First Citizens BancShares

First Citizens BancShares, Inc. is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks. The Commercial Banking provides lending, leasing and other financial and advisory services to small and middle market companies. The Rail segment deals with the provision of equipment leasing and secured financing for railroads and shippers. The Corporate segment is comprised of investment securities and interest bearing cash. The company was founded on August 7, 1986 and is headquartered in Raleigh, NC.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

First Citizens BancShares reports strong 2022 performance and outlines 2023 priorities

First Citizens BancShares showcased strong financial performance in 2022 with notable achievements in loan growth and expense control.
The company's strategic focus for 2023 includes core business investments, talent acquisition, and effective risk management.
While facing challenges like seasonal loan declines and non-performing loans, opportunities lie in stable margins and deposit growth strategies.
Overall, the company aims for continued growth and efficiency while navigating market dynamics and maintaining strong credit quality.

First Citizens BancShares reports strong Q1 performance post SVB acquisition

First Citizens BancShares showcased robust financial performance driven by the SVB acquisition and strategic initiatives.
Challenges include evolving market dynamics and managing expenses and criticized loans in certain portfolios.
Opportunities lie in leveraging the SVB acquisition for growth, optimizing cost structures, and adapting to regulatory changes.
Overall, the company is well-positioned to navigate challenges and capitalize on growth prospects in the financial landscape.

First Citizens BancShares excels in Q2 with SVB acquisition

First Citizens BancShares (FCNCA) demonstrated robust financial performance and strategic progress in the second quarter, driven by the SVB acquisition.
While facing challenges such as declining accretable yield and noninterest revenue, the company remains focused on capital management and long-term value creation.
Opportunities lie in potential share buybacks, optimizing deposit mix, and enhancing risk management practices to drive future growth and profitability.

First Citizens BancShares reports robust Q3 earnings amidst strategic acquisitions

First Citizens BancShares (FCNCA) delivered strong financial performance in Q3 2023, driven by earnings growth, deposit expansion, and strategic acquisitions.
While facing challenges such as elevated charge-offs and market-related declines, the company remains focused on regulatory readiness and innovation-driven growth opportunities.
With a prudent risk management approach, strategic acquisitions, and a focus on optimizing the credit portfolio, First Citizens BancShares is poised for continued growth and resilience in the evolving financial landscape.

First Citizens BancShares reports strong 2023 performance and outlines 2024 priorities

First Citizens BancShares had a successful 2023 with strong financial results and a focus on strategic priorities for 2024. The company maintains a strong capital position and is progressing on SVB integration.
Challenges include market shifts in office innovation and equipment finance, as well as potential headwinds from debt issuance costs. Opportunities exist in managing asset sensitivity, tightening underwriting, and driving growth in innovative portfolios.
Overall, the outlook for 2024 includes expectations for growth in loans and deposits, expense management, and maintaining credit quality. The company's proactive approach to capital management and focus on client service position it for continued success.

First Citizens BancShares reports robust Q1 earnings and growth outlook

First Citizens BancShares (FCNCA) delivered strong Q1 results, focusing on stability, compliance, and growth opportunities. Despite challenges in VC fundraising and market conditions, the company remains optimistic about its performance and strategic initiatives.

First Citizens BancShares reports robust Q3 earnings amidst growth opportunities

First Citizens BancShares demonstrated solid financial performance with a focus on maintaining strong capital and liquidity positions.
While facing challenges such as loan reductions and slight capital ratio decreases, the company remains optimistic about future growth opportunities.
Analysts' inquiries and management discussions highlighted a proactive approach to addressing challenges and leveraging opportunities for sustained success.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

SVB Financial Group

First Citizens Bancshares will submit bids to the Federal Deposit Insurance Corp (FDIC) to acquire parts of Silicon Valley Bank, one source with knowledge of the matter said on Monday.

First Citizens plans to bid for SVB businesses -source

First Citizens Bancshares FCNCA, +9.60% on Sunday offered to buy all of Silicon Valley Bank, Bloomberg reported. The bank, which has acquired 20 failed banks since 2009, may also participate in auctions taking place this week for parts of the bank by the Federal Deposit Insurance Corp. (FDIC), said the report, which cited people familiar with the situation.

