RALEIGH,
N.C., Jan. 3, 2024 /PRNewswire/ -- First
Citizens Bank today announced that its Middle Market
Banking business provided $16
million in financing to Raymour & Flanigan for the
purchase of an existing furniture showroom in White Plains, New York.
Raymour & Flanigan is the seventh largest furniture retailer
in the United States, operating
107 showrooms across the Northeast, as well as 34 outlet stores,
five clearance centers and a rapidly growing e-commerce
business.
The White Plains showroom is a
strategic addition to Raymour & Flanigan's footprint due to its
size and location near major commuter thoroughfares. The
70,000-square-foot showroom has two floors, and the building
includes a lower-level parking garage with ample covered parking
spaces in addition to surface parking. The building also contains a
passenger elevator, freight elevator and three loading docks.
"We appreciate First Citizens' capabilities in arranging
financing to support the purchase of this property. This furniture
showroom will allow us to provide a more robust and convenient
shopping experience to White
Plains and the surrounding area than our current location,"
said Adam Wasileski, director of
Real Estate at Raymour & Flanigan.
"Raymour & Flanigan is a leader in the furniture retail
industry," said Brendan Chambers,
head of First Citizens Middle Market Banking. "We are excited about
the opportunity to work with them as they expand their
business."
First Citizens Middle Market Banking delivers a range
of financial solutions to midsize clients through a relationship
banking model. The business offers deposit solutions, loans,
treasury services and other banking products to manufacturers,
distributors and a wide variety of service industries.
About First Citizens Bank
First Citizens Bank helps
personal, business, commercial and wealth clients build financial
strength that lasts. Headquartered in Raleigh, N.C., and now celebrating the 125th
anniversary of its founding, First Citizens has built a unique
legacy of strength, stability and long-term thinking that has
spanned generations. First Citizens offers an array of general
banking services including a network of more than 500 branches and
offices in 30 states; commercial banking expertise delivering
best-in-class lending, leasing and other financial services coast
to coast; innovation banking serving businesses at every stage; and
a nationwide direct bank. Parent company First Citizens BancShares,
Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with
more than $200 billion in assets.
Discover more at firstcitizens.com.
MEDIA RELATIONS:
Lexa Tutela
Losey
212-461-5305
Lexa.Tutela@firstcitizens.com
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SOURCE First Citizens Bank