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FIRST CITIZENS BANCSHARES INC /DE/FCNCA

Sector
Financial Services
Industry
State Commercial Banks
Exchange
Nasdaq

Stock Price $FCNCA

Latest filings

You are here#53 of 58 in Financials by market cap

Filing record · 2016–202610-K1110-Q328-K138

FCNCA filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 138 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · Oct ’19Oct ’19
  3. Deal closed8-K · Jan ’22Jan ’22
  4. Leadership change8-K · Jun ’25Jun ’25

01—Key figures

Share Class
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  4. $9.54B
YoY changeLargest recent move+269.7%in FY23Latest −2.2%

1 older move runs past ±150% (largest +269.7%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All FCNCA Financial Metrics45 metrics

Income Statement10

Balance Sheet16

Cash Flow14

Per Share5

02—Overview

FIRST CITIZENS BANCSHARES INC /DE/ Financial Overview 2021–2025

Updated Aug 15, 2026

First Citizens BancShares engineered a massive $9.81 billiona preliminary acquisition gain in FY2023 by absorbing Silicon Valley Bridge Bank, instantly reshaping its balance sheet. This windfall underscores the core investment thesis: management aggressively leverages opportunistic acquisitions—including the integration of SVBB and CIT Group—to catapult a regional banking franchise into a national financial powerhouse.

The scale of this transformation is visible across the funding base, as total deposits exploded from $51.41 billion in FY2021 to $161.58 billionb by FY2025. That expanding foundation now supports a sprawling commercial operation anchored by a highly efficient 25.2% mix of noninterest-bearing deposits. While net income normalized to $2.21 billion in FY2025—a 21% drop from FY2024 driven by tighter spreads and a 3.25% net interest margin—the bank’s underlying stability remains deeply fortified. First Citizens ended FY2025 with a 13.71% total risk-based capital ratio, providing vast liquidity to weather economic shifts.

Management actively deployed that capital by repurchasing $3.03 billionc of common stock during FY2025, signaling absolute confidence in the firm's post-integration stability. The market recognized this structurally enhanced earnings power, pricing the stock at $2,146.18 at the close of FY2025. Moving forward, the pending absorption of 138 BMO Bank branches will further extend this physical and deposit growth trajectory.

Recent Developments (Q1 and Q2 2026)

First Citizens accelerated earnings momentum in the first half of 2026, with Q2 2026 net income surging 26% sequentially to $640 milliond. This growth was fueled by a $10 million credit loss benefit resulting from a $74 million reserve release and a 47% quarter-over-quarter jump in Commercial Bank net income. Total deposits expanded to $173.4 billion by the end of Q2 2026, driving total assets to $236.8 billion. The bank actively optimized its capital structure by prepaying $2.5 billion on its FDIC Purchase Money Note and issuing $500 million in 4.869% senior notes due 2032.

Bulls highlight the bank’s accelerating deposit gathering and robust asset quality, making the stock appear attractively priced at an 11.8x P/E as of August 7, 2026. Bears warn that increasing deposit costs could quickly compress net interest income, which grew just 2% to $1.66 billione in Q2 2026 despite significantly higher loan volumes.

What to watch: continued reduction of FDIC Purchase Money Note balances; Commercial Bank segment loan yields.