First Citizens Bancshares pursuing acquisition of Silicon Valley Bank: Bloomberg

First Citizens Bank is reportedly offering to purchase failed lender Silicon Valley Bank. According to a Sunday (March 19) Bloomberg News report, the North Carolina-based financial institution is one of a handful of suitors for Silicon Valley Bank (SVB).

Report: First Citizens Bank Could Buy SVB

First Citizens BancShares reported a strong growth in total revenue, driven by M&A activity. The company enjoys loan portfolio growth and clear focus on margin expansion.

First Citizens BancShares: Navigating Challenges, Unlocking Growth Potential

First Citizens BancShares Inc is evaluating an offer for Silicon Valley Bank , Bloomberg News reported on Saturday, citing people familiar with the matter.

First Citizens considering takeover of Silicon Valley Bank - Bloomberg News

RALEIGH, N.C. , March 14, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking group is expanding yet again – this time to better support the financial needs and goals of midsize businesses in the Midwest and South Central U.S. First Citizens Middle Market Banking has been steadily growing since its official launch in September 2022 and the introduction of the business in the Southwestern U.S. in October 2022.

First Citizens Middle Market Banking Expands in the Midwest and South Central U.S.

Arrow Financial

First Financial Bankshares

Last week bank stock prices plummeted ~15%. The big drop prompted me to write two grim articles. While dark clouds are on the bank horizon, a silver lining may be developing. Or maybe I am just looking for good cheer.

Bank Insider Buys Were Up March 8-10: Watch Insiders This Week (3/13)

NEW YORK , March 2, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, provided financing to Purus Clean Energy, a subsidiary of Purus Marine, to support the acquisition of the MV Green Power, a 40,000 cbm ammonia carrier. Purus Marine provides innovative low-carbon maritime energy transportation and infrastructure systems by integrating people, assets and know-how.

First Citizens Bank Provides Financing to Purus Marine

RALEIGH, N.C. , March 1, 2023 /PRNewswire/ -- On March 1, First Citizens Bank celebrates its 125th year of delivering long-term value and excellent service to clients and strong results to shareholders.

Forever Starts With the First 125 Years: First Citizens Bank Celebrates Milestone Anniversary

RALEIGH, N.C. , Feb. 23, 2023 /PRNewswire/ -- For the tenth consecutive year, North Carolina-headquartered First Citizens Bank continues to be recognized by Coalition Greenwich with several national and regional awards for small business and middle market banking.

First Citizens Receives 20 Greenwich Excellence and Brand Awards for Small Business and Middle Market Banking

Change Enhances Clarity, Signifies Renewed Commitment to Service Excellence RALEIGH, N.C. , Feb. 23, 2023 /PRNewswire/ -- First-Citizens Bank & Trust Company (First Citizens Bank) today announced that its vendor equipment financing business will now be known as First Citizens Bank Equipment Finance to better communicate its core mission to vendors, customers and prospects.

First Citizens Bank Introduces New Name for Equipment Finance Business

NEW YORK , Feb. 21, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $50.3 million in financing to Montecito Medical Real Estate to recapitalize a portfolio of medical office buildings. The portfolio consists of an aggregate of 200,000 rentable square feet across seven off-campus medical office buildings located in Florida, Illinois and Pennsylvania.

First Citizens Bank Provides $50.3 Million Financing for Recapitalization of Medical Office Building Portfolio

LOS ANGELES , Feb. 15, 2023 /PRNewswire/ -- CIT Commercial Services, a wholly-owned subsidiary of First Citizens Bank, today announced that it has closed a non-recourse factoring arrangement and $8 million senior secured facility for a Los Angeles-based company that sells men's and boys' clothing to retailers. CIT worked closely with the growing apparel company to create a flexible arrangement to support the company's unique working capital and accounts receivable management needs.

CIT Closes $8 Million Factoring Facility for Los Angeles-based Apparel Company

RALEIGH, N.C. , Feb. 13, 2023 /PRNewswire/ -- Mike Atkinson, senior director of community development at First Citizens, has been named steering committee chair for the North Carolina Bankers Association (NCBA) Future Bank Leaders program.

