First Citizens has quadrupled its asset base from 2021 to 2023 through two large acquisitions: CIT Group and Silicon Valley Bridge Bank. After spending much of 2022–24 on integration and client-retention efforts, the bank is now focusing on improving its funding profile and continuing its investments in risk management and technology. We expect the bank to remain open to acquisitions, albeit with strict price discipline. That said, SVBB was a unique transaction, and replicating a similarly value-creating deal at that scale will be difficult.