Bank of Sunbury in Sunbury, North Carolina - 1990 - acquired Heritage Federal Savings and Loan Association of Monroe, North CarolinaMonroe, North CarolinaMonroe is a city in Union County, North Carolina, United States. The population was 36,397 as of the 2010 census. It is the seat of government of Union County and is also part of the Charlotte-Gastonia-Rock Hill, NC-SC Metropolitan area.-Geography:...
and North Carolina Savings and Loan Association, FA of Charlotte, North Carolina
- 1991 - acquired Mutual Savings and Loan Association of Charlotte, North Carolina and First Federal Savings Bank of Hendersonville, North CarolinaHendersonville, North CarolinaHendersonville is a city in Henderson County, North Carolina, USA, southeast of Asheville. In 1900, 1,917 persons lived in Hendersonville; in 1910, 2,818; and in 1940, 5,381 people lived here. As of the 2010 census, the city population was 12,223, up fivefold in one century. It is the county...
- 1993 - acquired Caldwell Savings Bank of Lenoir, North CarolinaLenoir, North CarolinaLenoir is a city in Caldwell County, North Carolina, United States. The population was 18,228 at the 2010 census. It is the county seat of Caldwell County. Lenoir is located in the Blue Ridge foothills. The city also contains the Brushy Mountains, a spur of the Blue Ridge Mountains...
, Surety Federal Savings and Loan Association, FA of Morganton, North CarolinaMorganton, North CarolinaMorganton is a city in Burke County, North Carolina, United States. Reader's Digest included Morganton in its list of top ten places to raise a family. The town was recently profiled in The 50 Best Small Southern Towns. The population was 17,310 at the 2000 census...
, and Pioneer Savings Bank of Rocky Mount, North CarolinaRocky Mount, North CarolinaRocky Mount is an All-America City Award-winning city in Edgecombe and Nash counties in the coastal plains of the state of North Carolina. Although it was not formally incorporated until February 28, 1867, the North Carolina community that became the city of Rocky Mount dates from the beginning of... - 1994 - acquired The Bank of Bladenboro in Bladenboro, North CarolinaBladenboro, North CarolinaBladenboro is a town in Bladen County, North Carolina, in the United States. As of the 2000 census, the town population was 1,718.-History:Development around Bladenboro, a farming community also known in its earliest days for its turpentine and lumber, began to take off after a railroad was built...
, Edgecomb Homestead Savings Bank of Tarboro, North CarolinaTarboro, North CarolinaTarboro is a city located in Edgecombe County, North Carolina. It is part of the Rocky Mount, North Carolina Metropolitan Statistical Area. As of 2010, the town had a total population of 13,121. It is the county seat of Edgecombe County. Tarboro is located in North Carolina's Inner Banks region...
, and First Republic Savings Bank FSBFederal savings associationsFederal savings associations , in the United States, are institutions chartered by the Office of Thrift Supervision pursuant to the provisions of the Home Owners' Loan Act, a U.S. federal statute...
of Roanoke Rapids, North CarolinaRoanoke Rapids, North CarolinaRoanoke Rapids is a city in Halifax County, North Carolina, United States. The population was 16,957 at the 2000 census. It is the principal city of the Roanoke Rapids Micropolitan Statistical Area.-Geography:... - 1995 - acquired First Investors Savings Bank of Whiteville, North CarolinaWhiteville, North CarolinaWhiteville is a city in Columbus County, North Carolina, United States. The population was 5,148 at the 2000 census. It is the only city of Columbus County and is the county seat....
and State Bank of Fayetteville, North CarolinaFayetteville, North CarolinaFayetteville is a city located in Cumberland County, North Carolina, United States. It is the county seat of Cumberland County, and is best known as the home of Fort Bragg, a U.S. Army post located northwest of the city.... - 1996 - acquired First-Citizens Bank & Trust Company of Lawrenceville, VirginiaLawrenceville, VirginiaLawrenceville is a town in Brunswick County, Virginia, United States. The population was 1,275 at the 2000 census. Located by the Meherrin River, it is the county seat of Brunswick County and home to historically black Saint Paul's College, founded in 1888 and affiliated with the Episcopal Church...
