FCNCA 10-Q Quarterly Reports

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a solid second quarter for 2026, with net income available to common stockholders reaching $640 million, a significant 26% increase from the prior quarter, driven by improved net interest income and higher noninterest income. Total assets grew to $236.8 billion, supported by a substantial increase in deposits to $173.4 billion. The company continued its proactive debt management, prepaying $2.5 billion on the FDIC Purchase Money Note. Key operational highlights include a decrease in the allowance for loan and lease losses (ALLL) driven by model enhancements and improved credit quality, leading to a benefit for credit losses of $10 million. The company also saw strong performance in its Commercial Bank segment, which reported a 47% increase in net income quarter-over-quarter. While the Rail segment experienced a slight dip in sequential quarterly income, the overall financial health remains robust, with capital ratios comfortably exceeding regulatory requirements.

First Citizens BancShares, Inc. /de/ (FCNCA) reported solid financial results for the first quarter of 2026. Net income available to common stockholders increased by 9% year-over-year to $508 million, or $42.63 per diluted share, driven by a decrease in the provision for credit losses and an increase in noninterest income. The bank's balance sheet saw significant growth, with total assets reaching $235.96 billion, up 2.8% from the prior quarter. Deposits increased by 5.7% to $170.84 billion, bolstered by growth across all segments, particularly in the Commercial Bank and Corporate segments. Borrowings decreased by 5.7% to $33.96 billion, mainly due to prepayments on the FDIC Purchase Money Note and the issuance of new senior unsecured notes. The bank maintained strong capital ratios, well exceeding regulatory requirements, indicating a robust financial position. Management remains focused on managing interest rate risk and liquidity, with significant holdings in high-quality liquid assets and available borrowing capacity, positioning the company for continued stability and growth.

First Citizens BancShares, Inc. (FCNCA) reported solid financial results for the quarter ending September 30, 2025. Net income was $568 million, a slight decrease of 1% from the previous quarter but down 11.2% year-over-year. Despite a notable increase in the provision for credit losses, particularly due to a significant charge-off on a single client, the bank saw growth in net interest income and noninterest income. Loan growth was observed across most segments, with notable expansion in Global Fund Banking. Deposit growth was robust, particularly in noninterest-bearing deposits and within the Direct Bank and SVB Commercial segments, contributing to a strong liquidity position. The company also announced a pending acquisition of 138 branches from BMO Bank, expected to close in mid-2026. Key financial highlights include a stable Net Interest Margin (NIM) of 3.26%, growth in total assets to $233.49 billion and total deposits to $163.19 billion. The bank maintained strong capital ratios, well above regulatory requirements. While the provision for credit losses increased significantly quarter-over-quarter and year-over-year due to higher net charge-offs and economic outlook adjustments, the overall loan portfolio quality remained manageable, with a slight increase in nonaccrual loans but a stable ALLL to loans ratio.

First Citizens BancShares, Inc. (FCNCA) reported solid financial performance for the quarter ended June 30, 2025, with net income available to common stockholders reaching $561 million, a 20% increase from the previous quarter. This growth was driven by a 7% increase in non-interest income and a 2% rise in net interest income, supported by higher average loan balances and improved yields on interest-earning deposits. The company's balance sheet remains robust, with total assets growing to $229.65 billion. Deposits increased by 3% to $159.94 billion, indicating continued customer confidence. Borrowings saw a modest increase, primarily due to recent debt issuances. The company maintained strong capital ratios, well exceeding regulatory requirements, with a Common Equity Tier 1 ratio of 12.12%. The provision for credit losses decreased significantly from the prior quarter, reflecting improved credit quality and a more favorable macroeconomic outlook, with the allowance for loan and lease losses standing at 1.18% of total loans. Management continues to actively manage capital, announcing a new $4.0 billion share repurchase program. The company is well-positioned financially, with a strong liquidity position and diversified funding sources. Investors should note the positive trends in profitability and capital strength, alongside the proactive capital return initiatives.

First Citizens BancShares, Inc. (FCNCA) reported a net income of $483 million for the first quarter of 2025, a decrease from the $700 million recorded in the preceding quarter. This decline was primarily attributed to a significant increase in income tax expense, which rose to $168 million from $36 million in the linked quarter. Despite the dip in profitability, the bank demonstrated growth in its balance sheet. Total assets grew to $228.8 billion from $223.7 billion at the end of 2024, driven by an increase in total deposits to $159.3 billion from $155.2 billion. Loan and lease balances also saw a modest increase to $141.4 billion from $140.2 billion. The bank maintained strong capital ratios, with total risk-based capital at 15.23%, well above regulatory requirements. Management highlighted a strategic shift in segment reporting and the termination of a shared-loss agreement with the FDIC, which will not materially impact current financial statements. The company also continued its share repurchase program, buying back approximately $613 million of Class A common stock in the quarter.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a solid financial performance for the nine months ended September 30, 2024, with net income available to common stockholders reaching $2.03 billion. While net income significantly decreased compared to the same period in the prior year ($10.91 billion), this was largely attributed to a substantial gain on acquisition in the prior year related to the SVBB acquisition. The bank demonstrated loan growth across its segments, with total loans and leases reaching $138.70 billion, up 4% year-to-date. Deposits also grew to $151.57 billion, up 4% year-to-date, indicating continued customer confidence. The bank maintained strong capital ratios, well exceeding regulatory requirements, and a healthy liquidity position with $58.36 billion in high-quality liquid assets. However, the bank experienced an increase in noninterest expense in the current quarter and year-to-date, driven by higher salaries, benefits, and professional fees, partly due to investments in technology and regulatory compliance. Net interest income saw a slight decrease quarter-over-quarter but an increase year-over-date, with a slight compression in net interest margin compared to the prior year, influenced by higher deposit costs and lower purchase accounting accretion. The allowance for loan and lease losses remained robust, though the provision for credit losses saw an increase in the current quarter, partly due to an estimated reserve for Hurricane Helene. Investors should monitor the impact of ongoing investments in technology and compliance on future expenses, as well as the evolving interest rate environment on net interest margin.

