First Citizens Bank won two gold Stevie® awards for business excellence in the 23rd annual American Business Awards competition.

The American Business Awards are widely regarded as the premier business awards program in the U.S. More than 3,600 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories.

First Citizens’ awards – Company of the Year in Banking (large bank category), and Achievement in Banking Management – were presented in recognition of the bank’s success in financing commercial battery energy storage systems that support renewable power generation.

In 2023 and 2024, the period covered by the awards competition, First Citizens Energy Finance arranged $4.5 billion worth of financing for 17 different battery energy storage projects representing 4,200-plus gigawatts of energy storage capacity.

Battery storage is an increasingly critical component of successful renewable power projects, allowing clean power to match demand and be held for use when it is needed most. The First Citizens Energy team financed the first commercial battery storage system in 2019.

“We are pleased to be recognized for the accomplishments of our Energy Finance team in supporting clients with the financing they need to reach their business objectives,” said bank President Peter Bristow, who oversees commercial banking at First Citizens.

“Our commercial clients count on First Citizens to be ready with the right products and services as their businesses grow and evolve, and our Energy Finance team is an excellent example of that,” Bristow added.

In 2020, the same Energy Finance team was recognized with a gold Stevie award for its success in financing solar power generation projects. That same year, the team was also named as Top Lead Arranger for Renewable Financing by Power Finance & Risk, a leading trade publication.

Nicknamed the Stevies for the Greek word meaning “crowned,” the award winners were selected by more than 250 professionals worldwide.

“Organizations across the United States continue to demonstrate resilience and innovation,” said Stevie Awards president Maggie Miller. “The 2025 Stevie winners have helped drive that success through their innovation, persistence, and hard work. We congratulate all of the winners in the 2025 American Business Awards.”