First Citizens Bank (NC)


Overview / Commentary
919-716-7050
239 Fayetteville Street
Raleigh, NC 27601

First Citizens Bank (NC) is headquartered in Raleigh and is the 3rd largest bank in the state of North Carolina. It is also the 48th largest bank in the nation. It was established in 1898 and as of September of 2021, it had grown to 6,690 employees at 533 locations. First Citizens Bank (NC) has an A health rating.

The Best Kept Secret in Banking

This bank is insanely great for business banking. I own a business and it is the coolest thing in the world to have an actual banker that has been with a bank for more than 10 years. It's cool because most of the employees have been with the bank for 10+ years. They all give you their cell phone numbers so you never have to call 1800 Banker Bob...instead, it is literally a direct contact to the person that opens your accounts. Any question you have with a deposit or a merchant terminal, they handle it all. They don't have any fees for their accounts or anything as long as you use online statements, but let's be honest, who doesn't use online banking anymore? If you don't you should for your own financial security, but at any rate, that bank is the best ever!!

Life as a First Citizen

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As I recently moved to a new area I was in search of a new lcal bank. My parents were already members with First Citizens and so it was natural for me to join as well. I met with a representative and had my checkings account set up quickly. Beyond that not much was different then other institutions. However, two thinkgs stick out in my mind. I needed a new debit card, as my old one was no longer readable, and it was sent to me quickly. Also, the banks new app allows depositing a check by simply taking a picture of it with my phone...very convenient.

Not good

I have been using First Citizens for at least 15 years, and is the only bank I've had any savings/checking accounts with. Regularly I decide to change banks, but then end up not, because I just don't feel like the hassle of going through with it. Plus I do prefer using a local company and their branch is convenient. I have a savings account and money market account with First Citizens. The interest rates they give you are a complete joke, we spend way more in random fees. For example last year my checking account dropped below a certain amount (by 2-3 dollars), and they charged me $10 (more than how much I was below the threshold). I think all year I've made maybe $0.45 in interest. I have other accounts with them with more money, that would have me over the threshold. Awhile back I had to make a wire transfer to a family member - that banked there too, and they charged $25 for it. $25 to "Transfer" money from one person at their bank to another. Overall I have not been pleased with First Citizens.

Not Business Or Customer Friendly

I opened accounts (checking and savings) with First Citizens so that I could transfer my funds from a state-limited Credit Union and have more flexibility in my banking options. Later I became a small business owner and opened a business account with First Citizens. I deposited a small amount of money into the business account and I left it alone while I worked on other aspects of the business. Time passed and I tried to log into my account. Each time I tried to log in their system asked me to reset my password. I only log into my account from one device, from home so I don’t understand why the system has such difficulty validating my device. When I finally accessed my account, I discovered that it had been drained of almost 70% of my funds! Where did the funds go? The bank took the money via fees for a second user. Who is the second user? The bank! The only entity doing “business” in my business account was First Citizens Bank, bleeding it dry with their made-up fees. When I went to close all my accounts and complain to the bank, they (staff at the branch) acknowledged the “error” and refunded $22.50 in fees but not all the fees. If they acknowledged the error why not return ALL the funds?

First Citizens Bank is NOT a business-friendly or customer friendly bank. DO NOT do business with this company.

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Health

Health Grade Components

Overall
FDIC Certificate #11063
Year Established1898
Employees6690
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.03%
Return on Equity - YTD11.69%
Annual Interest Income$1.08B
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$56.82B$48.63B
LoansQ3 2021vs Q3 2020$32.50B$32.82B
DepositsQ3 2021vs Q3 2020$50.20B$42.32B
Equity CapitalQ3 2021vs Q3 2020$4.88B$4.49B
Loan Loss AllowanceQ3 2021vs Q3 2020$183.2MM$223.9MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$160.2MM$181.1MM
Real Estate OwnedQ3 2021vs Q3 2020$40.6MM$52.8MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not First Citizens Bank (NC); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Citizens Bank (NC) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%$25$1mOnline Savings (Online Only) - New Money

First Citizens Bank (NC) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.03%*$100k*-Money Market Savings
OTHER TIERS: 0.01% Up to $100k

First Citizens Bank (NC) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%-$1mPremier Checking
0.01%-$1mPrestige Checking

First Citizens Bank (NC) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$500-Business 36 Month CD
0.20%$500-Business 24 Month CD
0.15%$500-4 Year CD
0.15%$500-5 Year CD
0.10%$5k-1+ Year Premier CD w/ Checking Special
0.10%$500-Business 12 Month CD
0.05%$500-3 Year CD
0.05%$500-2 Year CD
0.02%*$50k*-1 Year Convertible CD Special
OTHER TIERS: 0.01% $500 - $50k
0.02%$500-18 Month CD
0.01%$500-12 Month CD
0.01%$500-6 Month Automatic Saver CD Special
0.01%$500-6 Month CD
Locations

Availability



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