North Carolina—particularly Charlotte and Raleigh—serves as a major global and national banking capital in the United States. Bank of America maintains its massive corporate headquarters in Charlotte, operating as one of the largest multinational financial institutions in the world. Additionally, Truist Bank is headquartered in Charlotte following its historic merger, and First-Citizens Bank & Trust Company (First Citizens Bank) is headquartered in Raleigh, managing an extensive nationwide commercial and retail banking footprint.