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First Citizens BancShares

Full-service bank offering loans and investments

Summer Intern - AI Innovation

Summer 2027Updated Deadline 10/30/27
No salary listed
Internship
Bachelor's, Master's
Raleigh, NC, USA
HybridHybrid role; work regularly takes place inside and outside the company office.
AI & Machine Learning

About the job

Requirements
  • A high school diploma or GED and one year of experience are required.
  • Currently enrolled at an accredited collegiate institution during the summer program.
  • Able to work 40 hours per week for the duration of the program.
  • Preferred: currently enrolled in a bachelor's (third-year student) or master's program in Computer Science or a related STEM field, with coursework in Software Development, Data Science, or Artificial Intelligence.
  • Preferred: hands-on programming experience with Python, Java, or JavaScript, including the ability to develop and debug application code.
  • Preferred: familiarity with backend development concepts such as REST APIs, microservices, and database integrations.
  • Preferred: familiarity with front-end development frameworks such as React or Angular.
  • Preferred: familiarity with AI/ML frameworks such as TensorFlow, PyTorch, or Scikit-learn, and data analytics tools such as SQL, Power BI, or Tableau.
  • Preferred: understanding of software development methodologies such as Agile and DevOps, and cloud technologies such as AWS, Azure, or Google Cloud.
  • Preferred: analytical and critical-thinking ability to evaluate complex technical systems and propose data-driven solutions.
  • Preferred: ability to communicate technical topics to both technical and non-technical audiences.
  • Preferred: adaptability, self-motivation, curiosity, willingness to learn emerging technologies in application architecture, data integration, and AI-driven innovation.
  • Preferred: minimum 3.0 GPA.
  • Preferred: ability to multitask, adapt to changing priorities, take direction, and absorb information quickly.
Responsibilities
  • Research and evaluate emerging technologies, including artificial intelligence, machine learning, and cloud platforms, to identify innovation opportunities.
  • Support Enterprise Architects in analyzing and designing technology solutions, including data, application, and infrastructure architecture.
  • Contribute to data analytics and visualization initiatives to support architecture decisions and improve business insights.
  • Undertake assigned research, analytics, projects, strategy, process review and improvement, and technology enhancement and support activities as applicable.
  • Attend professional development and informational sessions, networking events, and community service events.
  • Complete an assigned project designed to improve a specific process or solve a problem, and present it at the close of the internship.
  • Prepare a wrap-up presentation for the division leader and other key company stakeholders outlining internship accomplishments and experience.
Desired Qualifications
  • Rising seniors.

About the company

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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

  • Second-quarter 2026 net income rose to $672 million, up from $534 million.
  • Management repurchased $600 million of stock in July 2026, signaling capital confidence.
  • The BMO acquisition added roughly $5 billion in deposits and $650 million in loans.

What critics are saying

  • The $300 million Series F preferred adds a fixed dividend burden until 2031.
  • The BMO branch conversion exposes First Citizens to integration risk across 138 locations.
  • A persistent securities-fraud investigation following January 2026 results threatens management credibility.

What makes First Citizens BancShares unique

  • First Citizens Bank now spans 600+ branches after the September 2026 BMO deal.
  • It combines commercial banking, equipment finance, wealth, insurance, and mortgage products.
  • Management keeps buying deposits and loans while maintaining strong capital and liquidity.

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Benefits

  • Hybrid Work Options

Growth & Insights and Company News

6 month growth

-2%

1 year growth

-2%

2 year growth

0%
Kalkine Media
Oct 29th, 2026
Globant secures $300M term loan and $550M revolving credit facility maturing in 2031

Globant S.A. and its US subsidiary, Globant, LLC, have amended their credit agreement to add a $300 million term loan and a $550 million revolving credit facility. Both mature on October 29, 2031. The amendment, filed on October 29, 2026, makes Globant S.A. an additional borrower. The company used cash on hand and revolving loan borrowings to refinance part of its existing term loan debt. Nine lenders back the term loan, led by HSBC Bank USA. Interest is set at SOFR plus 1.00% to 1.875%, or the Alternate Base Rate plus 0% to 0.875%. The agreement allows increases of up to $350 million, plus additional amounts, if the net leverage ratio stays at or below 3.00:1.00. Borrowers must keep an interest coverage ratio of at least 3.50:1.00.

PR Newswire
Oct 28th, 2026
First Citizens Bank opens 62,000 sq ft downtown Santa Monica office for 100+ associates

First Citizens Bank has opened a new banking office and branch at 1540 2nd Street in downtown Santa Monica, California. The renovated property brings its commercial, innovation, fund, consumer, wealth, and small business banking teams together. The three-story, 62,000 square foot building sits a few blocks from the Santa Monica Pier. It has a retail branch on the ground floor, workspace for more than 100 associates, and event space for clients and the community. The bank occupies most of the building and has two retail tenants. The bank's Silicon Valley Bank division, recently rebranded as First Citizens Innovation Banking and First Citizens Fund Banking, will serve local technology and healthcare companies, and venture capital and private equity firms, from the site. "We're excited to offer our full suite of banking capabilities under one roof," said Katie Halliday, area executive.

Yahoo Finance
Oct 26th, 2026
First Citizens beats Q3 estimates with $55.37 adjusted EPS and $2.27B revenue

First Citizens BancShares beat Wall Street expectations in the third quarter, with revenue of $2.27 billion against estimates of $2.23 billion. Adjusted earnings per share were $55.37, versus the $45.98 analysts expected. Adjusted net income was $652 million, with a return on equity of 12.24%. Chief executive officer Frank Holding credited faster loan and deposit growth, the integration of the BMO branch acquisition, and resilient credit metrics. Analysts asked about margins, the retirement of the FDIC Purchase Money Note, and lower loan loss reserves. Chief financial officer Craig Nix expects stable to improving margins and pointed to strong credit trends for the reserve cut. Shares trade at $2,379, up from $2,197 before the results.

Yahoo Finance
Oct 24th, 2026
First Citizens BancShares jumps 8.6% on Q3 beat and $1.2B buyback

First Citizens BancShares shares jumped 8.6% in afternoon trading after the regional bank beat Wall Street expectations for third-quarter 2026 and authorised a share buyback of up to $1.2 billion. Revenue rose 8% to $2.43 billion, against consensus of $2.23 billion. Adjusted earnings were $55.37 a share, up from $44.62 a year earlier and above the $45.98 forecast. Loans grew 4.1% to $157.2 billion, and deposits rose 6.8% to $185.3 billion. About $4.9 billion of deposits came with 138 branches acquired from BMO on September 4. The buyback runs through 2027, on top of $711 million left under the prior plan. Credit costs rose, with a provision of $55 million after a $10 million benefit last quarter. The stock hit a 52-week high of $2,378.

PR Newswire
Oct 23rd, 2026
First Citizens posts $606M Q3 profit, approves new $1.2B share buyback

First Citizens BancShares reported third-quarter 2026 net income of $606 million, down from $672 million in the previous quarter. Net income available to common stockholders was $577 million, or $51.23 per share. The bank's board approved a new plan to repurchase up to $1.2 billion of Class A common shares through 2027. In the quarter, it returned $600 million to stockholders through buybacks and repaid another $8.0 billion of its Purchase Money Note. On September 4, 2026, First Citizens Bank completed its acquisition of 138 BMO Bank branches, assuming about $4.9 billion in deposits and acquiring about $650 million in loans. Loans rose 4.1% to $157.19 billion, and deposits rose 6.8% to $185.26 billion. Net interest income grew $43 million to $1.70 billion.