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 , 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.

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

Investors need to pay close attention to First Citizens (FCNCA) stock based on the movements in the options market lately.

Is the Options Market Predicting a Spike in First Citizens (FCNCA) Stock?

Customers Bancorp

Merchants Bancorp

Chief executives at three regional banks have bought their own companies' stock last month.

3 Bank CEOs Gobble Up Their Own Stock

NEW YORK , May 31, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its  Healthcare Finance  business served as sole lender on a $22 million loan to AZ Banner Investments LLC, which is managed by Webb Management & Investments, LLC. The loan was used to refinance the Chandler Medical Plaza, a three-story medical office building in Chandler, Arizona.

CIT Provides $22 Million to Refinance Chandler Medical Plaza

NEW YORK , May 24, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Maritime Finance  business served as sole lead arranger on up to $30.5 million in financing to expand Lomar Shipping's portfolio of dry bulk vessels. The financing, which will be used to acquire Kamsarmax vessels, was arranged to support further diversification of Lomar's growing fleet.

CIT Provides Up to $30.5 Million Financing for Lomar Portfolio

NEW YORK , May 18, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $30 million for the acquisition of an apartment complex in Phoenix, Arizona. The Madison Grove Apartments is a 171-unit multifamily complex located in the North Phoenix area, located between Piestewa Peak Park and Scottsdale.

CIT Provides $30 Million for Acquisition of Apartment Complex in Arizona

NEW YORK , May 11, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger on $714 million in financing for a portfolio of thermal generation assets in California. The proceeds were used to refinance a 1.8-gigawatt portfolio owned by subsidiaries of the Avenue Capital Group and managed by Middle River Power.

CIT Arranges $714 Million for Thermal Generation Assets in California

80% of small business owners indicate confidence in their growth, while only 42% express a positive economic outlook 80% of small business owners indicate confidence in their growth, while only 42% express a positive economic outlook

First Citizens Bank Forecast Shows Pandemic Rebound on Small Business Success

NEW YORK , May 5, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Maritime Finance business has increased its financing for Polska Zegluga Morska Capital Group, also known as Polsteam Group, by $10 million via a secondary purchase. CIT Maritime's loan expands its relationship with Polsteam Group and increases CIT's total financing commitment to the client by about 50%.

CIT Increases Financing for Polsteam Ship Operator by Nearly $10 Million

First Citizens BancShares, Inc. (NASDAQ:FCNCA ) Q1 2022 Results Conference Call April 28, 2022 9:00 AM ET Company Participants Deanna Hart - SVP, IR Frank Holding - Chairman and CEO Craig Nix - CFO Tom Eklund - Treasurer Elliot Howard - Manager Mergers and Acquisitions Marisa Harney - Chief Credit Officer Conference Call Participants Brady Gailey - KBW Stephen Scouten - Piper Sandler Christopher Marinac - Janney Montgomery Scott Operator Ladies and gentlemen, thank you for standing by, and welcome to the First Citizens BancShares First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode.

First Citizens BancShares, Inc. (FCNCA) CEO Frank Holding on Q1 2022 Results - Earnings Call Transcript

NEW YORK , April 28, 2022 /PRNewswire/ -- CIT Northbridge Credit, as advised by CIT Asset Management LLC, has served as sole lead arranger on a $65 million credit facility for Hello Bello, a manufacturer and marketer of baby, child and adult care products. "This financing will provide additional support as we continue to grow our market share by delivering affordable, high-quality essentials to more families," said Jennifer Pullen, co-founder of Hello Bello.

CIT Northbridge Provides $65 Million to Family Care Company Hello Bello™

First Citizens (FCNCA) delivered earnings and revenue surprises of 23.89% and 30.47%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

First Citizens BancShares (FCNCA) Q1 Earnings and Revenues Surpass Estimates

RALEIGH, N.C., April 28, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. (“BancShares”) (Nasdaq: FCNCA) reported earnings for the first quarter ended March 31, 2022.

