First Citizens Bancorporation, Inc. · Columbia, SC United States ·(OTC: FCBN)
Company Description
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This link will open in a new window First Citizens Bancorporation is the holding company for First Citizens Bank and Trust Company, which has more than 170 branches in South Carolina and Georgia, and The Exchange Bank of South Carolina, which has four branches. In 2008 the company bought the six-branch Merchants and Farmers Bank in rural northeastern Georgia, which kept its name. The banks provide standard products and services for individuals and businesses, including checking and savings accounts, credit cards, and online banking. Residential and commercial mortgages comprise most of First Citizens Bancorporation's loan portfolio. Lease financing and construction, business, land, and consumer loans round out the banks' lending activities. To read the full description, subscribe now.
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Key First Citizens Bancorporation, Inc. Financials
| Company Type | Public - OTC: FCBN Headquarters |
| Fiscal Year-End | December |
| 2007 Sales (mil.) | $279.7 |
| Employees | 1,785 |
First Citizens Bancorporation, Inc. Executives
30 executives listed for First Citizens Bancorporation, Inc.'s Columbia, SC location.
| Title | Name & Bio | Contact |
| Chairman, President, and CEO | Jim Apple | Network |
| Vice Chairman | Frank Holding | Network |
| EVP, COO, and Director; President and COO, First Citizens Bank and Trust | Peter Bristow | Network |
Competition
Competitive Landscape for First Citizens Bancorporation, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top First Citizens Bancorporation, Inc. Competitors
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