Atkinson to Chair North Carolina Bankers Association Future Bank Leaders Program Steering Committee

First Citizens offered a different set of results from the typical bank in the fourth quarter, including little revenue growth and sequential pre-provision contraction. A slowing macro environment is leading to weaker demand for factoring, depressing loan growth, but funding costs remain attractive.

First Citizens BancShares Offers Quality And Value, But Also Macro Sensitivity

NEW YORK , Feb. 8, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $31.2 million to Montecito Medical Real Estate to finance the acquisition of a cancer treatment center in Columbia, South Carolina. The treatment center is leased to South Carolina Oncology Associates (SCOA), the Columbia region's leader in oncology services and the largest private oncology practice in the state.

First Citizens Bank Provides $31.2 Million for Acquisition of Cancer Treatment Center in Columbia, South Carolina

RALEIGH, N.C. , Feb. 7, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business is launching a business-focused webinar series to provide a range of expert insight to owners, executives, service providers and others engaged with middle market companies.

First Citizens Middle Market Banking Announces Business-Focused Webinar Series

NEW YORK , Feb. 2, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Real Estate Finance group, part of the CIT division, served as lead arranger on $65.7 million in financing to MainStreet Property Group for the development of The Spark Apartments, a 211-unit, Class A multifamily project in Redmond, Washington. The Spark Apartments will consist of two buildings, divided by a public "urban forest" and connected by a multicolor sky bridge.

First Citizens Bank Serves as Lead Arranger on $65.7 Million in Financing for Development of Apartments in Washington State

NEW YORK , Jan. 31, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, has provided $52.4 million to affiliates of Kayne Anderson Real Estate and Remedy Medical Properties to finance a portfolio of medical office building properties. The portfolio consists of an aggregate of more than 300,000 square feet of space in 13 properties spread across various states, including Virginia, Texas, Tennessee, Indiana, Wisconsin, Connecticut and California.

First Citizens Bank Provides $52.4 Million to Finance Portfolio of Medical Office Building Properties

Start Time: 09:00 January 1, 0000 10:04 AM ET First Citizens BancShares, Inc. (NASDAQ:FCNCA ) Q4 2022 Earnings Conference Call January 26, 2023, 09:00 AM ET Company Participants Frank Holding - Chairman and CEO Craig Nix - CFO Tom Eklund - Treasurer Marisa Harney - Chief Credit Officer Elliot Howard - Manager Mergers and Acquisitions Deanna Hart - SVP, IR Conference Call Participants Brady Gailey - KBW Stephen Scouten - Piper Sandler Brian Foran - Autonomous Christopher Marinac - Janney Montgomery Scott Operator Ladies and gentlemen, thank you for standing by, and welcome to the First Citizens BancShares Fourth Quarter and Year End 2022 Earnings Conference Call. At this time, all participants are in listen-only mode.

First Citizens BancShares, Inc. (FCNCA) Q4 2022 Earnings Call Transcript

First Citizens (FCNCA) delivered earnings and revenue surprises of -10.28% and 11.60%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

First Citizens BancShares (FCNCA) Q4 Earnings Miss Estimates

RALEIGH, N.C. , Jan. 26, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) reported earnings for the fourth quarter and year-to-date period ended December 31, 2022.

First Citizens BancShares Reports Fourth Quarter 2022 Earnings

NEW YORK , Jan. 18, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, served as sole lead arranger on $44.2 million in debt financing for Navios Maritime Partners L.P. ("Navios Partners").

First Citizens Bank Arranges $44.2 Million of Debt Financing for Navios Maritime Partners L.P.

RALEIGH, N.C. , Jan. 6, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the fourth quarter and year ended Dec. 31, 2022, before the U.S. financial markets open on Thursday, Jan. 26, 2023.

First Citizens BancShares, Inc. Announces Date of 2022 Fourth Quarter and Year End Earnings Call

ATLAS CORP

Deere & Company

LPL Financial Hlds

Unum

Sales growth is vital for the survival of a business, even during an economic slowdown. Deere (DE), Atlas Corp. (ATCO), First Citizens (FCNCA), LPL Financial (LPLA) and Unum Group (UNM) are recording top-line growth.

News for First Citizens BancShares Stock (FCNCA)