First Citizens BancShares

First Citizens BancShares

Full-service bank offering loans and investments

Quantitative Analysis Intern

Summer 2027Posted on 9/21/2026Deadline 9/21/27
No salary listed
Internship
Raleigh, NC, USA
In Person

About the job

Requirements
  • High School Diploma or GED and 1 year of experience.
  • Currently enrolled at an accredited collegiate institution during the summer program.
  • Ability to work 40 hours per week for the duration of the program.
  • Strong quantitative background.
  • Experience with statistical software such as SAS.
  • Familiarity with classic econometric models.
  • Ability to code from scratch.
Responsibilities
  • Collect data for consumer credit statistical models.
  • Conduct research and describe data.
  • Build statistical models for consumer credit.
  • Examine model results and drive conclusions.
  • Write reports for review by individual business units.
  • Write the necessary code for the process.
  • Participate in weekly team meetings to review progress.
  • Contribute to research, analytics, projects, strategy, process review and improvement, and technology enhancement assessment and support as assigned.
  • Attend professional development sessions, informational meetings, networking, and community service events.
  • Complete an assigned project designed to improve a process or solve a problem and present it to local leaders and key stakeholders.
  • Prepare and deliver a wrap-up presentation outlining accomplishments and internship experience.
Desired Qualifications
  • Majoring in Math, Engineering, Computer Science, or Finance.
  • Experience with SAS or other quantitative software.
  • Ability to write code.
  • Minimum 3.0 GPA.
  • Strong verbal and written communication skills with a desire to learn and grow.
  • Positive attitude, curiosity, and willingness to collaborate.
  • Critical thinking skills.
  • Ability to multitask.
  • Ability to adapt and adjust priorities based on business needs.
  • Ability to take direction and absorb information quickly.

About the company

First Citizens BancShares

First Citizens BancShares

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First Citizens BancShares operates First Citizens Bank, offering a full range of financial services for individuals and businesses. Its products include checking and savings accounts, credit cards, mortgages and auto loans, personal loans, online and mobile banking, wealth management and investment services, insurance, and small business banking. The core product set is accessed via online and mobile platforms, branch networks, and ATM access, with features like online statements, bill pay, direct deposit, and rewards programs. The bank positions itself through a broad suite of banking and financial services tailored to different customer segments such as personal, business, and wealth customers, emphasizing integrated banking experience and customer support. Overall, the goal is to help customers manage money, borrow for major needs (homes, vehicles, education), invest for future goals, and protect their financial security through a range of financial products and advisory services.

Company Size

10,001+

Company Stage

IPO

Headquarters

Raleigh, North Carolina

Founded

1898

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Simplify's Take

What believers are saying

  • September 2026 BMO branch conversion added 138 branches and roughly $5 billion deposits.
  • Second-quarter 2026 net income reached $672 million, with deposits rising $2.59 billion.
  • A 2.5% stress capital buffer through 2028 preserves capital flexibility for repurchases and lending.

What critics are saying

  • HSBC litigation over Silicon Valley Bank trade secrets continues after the August 2026 ruling.
  • The $300 million perpetual preferred stock permanently sits ahead of common shareholders on dividends.
  • If deposit integration fails after BMO, funding stress can choke growth and trigger retrenchment.

What makes First Citizens BancShares unique

  • First Citizens built scale through the 2023 SVB rescue and 2026 BMO branch deal.
  • Its equipment finance, Global Fund Banking, and specialty lending deepen niche client relationships.
  • The bank combines consumer branches with Direct Bank and wealth services across the franchise.

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Benefits

Hybrid Work Options

Company News

Minichart
Sep 14th, 2026
First Citizens BancShares raises $300M in 7.5% perpetual preferred stock

First Citizens BancShares has raised $300 million through a public offering of perpetual preferred stock. The bank issued 300,000 depositary shares at $1,000 each, with net proceeds of approximately $297 million after underwriting costs. The Series F preferred stock pays a fixed 7.5% annual dividend until September 2031, after which it converts to a floating rate tied to the five-year Treasury rate plus 2.894%. The stock is perpetual and non-cumulative, with no required redemption date. The offering adds $300 million in Tier 1 capital but creates a senior claim ahead of common shareholders on dividends and liquidation. If First Citizens misses a full quarterly dividend, it generally cannot pay dividends on or buy back common stock during the next period. The underwriting syndicate included Morgan Stanley, BofA Securities, J.P. Morgan Securities, and Wells Fargo Securities as lead bookrunners.

PR Newswire
Sep 14th, 2026
First Citizens Bank provides $157M to refinance Morningstar Properties' self-storage fund

First Citizens Bank has provided $157 million in financing to Morningstar Properties, a leading investor and operator of self-storage facilities, marinas, and other specialty real estate assets. The funding will refinance Blue Doors Storage Fund IV, which invests in self-storage properties across major US metropolitan and strategic secondary markets. The facility is part of a multi-year relationship between First Citizens and Morningstar Properties. Wesley Carter, CFO of Morningstar Properties, said First Citizens' Middle Market Banking team has been a trusted partner supporting the growth of their Blue Doors platform. First Citizens Bank is a top 20 US financial institution with more than $225 billion in assets. Morningstar Properties, founded in 1981, has developed, acquired, and operated over 250 self-storage projects totalling more than 15 million square feet.

