First Citizens Bank Provides $338 Million to Autumn Lake Healthcare

NEW YORK, Oct. 28, 2025 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $338 million in financing to affiliates of Autumn Lake Healthcare for the acquisition of a real estate portfolio totaling 12 Maryland skilled nursing facilities including over 1500 beds.

Based in Howell, New Jersey, Autumn Lake Healthcare's network of facilities includes 66 skilled nursing facilities totaling over 8,200 beds in Connecticut, Maryland, New Jersey, Wisconsin, and West Virginia.

"The First Citizens team is outstanding and have been real partners through every turn. Their collaborative approach and level of commitment reflected a deep understanding of the unique challenges of our industry" said Mark Schwartz, Chief Operating Officer for Autumn Lake Healthcare. "We are excited to continue the expansion of our network of skilled nursing facilities and enhance the level of care we provide to our residents."

"Autumn Lake Healthcare network of facilities are premier providers in the skilled nursing sector, and we are proud to support them through this last acquisition," said William Douglass, a managing director and group head of Healthcare Finance at First Citizens Bank.

"Autumn Lake Healthcare's dedication to delivering high-quality care aligns closely with our mission to support healthcare organizations that make meaningful impact in their communities," said Mike Coiley, a managing director in First Citizens' Healthcare Finance. "We look forward to continuing to work with them as they pursue future growth opportunities." 

First Citizens Healthcare Finance provides comprehensive financing and banking solutions to middle market healthcare companies across the U.S. Using a client-focused and industry-centric model, Healthcare Finance can tailor its products and services to help clients meet their needs for growth capital.

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 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.

MEDIA RELATIONS:
Ann McDonel
(919) 716-7245
Ann.McDonel@firstcitizens.com

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SOURCE First Citizens Bank