What bank did First Citizens Bank merge with?
First Citizens BancShares executed one of the most monumental bank mergers in modern financial history when it acquired Silicon Valley Bank out of FDIC receivership following its catastrophic collapse. This strategic transaction brought massive commercial liquidity, technology sector banking relationships, and extensive deposit portfolios under the First Citizens umbrella, instantly scaling its national footprint. Additionally, First Citizens previously completed a massive multi-billion-dollar merger with Capital Bank Corporation, expanding its traditional retail and commercial branch network significantly across the southeastern United States.
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First Citizens Bank operates primarily under its well-known consumer brand, but its official parent holding corporation and corporate identity traded on public markets is First Citizens BancShares, Inc..
The full legal name of the prominent American financial institution is First-Citizens Bank & Trust Company, operating as the primary banking subsidiary of First Citizens BancShares, Inc.