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.

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NEW YORK , Sept. 9, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as co-lead arranger on a $300 million senior secured credit facility for Swift Current Energy, a leading North American clean energy platform.

First Citizens Bank Serves as Co-Lead Arranger on $300 Million Credit Facility for Swift Current Energy

NEW YORK , Sept. 5, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business served as lead arranger of $115 million in financing for the acquisition of eight skilled nursing facilities in Illinois.

First Citizens Bank Arranges $115 Million in Financing for Illinois Skilled Nursing Facilities

Deutsche Bank

NEW YORK--(BUSINESS WIRE)--Deutsche Bank and First Citizens Bank announced today they served as co-lead arrangers on a $315.7 million financing for four battery energy storage systems in Texas. Deutsche Bank Trust Company Americas served as Administrative Agent on the transaction. SocGen and Siemens joined as Joint Lead Arrangers and BankUnited, Mitsubishi HC Capital, and Bayern LB rounded out the syndicate. All four projects are expected to be operational later this year and collectively repre.

Deutsche Bank and First Citizens Bank Close $315.7 Million Financing for Four Texas Battery Energy Storage Projects

NEW YORK , Sept. 3, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as lead arranger on $145 million in financing on behalf of Linea Energy LLC for the development of advanced renewable energy projects across the U.S. Established in 2002 and headquartered in San Francisco, California, Linea Energy is a renewables platform and independent power producer focused on the development, ownership, and operation of clean energy infrastructure.

First Citizens Bank Arranges $145 Million in Financing for Linea Energy

NEW YORK , Sept. 3, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Asset-Based Lending business served as lead arranger in upsizing the credit facility for SG Credit Partners' asset-based lending verticals comprised of SG Consumer Products and SG Commercial Finance, which focus on sponsor-backed CPG companies and the general lower middle market, respectively.

First Citizens Bank Arranges Credit Facility Upsize for SG Credit Partners' ABL Verticals

NEW YORK , Aug. 7, 2024 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, provided a $45 million revolving credit facility to creative materials distributor, MacPherson's. MacPherson's is the largest creative materials distributor in North America, distributing over 50,000 products from over 200 brands to retailers worldwide.

CIT Northbridge Credit Provides $45 Million to MacPherson's

2024 shaping up to be a strong year for biopharma SAN FRANCISCO , Aug. 7, 2024 /PRNewswire/ -- In the first half of 2024, 89% of US venture capital (VC) funds at or above $25M hit their fundraising targets, marking the second-highest rate in history, according to the latest report from Silicon Valley Bank  (SVB), a division of First Citizens Bank. The 2024 report also found that the biopharma sector could be on track for a record-setting year after reaching high investment levels, particularly in larger deals, with 55 biopharma companies securing deals of $100M or more.

Healthcare Sector Sees Steady Rise in VC Investment and Fundraising; Silicon Valley Bank Releases 14th Edition of Mid-Year Healthcare Investments and Exits Report

RALEIGH, N.C. , Aug. 1, 2024 /PRNewswire/ -- First Citizens Wealth today announced it is expanding its presence in Atlanta to better support growing demand from its core clientele of entrepreneurs and business owners.

First Citizens Wealth Expands Support for Entrepreneurs and Business Owners in Fast-Growing Atlanta Market

First Citizens reported good numbers across the board for Q2'24, beating expectations on every major line item, including better NIM, better fee-based earnings growth, better expense leverage, and lower provisioning. Management continues to grow the loan book at a faster pace than peers and is doing so with solid loan spreads. SVB remains a valuable long-term asset; as IPO activity picks up, it should drive more low-cost deposit growth and better spread leverage and loan growth for FCNCA.

First Citizens Bancshares: A Strong Commercial Lending Franchise And SVB Recovery Are Positives

RALEIGH, N.C. , July 31, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $25 million in financing to F.W.

First Citizens Bank Provides $25 Million to Largest Wholesale Distributor of Plumbing, Heating and Industrial Products in Northeast

NEW YORK , July 30, 2024 /PRNewswire/ -- First Citizens Bank today announced that its CIT Commercial Services unit provided up to $48 million in financing to Crown Crafts Inc. (NASDAQ-CM: CRWS), one of America's largest producers of infant bedding, toddler bedding, bibs, toys and disposable products. The financing, which included a $5 million upsize to a $40 million committed ABL revolving line of credit and a $8 million term loan, was used in part by Crown Crafts to facilitate its recent acquisition of the assets of Baby Boom Consumer Products, a leading provider in the toddler bedding and diaper bag categories.

