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Show Notes

(00:02:47) - (First question) - A primer on investing in banks

(00:09:27) - The appeal of First Citizens Bank

(00:15:18) - How they leverage acquisitions, including FDIC auctions, for a competitive edge

(00:21:42) - How their risk management and protective measures foster resilience and growth

(00:26:22) - The significant impact of prioritizing relationship-based and specialized lending

(00:28:51) - Why they adjust risk parameters during the integration with other banks

(00:30:38) - How they leverage loyal customers and low costs to achieve strong profitability

(00:33:21) - Rapid fund movement during the SVB event raises market change concerns

(00:36:58) - Overview of bank investment opportunities

(00:42:48) - The key drivers of their business model

(00:47:43) - Rebuilding relationships with former depositors to retain SVB deposits

(00:51:23) - Their emphasis on relationships and strategic acquisitions

(00:53:30) - How the regulatory framework plays a key role in de-risking the banking system

(00:57:00) - The key risks for First Citizens moving forward
(00:58:39) - Why volatile interest rate changes impacted banks

(01:00:08) - Lessons learned from studying First Citizens