First Citizens has been pretty active on the West Coast front. Just last year they completed the acquisition of CIT Group, a New York bank that had just acquired OneWest Bank, which was a California-based banks. Regardless of who stays on the start-up front, this is still pretty major as it sets First Citizens up on the ranks of Citizens, 5/3, M&T, and Key Bank.
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I always wonder WTF that name is about.
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From a merger of Fifth National Bank and Third National Bank in 1908
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A better name than Truist.
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Teller, teller, behind the bars, who is the Truist of them all?
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I’m sure they’re going to level out but news of the deal for First Citizens has their shares through the roof today.
Raleigh-based First Citizens to acquire Silicon Valley Bank; shares soar 47% | WRAL TechWire
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I think that the bank should be named 1 and 2/3 bank.
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WSJ Editorial Board basically thinks this is a great steal of a deal for First Citizens. Glad it worked out in our favor, I think it could make a big impact on the area long term.
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Sounds like FC got all the rewards without the risks.
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Missed opportunity here. I realize RTP is the traditional tech hub, but…RALEIGH!
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Raleigh has not existed since IBM left for RTP
NH’s and DTS are the new DTR
DTR is where state government is trying to leave and only the wealthy can afford to live but everyone wants to go! How weird is that! God I need a drink…is it 5 o’clock yet? 
There was great TBJ article also and since SVB is now a division of FC they are working on SNB’s Venture Capital funding with startups. That will help with triangle startups as Bandwidth and others already bank with SVB. FC also got a bank that is twice its size. https://www.bizjournals.com/triangle/news/2023/03/28/first-citizens-bank-ceo-svb-customers-deposits.html.
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ProPharma, a life sciences consulting firm, is relocating its HQ from Kansas to DTR. Estimate to have 75-100 new jobs over the next two years. Taking three floors in a building that once housed Father and Son. (Not sure where their old location was).
https://mobile.twitter.com/newsobserver/status/1643388150809591808
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Neat! Their former location is the building on Hargett St. that was recently renovated to add a couple floors. There’s an urgent care on the bottom floor.
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Interesting, I thought FastMed had their corporate headquarters here as well. Maybe they just don’t take up much space?
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I honestly don’t know. I think it’s 5 floors total, so maybe 1 floor for FastMed, 1 for their offices, and 3 for this new company? 
Seems a nice win over a bigger KC market, and downtown to boot. Win win.
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??? 20 characters
Their old headquarters was in a KC suburb.
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Unfortunately, First Citizens’ SVB deal hasn’t been smooth sailing, they continue to struggle to retain customers.
SVB continues to bleed deposits, even after seeing them fall by $105B last month