First Citizens Bancshares Inc's Business Segments

First Citizens BancShares, Inc. (BancShares) was incorporated under the laws of Delaware on August 7, 1986, to become the holding company of First-Citizens Bank & Trust Company (FCB), its banking subsidiary. FCB opened in 1898 as the Bank of Smithfield, Smithfield, North Carolina, and later became First-Citizens Bank & Trust Company. BancShares has expanded through de novo branching and acquisitions and now operates in 18 states and the District of Columbia providing a broad range of financial services to individuals, businesses and professionals.

Throughout its history, the operations of BancShares have been significantly influenced by descendants of Robert P. Holding, who came to control FCB during the 1920s. Robert P. Holding’s children and grandchildren have served as members of the Board of Directors, as chief executive officers and in other executive management positions and, since our formation in 1986, have remained shareholders controlling a large percentage of our common stock.

First Citizens Bancshares Inc. is a financial institution that operates primarily in the United States, providing a diverse range of banking products and services designed to meet the needs of individuals, businesses, and institutional clients. Below is an extensive description of the various segments, products, and services offered by First Citizens Bancshares Inc.

Banking Segments

1. Retail Banking
- Personal Banking Accounts: This segment includes checking and savings accounts, certificates of deposit (CDs), and money market accounts. First Citizens provides various account options with competitive interest rates, online banking features, and mobile banking services for easy account management.
- Loans: Retail banking also encompasses a range of loan products, including personal loans, auto loans, and home equity lines of credit. These products cater to the financial needs of individual customers, with flexible terms and competitive interest rates.

2. Commercial Banking
- Business Checking and Savings Accounts: Designed for small to mid-sized enterprises, these accounts provide business owners with cash management solutions, including operational accounts, interest-earning accounts, and merchant services to facilitate transactions.
- Loans and Credit: This segment includes commercial loans, lines of credit, and equipment financing. First Citizens Bancshares Inc. offers tailored lending solutions to help businesses grow, adapt, and manage their cash flow effectively.
- Treasury Management Services: These services aim to streamline financial operations and enhance liquidity management for businesses. Services include payment processing, fraud detection, and cash concentration solutions.

3. Wealth Management
- Investment Services: First Citizens provides investment management services, which include portfolio management, retirement planning, and access to various investment products like mutual funds, stocks, and bonds.
- Trust and Estate Services: These services cater to high-net-worth individuals and families, providing trust administration, estate planning, and fiduciary services to help clients manage their wealth and pass it on to future generations.
- Financial Advisory Services: Personalized financial advice is available to guide clients in making informed decisions about their investments, retirement plans, and overall financial strategy.

4. Mortgage Services
- Home Loans: First Citizens offers a variety of mortgage products, including fixed-rate and adjustable-rate mortgages, FHA and VA loans, and refinancing options. They cater to first-time buyers, veterans, and those looking to refinance existing loans.
- Home Equity Solutions: These include home equity lines of credit (HELOCs) and home equity loans, allowing homeowners to access the equity in their homes for various purposes, such as home improvements or debt consolidation.

5. Corporate Banking
- Commercial Real Estate Financing: This service supports businesses in acquiring or refinancing commercial properties. First Citizens provides term loans, construction financing, and bridge loans tailored to real estate investors and developers.
- Capital Markets Services: These services may include access to debt and equity capital markets, underwriting, and advisory services for mergers and acquisitions or other strategic transactions.

6. Insurance Services
- First Citizens Bancshares also offers insurance products, including life, health, property, and casualty insurance. These products help individuals and businesses manage risk and secure their financial well-being.

Digital Banking Services

- Online and Mobile Banking: First Citizens emphasizes convenience through robust digital banking platforms, allowing customers to manage their accounts, transfer funds, pay bills, and apply for loans from their computers or mobile devices.
- Mobile Wallet and Payment Solutions: The bank provides options for digital payments through mobile wallets, making transactions easier and more secure.
- Financial Education Resources: The bank offers various resources and tools to help customers better understand financial products, budgeting, and investment strategies.

Customer Service and Support

- Branch Network: First Citizens maintains a network of branches where customers can access personalized service, including financial advice, account management, and loan processing.
- Customer Support: The institution offers support through phone, email, and online chat, ensuring customers can receive assistance with their banking needs.

Community Involvement

First Citizens Bancshares Inc. engages in community activities, including educational initiatives, financial literacy programs, and support for local nonprofits. This involvement highlights the institutions commitment to making a positive impact on the communities it serves.

In summary, First Citizens Bancshares Inc. offers a comprehensive suite of banking products and services aimed at individuals, businesses, and institutions. Their segments cover various banking needs, including retail banking, commercial banking, wealth management, mortgage services, corporate banking, and insurance, all supported by modern digital banking capabilities and a strong commitment to customer service and community engagement.