First Citizens Bank Routing Number: From Family Dynasty to SVB Acquirer

The acquisition that changed everything

On March 27, 2023, First Citizens BancShares acquired the assets of Silicon Valley Bank from the FDIC in one of the most consequential bank deals in recent memory. SVB had collapsed just two weeks earlier in the second-largest bank failure in US history, sending shockwaves through the startup ecosystem. First Citizens - a relatively low-profile regional bank based in Raleigh, North Carolina - stepped in with a deal that included roughly $72 billion in SVB assets at a $16.5 billion discount.

Overnight, First Citizens went from a $109 billion regional institution to a top-20 US bank with $218 billion in assets. The acquisition also gave First Citizens a footprint in Silicon Valley, Boston, and other tech hubs where it had no prior presence - along with an entirely new customer base of venture-backed startups, tech companies, and private equity firms.

What happened to SVB customers

When First Citizens acquired SVB, existing SVB customers initially retained their Silicon Valley Bank routing number (121140399) and account numbers. The FDIC-managed transition ensured continuity; direct deposits, ACH payments, and wire transfers continued to process without interruption during the handover.

Over the following months, First Citizens began integrating SVB accounts into its own systems. Former SVB customers received new First Citizens account details, including routing number 053100300 for most accounts. However, Silicon Valley Bank continues to operate as a division of First Citizens Bank with some distinct branding, and the transition timeline varied by account type. Former SVB clients should verify their current routing number through First Citizens online banking, as the migration may have assigned a different routing number depending on the account's state and type.

A family-owned banking dynasty since 1898

Long before the SVB deal, First Citizens had a remarkable story of its own. The bank was founded in 1898 in Smithfield, North Carolina, by Robert Powell Holding. Four generations of the Holding family have led the institution, making it one of the longest family-controlled banks in the United States. Frank Holding Jr. has served as CEO since 2008.

The family's conservative, acquisition-driven growth strategy (over 25 FDIC-assisted acquisitions since the 2008 financial crisis) positioned First Citizens perfectly for the SVB opportunity. The bank had built deep expertise in absorbing failed institutions quickly and efficiently, a skill set that made it the FDIC's preferred buyer when SVB collapsed.

First Citizens routing numbers by region

First Citizens' primary routing number is 053100300, tied to its North Carolina headquarters and the Federal Reserve Bank of Richmond. However, because the bank grew through acquisitions of other regional institutions - including CIT Group in 2022 - some accounts carry different routing numbers depending on which institution originally held the account.

For wire transfers, the routing number is the same: 053100300. The SWIFT code for incoming international wires is FCNBUS55. As First Citizens continues integrating its various acquired brands, the bank has been consolidating routing numbers, but the process takes time. Always check your online banking account details for the routing number currently assigned to your specific account.

Startup-speed banking for every stage of growth

First Citizens' SVB acquisition proved that even the most innovative banking clients need a stable institution behind them. Slash combines that stability with the speed and flexibility that modern businesses demand: instant virtual card issuance, real-time spend tracking, and seamless accounting integrations. Whether you are a two-person startup or a scaling company outgrowing its first bank, Slash delivers operational financial tools without the uncertainty of wondering whether your bank will be around next quarter.