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

NEW YORK , Sept. 14, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Sponsor Finance business served as lead arranger of debt financing to support SK Capital Partners' investment in VanDeMark Chemical in partnership with existing co-owner Comvest Partners.

CIT Arranges Financing for SK Capital Investment in VanDeMark Chemical

NEW YORK , Sept. 13, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its  Healthcare Finance  business provided $50.8 million to Seavest Healthcare Properties, LLC for the refinancing of Providence Family Wellness Center and Medical Office Building.

CIT Provides $50.8 Million to Seavest Healthcare Properties

First Citizens (FCNCA) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

First Citizens (FCNCA) Upgraded to Buy: What Does It Mean for the Stock?

NEW YORK , Sept. 8, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending  business provided $10 million in financing to Blue Sky Specialty Pharmacy.

CIT Provides $10 Million to Charleston-based Blue Sky Specialty Pharmacy

NEW YORK , Sept. 7, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that the Specialty Finance unit of its Asset-Based Lending  business provided $100 million in financing to Stonegate Capital, a middle-market asset-based lender primarily focused on the consumer vertical and opportunistic credits.

CIT Provides $100 Million in Financing for Stonegate Capital

PASADENA, Calif. , Sept. 1, 2022 /PRNewswire/ -- CIT Bank, the national online bank, today announced that it has been ranked as No.

Online Leader CIT Bank Recognized for Delivering Best 'Humanized' Customer Experience

Should investors be excited or worried when a stock's 50 -day simple moving average crosses above the 200-day simple moving average?

First Citizens BancShares (FCNCA) Just Flashed Golden Cross Signal: Do You Buy?

NEW YORK , Aug. 30, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its  Healthcare Finance  business increased its existing credit facilities for FOX Rehabilitation by $50 million for a total financing of $172.3 million. The original financing was developed in connection with FOX's acquisition by Blue Wolf Capital Partners in February 2019.

CIT Increases Financing for FOX Rehabilitation by $50 Million

NEW YORK , Aug. 25, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has increased its financing for Globus Maritime Limited by $18 million. The lending increase expands CIT's relationship with Globus Maritime and raises CIT's total financing to the client to $52.25 million, which is secured by seven dry-bulk shipping vessels.

CIT Increases Financing to Globus Maritime Limited by $18 Million

NEW YORK , Aug. 17, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance  business served as lead arranger for $67.5 million in financing for the acquisition and future expansion of the Northwest Specialty Hospital in the Greater Spokane market region. The property consists of a multi-specialty surgical hospital with 32 beds, eight operating rooms, two procedure rooms, two anesthesia recovery units, an endoscopy center and a connected 36,000-square-foot medical office building located in Post Falls, Idaho, part of the Greater Spokane market.

CIT Arranges $67.5 Million Financing for Acquisition and Expansion of Surgical Hospital and Adjacent Medical Office

NEW YORK , Aug. 16, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business served as lead arranger on $53 million in financing for the acquisition of six industrial properties. The borrower, Aminim Group, acquired the portfolio of properties, which are located in the busy Baltimore-Washington D.C.

CIT Serves as Lead Arranger on $53 Million Financing for Washington-BWI Industrial Properties

NEW YORK , Aug. 11, 2022 /PRNewswire/ -- CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it has completed a $75 million factoring facility on behalf of a consumer products wholesaler. CIT worked with the client to arrange a factoring facility to replace an existing asset-based lending facility with another lender.

CIT Closes $75 Million Factoring Facility with Consumer Products Wholesaler

First Citizens (FCNCA) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Will First Citizens (FCNCA) Gain on Rising Earnings Estimates?

NEW YORK , Aug. 3, 2022 /PRNewswire/ -- CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it increased a New York-based fashion company's discretionary lending facility to $100 million to support the acquisition of an entity that specializes in children's apparel. The fashion company, a longtime client of CIT, focuses on designing, importing and distributing apparel, handbags and accessories.

