Social media spurred the last banking crisis. Can it prevent the next one? [Yahoo! Finance]
First Citizens BancShares, Inc. - Class A (FCNCA)
US:NASDAQ Investor Relations:
firstcitizens.com/about/who-we-are/annual-report
Company Research
Source: Yahoo! Finance
The California-based bank was a favorite of the tech industry, including venture capitalists and startup founders who began to raise concerns about the firm's balance sheet on platforms like Twitter , Discord, and Telegram. Panicked customers withdrew $42 billion on a single day, which led to the second-largest bank failure in U.S. history. Just as the 2008 crisis rewrote the playbook on bank failures, regulators are still working to parse the circumstances that led to the undoing of Silicon Valley Bank and two other institutions that collapsed the same month: The crypto-focused Silvergate and Signature . Academics and politicians began to immediately finger social media as a potential culprit, with House Financial Services Chair Patrick McHenry (R-N.C.) describing Silicon Valley Bank as the "first Twitter-fueled bank run" in a statement on March 12, 2023. Despite such rhetoric, social media was likely a symptom more than the cause of Silicon Valley Bank's failure, which came abou
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News
- The best CD rates on the market for May 2024 [Yahoo! Finance]Yahoo! Finance
- First Citizens Bank Provides $74 Million for Multifamily Building in Downtown Brooklyn [Yahoo! Finance]Yahoo! Finance
- First Citizens Bank Provides $74 Million for Multifamily Building in Downtown BrooklynPR Newswire
- A year after buying SVB, is Raleigh's First Citizens Bank ready to go on offense? [Yahoo! Finance]Yahoo! Finance
- Silicon Valley Bank To Sell $9.8 Billion Venture Capital Arm For $340 Million, A Year After $1.8 Billion Collapse [Yahoo! Finance]Yahoo! Finance
FCNCA
Earnings
- 4/25/24 - Beat
FCNCA
Sec Filings
- 5/10/24 - Form 4
- 5/9/24 - Form 10-Q
- 5/7/24 - Form 4
- FCNCA's page on the SEC website