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.

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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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First Citizens has always been an active acquirer, but acquiring CIT takes the bank into the big leagues and significantly expands its commercial lending operations.

First Citizens BancShares Entering Into A New Era With An Interesting Valuation

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The Fed hikes interest rates for the first time in three years and signals a more hawkish monetary policy stance. The banks are clear winners.

Fed Lifts Interest Rates, Signals 6 More Hikes: 3 Bank Picks

Businesses invest in technology to facilitate digital work, but about half want employees back in the workplace long term Most businesses expect company revenue to grow over next 12 months Priorities for year ahead include tech upgrades to drive efficiency and adapt to digital-first marketplace NEW YORK , March 16, 2022 /PRNewswire/ -- Businesses are investing in technology to expand online operations and facilitate remote work during the pandemic. But many of those same businesses are also eager to see their employees return to the workplace in greater numbers over the long term.

Technology and Talent Investments Critical for Business Transformation, CIT Survey Says

RALEIGH, N.C., March 08, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. today announced that it will hold an investor conference call at 9 a.m. Eastern time on Thursday, March 24, 2022, to provide financial information about its recent merger and discuss strategic objectives.

First Citizens BancShares, Inc. Announces Investor Conference Call, March 24, 9 a.m. Eastern Time

NEW YORK, March 7, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced a reorganization of its Commercial Services factoring business to position it for accelerated growth by providing even better service for clients and prospects. CIT Commercial Services is one of the nation's leading providers of factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.

CIT Announces New Organizational Structure for Factoring Business

NEW YORK, March 3, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business served as sole lead arranger on a $39.6 million loan to an affiliate of Clarion Partners to finance the acquisition and development of Southside Logistics Center, an industrial facility in Baltimore, Maryland. Southside Logistics Center is a two-building, Class-A industrial facility comprising more than 483,000 square feet and is conveniently located near a major Port of Baltimore terminal and several main interstate highways.

CIT Serves as Sole Lender of $39.6 Million Financing for Industrial Facility in Baltimore, Maryland

RALEIGH, N.C., Feb. 24, 2022 (GLOBE NEWSWIRE) -- North Carolina-headquartered First Citizens Bank continues to be recognized as a leader in small business and middle market banking, receiving a total of 22 Greenwich Excellence and Brand Awards for 2021.

First Citizens Receives 22 Greenwich Excellence and Brand Awards for Small Business and Middle Market Banking

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Real Estate Finance business provided $51 million in financing for the acquisition of the Oceana Apartments in Avondale, Arizona. Oceana Apartments, which was acquired by 29th Street Capital, consists of 240 one-bedroom, two-bedroom and three-bedroom units.

CIT Provides $51 Million for Acquisition of Arizona Apartment Complex

NEW YORK, Feb. 23, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance division provided more than $44 million toward the financing of medical office buildings and facilities in Florida, Washington, and Arizona. The loans supported a joint venture managed by Montecito Medical Real Estate in acquiring medical office buildings in Jacksonville and Fleming Island, Florida; Scottsdale, Arizona; and Spokane, Washington.

CIT Provides More Than $44 Million for Medical Office Building Properties

NEW YORK , Feb. 17, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as coordinating lead arranger on a $71.4 million in financing for a portfolio of solar projects. The borrower, Arches Solar LLC, a subsidiary of CleanCapital, owns a portfolio of distributed generation solar projects being developed in Howard County, Maryland.

CIT Serves as Coordinating Lead Arranger on $71.4 Million Financing for Howard County, Maryland Solar Portfolio

NEW YORK, Feb. 16, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Healthcare Finance business served as sole lead arranger on two financings totaling $80.7 million for the acquisition of surgical centers in Naples, Florida, and Alexandria, Louisiana. In Naples, Florida, CIT provided $49.2 million toward the acquisition of a three-story surgical hospital and specialty care facility acquired by subsidiaries of IRA Capital.

CIT Provides $80.7 Million to IRA Capital for Surgical Center Acquisitions

NEW YORK, Feb. 14, 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 $20 million senior lending facility for Davey Coach Holdings, a portfolio company of Progress Equity Partners and one of the nation's leading providers of new and used shuttle bus and rental services. Headquartered south of Denver in Sedalia, Colorado, with additional branch locations in California and Indiana, Davey Coach provides customized solutions in the small and mid-size bus market, representing multiple manufacturer brands, many on an exclusive basis.

