logo
Plus   Neg
Share
Email
Comment

First Citizens Bank Closes Merger With 1st Financial Services, Mountain 1st Bank

First Citizens BancShares Inc. (FCNCA) announced that the previously announced merger of 1st Financial Services Corp. and its subsidiary, Mountain 1st Bank & Trust Co., into First Citizens BancShares's subsidiary First-Citizens Bank & Trust Company was completed on Wednesday, January 1.

The former Mountain 1st branches in western North Carolina opened today (Thursday, Jan. 2) as First Citizens Bank locations.

In December, the shareholders of Hendersonville, N.C.-based 1st Financial voted to approve the merger agreement with Raleigh, N.C.-headquartered First Citizens. The merger was also approved by the Federal Deposit Insurance Corp. and the North Carolina Commissioner of Banks.

The bank noted that Customers should bank as they normally do at their existing branches. Mountain 1st customer accounts are expected to be converted to First Citizens' systems in spring 2014. Customers will be notified in writing of the transition.

In the meantime, customers should continue to use their Mountain 1st Bank checks, ATM, debit and credit cards. They will still have online access to their accounts. Mountain 1st customers already can use any First Citizens ATM with no surcharge fees on cash withdrawals, the bank noted.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
BlackRock Inc., the world's largest asset manager, said it plans to speak with gun makers and distributors following public outcry after the Florida high school shooting that killed 17 people. BlackRock, which had $6.3 trillion in assets under management as of December 31, 2017, holds shares in gun makers Sturm Ruger & Co. Inc. as well as American Outdoor Brands Corp. An upgraded boarding in Southwest Airline will cost you more. The airline usually not assign seats to passengers, but one can choose from an open seat. The Upgraded Boarding will allow passengers to choose from A1 - A15 boarding positions. The cost for these positions would be $30, $40 and $50, depending on flight and route. This option can be availed from the ticket counter or gate. Citigroup Inc.'s co-head of mergers and acquisitions, Peter Tague, is leaving the company, according to media reports, citing people familiar with the matter. Tague has been co-head of Global M&A business at Citigroup since March 2012, alongside Cary Kochman and Mark Shafir. It was not immediately clear what Tague intends to do after he leaves Citigroup.
comments powered by Disqus
Follow RTT