PartnerCap
Sep 11th, 2026
First Citizens commits $2.5M investment and $100K grant to expand Appalachian community capital access

Partner Community Capital (PCAP), a community development financial institution serving West Virginia, North Carolina, and Appalachia, has received a $2.5 million Equity Equivalent Investment and a $100,000 Community Reinvestment Act grant from First Citizens Bank. The funding will support PCAP's efforts to provide financing to small businesses, nonprofits, and community organisations across the region. The $2.5 million investment will give PCAP flexible capital to expand lending activities and finance projects underserved by traditional financing. The grant will further support community development work in underserved areas. PCAP president Marten Jenkins said the partnership enables the organisation to reach more entrepreneurs and communities needing capital. First Citizens' Damon Williams emphasised the bank's commitment to advancing economic opportunity through strategic investments in Appalachia.

Grow Omaha
Sep 8th, 2026
First Citizens Bank completes conversion of former BMO branches.

First Citizens Bank completes conversion of former BMO branches. September 8, 2026 First Citizens Bank has now converted the 138 branches that it acquired from BMO Bank N.A. on September 4, expanding its presence across the Midwest, Great Plains and West. Raleigh, North Carolina-based First Citizens Bank assumed approximately $5 billion in deposits and $650 million in loans as part of the branch acquisition. With the acquisition, First Citizens went from three branches in the Omaha-Lincoln area to 20. More news briefs. Sep 7, 2026 The Omaha Planning Board has approved a Tax Increment Financing package for the recently announced apartment project at the former Lutheran Family Services property at 24th & Dodge Street. Approximately $3.6 million in TIF would be awarded to help finance the $39 million project. The developer, GreenSlate Development, plans to build a 5-story, 186-unit apartment building with 87 covered parking stalls in the lower level garage. The units include a variety of rents ranging from low-income restricted to workforce housing and market rate. - Isaiah Ang Sep 6, 2026 The former Younkers store at Oak View Mall may be getting a new lease on life. The City of Omaha is reviewing a major amendment to the development agreement for the mall to permit indoor recreation use. After Younkers closed, The Rush Market occupied the building until 2025. The proposed user is NRG Adventure Park. It would be located on the second floor and feature trampolines, soft play areas, climbing walls and virtual reality games. There appears to be two other NRG Adventure Parks, one in Fargo, N.D., and the other in Springfield, N.J. Sep 6, 2026 Bloom Works Floral will host its annual Good Neighbor Day Wednesday, September 9, starting at 8:00am. The store is located at 142 West Broadway in Council Bluffs. Attendees will receive a dozen roses with the simple goal of keeping one and gifting the other 11 to neighbors, coworkers or friends who deserve a kind gesture. Bloom Works plans to give away 15,000 roses this year. - Nicole Miller Sep 5, 2026 Curry in a Hurry, a quick-serve Indian restaurant, has soft-opened a southwest Omaha location at 16919 Audrey Street just west of Williamsburg Pizza. The restaurant considers it a "trial run" with a limited menu and drive-thru-only service. Curry in a Hurry's existing restaurant is at 2527 North 72nd Street. The restaurant also operates a popular food truck based at 2221 Main Street in Bellevue. Sep 5, 2026 The first residential building may soon go vertical at The Crossroads redevelopment site. According to a building permit, a 6-story apartment building is planned for 7402 Chicago Street, which would be just south of Cass Street. The building permit further indicates that the first floor will have four retail spaces, in addition to amenity space for apartment tenants. The building will total 222,981 sq. ft. and have 193 apartment units. - Isaiah Ang Sponsored by ACCESSbank: Founded in Omaha, ACCESSbank serves individuals, families, and businesses who value trusted relationships alongside strong financial results. Its approach is built on local decision making, responsive service, and direct access to experienced professionals who take the time to understand each client's goals. From personal and mortgage banking to business banking, Grow Omaha provide clear guidance and the ability to move quickly when it matters most. Whether someone is buying a home, managing personal finances, or growing a business, its team focuses on making banking efficient, straightforward, and personal. Rooted in Omaha, ACCESSbank is committed to supporting the communities Grow Omaha serve through active involvement, volunteer efforts, and long standing local partnerships. This focus on people and place is central to how Grow Omaha operate and why clients continue to view ACCESSbank as a trusted financial partner.

Yahoo Finance
Sep 7th, 2026
BMO sells 138 US branches to First-Citizens Bank for $5.7B in deposits

BMO Financial Group has completed the sale of 138 branch locations to First-Citizens Bank & Trust Company. The branches are located across North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho, and selected locations in Minnesota, Oregon and Illinois. Under the agreement, First-Citizens Bank acquired approximately $5.7bn in deposit liabilities and $1.1bn in loans. The deal, first announced in October last year, forms part of BMO's strategy to reallocate capital towards markets with stronger client engagement and growth prospects. BMO plans to expand its presence in Western US markets, adding over 130 new sites in California and about 15 in Arizona. This would increase its California footprint by more than 50%.