First Citizens BancShares, Inc. /de/ (FCNCA) reported a solid quarter with a net income of $707 million for the three months ended June 30, 2024, a slight decrease from the previous quarter but still demonstrating robust profitability. Total assets grew to $219.83 billion, supported by a significant increase in total deposits to $151.08 billion. The company's loan portfolio also expanded to $139.34 billion, with growth across all business segments, particularly in commercial and business loans, TMT, and healthcare sectors, as well as global fund banking. Key financial highlights include a net interest income of $1.82 billion, with a net interest margin of 3.64%. Despite a higher provision for credit losses compared to the linked quarter, driven by a lower benefit for off-balance sheet credit exposure, the company maintained a strong capital position with a Common Equity Tier 1 ratio of 13.33%. The announcement of a new $3.5 billion share repurchase program underscores management's confidence in the company's financial health and commitment to shareholder value.

First Citizens BancShares, Inc. (FCNCA) reported a strong first quarter of 2024, with net income available to common stockholders reaching $716 million, or $49.26 per diluted share. This represents a significant increase from the previous quarter, driven by a substantial decrease in the provision for credit losses and lower noninterest expenses, partially offset by a decline in net interest income. The company's balance sheet showed continued growth, with total loans and leases increasing by 2% to $135.37 billion and total deposits rising by 3% to $149.61 billion. Investment securities also saw a notable increase of 17% to $35.04 billion. Capital ratios remained robust, well exceeding regulatory requirements, indicating a strong financial position. The company's liquidity position was solid, with ample cash and high-quality liquid securities. While the company experienced a slight decrease in net interest margin, this was attributed to a higher cost of deposits and a decline in loan discount accretion. The provision for credit losses saw a significant reduction, reflecting improved macroeconomic forecasts and lower net charge-offs. Management continues to focus on managing interest rate risk and maintaining a strong capital and liquidity position amidst a dynamic economic environment.

First Citizens BancShares, Inc. (FCNCA) reported a substantial increase in total assets to $213.765 billion as of September 30, 2023, primarily driven by the acquisition of Silicon Valley Bridge Bank (SVBB) on March 27, 2023. This acquisition significantly expanded the company's scale, loan portfolio, and deposit base. Net income available to common stockholders for the nine months ended September 30, 2023, reached $10.91 billion, a significant jump from $805 million in the same period last year, largely due to a preliminary after-tax gain on acquisition of $9.89 billion related to the SVBB transaction. Despite the significant asset growth and the integration of SVB, First Citizens demonstrated strong capital adequacy, with all regulatory capital ratios well above minimum requirements. The company's net interest margin remained robust at 4.07% for the quarter, though slightly down from the linked quarter. The provision for credit losses saw an increase, reflecting the growth in the loan portfolio and evolving macroeconomic factors, particularly impacting the commercial real estate and specific SVB loan segments. The company also highlighted strategic efforts to manage its investment portfolio and liquidity, including managing deposit trends and borrowing costs.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported strong financial results for the second quarter of 2023, significantly boosted by the acquisition of Silicon Valley Bridge Bank, N.A. (SVBB). The company saw a substantial increase in total assets to $209.5 billion and total deposits to $141.16 billion, driven by the SVBB transaction. Net income available to common stockholders surged to $10.17 billion for the first six months of 2023, compared to $502 million in the prior year period, largely due to a significant gain on the SVBB acquisition. Net interest income also saw a substantial increase, reflecting the expanded balance sheet and a favorable interest rate environment. Despite increased non-interest expenses related to the acquisition and integration, the company's capital ratios remain robust and well above regulatory requirements. The integration of SVB is progressing, and the company is closely monitoring market developments and regulatory changes. Investors should note the significant impact of the SVBB acquisition on the company's scale and financial performance, while also being aware of the ongoing integration efforts and market dynamics.

First Citizens BancShares, Inc. /de/ (FCNCA) reported a substantial increase in assets and net income for the quarter ending March 31, 2023, primarily driven by the acquisition of Silicon Valley Bridge Bank, N.A. (SVBB). The SVBB acquisition significantly expanded the company's balance sheet, with total assets more than doubling to $214.66 billion, largely due to the inclusion of $68.50 billion in loans and $35.28 billion in cash and interest-earning deposits. This strategic move also significantly boosted net income, which surged to $9.52 billion, largely attributed to a preliminary gain on acquisition of $9.82 billion (net of tax). However, this was partially offset by a substantial provision for credit losses related to the acquired SVBB portfolio. Despite the significant integration efforts and associated expenses, FCNCA maintained strong capital ratios, exceeding regulatory requirements. Management highlighted the continued growth in core banking segments and expressed optimism about the strategic benefits and synergies expected from the SVBB acquisition, while acknowledging the ongoing integration and the evolving economic and banking environment.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a significant increase in net income for the third quarter of 2022, driven largely by the completion of the CIT Group merger in January 2022. Net income available to common stockholders was $303 million, a substantial jump from $119 million in the prior year's third quarter. This growth was primarily fueled by a higher net interest income, which benefited from increased loan volumes and higher interest rates, coupled with the inclusion of the Rail segment's rental income. The balance sheet reflects a substantial expansion due to the CIT merger, with total assets growing to $109.3 billion from $58.3 billion at the end of 2021. Loan and lease balances also saw a significant increase to $69.8 billion. The company maintained strong capital ratios, exceeding regulatory requirements. However, the company also experienced a decline in deposits sequentially, attributed to rate-sensitive customers moving funds, and a notable increase in provision for credit losses, reflecting loan growth and updated macroeconomic forecasts. Overall, the results indicate a transformative period for First Citizens BancShares, with the CIT merger significantly altering its scale and operational scope. Investors should monitor deposit trends, credit quality, and the integration of the newly acquired businesses for future performance indicators.

