Moody's affirms First-Citizens Bank & Trust Company's ratings (deposits at A1/Prime-1); outlook remains stable
Rating Action: Moody's affirms First-Citizens Bank& Trust Company's ratings; outlook remains stable. Global Credit Research- 01 Apr 2019. New York, April 01, 2019-- Moody's Investors Service has today affirmed the ratings of First-Citizens Bank& Trust Company, the operating bank subsidiary of unrated First Citizens BancShares, Inc., a financial holding company based in Raleigh, North Carolina, following the affirmation of the bank's a3 standalone baseline credit assessment.First Citizens BancShares is a holding company. Through its banking subsidiary, First-Citizens Bank & Trust Co. (FCB), the company provides a range of retail and commercial banking services. Loan services include various types of commercial, business and consumer lending. Deposit services include checking, savings, money market and time deposit accounts. The company's subsidiaries also provides mortgage lending, a trust department, wealth management services for businesses and individuals and other activities incidental to commercial banking. FCB's subsidiaries provide various investment products including annuities, discount brokerage services and third-party mutual funds.
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