Silicon Valley Bank (SVB Commercial Franchise)
2023
$16.5B
Outcome
Added roughly $72 billion in loans and $56 billion in deposits, instantly transforming First Citizens into the premier tech bank.
First Citizens BancShares
Financial Services & Commercial BankingFounded 1898- HQ today: Raleigh, North Carolina, USA
Reviewed by Swet Parvadiya
Company data updated: November 2026
Acquisitions
First Citizens BancShares Acquisitions
3
Major Deals Covered
$18.9B
Disclosed Deal Value
What are First Citizens BancShares's biggest acquisitions?
First Citizens BancShares's largest disclosed acquisition here is Entegra Financial for $219 in 2020. This page covers 3 major deals from 2020 to 2023, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- Largest deal
- Entegra Financial ($219)
- First deal
- 2020
- Most recent
- 2023
| Company | Year | Price | Purpose |
|---|---|---|---|
| Silicon Valley Bank (SVB Commercial Franchise) | 2023 | $16.5B | — |
| CIT Group | 2022 | $2.2B | — |
| Entegra Financial | 2020 | $219.0M | — |
- What companies has First Citizens BancShares bought?
- Major acquisitions by First Citizens BancShares documented here include Entegra Financial (2020), Silicon Valley Bank (SVB Commercial Franchise) (2023) and CIT Group (2022).
- What is First Citizens BancShares's most recent acquisition?
- The most recent First Citizens BancShares acquisition documented here is Silicon Valley Bank (SVB Commercial Franchise), in 2023, for $16.5.
CIT Group
2022
$2.2B
Outcome
Doubled company assets to over $100 billion and diversified commercial lending across nationwide industrial verticals.
Entegra Financial
2020
$219M
Outcome
Added 18 branch locations and roughly $1.6 billion in local retail and small business banking assets.
First Citizens BancShares's Growth & Acquisition Strategy
The bank's growth roadmap focuses on deepening market share across the technology and life sciences innovation economy, expanding wealth management advisory for high-net-worth tech entrepreneurs, and optimizing its Southeastern retail branch deposit base to fund national commercial expansion.
How First Citizens BancShares Makes Money
First Citizens operates a diversified commercial, venture, and retail banking business model. It generates net interest income by gathering low-cost retail deposits across its traditional branch footprint in North Carolina, the Southeast, and California, while deploying these assets into commercial middle-market loans, residential mortgages, and specialized venture capital lines of credit. Through its Silicon Valley Bank division, First Citizens earns lucrative non-interest fees from venture fund capital call lines, corporate treasury management for tech startups, life science specialty lending, foreign exchange, and private wealth advisory for tech founders.
First Citizens BancShares Acquisitions FAQ
Does First Citizens BancShares acquire other companies?
Yes, First Citizens BancShares executes targeted acquisitions to integrate complementary technologies, expand intellectual property, and enter new market verticals.
What is First Citizens BancShares's acquisition strategy?
First Citizens BancShares focuses on bolt-on acquisitions that can be rapidly integrated into its core technology architecture and commercial distribution channels.
How does First Citizens BancShares fund its acquisitions?
Acquisitions are typically funded through cash from operations, revolving credit facilities, and strategic equity considerations.
What was one of First Citizens BancShares's notable acquisitions?
First Citizens BancShares has acquired specialized technology assets that enhance its core platform capabilities and expand its addressable customer base.
How does First Citizens BancShares handle post-merger integration?
By migrating acquired codebases into its unified cloud infrastructure and retaining key engineering talent within specialized innovation pods.
Are acquisitions a primary or secondary growth driver?
Inorganic growth is secondary to robust organic product development, serving as a tactical accelerator for specific strategic capabilities.
Related M&A Histories
Compare corporate acquisition records, deal values, and strategic targets
Explore First Citizens BancShares
Core profile pages, founders and related research hubs for this company.