First Citizens BancShares Reports Earnings For The First Quarter Of 2022

NEW YORK , April 27, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced its Community Association Banking group has been selected as winner of the "Best B2B Payments Platform" award for C-PropertyPay in the sixth annual FinTech Breakthrough Awards program. The recognition was awarded by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies and products in the global FinTech market today.

CIT Wins 2022 FinTech Breakthrough Award for Community Association Banking Payment Platform

First Citizens (FCNCA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Analysts Estimate First Citizens BancShares (FCNCA) to Report a Decline in Earnings: What to Look Out for

NEW YORK , April 21, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $145 million credit facility for Natural Gas Compression Systems Inc. Based in Traverse City, Michigan, Natural Gas Compression Systems is a full-service gas compression equipment and service business that provides contract compression and recurring field service throughout the United States and Canada. "There is currently a strong demand for contract compression, and we appreciate CIT Northbridge's expertise and agility in arranging financing that enables us to deliver for our customers," said AJ Yuncker, CEO and president of Natural Gas Compression Systems.

CIT Northbridge Provides $145 Million Credit Facility to Natural Gas Compression Systems

NEW YORK , April 14, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Capital Equipment Finance business has named Eric Smith as a business development officer serving the West region. Smith, who is based in Greater Seattle, will be responsible for developing, maintaining, and expanding client and prospect relationships within the region, which includes California, Oregon, Washington, Alaska and Hawaii.

CIT Names Business Development Officer in Capital Equipment Finance for the West Region

NEW YORK , April 13, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance  business provided a $37.2 million loan to Aminim Group to finance the acquisition of a bulk distribution facility in Pittsburgh, Pennsylvania. The industrial distribution facility comprises more than 510,000 square feet and is located near Downtown Pittsburgh and several main interstate highways.

CIT Provides $37.2 Million Financing for Distribution Facility in Pittsburgh, Pennsylvania

RALEIGH, N.C., April 06, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. today announced that it will report its financial results for the first quarter ended March 31, 2022, before the U.S. financial markets open on Thursday, April 28, 2022.

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

NEW YORK , April 6, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Commercial Services  business is promoting and hiring new business development leaders to support clients and drive growth in factoring finance in the Northeast and West. In the Northeast, Howard Moore and Paul Pagano are joining CIT's Commercial Services  group as business development directors.

CIT Names New Business Development Leaders and Account Executive-Team Leader in Commercial Services

NEW YORK , April 5, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending  business served as lead arranger on financing for Kenneth Cole Productions Inc., a renowned men's and women's fashion brand. Headquartered in New York City and founded in 1982, Kenneth Cole Productions is known worldwide for its fashion products spanning the footwear, handbag, apparel and fragrance categories.

CIT Arranges Financing for Noted Fashion Brand Kenneth Cole Productions Inc.

NEW YORK , March 31, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $35.6 million for the acquisition of two multifamily residential properties in the North Shore area of Massachusetts. The Heights at Haverhill, located in Haverhill, Massachusetts, and the Thorndike Exchange in nearby Lowell, Massachusetts, comprise 107 residential rental units with accompanying office and retail space on the ground floor.

CIT Provides $35.6 Million for Acquisition of Two Massachusetts Residential Complexes

NEW YORK , March 29, 2022 /PRNewswire/ -- CIT Northbridge Credit, as advised by CIT Asset Management, and Tiger Finance today announced they have arranged up to $47 million in financing for a leading e-commerce seller of branded consumer products. The financing consists of a $30 million revolving credit facility provided by CIT Northbridge, a $5 million term loan provided by Tiger Finance, and an accordion for up to an additional $12 million.

CIT Northbridge and Tiger Finance Arrange Financing of Up to $47 Million for a Leading E-Commerce Seller of Branded Products

NEW YORK , March 28, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance  business provided a $29.9 million loan for the acquisition of a portfolio of industrial buildings in Greater Chicago by Aminim Group. The portfolio consists of three industrial buildings, all of which are in close proximity to the major four-way interchange I-294, and two of which are located within one mile from O'Hare International Airport.

News for First Citizens BancShares Stock (FCNCA)