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The Latest Breaking News from First Citizens

Regional Bank Near All-Time High 10 Months After Buying Silicon Valley Bank

First Citizens Bank is near a buy zone after earnings. It has an ideal EPS Rating while its other ratings are also high.

Investors Business Daily

First Citizens Approaches Buy Point Near Record Highs; SVB Boost Fuels 91% Rally In 2023

First Citizens Approaches Buy Point Near Record Highs; SVB Boost Fuels 91% Rally In 2023

IBD Stock Of The Day: First Citizens BancShares is actionable near record highs as its Silicon Valley Bank purchase fuels a major rally.

Investors Business Daily

How This IBD 50 Regional Bank Made Rare Triple-Digit Earnings Growth

How This IBD 50 Regional Bank Made Rare Triple-Digit Earnings Growth

First Citizens is among the best bank stocks to buy and watch in today's stock market. The regional bank boasts triple-digit earnings growth.

Investors Business Daily

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First Citizens Bank to cut hundreds of former Silicon Valley Bank jobs

In a companywide email Wednesday morning, First Citizens Chairman and CEO Frank Holding Jr. said his Raleigh, North Carolina-based bank is laying off former employees of Silicon Valley Bank, the failed financial institution that First Citizens purchased two months ago.

Tribune News Service

Banks Are About to Get Hit With Nasty Fees For a Change

The FDIC voted on a plan Thursday to replenish the deposit insurance fund that was hit in the recent bank collapses.

With the collapse of SVB, venture debt is drying up

An important source of funding for startups is harder to come by, and while private loans are an alternative they’re much more expensive.

FDIC chair Gruenberg gets heat from lawmakers over bargain basement SVB deal

Shares in regional lender First Citizens skyrocketed this week after scooping up SVB on the cheap, prompting questions from Congress whether the FDIC negotiated a poor deal that will now cost banks $20 billion.

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Midcap-Stock Manager Likes a Bank That's Prominent in the News

Midcap-Stock Manager Likes a Bank That's Prominent in the News

Hunter Doble of Hotchkis & Wiley says middle-capitalization stocks combine strengths of small and large caps. He offers specific investment ideas.

How A $700M Tech VC Firm Was Saved From SVB Collapse, And Why Its CEO Still Banks There

How A $700M Tech VC Firm Was Saved From SVB Collapse, And Why Its CEO Still Banks There

The collapse of Silicon Valley Bank has sounded an alarm for the entire banking sector as a VC Tech still banks there

SVB Failure Due To Mismanagement, Regulators Say; First Republic No Longer For Sale

SVB Failure Due To Mismanagement, Regulators Say; First Republic No Longer For Sale

Lawmakers grilled U.S. financial regulators Tuesday on the Silicon Valley Bank and Signature Bank failures during a Senate hearing.

Investors Business Daily

Here's how First Citizens should approach the SVB acquisition, according to experts

Here's how First Citizens should approach the SVB acquisition, according to experts

Communicating quickly to try and retain the best clients is a pivotal move.

"Badwill" hunting: The difference between the bank failures of 2008 and today

"Badwill" hunting: The difference between the bank failures of 2008 and today

The difference between the bank failures of 2008 and today.

FTSE 100 Live: FTSE closes at 7484, French bank raids, Next buys Cath Kidston

London’s main share index rose in morning trade, with banks once again keeping prominent slots on the leaderboard. However, much of the rally fizzled out as the day went on amid tax raids of a number of French banks, leaving the FTSE around where it started the day.

Evening Standard

FDIC grants First Citizens rare credit line for SVB

First Citizens BancShares Inc.’s acquisition of Silicon Valley Bank came with an unusual provision: a $70 billion line of credit, courtesy of the Federal Deposit Insurance Corp.

Tribune News Service

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Investors Business Daily

Dow Jones Futures: Bitcoin, Tesla In Focus After First Citizens Deal Sparks Mixed Stock Market Reaction

Dow Jones futures: Bitcoin and Tesla were in focus after the First Citizens-Silicon Valley Bank deal sparked a mixed stock market reaction.

ASX follows global gains; restaurants, cafes and bars most at risk from consumer 'recession' — as it happened

The local share market rises strongly. Retail sales slow, raising questions about the Reserve Bank's next move. Here's how it unfolded on the ABC News markets blog.

Stock Market Today: Stocks Finish Mostly Higher After First Citizens Buys SVB Assets

The Nasdaq closed lower, though, as mega-cap tech stocks declined.

Jim Cramer's Fascinating Take on the Sale of Failed Silicon Valley Bank

It may not be all bad news.

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Bank Stocks Rally: First Citizens Buys Silicon Valley Bank; Officials Weigh More Support

Bank stocks rallied as First Citizens agreed to buy Silicon Valley Bank while officials mull more First Republic support. KeyCorp got an upgrade.

Tribune News Service

First Citizens Bank will buy Silicon Valley Bank

RALEIGH, N.C. — Raleigh’s First Citizens Bank is buying most of Silicon Valley Bank, the tech-focused financial institution which collapsed earlier this month.

Investors Business Daily

Dow Jones Rallies 300 Points On Silicon Valley Bank Purchase; First Republic Soars 31%

The Dow Jones rose 250 points Monday, as First Citizens bought FDIC-controlled Silicon Valley Bank. First Republic Bank soared 30%

First Citizens Buy of SVB Could Boost Confidence in Banking System

Regional bank stocks are moving higher Monday following a late-night agreement by First Citizens to buy the assets of failed lender Silicon Valley Bank.

Stocks Higher, First Citizens Purchase, Inflation Data Focus, Bank Deposits Flee, Israel Protests - Five Things To Know

Stock futures higher as bank stocks rebound; Week Ahead: inflation data in focus as Fed rate bets fade; First Citizens agrees to buy Silicon Valley bank loans, deposits; U.S. bank stocks higher, but deposit outflows quicken and Israel protests deepen pressure on Prime Minister Netanyahu.

Stocks Set to Open Higher as SVB Deal Calms Banking Sector Fears

June S&P 500 futures (ESM23) are up +0.34%, and June Nasdaq 100 E-Mini futures (NQM23) are up +0.15% this morning as market participants welcomed the news that First Citizens BancShares had agreed to acquire Silicon Valley Bank’s deposits and loans.

Evening Standard

Family run US bank rescues tech lender Silicon Valley Bank

FAILED tech lender Silicon Valley Bank was taken over today by First Citizens in a deal that will cost about $20 billion but offered hope that the crisis of confidence in the global banking system could be easing.

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