Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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

First Citizens BancShares Inc. (FCNCA: Quote) 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.

Register
To receive FREE breaking news email alerts for First Citizens Bancshares Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After moving modestly higher in morning trading, stocks showed a substantial move to the downside over the course of the trading day on Wednesday. The major averages pulled back well off their highs for the session, sliding firmly into negative territory. Ebola "czar" Ron Kain is scheduled to meet with President Barack Obama on Wednesday as he begins his efforts to coordinate the government's response to the deadly disease. Klain, who previously served as chief of staff to Vice President Joe Biden and then-Vice President Al Gore, was named as Ebola Response Coordinator last Friday. Potentially complicating the outlook for control of the Senate, the results of a SurveyUSA poll conducted for WXIA-TV in Atlanta suggest that the Georgia Senate race between Republican David Perdue and Democrat Michelle Nunn could be headed for a runoff.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.