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 25, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as sole lead arranger on $211 million in financing for the 200-megawatt Oak Solar power plant in Gaston, North Carolina. SunEnergy1 LLC, based in Mooresville, North Carolina, plans to build the solar power facility in two phases, with 100% of the power being sold to the McDonald's Corporation under 17-year power purchase agreement.

First Citizens Bank Serves as Lead Arranger on $211 Million Financing for North Carolina Solar Power Development

New financing underscores demand for the company's leading payments and cash-flow management suite SAN FRANCISCO , July 25, 2023 /PRNewswire/ -- Settle, the leading cash-flow management platform, announced today it has secured up to $145 million credit facility with Silicon Valley Bank, a division of First Citizens Bank, increasing their capacity to support high-growth e-commerce and consumer brands and small businesses. Settle is a cash-flow management platform purpose-built for e-commerce and consumer brands with demanding inventory and cash conversion cycles.

Settle Raises $145M Credit Facility with Silicon Valley Bank

NEW YORK , July 24, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Hemp Business provided a $1 million working capital line of credit to RYJO, parent entity of The Georgia Hemp Company, to help finance a major new promotional initiative. The Georgia Hemp Company currently operates four storefronts in the state of Georgia with locations in Atlanta-Sandy Springs, Woodstock, Decatur, and Duluth.

First Citizens Bank Provides a $1 Million Line of Credit to The Georgia Hemp Company

NEW YORK , July 17, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Real Estate Finance group, part of the CIT division, provided $40 million in construction financing to a joint venture between Grandview Partners and Crosland Southeast for the development of Evelyn City Lofts apartments located in Tampa, Florida. The to-be-built multi-family apartment complex, located in the emerging Seminole Heights neighborhood, will consist of 245 residential units, including 25 affordable housing units, and a five-story covered parking garage.

First Citizens Provides $40 Million in Financing for Florida Apartment Complex Development

NEW YORK , July 17, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as the Coordinating Lead Arranger on a $70.4 million construction and term loan financing facility for two standalone battery energy storage projects in Texas, totaling 160 megawatts (MW) / 320 megawatt-hours (MWh). BankUnited, N.A.

From Jupiter Power: First Citizens Bank Serves as Lead Arranger on $70.4 Million in Financing for Two Texas Battery Storage Projects

NEW YORK , July 12, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Real Estate Finance business, a division of CIT, provided $42.2 million in financing to a joint venture between National Resources and Great Point Media for the development of 1050 North Broadway, a new entertainment production facility 100% pre-leased to MediaPro Studios, located in Yonkers, New York. The new studios will consist of 112,400 square feet of studio, office, warehouse and mill space.

First Citizens Bank Provides $42 Million for Development of New Studio Facilities in Yonkers, NY

NEW YORK , July 11, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance business arranged up to $30 million for affiliates of MSea Capital to refinance MR product tankers.   MSea Capital founded in 2012 is an international maritime investment and asset manager with expertise in tanker and commodity shipping.

First Citizens Bank Provides $30 Million in Financing to MSea Capital

RALEIGH, N.C. , July 6, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the second quarter ended June 30, 2023, before the U.S. financial markets open on Thursday, Aug. 3, 2023.

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

Ally Financial

Ares Management

Bank of America

Citigroup

Cadence Bank

Citizens Financial Group

Comerica

Capital One

First Horizon National

Fifth Third Bancorp

F.N.B. Corp.

Goldman Sachs

JPMorgan Chase & Co

KeyCorp

Morgan Stanley

PacWest Bancorp

PNC Financial Services

Pinnacle Financial Partners

Charles Schwab

Synovus Financial

South State

Truist Financial

U.S. Bancorp

Earnings season for the largest U.S. banks will begin on Friday, July 14, when JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. announce their second-quarter results. Rounding out the “big six” industry group, Bank of America Corp., Goldman Sachs Group Inc. and Morgan Stanley are all scheduled to report on July 18.

These 20 banks have had the largest cuts to earnings estimates

First Citizens BancShares significantly benefited from the acquisition of Silicon Valley Bank, increasing its deposit base, loan book, and diversifying the regional bank. The bank has reassuring levels of liquidity and potential for increased lending opportunities in the venture capital market. Despite a major upside revaluation after the acquisition, shares of First Citizens BancShares are still trading at a discount to book value, indicating potential for further growth.

First Citizens: A Potential Winner Of The Financial Crisis

SVB's leading fintech practice provides home equity lending warehouse facility to Achieve   SAN FRANCISCO , June 28, 2023 /PRNewswire/ --  Silicon Valley Bank (SVB) , a division of First Citizens Bank, today announced that it has provided a $50 million warehouse facility to  Achieve, the leader in digital personal finance . Achieve provides personal loans to help with debt and cash flow, home equity lines of credit, as well as financial tools and education and has helped more than 1.5 million members resolve or consolidate over $17 billion in debt.

Achieve Secures $50 Million Warehouse Facility from Silicon Valley Bank

NEW YORK , June 26, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, arranged to provide Nordic Handysize IV AS, a subsidiary of Nordic Hamburg, $10 million to finance two dry bulk ships. Nordic Hamburg is a full-service ship owner and operator, providing management services for a fleet of more than 80 vessels.

