First Citizens ranks among most efficient
Posted: Monday, September 20, 2010 12:47 pm
The Messenger 09.20.10
American Banker, a financial services publication, recently announced that First Citizens Bancshares Inc. was ranked among the top 150 most efficient bank holding companies in the country.
American Banker looks at only the top-tier bank holding companies that filed a Y-9C statement with the Federal Reserve.
“I am very proud we are on this list,” said Jeff Agee, president and CEO of First Citizens. “The efficiency ratio reflects how well banks handle expenses.
“It is not by accident that we are in this position. We have executed many action plans to become more efficient. We believe it is because of our teammates and board that we have achieved this ranking,” he added.
Tennessee only had two holding companies ranked in the top 150, according to Agee.