First Citizens Bank (NC)

Overview / Commentary
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 50th largest bank in the nation. It was established in 1898 and as of September of 2020, it had grown to 6,681 employees at 558 locations. First Citizens Bank (NC) has an A health rating.

Saving with a bank I trust

I have been banking with First Citizens since college. My mother used to visit the bank daily for work. When I opened my checking account, she introduced me personally to two bankers by name. The first banker eventually talked me into opening a savings account. It seemed odd at the time - I was more than broke. But once I graduated from high school and started my first real job, I piled as much money as I could into that savings account. Eventually, the other banker noticed I had three times the minimum in my account. He called me because he knew I wasn't getting the best interest rate on that money. I explained that I was getting ready to pay off a big debt in one chunk, but that I would keep his ideas in mind. Once that debt was paid, I took his advice seriously. Again I piled money into my savings account. And in my second year of my "real job," I walked into his office and asked him to help me set up a CD.

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.

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!!



Health Grade Components

FDIC Certificate #11063
Year Established1898
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.08%
Return on Equity - YTD11.4%
Annual Interest Income$1.11B
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$48.63B$37.67B
LoansQ3 2020vs Q3 2019$32.82B$27.10B
DepositsQ3 2020vs Q3 2019$42.32B$32.81B
Equity CapitalQ3 2020vs Q3 2019$4.49B$3.62B
Loan Loss AllowanceQ3 2020vs Q3 2019$223.9MM$226.8MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$181.1MM$128.8MM
Real Estate OwnedQ3 2020vs Q3 2019$52.8MM$46.1MM
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* 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

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

First Citizens Bank (NC) Money Market Rates

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

First Citizens Bank (NC) Checking Account Rates

0.01%-$1mPremier Checking
0.01%-$1mPrestige Checking

First Citizens Bank (NC) CD Rates

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


Raleigh Area

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