First Citizens BancShares, Inc. (FCNCA) reported substantial growth in its second quarter 2022 results, largely driven by the acquisition of CIT Group Inc. (CIT) which closed in January 2022. Total assets more than doubled to $107.7 billion from $58.3 billion at year-end 2021. Net income available to common stockholders rose significantly to $238 million from $148 million in the prior-year quarter, though it saw a sequential decrease from Q1 2022 due to lower non-interest income. The company's net interest income increased substantially to $700 million, benefiting from higher interest rates and loan growth, with a net interest margin of 3.04%. The acquisition also significantly expanded the company's loan and deposit base, with total loans and leases reaching $67.7 billion and total deposits at $89.3 billion. The company reported a strong capital position, with its total risk-based capital ratio at 14.46%, exceeding regulatory requirements. While the company benefited from a preliminary gain on acquisition of $431 million in the first quarter, the second quarter reflects the ongoing integration and operational impacts of the expanded business, including new segment reporting and increased operating expenses related to the acquired rail and commercial banking operations.

First Citizens BancShares, Inc. (FCNCA) reported a significant increase in net income for the first quarter of 2022, primarily driven by the completion of its merger with CIT Group Inc. (CIT) on January 3, 2022. This transformative acquisition substantially expanded the company's balance sheet, with total assets growing from $58.3 billion at year-end 2021 to $108.6 billion at the end of the quarter. Net income available to common stockholders surged by 85% year-over-year to $264 million, or $16.70 per diluted share. The company also recorded a preliminary gain on acquisition of $431 million. Operationally, the integration of CIT has led to substantial growth in loans and leases, increasing by over 100% to $65.5 billion, and deposits, which grew by 78% to $91.6 billion. This expansion is reflected across the newly segmented business lines: General Banking, Commercial Banking, and Rail, with the latter two segments primarily representing acquired CIT operations. Despite the significant growth, the Net Interest Margin (NIM) saw a slight decrease of 6 basis points to 2.73%, influenced by higher rates on acquired deposits and a lower yield on acquired loans due to purchase accounting adjustments. The provision for credit losses increased substantially to $464 million, reflecting the adoption of the CECL methodology on acquired portfolios and the initial provision for non-purchased credit-deteriorated loans.

First Citizens BancShares Inc. /DE/ (FCNCA) reported a net income of $124.1 million for the third quarter of 2021, a decrease of 13.0% compared to the same period in 2020. Diluted Earnings Per Share (EPS) also saw a decrease to $12.17 from $14.03 year-over-year. The company experienced a decline in its Net Interest Margin (NIM) to 2.61% from 3.06% in the prior year's quarter, largely due to a persistent low-interest-rate environment and a shift in asset mix towards lower-yielding overnight investments. Despite these pressures, total deposits grew significantly to $50.1 billion, reflecting strong customer confidence and a robust deposit-gathering capability. The company remains well-capitalized, exceeding regulatory requirements, and is progressing with its proposed merger with CIT Group Inc., with the closing date extended to March 1, 2022, pending Federal Reserve approval. For the first nine months of 2021, net income increased by 19.9% to $424.2 million compared to the same period in 2020, with EPS rising to $41.79 from $33.96. This growth was driven by strong noninterest income, which increased by 12.5% year-over-year, particularly in wealth management services and cardholder/merchant services. The company's loan portfolio saw a modest decrease excluding SBA-PPP loans, but the overall financial health appears stable, supported by a substantial deposit base and strong capital ratios. Investors should closely monitor the progress of the CIT merger and the impact of the evolving interest rate environment on net interest income and margins.

First Citizens BancShares, Inc. (FCNCA) reported solid financial results for the second quarter and the first half of 2021. Net income for the first six months of 2021 increased by a significant 42.3% year-over-year to $300.1 million, reflecting strong operational performance and a favorable economic environment. This growth was driven by improved net interest income, a significant release of provisions for credit losses, and robust noninterest income, partially offset by increased noninterest expenses. The company's balance sheet strengthened, with total assets growing to $55.2 billion as of June 30, 2021. Deposits saw substantial growth, reaching $48.4 billion, an increase of 23.1% annualized from the end of 2020, largely due to organic growth and government stimulus. While total loans saw a slight decrease, excluding SBA-PPP loans, there was healthy organic loan growth. The company's capital position remains strong, with all key ratios exceeding regulatory requirements for a well-capitalized institution. The upcoming merger with CIT Group Inc. is progressing, with regulatory approvals obtained and closing anticipated in the third quarter of 2021, which is expected to be transformative for the company.

First Citizens BancShares, Inc. (FCNCA) reported strong first-quarter 2021 results, with net income significantly increasing by 157.7% year-over-year to $147.3 million, translating to earnings per common share of $14.53, up from $5.46 in the prior year period. This robust performance was driven by a substantial increase in noninterest income, largely due to favorable fair market value adjustments on marketable equity securities and strong mortgage income. The company also benefited from continued deposit growth, with total deposits reaching $47.3 billion, a 36.4% annualized increase from the end of 2020. Despite a decline in net interest margin (NIM) to 2.80% from 3.55% year-over-year, primarily due to a shift towards lower-yielding overnight investments and a decrease in overall asset yields, net interest income saw a slight increase. This was supported by interest and fee income from Small Business Administration Paycheck Protection Program (SBA-PPP) loans and organic loan growth. The company's balance sheet remains strong, with total assets growing to $53.9 billion and capital ratios well exceeding regulatory requirements. The pending merger with CIT Group Inc. is progressing, with an anticipated closing in mid-2021, which is expected to further enhance the company's market position.

