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First Citizens Bank Announces $16 Billion Community Benefits Plan
First Citizens BankFebruary 22, 2021 GMT
RALEIGH, N.C., Feb. 22, 2021 (GLOBE NEWSWIRE) First Citizens Bank announced today a $16 billion community benefits plan developed in collaboration with the National Community Reinvestment Coalition (NCRC) that builds on its work to reinvest in low- and moderate-income (LMI) communities and neighborhoods of color.
Under this plan, First Citizens Bank would support lending and investing in the areas of affordable housing, small business and community development over a five-year period from 2021-2025, following completion of the proposed merger of First Citizens BancShares, Inc. (“First Citizens”), the parent company of First Citizens Bank, and CIT Group Inc. (“CIT”). ....

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