First Citizens Bank Provides $10 Million in Financing to Nordic Hamburg

AAON

Banco Latinoamericano de Comercio Exterior SA

Burford Capital Limited

Copa Hlds

DigitalOcean Holdings

Extreme Networks

Frontline

International Seaways

Dorian LPG

MercadoLibre

North American Energy Partners

ServiceNow

Splunk

Teekay Tankers

Vista Oil & Gas SAB de CV

Vitesse Energy Inc

Wabash National

ServiceNow, Splunk and airline stock Copa among the top growth stocks eyeing 78%-2,900% earnings growth in their next report.

See 18 Top Growth Stocks Eyeing 78% To 2,900% EPS Gain In Q2

American Express

SPDR S&P Regional Banking ETF

M&T Bank

Northern Trust

New York Community Bancorp

Synchrony Financial

Financial Select Sector SPDR Fund

The chairman of the Federal Deposit Insurance Corp. said Thursday that U.S. regulators are considering a plan to include banks with assets as low as $100 billion in the international regime for capital requirements known as Basel III.

FDIC studying plan to include smaller U.S. banks in Basel III capital requirements after failures in early 2023

SVB Financial Group

The $9.5 billion profit posted by First Citizens Bancshares Inc. from a one-time gain on its acquisition of Silicon Valley Bank stands out as the second-largest profit among all banks in the second quarter and is much higher than in any previous quarter for the company.

‘Take-under' deal for Silicon Valley Bank fuels $9.5 billion profit for First Citizens Bancshares

NEW YORK , June 21, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Real Estate Finance business provided a $19.5 million construction loan for the development of Holbrook Logistics Center in Long Island, N.Y. The borrower, an affiliate of Eagle Cliff Real Estate Partners, is building a new 108,000-square-foot distribution center in the Long Island community of Islip.

First Citizens Bank Provides $19.5 Million for Development of Holbrook Logistics Center

Climate tech valuations and investment hold steady SAN FRANCISCO , June 21, 2023 /PRNewswire/ -- With global efforts underway to achieve a goal of net-zero greenhouse emissions by 2050, the climate technology sector is more stable than other sectors, according to a new report from Silicon Valley Bank (SVB), a division of First Citizens Bank. While the venture capital (VC) ecosystem has experienced the most significant valuation correction in over a decade, climate tech valuations have remained at or above their 2021 levels since investors recognize the growing opportunity for climate technologies.

Climate Tech Proves More Resilient; Silicon Valley Bank Releases Annual Climate Tech Report

NEW YORK , June 20, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Maritime Finance group, part of the CIT division, has successfully completed the acquisition of $123 million of Greek shipping loans, sharply increasing the bank's maritime financings for clients in Greece. The loan portfolio, which was acquired from HSBC Bank Plc, covers 11 financings involving 14 vessels and eight clients in one of the world's largest commercial shipping markets.

First Citizens Bank Acquires $123 Million Maritime Portfolio for Greece Vessels

You may not recognize the name First Citizens BancShares Inc. NASDAQ: FCNCA, but you almost certainly know the name of the financial institution it acquired: Silicon Valley Bank.

First Citizens Boosts Assets With SVB Acquisition; Stock Surges

First Citizens Bank named former SVB Chief Credit Officer to lead the industry's most experienced commercial banking team dedicated to the innovation economy  RALEIGH, N.C. , June 8, 2023 /PRNewswire/ -- First Citizens Bank today announced that Marc Cadieux , a 30-year veteran of Silicon Valley Bank ( SVB), has been appointed President of Silicon Valley Bank's commercial banking business.

Marc Cadieux Appointed President of Silicon Valley Bank Commercial

Does First Citizens BancShares (FCNCA) have what it takes to be a top stock pick for momentum investors? Let's find out.

What Makes First Citizens BancShares (FCNCA) a Strong Momentum Stock: Buy Now?

Advanced Micro Devices

Axon Enterprise

QUALCOMM

High-tight flag patterns are extremely rare, powerful, and profitable. Learn how a major fundamental catalyst or industry change can drive a stock to nosebleed levels.

High-Tight Flag: A Rare & Powerful Pattern

NEW YORK , June 7, 2023 /PRNewswire/ -- First Citizens Bank today announced that Marc Heller has been promoted to the position of vice chairman of CIT Commercial Services1, a subsidiary of First Citizens Bank, and that Michael Hudgens has been promoted to the role of CIT Commercial Services president with full responsibility for the day-to-day operation of the business. The new appointments are effective July 1.

First Citizens Bank Announces Promotions in CIT Commercial Services Top Leadership Roles

NEW YORK , June 5, 2023 /PRNewswire/ -- First Citizens Bank today announced that it has named noted commercial banking executive Jim Hudak as president of its CIT Commercial Finance group, a division of First Citizens Bank, effective immediately. With more than 20 years as a commercial finance executive, Hudak is known throughout the industry for his leadership capabilities and strong commitment to customer support and satisfaction.

First Citizens Bank Names Jim Hudak as President of CIT Commercial Finance

Celsius Holdings

Celsius (CELH), MercadoLibre (MELI) and First Citizens (FCNCA) are currently witnessing a short-term pullback in price. So, make sure you take full advantage of it.

3 Momentum Anomaly Picks as Markets Avert Debt Ceiling Crisis

News for First Citizens BancShares Stock (FCNCA)