First Citizens BancShares, Inc. (FCNCA) reported solid financial results for the third quarter and first nine months of 2020. Net income increased by 14.3% year-over-year in the third quarter, reaching $142.7 million, with earnings per share rising to $14.03. For the nine-month period, net income was $353.6 million, a slight decrease of 0.5% compared to the prior year, though earnings per share increased by 7.8% to $33.96. The company maintained a strong capital position, with regulatory capital ratios well exceeding Basel III requirements. Total assets grew significantly to $48.67 billion by September 30, 2020, driven by a substantial increase in deposits, which grew by 7.4% in the third quarter and 25.3% year-to-date (excluding SBA-PPP deposits). Loan growth was also robust, increasing by 5.2% in the third quarter and 3.9% year-to-date (excluding SBA-PPP loans). The company announced a significant merger with CIT Group Inc. on October 15, 2020, expected to close in the first half of 2021, which is anticipated to expand its market presence.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a strong second quarter of 2020, with net income available to common shareholders reaching $149.0 million, a significant increase from $119.4 million in the prior year's second quarter. This growth was driven by several factors, including robust noninterest income, particularly from marketable equity securities, and gains on the sale of investment securities. Despite a decline in net interest income after provisioning, the bank benefited from substantial loan and deposit growth, partly fueled by the Paycheck Protection Program (PPP) and government stimulus measures. Despite the ongoing economic uncertainties stemming from the COVID-19 pandemic, which led to an increased provision for credit losses, FCNCA maintained a strong capital and liquidity position. The adoption of the CECL (Current Expected Credit Losses) model at the beginning of 2020 also impacted the allowance for credit losses, resulting in a net decrease initially, but with a reserve build due to COVID-19 impacts. The bank's strategic focus on organic growth and acquisitions, coupled with a solid capital base, positions it to navigate the current economic environment.

First Citizens BancShares, Inc. (FCNCA) reported a net income of $57.2 million for the first quarter of 2020, a significant decrease of 48.7% compared to the same period in 2019. This decline was primarily driven by a substantial unrealized loss of $51.4 million in their marketable equity securities portfolio and an increased provision for credit losses of $21.5 million, largely attributed to the anticipated economic impact of COVID-19. Despite the decrease in net income, the company maintained a strong financial position. Total assets grew to $41.6 billion, supported by a robust increase in total deposits to $35.3 billion. Loan growth was modest, increasing by 5.0% to $29.2 billion. The company also successfully completed a $695 million capital raise through subordinated notes and preferred stock issuance, strengthening its capital position. Regulatory capital ratios remained well above well-capitalized limits, indicating resilience in the face of economic uncertainties.

First Citizens BancShares, Inc. (FCNCA) reported strong financial results for the nine months ended September 30, 2019, demonstrating significant growth in net income and net interest income compared to the same period in 2018. Net income rose by 14.4% to $355.5 million, with earnings per share increasing by 21.6% to $31.50. This performance was driven by a 10.8% increase in net interest income to $984.2 million, supported by a growing loan portfolio and a stable net interest margin. The company also saw substantial growth in both total loans and total deposits, reflecting successful organic growth and the integration of recent acquisitions. The company actively pursued strategic growth through several acquisitions completed in 2019, including First South Bancorp and Biscayne Bancshares, with additional acquisitions, Entegra Financial Corp. and Community Financial Holding Co. Inc., pending regulatory approval. These initiatives, combined with a focus on operational efficiency and customer-centric banking principles, position FCNCA for continued expansion. Despite a slight increase in nonperforming assets, the company's capital ratios remain well above regulatory requirements, indicating a strong financial position.

First Citizens BancShares, Inc. (FCNCA) reported a strong financial performance for the second quarter and the first six months of 2019, driven by significant growth in net income, net interest income, and total assets. The company's strategic focus on organic growth and acquisitions has yielded positive results, with net income increasing by 27.9% year-over-year for the quarter and 19.2% year-to-date. This growth was supported by an expanding loan and deposit base, fueled by both strategic mergers and organic expansion, particularly in commercial and residential mortgage portfolios. Profitability metrics such as return on average assets and return on average equity showed substantial improvement, reflecting efficient operations and effective capital deployment. The company maintained strong capital ratios, exceeding regulatory requirements, indicating a robust financial position. While noninterest income saw a slight dip year-to-date, primarily due to a large debt extinguishment gain in the prior year, core fee income drivers like cardholder services showed healthy growth. Management's outlook suggests potential margin compression due to changing interest rate expectations and increased competition, but the company's disciplined lending standards and focus on core deposit growth provide a solid foundation for navigating future market dynamics.

First Citizens BancShares Inc. /DE/ (FCNCA) reported solid financial results for the first quarter of 2019, demonstrating growth in key areas and a strong capital position. Net income rose by 11.1% year-over-year to $111.4 million, translating to a 15.8% increase in earnings per share to $9.67, partly due to common stock repurchases. The company's net interest income saw a significant increase of 12.7%, driven by higher average loan balances and improved loan yields, resulting in a widened net interest margin (NIM) of 3.89%. While noninterest income saw a decrease of 15.5%, largely due to the absence of a debt extinguishment gain from the prior year, improvements were noted in cardholder services and wealth management income. Noninterest expense remained stable, with slight decreases in FDIC insurance and foreclosure-related costs offsetting increases in salaries and equipment. The company's loan portfolio remained stable, with a slight decrease of 0.9% in total loans and leases, while deposits showed robust growth of 6.9%, indicating effective deposit gathering strategies. FCNCA maintained a strong capital position, exceeding regulatory requirements, and completed three strategic acquisitions during the quarter, signaling a commitment to expansion and market presence.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported solid financial performance for the nine months ended September 30, 2018, with net income of $310.8 million, or $25.91 per share, a notable increase from the prior year's period. This growth was driven by strong net interest income, benefiting from loan growth and improved yields, as well as effective management of noninterest expenses. The company also completed three strategic acquisitions during the period, expanding its geographic footprint and enhancing its service offerings. The company's balance sheet reflects a growing loan portfolio, totaling $24.9 billion, with a healthy mix of commercial and noncommercial loans. Deposits also saw an increase, providing a stable funding base. BancShares maintained strong capital adequacy ratios, exceeding regulatory requirements, underscoring its financial stability. Despite some market headwinds such as rising interest rates impacting investment securities, the company demonstrated resilience and strategic execution.