CIT Northbridge Serves as Sole Lead Arranger on $20 Million Credit Facility for Davey Coach Holdings, LLC

NEW YORK, Feb. 2, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business served as sole lender on a $35 million senior secured credit facility for D.P. Nicoli Inc. D.P.

CIT Serves as Sole Lender on $35 Million Credit Facility for D.P. Nicoli

First Citizens BancShares, Inc. (FCNCA) CEO Frank Holding on Q4 2021 Results - Earnings Call Transcript

RALEIGH, N.C., Jan. 26, 2022 (GLOBE NEWSWIRE) -- First Citizens Bank today announced a new approach to the fees it charges consumer customers for insufficient funds and overdrafts.

First Citizens Bank Announces Changes to Nonsufficient Funds, Overdraft Fees

First Citizens (FCNCA) delivered earnings and revenue surprises of 441.53% and 5.61%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

First Citizens BancShares (FCNCA) Q4 Earnings and Revenues Surpass Estimates

RALEIGH, N.C., Jan. 26, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. (“BancShares”) (Nasdaq: FCNCA) reported earnings for the fourth quarter and year ended December 31, 2021. Key results are presented below:

First Citizens BancShares Reports Earnings for Fourth Quarter and Full Year 2021

NEW YORK, Jan. 25, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business arranged a senior secured credit facility for FPA WhiteHawk III-Plus Master Fund L.P. (the "FPA WhiteHawk Fund" or the "Fund") to facilitate the Fund's investments.

CIT Arranges Senior Credit Facility for FPA WhiteHawk III

RALEIGH, N.C., Jan. 24, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. (Nasdaq: FCNCA) (“First Citizens”), parent company of First-Citizens Bank & Trust Company (“First Citizens Bank”), today announced that First Citizens Bank has given notice of its intention to redeem approximately $2.9 billion of its senior unsecured debt.

First Citizens Bank Announces Redemption of Approximately $2.9 Billion of Its Senior Unsecured Debt

NEW YORK , Jan. 20, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that the Industrial group within its Equipment Finance business provided more than $5 million toward the acquisition of multiple pieces of heavy equipment by a large construction firm. The 10 items of heavy equipment financed by CIT include articulated dump trucks, excavators and wheel loaders.

CIT Provides More Than $5 Million in Financing to Construction Firm for Heavy Equipment

NEW YORK, Jan. 19, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as lead arranger of $50.5 million in financing for construction of Amp's NY3 assets, a planned portfolio of new community solar installations in New York State. CIT arranged the financing on behalf of a subsidiary of Amp Energy, a leading global developer of clean energy infrastructure.

CIT Serves as Lead Arranger of $50.5 Million Financing for New York State Solar Portfolio

NEW YORK , Jan. 12, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Aerospace, Defense and Government business provided financing for seven leased helicopters managed by Thora Capital. The helicopters, used for emergency medical transport services, are on long-term lease to Apollo Medflight, which provides emergency transport services on behalf of regional and community hospitals in six midwestern and southern states.

CIT Provides Financing for Medical Transport Helicopters

RALEIGH, N.C., Jan. 11, 2022 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. today announced that it will report its financial results for the fourth quarter and year ended December 31, 2021, before the U.S. financial markets open on Wednesday, January 26, 2022.

First Citizens BancShares, Inc. Announces Date of 2021 Fourth Quarter and Year End Financial Results, Earnings Call

NEW YORK, Jan. 10, 2022 /PRNewswire/ -- According to a new survey from CIT Bank conducted by The Harris Poll, an encouraging 70% of Americans are saving the same amount or more money compared to last year. Despite prioritizing their savings, 49% of respondents planning to make a resolution plan to purchase something, such as a material item or subscription service, to maintain their 2022 New Year's resolutions – signaling a potential concern in balancing savings goals with spending temptations.

Savings Are Up, But New Year's Resolutions Bring Financial Requirements

Low-Cost Deposit is a core advantage for First Citizens.

News for First Citizens BancShares Stock (FCNCA)