US-based First Citizens Bank, led by the Holding family since 1964, has announced it will become the country’s largest family-owned bank when it merges with another independent bank, which it also owns a controlling stake in, this November.
The deal, which sees the North Carolina bank join hands with the similarly named First Citizens Bank and Trust of South Carolina, is worth between $636.9 million (€471 million) and $676.4 million.