First Citizens BancShares, Inc. (FCNCA) reported solid financial performance for the second quarter and first half of 2018. The company demonstrated loan and deposit growth, supported by a completed acquisition and organic expansion. Net interest income saw a significant increase year-over-year, driven by higher loan and investment yields, and a favorable interest rate environment. Noninterest income remained robust, though impacted by the absence of large acquisition gains present in the prior year's comparable periods. Capital levels remain strong, exceeding regulatory requirements, and the company is actively managing its balance sheet. The company completed the acquisition of HomeBancorp, Inc. in May 2018 and has announced agreements to acquire Palmetto Heritage Bancshares, Inc. and Capital Commerce Bancorp, Inc. later in the year, signaling continued strategic expansion. Despite a slight decrease in net income compared to the prior year's periods, largely due to the absence of significant acquisition gains in 2017, the underlying operational performance remains positive.

First Citizens BancShares, Inc. (FCNCA) reported a strong first quarter of 2018 with net income of $100.2 million, an increase of 48.2% compared to the same period in 2017. This performance was driven by robust net interest income growth, a gain from debt extinguishment, and increased noninterest income. The bank's net interest margin improved to 3.57% on a taxable-equivalent basis, reflecting higher loan and investment yields and strong deposit growth. The company also highlighted its solid capital position, with Tier 1 risk-based capital ratio at 13.38%, exceeding regulatory requirements. The recent acquisition of HomeBancorp, Inc. is expected to expand FCB's footprint in Florida. While loan growth was modest, deposit growth was significant, indicating a stable funding base.

First Citizens BancShares, Inc. /DE/ reported a solid third quarter of 2017, with net income of $67.1 million, or $5.58 per share. This represents a significant increase from the same period in the prior year, driven by strong growth in net interest income and successful acquisitions. The company's net interest margin improved, reflecting higher loan volumes and favorable interest rate movements. The balance sheet remains robust, with total assets reaching $34.6 billion and shareholders' equity at $3.3 billion. The company successfully integrated two FDIC-assisted acquisitions (Guaranty Bank and Harvest Community Bank) during the year, which contributed positively to both loan growth and non-interest income. Despite a challenging interest rate environment, First Citizens BancShares has strategically focused on core customer deposits and loans, growth in non-interest income sources, and efficient expense management to maintain profitability. The company also maintained strong capital ratios, well above regulatory requirements, indicating a stable financial position.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a strong second quarter for 2017, driven by successful acquisitions and solid organic growth. The company's net income more than doubled year-over-year, reaching $134.7 million, or $11.21 per share, a significant improvement from $69.3 million, or $5.77 per share, in the same period of the previous year. This performance was boosted by a substantial gain on the acquisition of Guaranty Bank, contributing $122.7 million pre-tax. The company's net interest income also saw robust growth, up 12.7% year-over-year, supported by increased loan volumes and a favorable interest rate environment. The net interest margin expanded by 15 basis points to 3.28%, reflecting effective asset and liability management. Total assets grew to $34.8 billion, with loans and leases increasing by 10.5% to $22.9 billion, driven by both acquisitions and organic portfolio growth. Deposits also increased by 8.1% year-over-year to $29.5 billion, underscoring the company's stable funding base. Despite a slight increase in nonperforming assets, the company maintained strong capital adequacy ratios, well above regulatory minimums, demonstrating a sound financial position.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a strong first quarter in 2017, with net income increasing to $67.6 million, or $5.63 per share, a notable rise from $52.1 million, or $4.34 per share, in the same period of the previous year. This growth was driven by a combination of organic loan and deposit expansion, as well as a significant gain from the acquisition of Harvest Community Bank (HCB) in January 2017. The HCB acquisition contributed $85.1 million in loans and $121.8 million in deposits, resulting in a $12.0 million gain on acquisition, positively impacting the company's financial performance. The bank maintained a healthy net interest margin of 3.25%, up from 3.18% in the prior year's first quarter, benefiting from improved investment yields and increased loan and investment portfolio balances. Asset quality remained stable, with nonperforming assets decreasing year-over-year. Favorable regulatory capital ratios, including a Tier 1 risk-based capital ratio of 12.57%, demonstrate the company's strong financial foundation.

First Citizens BancShares, Inc. /DE/ reported solid financial performance for the nine months ended September 30, 2016, with net income reaching $172.8 million, a modest increase from $167.6 million in the same period of 2015. Total assets grew to $32.97 billion, driven by loan growth and acquisitions. The company successfully integrated three FDIC-assisted acquisitions (Cordia Bancorp, First CornerStone Bank, and North Milwaukee State Bank) during the year, which contributed to a 7.0% annualized increase in loans and leases to $21.30 billion. Despite a slight compression in net interest margin to 3.10% for the third quarter, the company demonstrated effective management of its deposit base, with deposits increasing by 9.7% on an annualized basis. The early termination of five FDIC loss share agreements provided a one-time pre-tax benefit of $20.0 million, positively impacting earnings. The company maintained strong capital ratios, exceeding minimum regulatory requirements under Basel III, with a Tier 1 risk-based capital ratio of 12.50% at quarter-end.