03—Filings

Recent SEC Filings

  1. 8-KFIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Rights Modification (Sep 14, 2026)First Citizens BancShares, Inc. /DE/ (FCNCA) has filed an 8-K report detailing the creation and public offering of its new "7.500% Non-Cumulative Perpetual Preferred Stock, Series F." This new series of preferred stock, represented by depositary shares, was established through a Certificate of Designation filed on September 11, 2026. The offering, conducted under an underwriting agreement with several major financial institutions, involved the sale of 300,000 depositary shares, each representing a 1/100th ownership interest in a share of the Series F Preferred Stock. The company closed this public offering on September 14, 2026. The Series F Preferred Stock carries a fixed dividend rate of 7.500% annually for the first five years, after which it will float based on the five-year treasury rate plus a spread. Importantly, the dividends are non-cumulative, meaning any missed dividend payments are not carried forward. The Series F Preferred Stock ranks on parity with other existing preferred stock series of the company and senior to its common stock. It has no maturity date and is perpetual unless redeemed by the company, which is an option for the company on or after September 15, 2031, or under specific circumstances like a Regulatory Capital Treatment Event. Holders of this new preferred stock have limited voting rights, primarily tied to the non-payment of dividends or significant changes to the stock's terms.
  2. 8-KFIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Corporate Update (Sep 8, 2026)First Citizens BancShares (FCNCA) disclosed in this Form 8-K, filed September 8, 2026, that its banking subsidiary, First-Citizens Bank & Trust Company, completed the acquisition of 138 branches from BMO Bank N.A. The branches are located across the Midwest, Great Plains and West, and the transaction became effective September 4, 2026. Per the attached press release, the bank assumed approximately $5 billion in deposits and $650 million in loans as part of the deal. The acquisition expands First Citizens' retail and commercial footprint into states including North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho, western Minnesota, eastern Oregon and southern Illinois. The bank states it now has more than 600 branches and offices nationwide and more than $225 billion in total assets. The filing does not disclose purchase price, goodwill, capital impact, or expected earnings contribution, so investors should look to subsequent filings and earnings disclosures for those details. For investors, the deal is a deposit-led growth move with modest loan balances relative to the deposit base. The transaction is largely a deposit franchise acquisition, and the stated $1 million community investment is immaterial to financial results. The 8-K itself is informational and contains no new guidance or financial statements.
  3. 8-KFIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Jul 23, 2026)First Citizens BancShares (FCNCA) reported second-quarter 2026 GAAP net income of $672 million, up from $534 million in the first quarter, and GAAP diluted EPS of $55.52 versus $42.63 in the linked quarter. Adjusted EPS (non-GAAP) was $57.09 versus $44.86. Results were helped by a $74 million reserve release that drove a net credit-loss benefit of $10 million, and by a $69 million increase in noninterest income that was partly from a $27 million derivative fair value gain and a $17 million gain on sale of tax credit investments. Net interest income rose 2.2% to $1.66 billion, while net interest margin held essentially flat at 3.10% (3.01% excluding purchase accounting accretion). Management highlighted $600 million of share repurchases and a $2.5 billion prepayment of the FDIC Purchase Money Note, which has now fallen to $28.42 billion from $35.85 billion at September 30, 2025. Balance sheet growth was modest. Loans rose 1.6% to $151.0 billion, led by the Commercial Bank's Global Fund Banking and capital call lines, and deposits rose 1.5% to $173.4 billion, driven by Direct Bank and brokered deposits. Noninterest-bearing deposits fell to 24.5% of total deposits from 25.5%, and the deposit cost ticked up 3 basis points. Credit quality looks stable, with net charge-offs at 0.29% of average loans and nonaccrual loans at 0.96% of loans. The allowance covered nonaccruals only 1.0 times, down from 1.2 times a year earlier. CET1 was 10.77%, down from 10.83% in the first quarter. The pending acquisition of 138 BMO branches, which brings about $5.3 billion of deposits and $700 million of loans, is expected to close in Q3 2026. Management's 3Q26 guidance includes that deal and projects FY26 net interest income of $6.60–6.75 billion. For investors, the key question is how much of the earnings improvement is durable. Excluding the reserve release and notable items, core pre-provision earnings grew more slowly. Expense discipline and a funding mix that is shifting toward deposits are positives. Watch the timing and deposit impact of the BMO integration, the sustainability of fee income, and whether reserve releases continue to support earnings.
  4. 8-KFIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Shareholder Vote Results (May 7, 2026)This 8-K filing by First Citizens BancShares, Inc. (FCNCA) details the outcomes of its 2026 Annual Stockholder's Meeting held on May 4, 2026. The key takeaway for investors is the overwhelming approval of routine corporate governance matters. All 12 director nominees were elected, and the "say-on-pay" advisory resolution to approve executive compensation passed comfortably. Furthermore, the appointment of KPMG LLP as the company's independent auditor for 2026 was ratified with strong support. Notably, a stockholder proposal requesting a report on faith-based employee resource groups was not approved by the majority of shareholders. This suggests that while the company's established governance structure and executive compensation practices have shareholder backing, there is less consensus on this specific social and governance initiative.
  5. 8-KFIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Apr 23, 2026)First Citizens BancShares (FCNCA) reported first quarter 2026 GAAP net income of $534 million, or $42.63 per common share, down from $580 million in the linked quarter. Excluding notable items, adjusted EPS was $44.86 versus $51.27 in 4Q25, a 12.5% decline. The drop was driven primarily by compression in net interest income, which fell $101 million to $1.62 billion as net interest margin declined 11 basis points to 3.09% (3.01% excluding purchase accounting accretion). Lower asset yields from falling rates, reduced loan purchase accounting accretion, and a smaller average securities balance all weighed on results, while the linked quarter also benefited from a gain on tax credit investments. Management characterized EPS, ROE, and ROA as ahead of its expectations, and noninterest expense came in below guidance. Balance sheet activity was mixed but constructive. Deposits grew $9.3 billion (5.7%) to $170.8 billion, led by the Commercial Bank segment and brokered deposits, while loans grew only $762 million (0.5%). Borrowings fell $2.05 billion, including a $2.5 billion prepayment of the FDIC Purchase Money Note, which has declined to $30.9 billion. Capital remained solid, with a CET1 ratio of 10.83% (down from 11.15%) after $900 million of share repurchases and a $400 million preferred stock issuance. Credit quality was stable: net charge-offs fell to 0.30% of average loans from 0.39%, though nonaccrual loans rose 9% to $1.43 billion (0.96% of loans), concentrated in a small number of commercial real estate loans. Looking ahead, management's guidance points to 2Q26 net interest income of $1.60 to $1.67 billion and full-year 2026 net interest income of $6.5 to $6.8 billion, with 0 to 2 rate cuts assumed. Adjusted noninterest expense is guided to $5.34 to $5.43 billion for the year, and the full-year net charge-off ratio is projected at 30 to 40 basis points. The pending acquisition of 138 branches from BMO Bank N.A. and the remaining $1.9 billion of repurchase capacity under the 2025 plan are key items to monitor.
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04—See also

Related Companies

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