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  5. First Citizens Bank Acquires Capitol City Bank & Trust Co.

M&A Deal Summary

First Citizens Bank Acquires Capitol City Bank & Trust Co.

On February 13, 2015, First Citizens Bank acquired financial services company Capitol City Bank & Trust Co. from Federal Deposit Insurance

Acquisition Highlights
  • This is First Citizens Bank’s 4th transaction in the Financial Services sector.
  • This is First Citizens Bank’s 4th transaction in the United States.
  • This is First Citizens Bank’s 1st transaction in Georgia.

M&A Deal Summary
Date 2015-02-13
Target Capitol City Bank & Trust Co.
Sector Financial Services
Buyer(s) First Citizens Bank
Sellers(s) Federal Deposit Insurance
Deal Type Divestiture

Target

Capitol City Bank & Trust Co.

Atlanta, Georgia, United States
Capitol City Bank & Trust Co. is a provider of commercial banking services. As of Jan. 30, 2015, Capitol City Bank & Trust Company reported total assets of $275 million, including total loans and leases of $192 million, and total deposits of $264 million.

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Buyer(S) 1

Buyer

First Citizens Bank

Raleigh, North Carolina, United States
Category Company
Founded 1898
Sector Financial Services
Employees17,191
Revenue 9.7B USD (2024)
DESCRIPTION

First Citizens Bank operates as the holding company for First-Citizens Bank & Trust Company. Bank serves customers at more than 550 branches in 20 states. First Citizens Bank was incorporated in 1898 and is based in Raleigh, North Carolina.

DEAL STATS #
Overall 4 of 10
Sector: Financial Services M&A 4 of 10
Type: Divestiture M&A Deals 3 of 6
State: Georgia M&A 1 of 1
Country: United States M&A 4 of 10
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-28 1st Financial Services

Hendersonville, North Carolina, United States

1st Financial Services Corp. is a provider of commercial banking products and services through its subsidiary, Mountain 1st Bank & Trust Company. 1st Financial Services Corp. operates 12 branches in western North Carolina communities through Mountain 1st Bank, with $692 million in assets, $669 million in deposits and $363 million in loans as of June 30, 2013.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-11 North Milwaukee State Bank

Milwaukee, Wisconsin, United States

North Milwaukee State Bank is a provider of financial services and products to customers. As of Dec. 31, 2015, North Milwaukee State Bank reported total assets of $67.1 million, including total gross loans of $41.5 million. Total deposits reported were $61.5 million.

Buy -

Seller(S) 1

SELLER

Federal Deposit Insurance

Washington, District of Columbia, United States
Category Company
Founded 1933
Sector Financial Services
DESCRIPTION

Federal Deposit Insurance Corp. provides financial services.The FDIC provides coverage for deposits in national banks, in state banks that are members of the Federal Reserve System, and in other qualified state banks.

DEAL STATS #
Overall 38 of 41
Sector: Financial Services M&A 38 of 41
Type: Divestiture M&A Deals 38 of 41
State: Georgia M&A 22 of 22
Country: United States M&A 38 of 41
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-07 Mountain National Bank

Sevierville, Tennessee, United States

Mountain National Bank, is a provider of financial services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-11 North Milwaukee State Bank

Milwaukee, Wisconsin, United States

North Milwaukee State Bank is a provider of financial services and products to customers. As of Dec. 31, 2015, North Milwaukee State Bank reported total assets of $67.1 million, including total gross loans of $41.5 million. Total deposits reported were $61.5 million.

Sell -
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