Two First Citizens bank units merge

Raleigh-based First Citizens BancShares' two bank subsidiaries - First Citizens Bank and First Citizens Bank and Trust - have officially merged, marking the second step in the integration of the two businesses.

The parent companies of the two banks merged into First Citizens BancShares in September. Raleigh's Holding family owned a controlling stake in both banks, and the combined business is the nation's largest family-controlled bank with more than 570 branches in 18 states and the District of Columbia.

With the merger of the two banks effective as of Jan. 1, the unified brand going forward is First Citizens Bank.

However, signs for the more than 175 former First Citizens Bank and Trust branches in South Carolina and Georgia haven't yet been switched.

"We're still mapping out a plan for that," said spokeswoman Barbara Thompson.

Also yet to come is combining the two banks' operating systems, including their IT systems and products and services. That's expected to occur in the second half of this year.

The merger "not only strengthens our presence as a leading bank headquartered in the Southeast, but it also will allow us to offer services to more people and businesses and gives us a solid foundation for the future," CEO Frank Holding Jr. said in a statement.

Customers of both of the merged banks can continue to use their current checks, debit cards and credit cards.

This story was originally published January 2, 2015 at 2:47 PM with the headline "Two First Citizens bank units merge."