First Citizens Explores Acquisition Targets to Exceed $250B in Assets
First Citizens (FCNCA) is exploring acquisition targets that could push it past the $250B asset mark, Lydia Beyoud and Yizhu Wang of Bloomberg reported, citing people familiar with the matter. The bank has reportedly asked advisers to compile a list of potential transactions as it looks to build scale and better absorb rising regulatory and compliance expenses. As part of that review, the company has weighed a possible deal for KeyCorp (KEY), according to sources.
