The six-person executive team that will lead Raleigh’s First Citizens Bank after it completes its purchase of a 176-branch South Carolina bank will include two executives of the acquired bank — one of whom married into the Holding family.
The Holding family owns a controlling interest in both the Raleigh bank and the South Carolina bank with a similar name that is being acquired, First Citizens Bank and Trust. The combination of the two banks, which was announced earlier this month and is technically a merger, will create the nation’s largest family-controlled bank with more than 575 branches in 18 states and the District of Columbia.
As previously announced, Frank Holding Jr., chairman and CEO of the Raleigh-based bank, will head the combined bank.
Other members of the six-person executive leadership team that will be installed when the deal is completed were unveiled Tuesday. Each of the executives will have identical titles with the combined bank and its corporate parent, publicly traded First Citizens BancShares.
Bristow’s annual base salary will be $625,000.