First Citizens BancShares

First Citizens BancShares, Inc. is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks. The Commercial Banking provides lending, leasing and other financial and advisory services to small and middle market companies. The Rail segment deals with the provision of equipment leasing and secured financing for railroads and shippers. The Corporate segment is comprised of investment securities and interest bearing cash. The company was founded on August 7, 1986 and is headquartered in Raleigh, NC.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

First Citizens BancShares reports strong 2022 performance and outlines 2023 priorities

First Citizens BancShares showcased strong financial performance in 2022 with notable achievements in loan growth and expense control.
The company's strategic focus for 2023 includes core business investments, talent acquisition, and effective risk management.
While facing challenges like seasonal loan declines and non-performing loans, opportunities lie in stable margins and deposit growth strategies.
Overall, the company aims for continued growth and efficiency while navigating market dynamics and maintaining strong credit quality.

First Citizens BancShares reports strong Q1 performance post SVB acquisition

First Citizens BancShares showcased robust financial performance driven by the SVB acquisition and strategic initiatives.
Challenges include evolving market dynamics and managing expenses and criticized loans in certain portfolios.
Opportunities lie in leveraging the SVB acquisition for growth, optimizing cost structures, and adapting to regulatory changes.
Overall, the company is well-positioned to navigate challenges and capitalize on growth prospects in the financial landscape.

First Citizens BancShares excels in Q2 with SVB acquisition

First Citizens BancShares (FCNCA) demonstrated robust financial performance and strategic progress in the second quarter, driven by the SVB acquisition.
While facing challenges such as declining accretable yield and noninterest revenue, the company remains focused on capital management and long-term value creation.
Opportunities lie in potential share buybacks, optimizing deposit mix, and enhancing risk management practices to drive future growth and profitability.

First Citizens BancShares reports robust Q3 earnings amidst strategic acquisitions

First Citizens BancShares (FCNCA) delivered strong financial performance in Q3 2023, driven by earnings growth, deposit expansion, and strategic acquisitions.
While facing challenges such as elevated charge-offs and market-related declines, the company remains focused on regulatory readiness and innovation-driven growth opportunities.
With a prudent risk management approach, strategic acquisitions, and a focus on optimizing the credit portfolio, First Citizens BancShares is poised for continued growth and resilience in the evolving financial landscape.

First Citizens BancShares reports strong 2023 performance and outlines 2024 priorities

First Citizens BancShares had a successful 2023 with strong financial results and a focus on strategic priorities for 2024. The company maintains a strong capital position and is progressing on SVB integration.
Challenges include market shifts in office innovation and equipment finance, as well as potential headwinds from debt issuance costs. Opportunities exist in managing asset sensitivity, tightening underwriting, and driving growth in innovative portfolios.
Overall, the outlook for 2024 includes expectations for growth in loans and deposits, expense management, and maintaining credit quality. The company's proactive approach to capital management and focus on client service position it for continued success.

First Citizens BancShares reports robust Q1 earnings and growth outlook

First Citizens BancShares (FCNCA) delivered strong Q1 results, focusing on stability, compliance, and growth opportunities. Despite challenges in VC fundraising and market conditions, the company remains optimistic about its performance and strategic initiatives.

First Citizens BancShares reports robust Q3 earnings amidst growth opportunities

First Citizens BancShares demonstrated solid financial performance with a focus on maintaining strong capital and liquidity positions.
While facing challenges such as loan reductions and slight capital ratio decreases, the company remains optimistic about future growth opportunities.
Analysts' inquiries and management discussions highlighted a proactive approach to addressing challenges and leveraging opportunities for sustained success.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

LOS ANGELES , Sept. 13, 2023 /PRNewswire/ -- First Citizens Wealth today launched a new wealth advisory business with a team of advisors across Southern California to better serve individuals, families, and institutions in growing, managing, and preserving their wealth.

First Citizens Wealth Launches New Wealth Advisory Team to Serve Individuals and Institutions in Southern California

'Yes, SVB' campaign highlights company's continued service, dedication, tailored solutions and commitment to the innovation economy SAN FRANCISCO , Sept. 12, 2023 /PRNewswire/ -- Fully committed to supporting its clients and the innovation economy,   Silicon Valley Bank , a division of First Citizens Bank, today launched a new nationwide advertising campaign.

Silicon Valley Bank Launches New Marketing Campaign

79% of small business owners surveyed anticipate growth RALEIGH, N.C., Sept. 11, 2023 /PRNewswire/ -- Nearly eight out of 10 small business owners feel a strong degree of confidence that their companies will grow over the next year even amid rocky market conditions, according to a new survey.

First Citizens Bank's Annual Forecast Finds Small Businesses Confident, Undeterred By Economic Outlook

Citizens Financial Group

SPDR S&P Bank ETF

SPDR S&P Regional Banking ETF

M&T Bank

PNC Financial Services

Truist Financial

Financial Select Sector SPDR Fund

Eighteen regional banks may add about $63 billion of holding company debt to meet proposed regulatory guidelines for lending institutions of $100 billion to $250 billion of assets, in the latest challenge to the sector, according to a Bloomberg report.

Regional banks may saddle themselves with $63B in fresh debt to meet regulatory requirements: report

NEW YORK , Sept. 7, 2023 /PRNewswire/ -- First Citizens Bank today announced that CIT Northbridge Credit, as advised by First Citizens Institutional Asset Management, LLC, provided a $55 million revolving credit facility to National CineMedia LLC to support their emergence from Chapter 11 bankruptcy.

