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Frank Holding

Chairman and Chief Executive Officer, First Citizens BancShares, Inc.

Search every verified Frank Holding interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Frank Holding Jr., chairman and CEO of First Citizens BancShares, discussed the company's acquisition of approximately $72 billion in Silicon Valley Bank assets during a March 27, 2023, appearance on CNBC's "Squawk Box." He described the move as one that should instill confidence in the deposit system and noted that regulators and banks worked together to protect depositors. Holding said the purchase resulted from a competitive bidding process and that First Citizens' bid was evaluated on the quality of its proposal, competitiveness, and the strength, stability, and expertise it could bring to the transaction. Holding characterized First Citizens as a conservative relationship bank and said the company shared a passion for customer service with Silicon Valley Bank's clientele. He stated that the acquisition would build on existing strengths in private banking, wealth management, and small business banking, while adding capabilities in the technology and venture market. He also noted that the deal did not include Silicon Valley Bank's private bank, which federal regulators were still seeking a buyer for at the time.

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