First Citizens BancShares, Inc. /de/ (FCNCA) reported strong performance for the second quarter of 2016, with net income increasing to $69.3 million, or $5.77 per share, a significant rise from $44.5 million, or $3.71 per share, in the same period of the prior year. This growth was driven by a combination of organic loan expansion, successful FDIC-assisted acquisitions (First CornerStone Bank and North Milwaukee State Bank), and a beneficial one-time impact from the early termination of FDIC loss share agreements, which added $16.6 million pre-tax to earnings. The company's balance sheet remained robust, with total assets growing to $32.23 billion. Loans and leases increased by 5.0% to $20.74 billion, reflecting both organic growth and contributions from recent acquisitions. The allowance for loan and lease losses remained strong at $208.0 million, with the ALLL to total loans and leases ratio at 1.00%, indicating prudent credit risk management. Capital ratios remained well above regulatory requirements, demonstrating a solid capital position.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported its first quarter 2016 results, showing a net income of $52.1 million, or $4.34 per share, a decrease from $67.2 million, or $5.59 per share, in the same period of 2015. This decline was largely impacted by a significant gain on acquisition of $42.9 million recorded in the prior year's first quarter for the Capitol City Bank & Trust acquisition, which was not repeated in the current quarter. However, the current quarter benefited from a $1.7 million gain on the acquisition of North Milwaukee State Bank (NMSB). The bank experienced loan growth of $177.7 million, reaching $20.42 billion, driven by originated portfolio growth and the NMSB acquisition. Deposits also saw a healthy increase of $434.5 million, primarily from organic growth in low-cost accounts. The net interest margin remained stable year-over-year at 3.18%, benefiting from originated loan growth and improved overnight investment yields, though partially offset by the runoff of purchased credit-impaired (PCI) loans. Capital ratios remain strong, exceeding regulatory requirements.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a strong performance for the nine months ended September 30, 2015, with net income significantly increasing to $167.6 million ($13.96 per share) from $75.7 million ($7.87 per share) in the prior year period. This growth was largely driven by strategic acquisitions, including the merger with First Citizens Bancorporation, Inc. and the FDIC-assisted acquisition of Capitol City Bank & Trust (CCBT), which contributed significantly to asset and deposit growth. The company also saw a substantial increase in interest income, largely due to loan growth and higher yields on investment securities, coupled with a reduction in interest expense. The balance sheet reflects robust asset growth, with total assets reaching $31.45 billion at September 30, 2015, up from $30.08 billion at December 31, 2014. This growth was supported by a significant increase in deposits, particularly non-interest-bearing deposits, and managed by strong capital ratios which remained well above regulatory requirements under Basel III guidelines. The company's loan portfolio also saw healthy growth, with both non-PCI and PCI loans showing increases, though the PCI portfolio continued to decline due to run-off. Asset quality remained a focus, with nonperforming assets as a percentage of total loans and OREO decreasing from the prior year.

First Citizens BancShares, Inc. reported strong financial performance for the six months ended June 30, 2015, driven by significant acquisitions and organic loan growth. Net income more than doubled to $111.7 million, or $9.30 per share, compared to $49.2 million, or $5.11 per share, in the prior year period. This growth was bolstered by the acquisition of Capitol City Bank & Trust Company (CCBT) and First Citizens Bancorporation, Inc. (Bancorporation), which contributed positively to interest and non-interest income. The company demonstrated robust asset quality, with nonperforming assets decreasing by 15.1% sequentially. The allowance for loan and lease losses remained adequately positioned relative to the loan portfolio. BancShares also maintained strong capital ratios, exceeding regulatory requirements under Basel III, indicating a solid financial foundation. The company's liquidity position was also strong, with substantial free liquidity available.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a solid first quarter in 2015, demonstrating significant year-over-year growth driven by strategic acquisitions and organic loan expansion. Net income rose substantially to $63.8 million, or $5.31 per share, from $22.5 million, or $2.34 per share, in the prior year period. This performance was bolstered by a $37.6 million gain on the acquisition of Capitol City Bank & Trust Company (CCBT) and the ongoing integration of the Bancorporation merger completed in late 2014. The company's balance sheet expanded, with total assets reaching $30.85 billion, up from $30.08 billion at the end of 2014. Deposits also grew to $26.3 billion, reflecting strong core deposit retention and contributions from the CCBT acquisition. While the net interest margin saw some compression compared to the prior year due to a declining PCI loan portfolio and prevailing low interest rates, overall interest-earning assets grew, supported by improved investment yields and continued loan growth. Noninterest income saw a significant uplift, largely due to the CCBT acquisition gain and contributions from other fee-based services. Asset quality remained robust, with nonperforming assets decreasing year-over-year. The company maintained strong capital ratios, exceeding regulatory requirements under the newly implemented Basel III guidelines. Overall, FCNCA presented a positive financial picture for the first quarter of 2015, characterized by strategic growth, enhanced profitability, and a stable financial foundation.

First Citizens BancShares, Inc. (FCNCA) reported its third-quarter and nine-month results for 2014, highlighting a mixed financial performance influenced by the ongoing integration of acquisitions and a dynamic economic environment. The company experienced a year-over-year decrease in net income, largely attributed to a decline in accretion income from acquired loans and a reduction in loan loss provision credits. Despite these headwinds, originated loan growth and improved credit quality remained positive trends. The balance sheet shows growth in total assets, driven by a significant merger with First Citizens Bancorporation, Inc. completed on October 1, 2014. While deposits saw a modest increase, the company also increased its short-term borrowings to manage liquidity. Capital ratios remain strong, exceeding regulatory requirements, indicating a stable financial position. Investors should note the company's continued focus on managing risk, particularly credit risk, and its ongoing investments in technology to maintain competitiveness.

First Citizens BancShares, Inc. reported its Q2 2014 financial results, showing a net income of $26.6 million, or $2.76 per share. This represents a decrease from the same quarter in the prior year, largely due to lower net interest margins and a runoff in the acquired loan portfolio, which is being replaced by lower-yielding originated loans. However, the company saw improvements in organic loan growth and asset quality. The company announced a significant merger agreement with First Citizens Bancorporation, Inc., expected to close in Q4 2014, which will involve a combination of stock and cash for Bancorporation shareholders. This strategic move aims to enhance the company's market position. Despite a challenging interest rate environment and margin compression, BancShares remains well-capitalized, exceeding regulatory capital standards. The company continues to focus on risk management, particularly credit and interest rate risk, and has implemented necessary changes to comply with new mortgage regulations. Investors should note the ongoing integration of acquired assets, the strategic impact of the pending merger, and the bank's commitment to maintaining strong capital ratios and asset quality. The financial performance, while showing year-over-year declines in key profitability metrics, reflects a strategic shift towards organic growth and a focus on long-term stability.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a net income of $22.4 million for the first quarter of 2014, a decrease from $55.6 million in the same quarter of the prior year. This decline was primarily driven by lower net interest income, influenced by nonrecurring adjustments and a decline in FDIC-assisted loan portfolios, although partially offset by improved investment yields and reduced funding costs. The company completed a merger with 1st Financial Services Corporation on January 1, 2014, which expanded its presence in Western North Carolina and added $316.3 million in loans and $631.9 million in deposits. Despite the decrease in net income, the company maintained strong capital ratios, with a Tier 1 leverage ratio of 9.66% and a total risk-based capital ratio of 16.05%, both comfortably exceeding regulatory requirements. Total assets grew to $22.15 billion from $21.20 billion at the end of 2013, largely due to the 1st Financial merger. Deposits also saw a significant increase, reaching $18.76 billion. The company continues to focus on managing credit risk and interest rate risk, with initiatives in place to address evolving regulatory requirements.

