Chairmans Letter, continued
First Citizens meets customers with the right products and services wherever they are
on the financial lifecycle spectrum from individuals and businesses with basic needs and brand-new banking relationships to those focused on managing their well-earned wealth. In 2018 we introduced Sure Advantage, a no-frills checking product
geared toward helping account holders build stronger banking histories.
For merchant services customers, we introduced a new, automated and paperless
onboarding platform that significantly improves the customer experience. In addition, our wealth management capabilities are on a solid growth trajectory. Weve continued to evolve our premier relationship banker and licensed platform associate
programs to better serve customers, and in 2018 we surpassed $1 billion in assets under management.
And underlying all of our customer-focused efforts
are more than 1,000 internal process improvements and policy changes that help bankers better serve clients.
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Of course, at the heart of our bank what comprises our very essence is our associates. We continually endeavor to
hire and promote the very best people because thats what our customers and communities deserve. In October, we strengthened our executive leadership team with the addition of Chief Risk Officer Lorie Rupp, a 28-year financial services industry
veteran with a five-year tenure at First Citizens. We welcome her valuable insight and extensive expertise in both risk management and finance, which will serve our executive leadership team and our entire company very well.
In 2018, accomplished bankers assumed leadership roles in key markets and major
departments, including new area and regional executives in Arizona, Florida, Oklahoma, Tennessee, Texas and Wisconsin. We also have new senior leadership on the credit administration, human resources, digital strategy and credit card operations
teams.
Of course, at the heart of our bank what comprises our very essence
is our associates. We continually endeavor to hire and promote the very best people because thats what our customers and communities deserve. In October, we strengthened our executive leadership team with the addition of Chief Risk
Officer Lorie Rupp, a 28-year financial services industry veteran with a five-year tenure at First Citizens. We welcome her valuable insight and extensive expertise in both risk management and finance, which will serve our executive leadership team
and our entire company very well.
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In 2018, accomplished bankers assumed leadership roles in key markets and major departments, including new area and regional
executives in Arizona, Florida, Oklahoma, Tennessee, Texas and Wisconsin. We also have new senior leadership on the credit administration, human resources, digital strategy and credit card operations teams.
We bid a fond farewell to Jay Parker as he recently retired from our corporate board. Id like to thank him for his years of service not only to the
board, but also for his decades-long executive contributions to First Citizens.
These leaders and all of our associates make a difference in the
communities where we live and work, beyond providing banking excellence. First Citizens Forever First spirit was on full display throughout 2018 as our associates responded to disasters from the destructive fires in California to the
devastation wreaked by Hurricane Florence on the east coast.
We also made significant progress in furthering the development of our main corporate
philanthropy, and are thrilled that North Carolinas Duke Cancer Institute and the University of North Carolina Lineberger Comprehensive Cancer Center have joined the Teen Cancer America hospital ranks in the Southeast. Along with Bons Secours
St. Francis Health System in Greenville, S.C., they are partnering with TCA and First Citizens to improve their offerings to teens and young adults with cancer.
My fathers passing last year prompted many of us to reflect on the foundation that he, my grandfather and other First Citizens pioneers worked so hard
to establish. What an honor it is to contribute to our banks continued growth, and to the prosperity of our customers and communities. Id like to express my thanks to everyone who is a part of the First Citizens legacy our board,
our associates and you, our shareholders. Im so very proud of what were achieving together.
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Sincerely,
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Frank B. Holding, Jr.
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March 11, 2019
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Member FDIC. Equal Housing
Lender
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