First Citizens Bank is owned by First Citizens BancShares, a publicly traded holding company

First Citizens BancShares, Inc. is the parent company that owns First Citizens Bank. BancShares is a publicly traded corporation, which means its shares trade on the NASDAQ stock exchange under the ticker FCF. The company is headquartered in Raleigh, North Carolina, and has been operating since 1829.

Because BancShares is publicly traded, it is owned by its shareholders — individual investors, institutional funds, and other entities that hold stock in the company. No single person or family controls the bank outright. The company operates under a board of directors and a chief executive officer who report to shareholders.

First Citizens BancShares owns multiple banking subsidiaries beyond First Citizens Bank itself, including First Citizens Bank & Trust Company and other regional banks it has acquired over time. When you hold an account at First Citizens Bank, your deposits and transactions are ultimately managed by this larger corporate structure.

Key Takeaways

  • First Citizens BancShares is a publicly traded company, meaning ownership is distributed among shareholders rather than held by a single person or family.
  • The bank operates under federal and state regulation, and your deposits are insured by the FDIC up to $250,000 per account type.
  • Ownership structure does not affect how your account works or how your money is protected — those protections exist regardless of who owns the bank.
  • First Citizens BancShares has acquired other banks over the years, so the corporate structure has changed, but the bank's core operations remain the same.

How public ownership affects the bank's operations

Because First Citizens BancShares is publicly traded, the company must file financial reports with the Securities and Exchange Commission (SEC) and disclose information about its operations, profits, and risks to shareholders. This transparency requirement means information about the bank's financial health is available to the public.

Public ownership also means the bank must answer to shareholders and a board of directors. Major decisions — like acquisitions, dividend payments, or strategic changes — require board approval and are often discussed in shareholder meetings. This structure is different from a privately held bank, where decisions might rest with a single owner or small group.

The bank still operates under the same federal and state banking regulations as any other institution. Ownership structure does not change the rules the bank must follow or the protections that cover your deposits.

FDIC protection regardless of ownership

Your deposits at First Citizens Bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per account type, per depositor, per bank. This protection exists because the bank is an FDIC-insured institution — not because of who owns it.

If First Citizens BancShares faced financial trouble, the FDIC would step in to protect depositors. The FDIC maintains a separate insurance fund for this purpose and does not rely on the bank's owner to cover losses. Your account protection is a legal may provide, independent of the company's stock price or shareholder decisions.

You can verify First Citizens Bank's FDIC insurance status on the FDIC's website by searching for the bank's name and location. The FDIC certificate number and coverage details are also available through the bank itself.

Changes in ownership through acquisitions

First Citizens BancShares has grown partly through acquiring other banks and financial institutions. When a bank is acquired, the parent company (BancShares in this case) takes control of its operations, but existing customer accounts typically continue to function without interruption. Account numbers, online banking access, and deposit protections usually remain the same.

If you hold an account at a bank that is acquired by First Citizens BancShares, you will receive notice of the change. The bank will explain any changes to fees, services, or account terms that result from the acquisition. You are not required to move your money — your account remains protected by FDIC insurance under the new ownership.

How to find information about First Citizens BancShares

First Citizens BancShares files quarterly and annual reports with the SEC. These documents, called 10-Q (quarterly) and 10-K (annual) filings, contain detailed financial information and are available free on the SEC's EDGAR database. You can search by the company name or ticker symbol (FCF).

The company also publishes investor relations information on its website, including press releases about earnings, acquisitions, and strategic announcements. This information is intended for shareholders and investors but is open to the public.

If you have questions about your specific account or how ownership affects your banking relationship, contact First Citizens Bank directly. Customer service representatives can explain how the bank's structure affects your account and answer questions about fees, services, or account features.

Frequently Asked Questions

Does it matter to me that First Citizens Bank is publicly owned rather than privately owned?

For most account holders, ownership structure does not affect daily banking. Your deposits are insured the same way, fees and services work the same way, and regulations apply the same way. The main difference is that public ownership means financial information about the company is disclosed to the public and shareholders.

What happens to my account if First Citizens BancShares goes bankrupt?

Your deposits are protected by FDIC insurance up to $250,000 per account type. If the bank failed, the FDIC would either arrange for another bank to take over your account or pay out your insured deposits directly. Your money is protected regardless of the parent company's financial condition.

Can I find out who the major shareholders of First Citizens BancShares are?

Yes. The company's proxy statement (filed annually with the SEC) lists major shareholders and their holdings. You can also find current ownership information on financial websites like Yahoo Finance or Google Finance, which track large institutional shareholders and insider holdings.

Has First Citizens Bank always been owned by First Citizens BancShares?

No. First Citizens Bank was founded in 1829 and operated independently for many years. First Citizens BancShares was formed later as a holding company to manage the bank and other subsidiaries. The exact timeline of when the holding company structure was established varies by which First Citizens entity you are asking about, as the company has multiple regional banks under its umbrella.