10-QPeriod: Q2 FY2025

FIRST CITIZENS BANCSHARES INC /DE/ Quarterly Report for Q2 Ended Jun 30, 2025

Filed August 8, 2025For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

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.

Financial Highlights

35 data points
Beta

Revenue

$2.37B

Net Income

$575.00M

24.2% Net Margin

EPS (Diluted)

$42.36

Total Assets

$229.65B

Cash & Equivalents

$889.00M

Free Cash Flow

$733.00M

Financial Statements
Beta
Revenue$2.37B
Net Income$575.00M
EPS (Basic)$42.36
EPS (Diluted)$42.36
Shares Outstanding (Basic)13.24M
Shares Outstanding (Diluted)13.24M

Key Highlights

  • 1Net income available to common stockholders increased by 20% quarter-over-quarter to $561 million.
  • 2Net interest income rose by 2% to $1.70 billion, driven by higher loan balances and improved deposit yields.
  • 3Total deposits grew by 3% to $159.94 billion, demonstrating strong customer confidence.
  • 4Capital ratios remained robust, with Common Equity Tier 1 at 12.12%, significantly exceeding regulatory thresholds.
  • 5The provision for credit losses decreased by 26% from the prior quarter to $115 million.
  • 6The company announced a new $4.0 billion share repurchase program, signaling confidence in future performance and commitment to shareholder returns.
  • 7Liquidity remains strong, with total liquid assets and contingent sources of $92.13 billion covering uninsured deposits by 159%.

Frequently Asked Questions

First Citizens BancShares demonstrated strong financial performance in Q2 2025. Net income available to common stockholders increased by 20% to $561 million, driven by higher net interest income and non-interest income, along with a lower provision for credit losses. The company's balance sheet grew, with total assets reaching $229.65 billion and total deposits increasing by 3% to $159.94 billion.

Total loans and leases increased slightly by 1% to $141.27 billion. While the overall loan portfolio saw modest growth, the Commercial Bank segment experienced the most significant increase, primarily in technology, media, and telecommunications, and healthcare sectors. The allowance for loan and lease losses remained stable at 1.18% of total loans, reflecting stable credit quality.

First Citizens BancShares maintains a strong capital position, well above regulatory requirements, with a Common Equity Tier 1 ratio of 12.12%. Liquidity is also robust, with $63.62 billion in high-quality liquid assets and $28.51 billion in contingent liquidity sources, providing ample coverage for uninsured deposits.

Profitability was driven by a combination of factors. Net interest income increased due to higher average loan balances and improved yields on interest-earning deposits. Non-interest income also saw a significant increase, primarily from higher other noninterest income, fair value changes in customer derivative positions, and other non-marketable investments. The decrease in the provision for credit losses also contributed positively to the bottom line.