01—Abstract
Summary
Summary of the 10-K filed February 24, 2026. Cited figures are marked; the original filing is the authoritative source.
First Citizens BancShares, Inc. (FCNCA) reported its annual results for the fiscal year ending December 31, 2025.
The company experienced a notable decrease in net income to $2.21 billiona from $2.78 billion in the prior year, largely attributed to lower net interest income and increased noninterest expense, partially offset by higher noninterest income and a lower income tax provision. Total assets grew to $229.70 billion, supported by a 4% increase in total deposits to $161.58 billion, with noninterest-bearing deposits representing a healthy 25.2% of the total.
The company continues to execute its share repurchase program, having repurchased $3.03 billionb of its Class A common stock during 2025. Strategically, FCNCA announced an agreement to acquire 138 branches from BMO Bank N.A., expected to close in the second half of 2026, which will expand its footprint in the Midwest, Great Plains, and Western U.S. The company maintained strong capital ratios, exceeding regulatory requirements, and ended the year with a total risk-based capital ratio of 13.71%.
02—Key points
Key Highlights
- Net income decreased by 21% to $2.21 billion compared to the prior year, driven by lower net interest income and higher expenses.
- Total assets grew by 3% to $229.70 billion.
- Total deposits increased by 4% to $161.58 billion, with noninterest-bearing deposits comprising 25.2% of the total.
- The company repurchased $3.03 billion of its Class A common stock in 2025.
- An agreement was announced to acquire 138 BMO Bank N.A. branches, expected to close in the second half of 2026.
- Capital ratios remained strong, with the total risk-based capital ratio at 13.71% as of December 31, 2025.
- Net interest margin decreased by 29 basis points to 3.25% compared to the prior year.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2025filed February 24, 2026Financial Statements
FY2025 against FY2024
| Line item | FY2025FY2024 | Change |
|---|---|---|
| Revenue | $9.54B$9.76B | −2.2% |
| Net Income | $2.21B$2.78B | −20.6% |
| EPS (Basic) | $165.24$189.42 | −12.8% |
| EPS (Diluted) | $165.24$189.41 | −12.8% |
| Shares Outstanding (Basic) | 13.00M14.34M | −9.3% |
| Shares Outstanding (Diluted) | 13.00M14.34M | −9.3% |
05—Questions
Frequently Asked Questions
What was the overall financial performance of First Citizens BancShares in 2025?
First Citizens BancShares reported a net income of $2.21 billion for the year ended December 31, 2025, a decrease from $2.78 billion in the prior year. This decline was primarily due to lower net interest income and increased noninterest expenses, though partially offset by higher noninterest income and a lower tax provision. Total assets grew to $229.70 billion.
What are the key strategic initiatives or significant events for First Citizens BancShares in 2025?
A major strategic development was the announcement of an agreement to acquire 138 branches from BMO Bank N.A., which is expected to close in the second half of 2026 and expand the company's presence in the Midwest, Great Plains, and Western U.S. Additionally, the company continued its share repurchase program, repurchasing $3.03 billion of its Class A common stock during 2025.
How did the company's deposit base and capital position perform?
The company saw a 4% increase in total deposits to $161.58 billion, with noninterest-bearing deposits making up 25.2% of the total, indicating a solid funding base. First Citizens BancShares maintained strong capital adequacy, with its total risk-based capital ratio at 13.71% as of December 31, 2025, exceeding regulatory requirements.
What factors impacted the company's net interest income and margin?
Net interest income decreased by 5% to $6.81 billion, and the net interest margin compressed by 29 basis points to 3.25%. This was mainly due to lower yields on loans and interest-earning deposits at banks, and a decrease in purchase accounting accretion, partially offset by lower rates paid on interest-bearing deposits and growth in average loan and investment securities balances.
06—Continue