Banking Headquarters Puts Raleigh on National Stage

As reported by the Triangle Business Journal, First Citizens Bank, headquartered in Raleigh, announced it will acquire 138 branches in the Midwest, Great Plains, and West regions of the U.S. from BMO Bank N.A. ("BMO Bank").

Lauren Ohnesorge, Senior Reporter with the Triangle Business Journal, interviewed Kyle Touchstone, director of Raleigh Economic Development, about the expansion.

Raleigh Economic Development Director Kyle Touchstone said First Citizens is just one part of the Triangle’s finance story, and it's all adding up. Other firms that have planted roots here over the years include Credit Suisse (now UBS) and Deutsche Bank, and all are companies that economic developers have leveraged for additional corporate interest.

Touchstone said the success of major players helps him tell a better story for North Carolina. “It really just shows the strength of our market, that they’re headquartered here and growing,” he said.

You can read the full article on the Triangle Business Journal website.