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First-Citizens Bank & Trust Company Announces Another Early Termination of Loss Share Agreements!Thursday, March 30, 2017
Congratulations to First Citizens BancShares, Inc (Nasdaq: FCNCA) & First-Citizens Bank & Trust Company (First Citizens) of Raleigh, North Carolina for successfully terminating their FDIC loss share agreements on their sixth failed bank receivership: Venture Bank.
As of March 29, 2017 First Citizens will now recognize entirely all future gains, recoveries, charge-offs, losses and expenses related to the formerly covered assets with no offset to the FDIC.
DD&F served as an advisor to First Citizens in successfully terminating their shared loss agreements with the FDIC and would like to congratulate all of the First Citizens team. We wish you continued success!
DD&F has completed 68 buyouts so far, or 41% of all the deals completed and have saved our clients over $115MM in true-up savings.
Additionally, we have recently completed buyouts for Southern Bank and Trust Company (on 3/7/17), Oriental Bank (on 2/7/17), Mutual of Omaha Bank (on 1/30/17), Huntington Bancshares/FirstMerit Bank (on 1/25/17), IBERIABANK (on 21/21/16) and Renasant Bank (on 12/8/16).
DD&F has assisted with by far the most buyouts in the country and has assisted in 18 of the last 23 successful buyouts.
We would be happy to sit down and talk with you or your team at our expense about how we can help you get out of loss share. Even better, at no cost to you, we can evaluate your true-up and give you an estimate of how much in savings we can find.Back to News and Events