First Citizens Bancshares Inc /De/ (NASDAQ: FCNCA)

First Citizens BancShares, Inc. operates as a bank holding company that provides a broad range of financial services to individuals businesses and professionals. The company’s primary subsidiary First Citizens Bank & Trust Company maintains an extensive branch network primarily in the Southeast Mid Atlantic Midwest and Western United States. In addition to traditional banking the firm offers wealth management private banking capital markets and equipment leasing activities. As of December 31 2025 the entity held total consolidated assets of approximately 229.7 billion dollars. The firm’s history is closely tied to the founding family which continues to hold a significant equity stake and to occupy key leadership positions.

The company generates revenue primarily from interest income on loans and securities as well as from fee based services such as wealth management brokerage and trust activities. Its loan portfolio includes commercial loans residential mortgages and asset based lending to businesses. Deposit gathering provides a stable low cost funding source that supports net interest income. Fee based revenue also comes from card services cash management and advisory offerings to corporate and institutional clients. The diversified mix of interest and non interest income helps to stabilize earnings across different economic cycles.

The company operates through the following segments: General Bank Commercial Bank and Rail.

• General Bank delivers services to individuals and businesses through an extensive branch network and various digital channels offering a full suite of deposit products loans primarily business loans and residential mortgages wealth management private banking and various fee based services. It provides private banking and wealth management solutions to consumers including private equity and venture capital professionals and executive leaders of innovation companies they support. The segment offers a variety of wealth management products and services to individuals and institutional clients including brokerage investment advisory and trust services. It also provides deposit cash management and lending solutions to homeowner associations and property management companies.

• Commercial Bank provides lending leasing capital markets and other financial advisory services primarily to small and middle market companies across a variety of industries. It offers a full suite of commercial deposit liquidity management and international products to commercial clients. The segment supplies a full suite of financial products and services to private equity firms venture capital firms and commercial clients in innovation markets such as technology life sciences and healthcare. It also provides asset based lending factoring receivables management and secured financing services.

• Rail provides equipment leasing and secured financing to railroads and shippers.

First Citizens BancShares, Inc. holds a strong regional presence ranking as the third largest bank by deposit market share in North Carolina and the fourth largest in South Carolina according to FDIC data. Its primary competitors in these markets include Bank of America Truist Bank and Wells Fargo as well as numerous regional and local financial institutions. The company differentiates itself through a relationship based approach that emphasizes long term client partnerships and a deep understanding of local economies. A combination of an extensive branch network a nationwide digital banking platform and a diversified product mix provides a competitive advantage in attracting and retaining customers across consumer commercial and specialty segments. These strengths enable the firm to maintain stable profitability while navigating a highly competitive financial services landscape.

The company serves a broad mix of customers ranging from individual consumers and small businesses to larger corporations and institutional investors. Its retail client base includes households professionals and homeowner associations that use deposit accounts mortgages and wealth management services. On the commercial side the firm works with small and middle market companies across various industries as well as private equity and venture capital firms that require financing and advisory support. Additionally First Citizens BancShares, Inc. provides specialized services to companies in the technology life sciences and healthcare sectors and offers equipment leasing to railroads and shippers. This diverse customer foundation helps to balance revenue streams and reduce reliance on any single sector.