First Citizens Bank Essay

1187 Words 5 Pages
Jibriel Mijalli
T/TH 9:30AM Steinke First Citizens Bank was founded in 1979 by a group of local businessmen with one purpose in mind: to provide a healthy banking environment for local business and individuals. The doors first opened on July 8, 1980, operating underling a local management and conservative governing philosophy. First Citizens Bank mission is to be able to continually improve in management and technological improvements so they can always offer the same or better support offered by larger banks. “On March 19, 2010, First Citizens Bank, in Crenshaw County, Alabama, acquired First Lowndes Bank, expanding our service area to Butler and Lowndes counties. The branches are located in Luverne, Fort Deposit, Greenville, Hayneville and Highland Home”("Company History | First Citizens Bank"). Each branch aim to meet and exceed customer’s expectations with excellent customer service. “First Citizens Bank growth throughout the years has been a direct result
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As of 2016 there total assets is $237,988,000 placing them under peer group 5. This means “insured commercial banks having assets between $100 million and $300 million, with 3 or more full service banking offices and not located in a metropolitan statistical area”(List Of Banks in Peer Group).Some financial facts that are stated on the website are “ Average assets $277,289,000, Tier One Capital: $23,787,000, Tier Two Capital: $1,407,000” (Financial Facts First Citizens Bank). The difference between Tier 1 Capital and Tier 2 Capital is that, “Tier 1 capital is the primary funding source of the bank while Tier 2 capital includes hybrid capital instruments”(Tier 1 Capital). These two function as the banks reserves if they were to incur a loss that could significantly affect operations. The branch that I’ll primarily be focusing on is the Alabama, Luverne

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