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

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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.

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Fulton Financial

Amid expectations of moderate recession in 2023, banks like First BanCorp (FBP), Fulton Financial (FULT) and First Citizens (FCNCA) look promising on higher interest rates and earnings prospects.

3 Promising Bank Stocks as Recession Threat Looms in 2023

NEW YORK , Dec. 14, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business provided $27.8 million to a joint venture between Kayne Anderson Real Estate and Remedy Medical Properties for the acquisition of a surgical hospital and medical office building portfolio located in Wichita, Kansas. The portfolio includes Kansas Spine & Specialty Hospital and Abay Medical Plaza.

CIT Provides $27.8 Million for Acquisition of Medical Office Buildings in Wichita, Kansas

RALEIGH, N.C., Dec. 13, 2022 (GLOBE NEWSWIRE) -- North Carolina-headquartered First Citizens Bank has been named by Foundry's Computerworld as one of its 2023 Best Places to Work in IT.

First Citizens Bank Named to Computerworld's 2023 Best Places to Work in IT

Carlyle Group

NEW YORK , Dec. 7, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as co-coordinating lead arranger on an $85 million construction-to-term debt financing for NineDot Energy LLC ("NineDot Energy"), a leading developer of distributed community energy projects in the New York City metro region. NineDot Energy, a portfolio company of the global investment firm Carlyle Group Inc. (NASDAQ: CG), will use the proceeds to develop 11 stand-alone battery storage projects totaling 43 megawatts of capacity across the Bronx, Staten Island, Queens and Long Island.

CIT Serves as Co-Lead on $85 Million in Financing for NineDot Energy

NEW YORK , Dec. 6, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business has provided a $35 million revolving credit facility to Utopia Deals. Based in Plainview, N.Y.

CIT Provides $35 Million Credit Facility to Utopia Deals

Applied Optoelectronics

NEW YORK , Dec. 5, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as agent on a $27.78 million credit facility for Applied Optoelectronics, Inc. (NASDAQ: AAOI), a leading provider of fiber-optic networking products. Founded in 1997 and headquartered in Sugar Land, Texas, Applied Optoelectronics, Inc. ("AOI") is a leading provider of fiber-optic access network products for the internet data center, cable broadband, fiber-to-the-home and telecommunications markets.

CIT Northbridge Credit Provides $27.78 Million Credit Facility to Applied Optoelectronics

NEW YORK , Dec. 1, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $135.6 million in financing for Superior Biologics Inc. Headquartered in Sharon Hill, Pennsylvania, Superior Biologics is a leading provider of specialty pharmacy and home infusion therapy services to patients contending with a wide variety of chronic illnesses. It currently operates seven accredited pharmacies across the U.S., serving patients in 43 states and having the capability to dispense medications in all 50 states.

CIT Leads $135.6 Million Financing for Superior Biologics

RALEIGH, N.C., Nov. 29, 2022 (GLOBE NEWSWIRE) -- To honor Teen Cancer America's (TCA) 10th anniversary of helping teens and young adults with cancer, First Citizens Bank is encouraging everyone to make a donation to the nonprofit this holiday season.

First Citizens Bank's 2022 Holiday Campaign Celebrates Teen Cancer America's 10th Anniversary

Jones Lang LaSalle

NEW YORK , Nov. 21, 2022 /PRNewswire/ -- Quinlan Development Group ("QDG"), a multi-generational real estate investment company with a track record of developing over 3.5 million square feet of real estate and over one billion dollars of assets currently under management, and GTIS Partners ("GTIS"), a global real estate investment firm that manages approximately $4.3 billion in real estate with a U.S. focus on residential and industrial/logistics investments, announced today the formation of a joint venture and the acquisition of 374 4th Avenue for the development of a class-A mixed-use residential development located in the Gowanus neighborhood of Brooklyn, NY (the "Project"). Once complete, the Project will comprise 197 units and 213,000 square feet across 17 stories, with ground floor retail and parking.

Quinlan Development Group and GTIS Partners Announce Opportunity Zone Joint Venture for Brooklyn, NY Residential Development

First Citizens (FCNCA) could produce exceptional returns because of its solid growth attributes.

First Citizens (FCNCA) is an Incredible Growth Stock: 3 Reasons Why

NEW YORK , Nov. 17, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as lead arranger on $419 million in financing for acquisition of the Broad River power generation facility in Gaffney, South Carolina. Onward Energy Inc. is acquiring the five-unit, 860-megawatt simple-cycle peaking power plant, which is fully contracted under a long-term power purchase tolling agreement with Duke Energy Progress Inc. The financing package included a term loan, letters of credit and a working capital facility.

