FIRST CITIZENS BANCSHARES INC /DE/FCNCA
FIRST CITIZENS BANCSHARES INC /DE/ Financial Overview 2021–2025
Updated Aug 15, 2026First Citizens BancShares engineered a massive $9.81 billion 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 billion 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 billion 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 million. 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 billion in Q2 2026 despite significantly higher loan volumes.
What to watch: continued reduction of FDIC Purchase Money Note balances; Commercial Bank segment loan yields.
Rev
$9.54B
FY2025
NI
$2.21B
FY2025
EPS$FCNCA
$165.24
FY2025
OCF
$2.92B
FY2025
Year-over-year comparison from 10-K annual reports
Data from SEC Company Facts
All FCNCA Financial Metrics(45)
Income Statement
Balance Sheet
Cash Flow
Recent SEC Filings
FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Jul 23, 2026)
First Citizens BancShares, Inc. (FCNCA) has filed an 8-K report on July 23, 2026, to announce its financial results for the quarter ended June 30, 2026. The filing includes a press release (Exhibit 99.1) and a financial supplement (Exhibit 99.3) detailing the company's performance. Additionally, an investor presentation (Exhibit 99.2) will be used during a conference call scheduled for 9 a.m. Eastern time on the same day to discuss these results. Investors should note that the information furnished in this 8-K, including the exhibits, is not considered "filed" under the Securities Exchange Act of 1934, meaning it does not carry the same liability as formally filed documents. However, the attached exhibits provide crucial details on the company's operational and financial condition for the most recent quarter, offering insights into its performance and strategic outlook. Forward-looking statements within these documents are subject to various risks and uncertainties, as detailed in the filing.
FIRST 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.
FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (Apr 23, 2026)
First Citizens BancShares, Inc. (FCNCA) has filed a Form 8-K on April 23, 2026, to report its financial results for the quarter ended March 31, 2026. This filing includes the official earnings release (Exhibit 99.1) and a supplementary financial document (Exhibit 99.3), providing detailed operational and financial condition information. Additionally, an investor presentation (Exhibit 99.2) will be used during a conference call scheduled for the same day to discuss these results. While the specific financial figures and performance metrics are contained within the referenced exhibits, the filing signifies the formal disclosure of the company's quarterly performance. Investors should refer to the attached press release and financial supplement for comprehensive details on revenue, profitability, asset quality, and other key performance indicators for the first quarter of 2026. The company also reiterated forward-looking statements, highlighting a range of potential risks and uncertainties that could impact future financial results.
FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Corporate Update (Mar 3, 2026)
First Citizens BancShares, Inc. (FCNCA) announced the successful completion of a public offering, issuing $500 million in aggregate principal amount of 4.869% Fixed-to-Floating Rate Senior Notes due 2032. This offering was conducted under an existing registration statement and utilized a prospectus supplement dated February 25, 2026. The net proceeds from this issuance will be used for general corporate purposes, providing the company with additional capital to support its strategic initiatives and operational needs. This debt issuance represents a strategic move to strengthen the company's balance sheet and enhance its financial flexibility. The fixed-to-floating rate structure may offer advantages depending on future interest rate movements. Investors in these senior notes are essentially lending to the company, receiving a specified interest rate in return. The company's ability to raise this significant amount of capital underscores its perceived financial stability and market confidence.
FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Rights Modification (Feb 5, 2026)
First Citizens BancShares, Inc. /DE/ (FCNCA) has filed an 8-K report detailing the establishment and successful closing of a public offering for its new 6.625% Non-Cumulative Perpetual Preferred Stock, Series E. This new series of preferred stock, represented by 16,000,000 depositary shares each representing a 1/40th interest, was issued under an underwriting agreement with several major financial institutions. The issuance aims to bolster the company's capital structure and provides investors with a fixed dividend rate for the initial five years, after which it will convert to a floating rate plus a spread. This preferred stock ranks on par with other existing preferred stock series and senior to the common stock regarding dividends and liquidation preferences.
View all 8-K filings →