First Citizens BancShares, Inc. operates as the financial holding company for First-Citizens Bank & Trust Company, one of the largest family-controlled banks in the United States. The company provides a full suite of retail and commercial banking products and services to individuals, businesses, and professionals. Its operations are organized into several key segments: the General Bank segment, which offers consumer and business banking through a vast network of branches and digital platforms; the Commercial Bank segment, which provides middle-market lending, leasing, capital markets, and wealth management services; the Silicon Valley Bank (SVB) Commercial segment, which caters to the innovation economy, including technology and healthcare companies, as well as private equity and venture capital firms; and the Rail segment, which offers customized leasing and financing solutions for railcars and locomotives across North America. First Citizens generates revenue primarily through net interest income from its diverse loan portfolio—which includes commercial, industrial, and residential mortgages—as well as noninterest income from wealth management, service charges, and leasing fees. The bank has grown significantly through strategic acquisitions, most notably its purchase of CIT Group in 2022 and the assets of Silicon Valley Bank in 2023, transforming it into a top 20 U.S. financial institution with a nationwide footprint.