CIT Increases Lending Facility for Fashion Company to $100 Million

NEW YORK , Aug. 2, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as sole lead arranger of financing for the development of Swell Energy's pipeline of new behind-the-meter commercial energy storage projects in California. The borrower, a subsidiary of Swell Energy Inc., is developing over 100 behind-the-meter energy storage projects on commercial properties across California.

CIT Serves as Sole Lead Arranger of Financing for Swell Energy's Commercial Behind-The-Meter Energy Storage Projects

NEW YORK , Aug. 1, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided a loan to TruAmerica Multifamily for the acquisition of The Park at Napoli Apartments in Winter Park, Florida. The Park at Napoli is a multifamily apartment complex comprising 238 units across 15 two-story buildings.

CIT Provides Acquisition Financing for Apartment Complex in Florida

First Citizens BancShares, Inc. (NASDAQ:FCNCA ) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants Deanna Hart - SVP, IR Frank Holding - Chairman & CEO Peter Bristow - President Marisa Harney - Chief Credit Officer Craig Nix - CFO & Principal Accounting Officer Tom Eklund - SVP & Treasurer Conference Call Participants Stephen Scouten - Piper Sandler & Co. Brady Gailey - KBW Christopher Marinac - Janney Montgomery Scott Brian Foran - Autonomous Research Operator Ladies and gentlemen, thank you for standing by, and welcome to the First Citizens BancShares' Second Quarter 2022 Earnings Conference Call. [Operator Instructions].

First Citizens BancShares, Inc. (FCNCA) CEO Frank Holding on Q2 2022 Results - Earnings Call Transcript

RALEIGH, N.C., July 28, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. (“BancShares”) (Nasdaq: FCNCA) reported earnings for the second quarter and year to date period ended June 30, 2022.

First Citizens BancShares Reports Second Quarter 2022 Earnings

First Citizens BancShares continues to expand with stable returns even after the recent M&A. The bank has an excellent liquidity position to sustain its capacity amidst macroeconomic pressures.

First Citizens Commits To Growth And Expansion Amidst Macro Pressures

Bank7 Corp

Citizens Financial Group

CVB Financial

Finwise Bancorp

PNC Financial Services

Investors looking for more all-weather inflation winners need to look further afield to the second-order winners. And one class of stocks stands to gain, regardless of the economY.

6 Stocks to Buy as Inflation Surges

NEW YORK , July 20, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business arranged $88 million in financing for a 173-megawatt stand-alone merchant battery storage facility in Texas. The borrower, Wolf Tank Storage, is an affiliate of Aypa Power Development, which develops, owns and operates numerous utility-scale energy storage and hybrid renewable energy projects that assist in the decarbonization of the electrical grid.

CIT Serves as Lead Arranger of $88 Million Financing for Texas Battery Energy Storage System

RALEIGH, N.C., July 18, 2022 (GLOBE NEWSWIRE) -- First Citizens Bank announced that its OneWest Bank division based in Southern California has completed its conversion to First Citizens' operations and systems. This conversion integrates OneWest Bank customer accounts into First Citizens products and services.

First Citizens Bank Completes Operational Conversion of OneWest Bank Division

The mean of analysts' price targets for First Citizens (FCNCA) points to a 29.5% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Wall Street Analysts See a 30% Upside in First Citizens (FCNCA): Can the Stock Really Move This High?

NEW YORK , July 12, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Maritime Finance  business provided $80 million to refinance two Korean-built container ships operated by Seamax. "As the container ship market remains strong and our charter exposure solid, we appreciate CIT's expertise in arranging financing for these vessels, which aids us in executing on our business strategy," said Ron Petrunoff, managing partner at Seamax.

CIT Provides $80 Million to Refinance Two Container Ships

RALEIGH, N.C., July 06, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. today announced that it will report its financial results for the second quarter ended June 30, 2022, before the U.S. financial markets open on Thursday, July 28, 2022.

News for First Citizens BancShares Stock (FCNCA)