First Citizens BancShares, Inc. (FCNCA) reported solid financial results for the nine months ended September 30, 2013. The company demonstrated a notable increase in net income, driven by a significant reduction in the provision for loan and lease losses, coupled with higher noninterest income. This was partially offset by lower net interest income and increased income tax expense. The company's originated loan portfolio saw growth, particularly in commercial mortgage and commercial and industrial loans, reflecting an improved loan demand and the company's focus on small business customers. Despite a challenging low-interest-rate environment impacting net interest margins, FCNCA maintained strong capital ratios, comfortably exceeding regulatory requirements. The company also continued to manage its balance sheet effectively, with stable deposit balances and a strategic focus on retaining core deposits. The integration of FDIC-assisted transactions continued to influence financial results, contributing to both favorable and unfavorable impacts on earnings due to post-acquisition accounting adjustments and loan performance. Management expressed optimism about continued originated loan growth for the remainder of 2013 and into 2014, contingent on economic stability. The company is actively managing its risk profile, with a particular focus on credit risk, interest rate risk, and liquidity risk, and is preparing for upcoming regulatory changes such as Basel III implementation.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a net income of $43.9 million for the second quarter of 2013, a notable increase from $37.6 million in the same period of 2012. This improved profitability was driven by a significant reduction in the provision for loan and lease losses, higher noninterest income primarily from merchant and mortgage activities, and lower noninterest expense, particularly in foreclosure-related costs. Despite a decrease in net interest income due to lower asset yields and a shrinking acquired loan portfolio, the company's strategic focus on operational efficiency and prudent risk management contributed to a stronger financial performance. The company continues to navigate a challenging economic environment marked by low interest rates and evolving regulatory landscapes. However, First Citizens BancShares has demonstrated resilience, successfully integrating acquisitions from FDIC-assisted transactions and maintaining a strong liquidity position. The balance sheet remains robust with stable deposit levels and sufficient capital adequacy ratios, exceeding regulatory requirements. The company's ongoing investment in technology modernization aims to enhance efficiency and manage operational risks.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported solid first quarter 2013 results, demonstrating a significant year-over-year improvement in net income, driven by a substantial reduction in the provision for loan and lease losses and an increase in noninterest income. Net income rose to $55.6 million from $35.5 million in the prior year's quarter. This growth was primarily attributable to a considerable decrease in the provision for loan and lease losses, particularly for covered loans, reflecting improved cash flow projections and reversals of previously recognized impairments. The company also benefited from higher noninterest income, largely due to the sale of processing service relationships. Despite a decrease in net interest income due to lower asset yields and loan shrinkage, the bank's strategic participation in FDIC-assisted transactions continued to shape its balance sheet, with covered loan balances declining as expected. The company maintains strong capital adequacy ratios, exceeding regulatory minimums, and continues to manage its balance sheet prudently in a challenging economic environment. Management is focused on adapting to ongoing regulatory changes and investing in core technology systems to enhance future operations.

First Citizens BancShares, Inc. reported a net income of $39.5 million for the third quarter of 2012, a decrease from $81.4 million in the same quarter of the prior year. This decline was primarily due to the absence of significant acquisition gains realized in 2011 from FDIC-assisted transactions. Core operations showed mixed results, with net interest income decreasing slightly due to loan shrinkage, while the provision for loan and lease losses significantly decreased due to improved cash flow projections on FDIC-covered loans. The company continues to manage the impacts of past FDIC-assisted transactions, with ongoing adjustments to the FDIC receivable affecting noninterest income. The company also experienced a decline in noninterest income from cardholder and merchant services, partly attributed to new regulations on debit card interchange fees. Noninterest expenses were managed down year-over-year. Capital ratios remain strong and well above regulatory requirements, though the company is preparing for the impact of Basel III regulations and the phasing out of trust preferred securities from tier 1 capital.

First Citizens BancShares Inc. /DE/ (FCNCA) reported a net income of $37.6 million for the second quarter of 2012, a significant increase from $21.3 million in the same period of the previous year. This growth was primarily driven by a substantial increase in net interest income, which rose by 3.9% to $215.4 million, and a decrease in the provision for loan and lease losses, which fell by 45.2% year-over-year to $29.7 million. Despite a decline in non-interest income, largely due to the absence of acquisition gains recorded in the prior year and lower cardholder and merchant services revenue following new regulations, the company's overall financial performance showed improvement. The bank continues to strategically manage its balance sheet, with total assets growing to $21.24 billion. The company's capital ratios remain strong, exceeding regulatory requirements, underscoring its financial stability. Investors should note the ongoing impact of FDIC-assisted transactions and the evolving regulatory landscape, which management is actively navigating.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a net income of $35.5 million for the first quarter of 2012, a decrease from $61.8 million in the prior year's first quarter. This decline was primarily attributed to the absence of acquisition gains that were present in the first quarter of 2011 from the United Western transaction. Despite this, core operations showed strength with net interest income increasing by $17.0 million, driven by higher discount accretion on acquired loans and lower funding costs. The company's balance sheet remains robust, with total assets reaching $21.14 billion and shareholders' equity at $1.89 billion. Capital ratios comfortably exceed regulatory requirements, indicating a strong financial position. The company's participation in FDIC-assisted transactions continues to be a significant factor, providing growth opportunities while also necessitating careful management of post-acquisition accounting adjustments. The loan portfolio shows a slight increase in non-covered loans, offset by a decrease in covered loans due to ongoing run-off. Non-interest income was impacted by lower debit interchange fees due to new regulations, a recurring trend expected to continue. Overall, FCNCA demonstrates a well-capitalized position and managed core operations, though the absence of prior-year acquisition gains impacted year-over-year net income comparisons.