CIT Commercial Services Provides Up to $48 Million in Financing to Crown Crafts

RALEIGH, N.C., July 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking group is expanding in the Northeastern U.S., leveraging its deep middle market expertise to provide a full-suite of financial solutions to midsize businesses across the region.

First Citizens Expands Middle Market Banking to Serve Northeastern U.S.

First Citizens BancShares, Inc. (NASDAQ:FCNCA ) Q2 2024 Results Conference Call July 25, 2024 9:00 AM ET Company Participants Deanna Hart - SVP, IR Frank Holding - CEO Craig Nix - CFO Tom Eklund - Treasurer Conference Call Participants Steven Alexopoulos - JP Morgan Christopher Marinac - Janney Montgomery Scott Casey Haire - Jefferies Operator Ladies and gentlemen, thank you for standing by and welcome to the First Citizens Bancshares Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.

First Citizens BancShares, Inc. (FCNCA) Q2 2024 Earnings Call Transcript

Although the revenue and EPS for First Citizens (FCNCA) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Here's What Key Metrics Tell Us About First Citizens (FCNCA) Q2 Earnings

First Citizens BancShares (FCNCA) came out with quarterly earnings of $50.87 per share, beating the Zacks Consensus Estimate of $44.91 per share. This compares to earnings of $52.60 per share a year ago.

First Citizens BancShares (FCNCA) Q2 Earnings and Revenues Top Estimates

RALEIGH, N.C. , July 25, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the second quarter of 2024 and announced a share repurchase plan.

First Citizens BancShares Reports Second Quarter 2024 Earnings, Announces Share Repurchase Plan

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.

Earnings Preview: First Citizens BancShares (FCNCA) Q2 Earnings Expected to Decline

NEW YORK , July 17, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $24 million to finance the acquisition of a post-acute medical rehabilitation hospital in Tulsa, Oklahoma. The Sanders Trust acquired the PAM Rehabilitation Hospital of Tulsa, a 53-bed, freestanding inpatient rehabilitation facility totaling 60,932 square feet.

First Citizens Bank Provides $24 Million for Acquisition of PAM Rehabilitation Hospital in Tulsa, Oklahoma

NEW YORK , July 16, 2024 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, provided a $40 million revolving credit facility to B&W Fiber Glass Inc., a distributor of fiber glass and manufacturer of technical textile fiberglass and reinforcement materials. B&W Fiber Glass was founded in 1998 and remains a family owned and operated business headquartered in Shelby, North Carolina.

CIT Northbridge Credit Provides $40 Million to B&W Fiber Glass Inc.

HSBC Holdings

SVB Financial Group

A federal judge in California has dismissed most of First Citizens BancShares' $1 billion lawsuit accusing HSBC of poaching more than 40 employees of Silicon Valley Bank after its high-profile collapse.

Judge trims First Citizens claims that HSBC poached Silicon Valley Bank workers

First Citizens BancShares made one of the most high profile transactions of 2023 when it acquired Silicon Valley Bank, but its stock remains discounted compared to other big banks.

Silicon Valley Bank buyer First Citizens seen as value play among bigger firms

RALEIGH, N.C. , July 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the quarter ended June 30, 2024, before the U.S. financial markets open on Thursday, July 25, 2024.

First Citizens BancShares, Inc. Announces Date of 2024 Second Quarter Earnings Call

Ally Financial

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Bank of New York Mellon

Citigroup

Citizens Financial Group

Capital One

Fifth Third Bancorp

Goldman Sachs

Huntington Bancshares

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SPDR S&P 500 ETF Trust

State Street

Truist Financial

U.S. Bancorp

Wells Fargo

With another round of Federal Reserve stress tests in the books, many large U.S. banks have already announced dividend increases. Analysts at Jefferies compiled the data in a report sent to clients early Monday.

This is how much the largest 20 U.S. banks raised dividends after stress tests

Euroseas

NEW YORK , June 25, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance business provided a senior secured loan of $22 million to Euroseas Ltd. for the financing for a newbuild 2,800 TEU Eco containership.

First Citizens Bank Provides $22 Million to Euroseas Ltd. for Containership Financing

NEW YORK , June 18, 2024 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $35 million revolving line of credit to Network Wireless Solutions, a provider of cable solutions and distributor of hardware infrastructure products. "This financing supports our business operations as we continue to execute on our strategic vision," said Bill Elkin, chief operating officer and chief financial officer at NWS.

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