I didn't expect to receive a cannabis industry report from a major bank today.. The report itself is not particularly great, but the sentiment is! First Citizens Bank is among the top 20 largest banks in the United States, so the fact they are promoting their services to hemp and cannabis companies should be a signal. The cannabis industry is a money maker. Despite all the lunacy surrounding regulations, this industry will not be shut down. There's too much money to be made. As their "thought leader" points out on page 5: the people selling the “pick axes and shovels” to the “miners” are in the money. Checking accounts are an axe. (or pick, I'm not sure) How long till other large banking institutions jump in? (Report linked in the comments) #cannabis #banking #hemp #reports
They are a great bank and I love working with them. They did put a lot of work into getting all the clients to participate in the report and want to see the industry thrive. The people who work on the hemp accounts are responsive and the bank has great security. More I can say about other banks who we have banked with in the past.
Thanks for sharing a piece of good news Micah
They have been presenting sponsor for NoCo Hemp Expo the last 3 years and made their official launch into the hemp industry at Southern Hemp Expo in 2022. Great group of folks who are doing good work.
They’re amazing to work with. Please reach out to Diana A. she’s the best in the business.
What are the monthly fees? Any idea?
Insightful and hopefully more will follow.
I’ve worked with their Richmond Va. branch, I may move my business accounts there, it’s a great sign that they are advertising, legitimacy is what we need, and access to banking services is crucial.
Minor Cannabinoid Aficionado, Manufacturer & Wholesaler
3dhttps://www.firstcitizens.com/content/dam/firstcitizens/pdfs/hosted/commercial/2025-cannabis-industry-report.pdf?utm_medium=email&utm_source=marketo&utm_campaign=canpr07&utm_content=sotireport&mkt_tok=Mjk2LUNQWC0yOTUAAAGcJGqe6GL6rr3ERQlC64MjCST1iQ0uXnpXZd1K-Kmi-CVLbc-eoMUxRd_s8BxErSmihMpVTXX6TdcE5ssg38GKvx6znBGx3D4wVHyj1v3zAiicJA