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First Citizens Names Mike Spencer Middle Market Banking Leader in Georgia

1. Mike Spencer joins First Citizens as Managing Director of Middle Market Banking. 2. Spencer aims to expand banking presence in Georgia and nearby markets. 3. He has extensive experience in specialty sectors including manufacturing. 4. First Citizens focuses on high-touch client banking for businesses over $75mm. 5. Company continues to grow post-acquisition and serves numerous regional clients.

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FAQ

Why Bullish?

The addition of a seasoned professional like Spencer signals growth potential, consistent with historical trends where leadership changes positively influenced stock prices in the banking sector.

How important is it?

The news reflects strategic growth initiatives in a key sector for First Citizens, likely influencing investor sentiment positively.

Why Long Term?

Spencer's strategic focus on expanding market presence should yield substantial benefits over time, mirroring past successful expansions of financial institutions.

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30-year industry veteran to support Middle Market banking clients throughout Georgia , /PRNewswire/ -- First Citizens Bank today announced that Mike Spencer has joined the company as  Managing Director of Middle Market Banking in Atlanta. In this role, Spencer will expand First Citizens' middle market banking presence throughout Georgia and nearby markets. Mike Spencer "Mike's deep sector expertise, coupled with a proven track record of building long-term client relationships to help businesses reach their full potential, make him an excellent addition to our team," said Matt Tollenaer, Managing Director and Market Leader of First Citizens Middle Market Banking. "He brings ample experience with specialty sectors such as manufacturing, wholesale and distribution, which will further enhance growth within our middle market banking business." Spencer joins First Citizens from Synovus, where he spent the past eight years growing the middle market platform and expanding the footprint to five southeastern states. His highly developed skillset includes commercial and corporate banking. He previously held relationship management and leadership roles with both Wells Fargo and JPMorgan Chase.  A graduate of the University of Houston and active member in his community, Spencer serves on advisory boards for Children's Healthcare of Atlanta, the Georgia Chamber of Commerce and the Association for Corporate Growth.First Citizens' middle market banking practice has served clients in Georgia and surrounding regions since 2022. First Citizens' middle market platform focuses on delivering a high-touch client centric banking experience offering a comprehensive suite of product solutions to customers above $75mm of revenue.In other recent Atlanta-area leadership appointments, First Citizens Wealth announced Erin McCaskill as Director and Market Leader. About First Citizens BankFirst Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services with branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com. Media ContactKatie Ellis[email protected]SOURCE First Citizens Bank

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