CIT Serves as Lead Arranger on $419 Million in Financing for Broad River Power Facility in South Carolina

NEW YORK , Nov. 16, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $34 million in financing to a joint venture between i.Park and Great Point Media for the development of the Lionsgate Warburton Studios, an entertainment production facility in Yonkers, New York. The new studios will consist of 73,000-square-feet of studio, office and mill space.

CIT Provides $34 Million for Development of Lionsgate Warburton Studios in Yonkers, New York

RALEIGH, N.C., Nov. 14, 2022 (GLOBE NEWSWIRE) -- First Citizens Bank announced that its CIT Bank division has completed conversion of its branches to First Citizens' operations and systems. This conversion integrates CIT Bank branch customer accounts into First Citizens products and services.

First Citizens Bank Completes Operational Conversion of CIT Bank Division Branches

First Citizens has executed well in these initial quarters after the close of the CIT deal, and 20%-plus sequential pre-provision profit growth compares favorably to its peer/comp group. First Citizens has been delivering better-than-average loan growth and deposit cost leverage, but management is getting a little more cautious on guidance given a weakening macro outlook.

First Citizens BancShares Off To A Good Start With Its Transformative Acquisition

NEW YORK , Nov. 3, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger of construction financing for a major new solar energy project in Texas. Avantus (formerly 8minute) is the developer of the147-megawatt (MWdc) solar power facility now under construction in Concho County, Texas.

CIT Leads Construction Financing for Major New Texas Solar Project

RALEIGH, N.C., Oct. 28, 2022 (GLOBE NEWSWIRE) -- Eugene Flood Jr. has been appointed to the Board of Directors of First Citizens BancShares (“BancShares”) and its First-Citizens Bank & Trust Company (“First Citizens Bank”) subsidiary, effective Jan. 1, 2023. He fills the vacancy that will be created by the retirement of director Daniel Heavner, effective Dec. 31, 2022. Heavner has served as a director since 2007.

Flood Appointed to First Citizens BancShares Board of Directors, Heavner Retires

First Citizens BancShares, Inc. (NASDAQ:FCNCA ) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET Company Participants Deanna Hart – Senior Vice President-Investor Relations Frank Holding – Chairman and Chief Executive Officer Craig Nix – Chief Financial Officer Tom Eklund – Treasurer Marisa Harney – Chief Credit Officer Conference Call Participants Brady Gailey – KBW Stephen Scouten – Piper Sandler Brian Foran – Autonomous Christopher Marinac – Janney Operator Ladies and gentlemen, thank you for standing by, and welcome to the First Citizens BancShares Third Quarter 2022 Earnings Conference Call. At this time, all participants are in listen-only mode.

First Citizens BancShares, Inc. (FCNCA) Q3 2022 Earnings Call Transcript

First Citizens (FCNCA) delivered earnings and revenue surprises of 4.48% and 19.87%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

First Citizens BancShares (FCNCA) Q3 Earnings and Revenues Top Estimates

RALEIGH, N.C., Oct. 27, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. (“BancShares”) (Nasdaq: FCNCA) reported earnings for the third quarter and year-to-date period ended September 30, 2022.

First Citizens BancShares Reports Third Quarter 2022 Earnings

First Citizens (FCNCA) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

Will First Citizens (FCNCA) Beat Estimates Again in Its Next Earnings Report?

NEW YORK , Oct. 18, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business provided $39.25 million in financing for the acquisition of a portfolio of seven medical office buildings and dialysis centers in Texas, Georgia, Washington and Idaho. The properties were acquired by affiliates of Ridgeline Capital Partners, a Texas-based firm focused exclusively on acquiring and operating healthcare real estate.

CIT Provides $39.25 Million for Acquisition of Medical Office Buildings

NEW YORK , Oct. 12, 2022 /PRNewswire/ -- CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it has completed a $50 million factoring facility with a West Coast consumer technology firm. CIT worked closely with the client to create a unique factoring arrangement to provide the technology designer and producer with additional flexibility in meeting its working capital needs.

CIT Closes $50 Million Factoring Facility with Consumer Technology Firm

RALEIGH, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. today announced that it will report its financial results for the third quarter ended Sept. 30, 2022, before the U.S. financial markets open on Thursday, Oct. 27, 2022.

First Citizens BancShares, Inc. Announces Date of 2022 Third Quarter Earnings Call

NEW YORK , Oct. 4, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that CIT Northbridge Credit , as advised by CIT Asset Management LLC, served as agent on a $40 million revolving credit facility provided to Biery Cheese. The credit facility refinances Biery Cheese's existing senior debt and provides additional liquidity to support increased production.

CIT Northbridge Credit Serves as Agent on $40 Million Financing to Biery Cheese

NEW YORK , Sept. 27, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as lead arranger of $58.9 million in financing for the acquisition of a portfolio of six micro-hospitals.

News for First Citizens BancShares Stock (FCNCA)