First Citizens BancShares appoints former Ally Bank president to board

RALEIGH, N.C. - First Citizens BancShares, Inc. (NASDAQ:FCNCA) announced Thursday the appointment of Diane "Di" Morais to its board of directors and the board of its subsidiary, First-Citizens Bank & Trust Company, effective July 1, 2025.

Morais brings over 30 years of financial services experience, most recently serving as President of Consumer and Commercial Banking at Ally Bank from 2017 until her retirement in 2024. At Ally, she oversaw deposits, online brokerage, mortgage, lending, credit card, and corporate finance businesses, while also managing customer care channels and the Community Reinvestment Act program. She joins First Citizens at a time when the bank has demonstrated remarkable consistency in shareholder returns, having maintained dividend payments for 40 consecutive years.

"Di has become known as a results-oriented executive with a customer-centric vision and leadership style," said Frank B. Holding, Jr., chairman and CEO of First Citizens, in a press release statement.

Before joining Ally, Morais spent 12 years at Bank of America in senior roles related to deposit products, customer experience, and card services. She also worked nine years at Citibank’s credit card division.

Morais holds a bachelor’s degree from Pennsylvania State University and serves on several boards including the YMCA of Greater Charlotte and Junior Achievement of Central Carolinas. She was named to American Banker Magazine’s 25 Most Powerful Women in Banking list for nine consecutive years through 2023.

At First Citizens, Morais will serve on the Joint Risk Committee and Joint Technology Committee.

First Citizens BancShares is a top 20 U.S. financial institution with more than $200 billion in assets and is a Fortune 500 company. InvestingPro analysis reveals the bank maintains a "GOOD" overall financial health score, with particularly strong metrics in price momentum and relative value. For detailed insights and access to the comprehensive Pro Research Report covering First Citizens and 1,400+ other top stocks, consider subscribing to InvestingPro.

In other recent news, First Citizens BancShares reported its financial results for the first quarter of 2025, with adjusted earnings per share (EPS) of $37.79, slightly below the forecast of $38.3. However, the company achieved a revenue of $2.3 billion, surpassing the expected $2.19 billion. The bank’s strong performance in sectors such as tech, media, telecom, and healthcare contributed to this revenue growth. Jefferies initiated coverage of First Citizens with a Hold rating and a price target of $2,050, citing the bank’s effective capital return strategy and solid growth trends in loans and deposits. Despite these positive aspects, Jefferies expressed concerns about the bank’s high level of asset sensitivity in a potentially declining interest rate environment.

DA Davidson also adjusted its price target for First Citizens to $2,050, down from $2,100, while maintaining a Neutral rating. The firm noted the potential for balance sheet and fee growth if capital markets activity increases, but highlighted challenges such as expected net interest margin compression. The bank’s share buyback program was slightly adjusted, with expectations to reach its Common Equity Tier 1 capital ratio target by the first quarter of 2026. First Citizens terminated its FDIC loss share agreement and continues to explore opportunities in various sectors, including environmental and energy. These recent developments reflect the bank’s strategic positioning amid market uncertainties and interest rate fluctuations.

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