[Mar 27, 2023 12:20 AM] The Federal Deposit Insurance Corp. also acquired equity appreciation rights in the parent of First Citizens Bank, which is potentially worth up to $500 million.
[Mar 26, 2023 8:52 PM] Raleigh, N.C.-based First Citizens is the 30th largest bank in the U.S., with $109 billion in assets, and recently completed an acquisition of New York-based commercial lender CIT.
[Mar 22, 2023 12:59 PM] The holding company needs access to the FDIC-locked funds in order to pay back its creditors and support its two external operations, says Kleinberg, Kaplan partner, Dov Kleiner.
[Mar 17, 2023 6:37 AM] The company said on Friday it had filed for court-supervised reorganization in the United States Bankruptcy Court for the Southern District of New York to preserve value.
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