First Citizens BancShares, Inc. operates as the bank holding company for First-Citizens Bank & Trust Company that provides a range of financial services to individuals, businesses, and professionals. The company operates in 18 states and the District of Columbia. As of December 31, 2015, the company operated branch offices at 559 locations in Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, New Mexico, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington and West Virginia and the District of Columbia. Services offered at most of the company’s offices include taking of deposits, cashing of checks and providing for individual and commercial cash needs; various checking and savings plans; commercial, business and consumer lending; a full-service trust department; wealth management services; and other activities incidental to commercial banking. The bank’s wholly-owned subsidiaries, First Citizens Investor Services, Inc. (FCIS); First Citizens Securities Corporation Inc. (FCSC); and First Citizens Asset Management, Inc., provide various investment products, including annuities, discount brokerage services and third-party mutual funds to customers primarily through the company’s branch network, as well as investment advisory services. FCSC merged into FCIS effective January 2016. A major portion of the company’s revenue is derived from its operations throughout North Carolina, South Carolina, and Virginia and in certain urban areas of Georgia, Florida, California and Texas. The company delivers products and services to its customers through its branch network, as well as online banking, telephone banking, mobile banking, and various ATM networks. The company’s primary deposit markets are North Carolina and South Carolina. Loan Portfolio As of December 31, 2015, the company’s loan portfolio included commercial loans comprising construction and land development loans, commercial mortgage loans, other commercial real estate loans, commercial and industrial loans, lease financing, and other loans; and noncommercial loans comprising residential mortgage loans, revolving mortgage loans, construction and land development loans, and consumer loans. Investment Securities As of December 31, 2015, the company’s investment securities included U.S. treasury; government agency securities; mortgage-backed securities; other securities; and equity securities. Deposits As of December 31, 2015, the company’s deposits included demand deposits, checking with interest deposits, money market accounts, savings accounts, and time deposits. Regulation As a financial holding company registered under the Bank Holding Company Act of 1956, as amended, the company is subject to supervision, regulation, and examination by the Federal Reserve Board. The company is also registered under the bank holding company laws of North Carolina and is subject to supervision, regulation, and examination by the North Carolina Commissioner of Banks. The bank is a state-chartered bank, subject to supervision and examination by, and the regulations and reporting requirements of, the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks. Deposit obligations are insured by the Federal Deposit Insurance Corporation to the maximum legal limits. The Consumer Financial Protection Bureau has the authority to examine the bank for compliance with a range of federal consumer financial laws and regulations, including the laws and regulations that relate to credit card, deposit, mortgage and other consumer financial products and services that the company offers. Pursuant to Sections 23A and 23B of the Federal Reserve Act and Regulation W, the authority of the bank to engage in transactions with related parties or ‘affiliates’ or to make loans to insiders is limited. The bank is subject to the requirements of the Community Reinvestment Act of 1977. The bank is also subject to certain consumer laws and regulations that are designed to protect consumers in transactions with banks. These laws include the Truth in Lending Act, the Truth in Savings Act, the Electronic Funds Transfer Act, the Expedited Funds Availability Act, the Equal Credit Opportunity Act, Real Estate Settlement Procedures Act, Home Mortgage Disclosure Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Fair Housing Act, and the Servicemembers Civil Relief Act, among others. History First Citizens BancShares, Inc. was founded in 1893. The company was incorporated under the laws of Delaware in 1986.
first citizens bcshs -cl a
4300 Six Forks Road
Raleigh, NC 27609
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