First Citizens Bank Provides $15.7 Million to Raymour & Flanigan

NEW YORK — Feb. 24, 2025 — First Citizens Bank today announced that its Middle Market Banking business provided $15.7 million in financing to Raymour & Flanigan, a leading furniture and mattress retailer.

Founded in 1947, Raymour & Flanigan is the seventh largest furniture retailer in the United States with 111 full-line showrooms along with stores and outlets operating across New York, New Jersey, Connecticut, Pennsylvania, Massachusetts, Delaware and Rhode Island, as well as a growing e-commerce business.

This transaction refinances an existing Raymour & Flannigan showroom in Norwalk, Connecticut.

“Arranging this financing with First Citizens Bank enables us to position our business for growth while continuing to provide high-quality furniture and exceptional service to our customers,” said Adam Wasileski, Director of Real Estate for Raymour & Flanigan. “Their support and expertise have been invaluable in helping us achieve our long-term growth objectives.”

“First Citizens Middle Market Banking is pleased to support Raymour & Flanigan with financing that enables them to optimize their operations and continue delivering exceptional service to their customers,” said Brendan Chambers, head of Middle Market Banking at First Citizens Bank.

“As a client-centric lender, we are committed to helping businesses like Raymour & Flanigan achieve their financial goals by providing tailored financial solutions that support growth and long-term success,” said Rocky Rhodes, a relationship manager with First Citizens Bank.

First Citizens Middle Market Banking delivers a range of financial solutions to midsize clients through a relationship banking model. The business offers deposit solutions, loans, treasury services and other banking products to manufacturers, distributors and a wide variety of service industries.

About First Citizens Bank

First Citizens Bank helps personal, business, commercial and wealth clients build financial strength that lasts. Headquartered in Raleigh, N.C., First Citizens has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of more than 500 branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; and a nationwide direct bank. Parent company First Citizens BancShares, Inc. (NASDAQ: FCNCA) is a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500™. Discover more at firstcitizens.com.