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First Citizens Bank Completes Operational Conversion of OneWest Bank Division

July 19, 2022, 06:00 AM
Filed Under: Banking News

First Citizens Bank announced that its OneWest Bank division based in Southern California has completed its conversion to First Citizens’ operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and services.

OneWest Bank previously operated as a division of CIT, which merged with and became a division of First Citizens Bank in January 2022. In addition to the OneWest Bank conversion, CIT commercial deposit customers who accessed CIT treasury payment services through the Business eBanking platform have also completed their transition to First Citizens Bank’s treasury management systems platforms.

“While First Citizens and CIT’s multiple business units and corporate functions have already been effectively operating as one company, this conversion marks a major milestone,” said Frank B. Holding Jr., Chairman and CEO of First Citizens. “Now that it’s complete, we’ve deepened our presence in Southern California and converted a great majority of consumer customers’ loans and deposits within the overall CIT portfolio to our systems. We’re creating an even better and stronger bank – with the ability to offer additional convenience and value for our customers. The dedication shown by our bank teams as we’ve joined together has been outstanding.”

Between close of business on July 15 and the reopening of branches on July 18, First Citizens converted 41 OneWest Bank branches to First Citizens Bank. OneWest Bank customers now have access to the wide selection of First Citizens products and services. In addition, they can bank at any First Citizens Bank location, through First Citizens Digital Banking (online and mobile), by ATM and by telephone.

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