, Peoples Savings Bank of Wilmington, North CarolinaWilmington, North CarolinaWilmington is a port city in and is the county seat of New Hanover County, North Carolina, United States. The population is 106,476 according to the 2010 Census, making it the eighth most populous city in the state of North Carolina...
, and Summit Savings Bank of Sanford, North CarolinaSanford, North CarolinaSanford is a city in Lee County, North Carolina, United States. The population was 23,220 at the 2000 census. It is the county seat of Lee County.-Geography:Sanford is located at .... - 1997 - acquired First Savings Bank of Rockingham County in Reidsville, North CarolinaReidsville, North CarolinaReidsville is a city located in Rockingham County, North Carolina. As of the 2000 census, the city had a total population of 14,485.Originally established in the early 19th century as an outpost and stop on the stage line that ran between Salisbury, NC and Danville, VA called Wrights Crossroads,...
- 1998 - acquired First Citizens Bank & Trust Company of White Sulphur Springs, West VirginiaWhite Sulphur Springs, West VirginiaWhite Sulphur Springs is a city in Greenbrier County, West Virginia, United States. The population was 2,444 at the 2010 census.-Geography:White Sulphur Springs is located at ....
- 2003 - acquired Avery County Bank of Newland, North CarolinaNewland, North CarolinaNewland is a town in Avery County, North Carolina, United States. The population was 704 at the 2000 census. It is the county seat of Avery County. Before its founding, the area was known as Old Fields or Old Fields of Toe. In 1911 it was renamed Newland, after North Carolina Lieutenant Governor...
- 2009 - U.S. Bank National Association, a subsidiary bank of U.S. Bancorp, entered into a definitive agreement to purchase the bond trustee business of First Citizens Bank, a subsidiary of First Citizens BancShares.
- 2009 - acquired Temecula Valley Bank of Temecula, CaliforniaTemecula, CaliforniaTemecula is a city in southwestern Riverside County, California, United States with a population of 100,097 according to the 2010 United States Census, making it the lowest populated American city over 100,000 population. It was incorporated on December 1, 1989...
and Venture Bank of Lacey, WashingtonLacey, WashingtonLacey is a city in Thurston County, Washington, United States. Established as a suburb of Olympia, its population was 42,393 at the 2010 census out of a county population of 252,264.-History:... - 2010 - acquired First Regional Bank of Los Angeles, CaliforniaLos Angeles, CaliforniaLos Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
and Sun American Bank of Boca Raton, FloridaBoca Raton, FloridaBoca Raton is a city in Palm Beach County, Florida, USA, incorporated in May 1925. In the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. However, the majority of the people under the postal address of Boca Raton, about... - 2011 - changed IronStone BankIronstone BankThe Ironstone Bank is a community bank founded in 1997, and operating in most of the Southern United States. By 2008, it owned and operated approximately fifty-six branches....
to division from subsidiary - 2011 - acquired United Western Bank of Denver, ColoradoDenver, ColoradoThe City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...
- 2011 - acquired Colorado Capital Bank of Castle Rock, ColoradoCastle Rock, ColoradoThe Town of Castle Rock is the county seat of Douglas County, Colorado, United States and is named for the prominent castle tower-shaped butte near the center of town. It is part of Colorado's Front Range Urban Corridor and is located roughly 28 miles south of Denver and 37 miles north of...
Subsidiaries
| Name | Asset size |
|---|---|
| First-Citizens Bank & Trust Company | $18.2 billion |
| Ironstone Bank Ironstone Bank The Ironstone Bank is a community bank founded in 1997, and operating in most of the Southern United States. By 2008, it owned and operated approximately fifty-six branches.... |
$2.8 billion |