First Citizens Bank, a top 20 U.S. bank, has announced the official launch of First Citizens Innovation Banking, a division dedicated to serving the innovation economy in the United States and internationally. Alongside the new brand, the company is introducing First Citizens Fund Banking, a unit created to support its large portfolio of private equity and venture capital clients.

The newly named division, formerly Silicon Valley Bank's Technology & Healthcare Banking business, has served the innovation economy for more than 40 years. It provides tailored financial solutions and sector expertise to investors, startups, and high-growth companies across a range of technology and healthcare industries. First Citizens acquired Silicon Valley Bank in March2023 through a purchase-and-assumption agreement with the Federal Deposit Insurance Corp. after the bank's failure, which at the time ranked as the second-largest in U.S. history and prompted regulators to guarantee all deposits. The deal brought SVB's startup, venture capital, and private equity client base under the First Citizens umbrella, where the business has since operated as the bank's Silicon Valley Bank division.

"Today marks an exciting milestone as we introduce First Citizens Innovation Banking," said Frank Holding, Jr., Chairman and CEO of First Citizens Bank. "We are building on the legacy of Silicon Valley Bank and bringing greater scale and resources to make our platform even stronger. Investing in, and strengthening, this business remains a priority for First Citizens. We are committed to the innovation economy for the long term, and, as First Citizens Innovation Banking, we will continue to provide market leading solutions, services and insights our clients rely on to succeed."

To mark the launch, the bank kicked off a marketing campaign titled "Where Silicon Valley Banks." The campaign will appear across digital, print, and outdoor channels in select innovation markets nationwide and will be featured as part of First Citizens' presence at upcoming events and conferences in 2026, including San Francisco and Los Angeles Tech Weeks, Money20/20, and HLTH, among others.

"Silicon Valley is more than just a region in California – it's synonymous with innovation, entrepreneurship and growth," said Marc Cadieux, President of First Citizens Innovation Banking. "For decades, we have helped founders, entrepreneurs and investors build and scale industry-defining companies. Our business was purpose-built for the innovation economy, and that will continue. While our name has changed, our expertise, relationships and dedication to the innovation economy have not, which is why we are, and will continue to be, where Silicon Valley banks."

The launch follows an announcement made earlier this year, when First Citizens Bank said its Silicon Valley Bank division would become First Citizens Innovation Banking and First Citizens Fund Banking. The Silicon Valley Bank Wine Division was additionally rebranded as First Citizens Bank.