8-KEarnings & ResultsRegulation FDExhibits & Filings

FIRST CITIZENS BANCSHARES INC /DE/ 8-K Report, Financial Results (May 10, 2023)

Filed May 10, 2023For Securities:FCNCAFCNCPFCNCBFCNCOFCNCN

Summary

First Citizens BancShares, Inc. (FCNCA) filed an 8-K on May 10, 2023, to report its financial results for the quarter ended March 31, 2023. The filing primarily serves to incorporate by reference the press release (Exhibit 99.1) and investor presentation slides (Exhibit 99.2) that were discussed during their conference call on the same day. These documents would contain the detailed financial performance and operational highlights for the quarter. Investors should refer to Exhibit 99.1 and 99.2 for specific figures regarding earnings, revenue, asset quality, and strategic updates. While the 8-K itself does not provide quantitative results, it highlights the company's intent to communicate its quarterly performance. The filing also includes cautionary language regarding forward-looking statements, emphasizing the inherent risks and uncertainties that could affect future results. These risks include broader economic conditions, competitive pressures, interest rate fluctuations, regulatory actions, and integration challenges from recent acquisitions, notably the transaction with CIT. Investors should consider these forward-looking disclosures carefully when assessing the company's future prospects.

Key Highlights

  • 1FCNCA filed an 8-K on May 10, 2023, to announce Q1 2023 financial results.
  • 2The primary purpose of the filing is to incorporate by reference the company's earnings press release (Exhibit 99.1).
  • 3An investor presentation (Exhibit 99.2) was also provided for discussion during the Q1 earnings call.
  • 4Detailed financial performance metrics for the quarter ended March 31, 2023, are contained within the referenced exhibits.
  • 5The filing includes standard forward-looking statement disclaimers, outlining potential risks and uncertainties.
  • 6Key risk factors mentioned include economic conditions, interest rate volatility, regulatory scrutiny, and acquisition integration challenges.
  • 7The company is undertaking a conference call to discuss these Q1 2023 results.

Frequently Asked Questions

The 8-K filing itself does not contain the specific financial results. The detailed financial performance for the quarter ended March 31, 2023, is provided in the press release (Exhibit 99.1) and the investor presentation (Exhibit 99.2) which are incorporated by reference into the filing. Investors should review these exhibits for specific earnings, revenue, and other financial metrics.

Exhibit 99.1 is the press release announcing First Citizens BancShares' financial results for the first quarter of 2023. Exhibit 99.2 contains the slides used in the investor presentation during the conference call discussing these results. These exhibits are crucial for understanding the company's performance and outlook for the period.

The filing highlights several forward-looking risks, including general economic and market conditions, competitive pressures, interest rate fluctuations, regulatory actions (especially concerning recent bank failures and Fed rate hikes), and challenges related to integrating recent acquisitions, particularly the transaction with CIT. These factors could materially impact the company's future financial results.

This 8-K filing primarily reports on past performance for the quarter ended March 31, 2023, and incorporates the associated press release and presentation. While these documents may contain forward-looking statements and discussions about future outlook, this specific 8-K filing does not explicitly issue new, quantitative guidance for the remainder of 2023. Investors should look to the content of Exhibits 99.1 and 99.2 for any such forward-looking statements or indications.