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 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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First Citizens BancShares (FCNCA) came out with quarterly earnings of $46.58 per share, missing the Zacks Consensus Estimate of $48.49 per share. This compares to earnings of $20.94 per share a year ago.

First Citizens BancShares (FCNCA) Misses Q4 Earnings Estimates

RALEIGH, N.C. , Jan. 26, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the fourth quarter ended December 31, 2023.

First Citizens BancShares Reports Fourth Quarter 2023 Earnings

JACKSONVILLE, Fla. , Jan. 25, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $36.2 million in acquisition financing to Anchor Health Properties to recapitalize three medical office buildings located in Charlotte, North Carolina and Seattle, Washington.

First Citizens Bank Provides $36.2 Million in Financing for Acquisition of Medical Office Buildings in North Carolina and Washington

RALEIGH, N.C., Jan. 22, 2024 /PRNewswire/ -- First Citizens Bank announced today the appointment of James Bennett as executive director of External Affairs.

Bennett Named Executive Director of External Affairs at First Citizens Bank

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.

First Citizens BancShares (FCNCA) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

NAPA, Calif. , Jan. 18, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today released its 2024 State of the US Wine Industry Report.

Silicon Valley Bank Releases 23rd Annual State of the US Wine Industry Report

RALEIGH, N.C. , Jan. 16, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") announced today that Gregory L.

Smith Named Chief Information & Operations Officer at First Citizens BancShares, First Citizens Bank

HSBC Holdings

SVB Financial Group

First Citizens Bank's $1 billion lawsuit accusing HSBC of illegally poaching employees from Silicon Valley Bank (SVB) after its collapse "is confusing and needs to be cleaned up," but the defects do not warrant dismissing the case, a federal magistrate judge has ruled.

First Citizens must 'clean up' claims that HSBC poached Silicon Valley Bank workers

RALEIGH, N.C. , Jan. 4, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the fourth quarter and year ended Dec. 31, 2023, before the U.S. financial markets open on Friday, Jan. 26, 2024.

First Citizens BancShares, Inc. Announces Date of 2023 Fourth Quarter Earnings Call

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RALEIGH, N.C. , Jan. 3, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $16 million in financing to Raymour & Flanigan for the purchase of an existing furniture showroom in White Plains, New York.

First Citizens Provides $16 Million to Raymour & Flanigan for Purchase of Showroom in White Plains, New York

Wintrust Financial

Analyst-recommended bank stocks - First Citizens BancShares (FCNCA) and Wintrust Financial (WTFC) - can be considered for 2024 on solid prospects despite near-term headwinds.

2 Bank Stocks Wall Street Analysts Recommend Buying for 2024

First Citizens Bankshares is a Southeast regional bank with a strong history of organic growth and strategic acquisitions. The recent acquisitions of CIT Group and Silicon Valley Bank have expanded FCNCA's reach and diversified its revenue streams. FCNCA offers an attractive valuation compared to its peers and is poised for strong growth in 2024 through integration, regional economic strength, and focus on specialty banking.

First Citizens BancShares: My Top Pick For 2024

RALEIGH, N.C. , Dec. 20, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, has provided working capital financing via a revolving line of credit to Winona Foods in Green Bay, Wisconsin.

CIT Northbridge Credit Provides Working Capital Financing to Winona Foods

NEW YORK and AUSTIN, Texas , Dec. 19, 2023 /PRNewswire/ -- First Citizens Bank and Jupiter Power LLC ("Jupiter Power") today announced that First Citizens Bank's Energy Finance business and Jupiter Power have closed on $65.2 million in financing for construction of a 200-megawatt (MW) / 400 megawatt-hour (MWh) battery energy storage system in Houston, Texas. Based in Austin, Texas, and Chicago, Illinois, Jupiter Power is a leader in energy storage infrastructure with 775 MWh of operating projects, 620 MWh in construction and more than 11,000 MW of new projects in development from Maine to California.

First Citizens Bank Provides $65.2 Million to Jupiter Power for Standalone Battery Energy Storage Project Financing

RALEIGH, N.C. , Dec. 15, 2023 /PRNewswire/ -- David G.

Leitch Appointed to First Citizens BancShares Board of Directors

NEW YORK , Dec. 12, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Technology, Media and Telecommunications Finance business served as lead arranger of $345 million in financing on behalf of DataBank for construction of a new hyperscale data center in the Atlanta, Georgia, area. A leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, DataBank is expanding its data center capacity to meet the burgeoning demand for artificial intelligence applications.

First Citizens Bank Serves as Lead Arranger on $345 Million in Financing for DataBank Data Center

NEW YORK , Dec. 11, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided $85 million in financing to CVB Inc. Founded in 2003, CVB is the parent company to a leading mattress, bedding and furniture vendor and distributor. Its core home furnishings business features a product assortment including furniture, mattresses, adjustable bed bases, mattress toppers, bed frames, pillows and sheets.

CIT Northbridge Provides $85 Million in Financing to CVB Inc.

NEW YORK , Dec. 7, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business served as joint lead arranger and joint bookrunner on financing for The Halifax Group's acquisition of the Worldwide Home Care division of Sodexo, a global home care services platform for personal and complex services for seniors and individuals with disabilities or chronic conditions. Founded in 2009, the Worldwide Home Care division of Sodexo manages a portfolio of 10 premium brands across eight countries, each with a localized strategy to serve unique patient populations.

First Citizens Serves as Joint Lead Arranger and Joint Bookrunner on Financing for Global Home Care Services Platform

RALEIGH, N.C. , Dec. 6, 2023  /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $10 million in financing to FitLife Brands Inc., a provider of innovative and proprietary nutritional supplements and wellness products, for the strategic acquisition of the sports nutrition brand MusclePharm.

First Citizens Bank Provides $10 Million to FitLife Brands, Inc. for Acquisition of MusclePharm

RALEIGH, N.C. , Dec. 5, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management LLC, served as administrative agent on a $75 million revolving credit facility for Stella & Chewy's LLC.

CIT Northbridge Serves as Administrative Agent on $75 Million Revolving Credit Facility

NEW YORK , Nov. 30, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Asset-Based Lending business, part of the bank's Commercial Finance group, served as co-collateral agent on $75 million in financing for branded consumer products company Turning Point Brands Inc. Based in Louisville, Kentucky, Turning Point Brands is a manufacturer, marketer and distributor of branded consumer products including alternative smoking accessories and consumables with active ingredients through its Zig-Zag and Stoker's brands. Turning Point Brand's products are available online and in more than 215,000 retail outlets in North America.

First Citizens Bank Arranges $75 Million in Financing for Turning Point Brands

NEW YORK , Nov. 29, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business completed two transactions totaling $99.3 million with joint ventures managed by Kayne Anderson Real Estate and Remedy Medical Properties. One joint venture received $75 million in loan proceeds for the acquisition of a surgical hospital, Baylor Scott & White Medical Center, located in Frisco, Texas.

First Citizens Bank Arranges $99.3 Million for Kayne Anderson Real Estate and Remedy Medical Properties Joint Ventures

IBD Stock Of The Day: First Citizens BancShares is actionable near record highs as its Silicon Valley Bank purchase fuels a major rally.

First Citizens Approaches Buy Point Near Record Highs; SVB Boost Fuels 91% Rally In 2023

Here is how First Citizens BancShares (FCNCA) and Brown & Brown (BRO) have performed compared to their sector so far this year.

News for First Citizens BancShares Stock (FCNCA)