First Citizens BancShares, Inc. reported solid performance for the nine months ended September 30, 2011, with net income of $165.0 million ($15.85 per share). This represents a slight increase over the same period in 2010, primarily driven by significant acquisition gains from FDIC-assisted transactions. The company actively participated in FDIC-assisted acquisitions, notably the United Western Bank and Colorado Capital Bank, which contributed positively to overall asset growth and generated substantial acquisition gains. While core earnings faced pressure from challenging economic conditions, including low interest rates and a growing inability for some customers to meet debt obligations, the company's strategic participation in FDIC-assisted deals, supported by loss-share agreements, provided crucial protection against asset quality risks. This strategic approach has allowed for market expansion and growth. Looking ahead, management anticipates that loan growth will remain constrained by weak loan demand and customer deleveraging efforts. The company is focused on increasing fee income through wealth management, cardholder services, and other fee-based products. While acknowledging potential volatility in net interest income due to discount accretion on acquired loans, the company remains well-capitalized and focused on prudent risk management.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported a significant increase in net income for the third quarter of 2011 compared to the prior year, driven primarily by gains from FDIC-assisted acquisitions. For the nine months ended September 30, 2011, net income remained largely stable year-over-year, with acquisition gains largely offsetting increases in operational expenses and provisions for loan losses. The company continued its strategy of growth through FDIC-assisted transactions, completing acquisitions of United Western Bank and Colorado Capital Bank, which contributed substantially to noninterest income through acquisition gains. Despite overall loan growth driven by these acquisitions, overall net interest income saw a slight decrease quarter-over-quarter due to lower yields on acquired loans and reduced discount accretion, although year-over-year net interest income increased due to higher discount accretion and favorable deposit costs. Despite economic challenges including lingering recessionary effects and soft loan demand, the company's capital ratios remained strong, exceeding regulatory requirements. Management expressed confidence in the company's liquidity position and ongoing strategies to manage credit and interest rate risks.

First Citizens BancShares, Inc. /DE/ (FCNCA) reported its financial results for the quarter ending June 30, 2011. The company's total assets were $21.02 billion, a slight increase from the previous quarter and year-over-year. Net income for the second quarter of 2011 was $21.3 million, a decrease from $28.6 million in the prior year's second quarter. This decline was largely attributed to acquisition gains recognized in the first quarter of 2010 from FDIC-assisted transactions, which were partially offset by acquisition gains from the United Western transaction in the first quarter of 2011. The company's net interest income showed a significant increase of 25.8% year-over-year, driven by balance sheet growth from acquisitions and discount accretion on acquired loans. However, the provision for loan and lease losses also increased substantially due to the post-acquisition deterioration of covered loans. Noninterest income decreased due to unfavorable adjustments related to FDIC receivables. The company continues to actively participate in FDIC-assisted transactions, which have provided growth opportunities and protection against asset quality risks through loss-share agreements.

First Citizens BancShares, Inc. (FCNCA) reported its first quarter 2011 financial results, demonstrating a mixed performance shaped by significant FDIC-assisted acquisitions and a challenging economic environment. While net income declined compared to the prior year, largely due to one-time acquisition gains recognized in Q1 2010, the company saw substantial growth in net interest income driven by balance sheet expansion and discount accretion from acquired loans. The acquisition of United Western Bank in January 2011 contributed positively, adding scale and market presence, with FDIC loss-share agreements mitigating substantial credit risk. However, the company faced increased provision for loan losses and higher noninterest expenses related to integration and operational costs. Despite the year-over-year decrease in net income, FCNCA maintained strong capital adequacy ratios, exceeding regulatory requirements and positioning itself as well-capitalized. The company's strategic focus on retaining core deposits and prudent management of interest rate and liquidity risks remain key priorities. Investors should note the significant impact of FDIC-assisted transactions on the financial statements, particularly the acquisition gains and discount accretion, which can cause volatility in earnings and net interest income.

First Citizens BancShares, Inc. (FCNCA) reported its financial results for the quarterly period ended September 30, 2010. The company experienced significant balance sheet growth primarily driven by FDIC-assisted acquisitions, notably the takeovers of First Regional Bank and Sun American Bank. These acquisitions contributed substantially to net income through bargain purchase gains, alongside an increase in net interest income due to balance sheet expansion and discount accretion on acquired loans. Despite overall profit growth year-over-year for the nine-month period, the third quarter showed a year-over-year decrease in net income, largely due to the absence of significant acquisition gains recorded in the prior year's comparable period. Asset quality, while showing some improvement in net charge-offs for non-covered loans, presented challenges with an increase in nonperforming assets, particularly those covered by FDIC loss share agreements, stemming from the recent acquisitions. The company's capital position remained strong, exceeding regulatory requirements. Management highlighted a focus on managing credit risk, interest rate risk, and liquidity, with plans for a merger between its two banking subsidiaries, FCB and ISB, expected in early 2011 to streamline operations and enhance commercial lending capabilities.

First Citizens BancShares, Inc. (FCNCA) reported a substantial increase in net income for the six months ended June 30, 2010, primarily driven by significant gains from FDIC-assisted acquisitions. Net income for the period reached $133.2 million, a significant jump from $14.9 million in the prior year's comparable period. This performance was largely fueled by acquisition gains totaling $132.6 million, offsetting continued pressure on core earnings from the prevailing recessionary economic conditions. The company's balance sheet expanded considerably, with total assets growing to $21.1 billion. This growth was a direct result of the successful integration of acquired entities, notably First Regional Bank and Sun American Bank, which contributed significantly to loan and deposit balances. While the company benefited from these strategic acquisitions, it also faced increased provisions for loan and lease losses, reflecting the post-acquisition deterioration of some acquired loan portfolios.