First-Citizens Bank & Trust Company: SBA business acquisition lending record
First-Citizens Bank & Trust Company (home state NC) approved 173 SBA 7(a) loans to buy existing businesses since FY2018, totaling $230M. The median loan was $939,700. It ranks number 56 of 280 lenders by count and made 0.4% of all SBA acquisition loans nationally.
The purchase agreement decides what you bought, not the loan approval.
Request Engagement AssessmentAlex Lubyansky leads every engagement.
What this tells a borrower
- Deal size it funds. Half of its acquisition loans fell between $510,000 and $1,800,000. If your deal sits well outside that band, this lender may be less practiced at it.
- Geographic reach. North Carolina is the largest state (17% of loans). Loans appear in at least 15 states, which points to a national lender.
- Industry concentration. Full-Service Restaurants is 6% of its acquisition loans. The mix is spread across several industries.
- Overall 7(a) volume. 807 SBA 7(a) loans of any purpose since FY2020, totaling $790M. 97% of its acquisition loans were processed under the Preferred Lenders Program.
- Franchise share. 15% of its acquisition loans involved a franchise brand, against 18% for all lenders.
- Seasoned performance. Of its loans from FY2018 to FY2021: 3.7% charged off, 5% higher than the 3.5% national average.
First-Citizens Bank & Trust Company acquisition loans by year
| Fiscal year | Loans | Total approved | Median loan | |
|---|---|---|---|---|
| FY2018 | 24 | $17.7M | $411,800 | |
| FY2019 | 24 | $27.7M | $635,500 | |
| FY2020 | 9 | $6.2M | $582,000 | |
| FY2021 | 24 | $22.9M | $676,500 | |
| FY2022 | 11 | $12.8M | $935,000 | |
| FY2023 | 9 | $19.5M | $1,749,200 | |
| FY2024 | 13 | $20.1M | $1,000,000 | |
| FY2025 | 21 | $42M | $1,494,000 | |
| FY2026 | 38 | $61.5M | $1,409,100 |
How often do these acquisition loans fail?
Of the 81 First-Citizens Bank & Trust Company acquisition loans approved from FY2018 to FY2021 (the seasoned cohort, every loan at least about five years old), 3 have been charged off by the SBA, a rate of 3.7% by loan count and 2.8% by dollars. 40 have already been paid in full.
For comparison, the charge-off rate across all SBA 7(a) acquisition loans in the same cohort is 3.5%, so First-Citizens Bank & Trust Company is 5% higher than the acquisition-loan average. Non-acquisition 7(a) loans (every other stated purpose) approved FY2018 to FY2021 charged off at 6.2%.
"Charged off" is the SBA's final loss action on a defaulted loan after collection efforts. It lags default by a year or more, which is why only older cohorts are measured. It is not the same as a delinquency rate, and loans still outstanding can still fail. See charge-off in the glossary.
Seller note standby terms and third-party consents are reviewed before closing.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
States served
| # | State | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | North Carolina | 30 | 17.3% | $47.8M | |
| 2 | Florida | 25 | 14.5% | $28.4M | |
| 3 | California | 21 | 12.1% | $33.7M | |
| 4 | South Carolina | 14 | 8.1% | $18.1M | |
| 5 | Georgia | 12 | 6.9% | $22.8M | |
| 6 | Virginia | 12 | 6.9% | $15.1M | |
| 7 | Washington | 12 | 6.9% | $12.4M | |
| 8 | Texas | 10 | 5.8% | $14.5M | |
| 9 | Tennessee | 5 | 2.9% | $3.3M | |
| 10 | Colorado | 5 | 2.9% | $2.7M | |
| 11 | Maryland | 3 | 1.7% | $4.7M | |
| 12 | Massachusetts | 3 | 1.7% | $3.9M | |
| 13 | Oregon | 3 | 1.7% | $2.6M | |
| 14 | Kansas | 2 | 1.2% | $3.1M | |
| 15 | Oklahoma | 2 | 1.2% | $2.9M |
Industries financed
| # | Industry | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Full-Service Restaurants | 10 | 5.8% | $15.1M | |
| 2 | Offices of Chiropractors | 8 | 4.6% | $4.9M | |
| 3 | Offices of Dentists | 7 | 4.0% | $9.5M | |
| 4 | Child Care Services | 5 | 2.9% | $7.2M | |
| 5 | Landscaping Services | 5 | 2.9% | $4.6M | |
| 6 | Pharmacies and Drug Retailers | 4 | 2.3% | $9.3M | |
| 7 | Offices of Certified Public Accountants | 4 | 2.3% | $8.6M | |
| 8 | Pet and Pet Supplies Retailers | 4 | 2.3% | $3.6M | |
| 9 | General Automotive Repair | 4 | 2.3% | $2.6M | |
| 10 | Hotels (except Casino Hotels) and Motels | 3 | 1.7% | $8.8M |
Terms signed in the LOI shape the purchase agreement that follows.
Request Engagement AssessmentFree consultation. All 50 states.
Franchise brands financed
| # | Franchise | Loans | Share | Dollars | |
|---|---|---|---|---|---|
| 1 | Wild Birds Unlimited | 4 | 2.3% | $3.6M | |
| 2 | The UPS Store | 3 | 1.7% | $1.6M | |
| 3 | Pure Barre | 2 | 1.2% | $1.2M | |
| 4 | Rodeway Inn | 1 | 0.6% | $3.3M | |
| 5 | Motel 6 | 1 | 0.6% | $3.2M | |
| 6 | The Goddard School | 1 | 0.6% | $3.1M | |
| 7 | SureStay | 1 | 0.6% | $2.3M | |
| 8 | Jimmy John's | 1 | 0.6% | $1.3M | |
| 9 | Woodcraft | 1 | 0.6% | $1.2M | |
| 10 | Goosehead Insurance | 1 | 0.6% | $842K |
Questions buyers ask
Does First-Citizens Bank & Trust Company make SBA acquisition loans?
Yes. First-Citizens Bank & Trust Company approved 173 SBA 7(a) loans to buy existing businesses from FY2018 to FY2026, ranking number 56 of 280 lenders with 25 or more such loans. The SBA file shows past approvals only; it cannot tell you whether the lender will approve a particular buyer or deal.
How large are First-Citizens Bank & Trust Company's acquisition loans?
The median was $939,700, with the middle half between $510,000 and $1,800,000. The national median is $645,250, so this lender's typical loan is 46% higher than the national figure.
Which states does First-Citizens Bank & Trust Company lend in?
North Carolina (30), Florida (25), California (21), South Carolina (14), Georgia (12), Virginia (12). Its loans span at least 15 states.
Which industries does First-Citizens Bank & Trust Company finance?
Full-Service Restaurants (10), Offices of Chiropractors (8), Offices of Dentists (7), Child Care Services (5), Landscaping Services (5). The top industry is 6% of its acquisition loans.
How have First-Citizens Bank & Trust Company's acquisition loans performed?
Of 81 loans approved FY2018 to FY2021: 3.7% charged off, 5% higher than the 3.5% national acquisition average. Charge-offs reflect the borrowers and industries a lender serves as well as its underwriting.
That draft favors the seller. We review it for the buyer, line by line.
Submit Transaction DetailsAlex Lubyansky leads every engagement.
Advertise on this site: lenders, brokers, valuation and insurance firms. See options
Related
- North Carolina acquisitions
- Florida acquisitions
- California acquisitions
- Full-Service Restaurants
- Offices of Chiropractors
- Offices of Dentists
- All lenders
Figures are aggregates of public SBA data. This page is not provided or endorsed by First-Citizens Bank & Trust Company.