CIT Northbridge Provides $55 Million in Exit Financing to National CineMedia LLC

Michael Wilson to lead both First Citizens Wealth and SVB Private Leadership team reflects strengths and talents from across the organization RALEIGH, N.C. , Sept. 6, 2023 /PRNewswire/ -- First Citizens Bank today announced a new leadership structure for its wealth organization that will improve coordination and enhance its commitment to supporting individuals, families and institutions with outstanding financial solutions and guidance.

First Citizens Bank Announces Leadership Structure for Wealth Organization

Cheniere Energy

Brunswick

Delta Air Lines

Everest Group Ltd

Graphic Packaging Hld

Jazz Pharmaceuticals

New Fortress Energy

Nexstar Media Group

Vistra Energy

Some investors place themselves in either the growth camp — focusing on the most rapidly growing companies, no matter how high their stock prices may be — or the value camp, going with slow growers that are trading on the cheap. Today we're screening a group of hundreds of growth stocks to highlight 10 trading at forward price-to-earnings valuations that are less than half that of the S&P 500.

10 growth stocks that are trading at bargain prices, including Delta and Cheniere Energy

NEW YORK , Aug. 29, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Capital Equipment Finance group, part of the CIT division, served as lead arranger on $200 million in financing for New Fortress Energy Inc. Headquartered in New York, New Fortress Energy is a global energy infrastructure company founded to help address energy poverty and accelerate the world's transition to reliable, affordable and clean energy. The loan supports New Fortress Energy's grid stabilization project in Puerto Rico.

First Citizens Bank Serves as Lead Arranger on $200 Million Financing for New Fortress Energy

CONSOL Energy

QUALCOMM

Compounding your wealth in the markets can be boiled down to buying stocks at a discount to market value. Then, your holdings appreciate as the price converges to the intrinsic value over time.

These Are the ONLY 3 Value Stocks to Consider in August 2023

RALEIGH, N.C. , Aug. 23, 2023 /PRNewswire/ -- First Citizens Bank today announced that it served as syndication agent, joint lead arranger and joint bookrunner on a $400 million senior credit facility for Alex Lee Inc. The five-year revolving credit facility refinanced existing debt and increased the facility size to support the company's continued business growth.

First Citizens Bank Serves as Syndication Agent, Joint Lead Arranger and Joint Bookrunner on $400 Million Financing for Alex Lee Inc.

New leadership continues SVB's commitment to best-in-class product solutions SANTA CLARA, Calif. , Aug. 22, 2023 /PRNewswire/ --  Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced Martin Murrell has been named Head of Global Payments and Milton Santiago was named Head of Global Digital Solutions.

Silicon Valley Bank Appoints Head of Global Payments and Head of Global Digital Solutions

LOS ANGELES , Aug. 21, 2023 /PRNewswire/ -- First Citizens Bank today announced that its CIT Commercial Services subsidiary has completed a $6.5 million credit facility with a California-based home furnishings and apparel importer. Under the agreement, CIT Commercial Services will also take the lead in managing a significant share of the company's accounts receivable from a variety of retailers, enabling the client to better manage its cash flow and protect its assets and operations.

First Citizens Bank Completes $6.5 Million Credit Facility

NEW YORK , Aug. 15, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business, part of the CIT division, provided a loan to refinance American House St Petersburg, a senior living community located in St. Petersburg, Florida. The financing was provided to a joint venture between American House, Harrison Street, and Prevarian Senior Living, who opened this community in 2021.

First Citizens Bank Provides Loan to Refinance Florida Senior Living Community

First Citizens BancShares (FCNCA) came out with quarterly earnings of $52.60 per share, beating the Zacks Consensus Estimate of $45.91 per share. This compares to earnings of $16.86 per share a year ago.

First Citizens BancShares (FCNCA) Surpasses Q2 Earnings and Revenue Estimates

SVB Financial Group

First Citizens BancShares Inc. stock was up 2.4% on Thursday after the Raleigh, N.C.-based lender's profit nearly tripled, beating Wall Street expectations, with a boost from its high-profile acquisition of Silicon Valley Bank.

First Citizens BancShares Q2 profit boosted by addition of Silicon Valley Bank

RALEIGH, N.C. , Aug. 3, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the second quarter ended June 30, 2023.

First Citizens BancShares Reports Second Quarter 2023 Earnings

RALEIGH, N.C. , Aug. 1, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business has arranged $58 million in financing for Tanger Houston, an open-air outlet center located in Texas City, serving an attractive Texas metropolitan area.

First Citizens Bank Arranges $58 Million Financing for Tanger Houston

NEW YORK , July 31, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business, part of the CIT division, provided a $50.3 million loan to a joint venture led by Rethink Healthcare Real Estate to refinance the Medical Pavilion at White Oak, an on campus medical office building located adjacent to the Adventist White Oak Medical Center in Silver Spring, Maryland. Opened in 2019, the Medical Center is located approximately seven miles northeast from Washington D.C.

First Citizens Bank Provides $50.3 Million to Refinance the Medical Pavilion at White Oak on the campus of Adventist White Oak Medical Center

Company releases Mid-Year Healthcare Investments and Exits Report SAN FRANCISCO , July 27, 2023 /PRNewswire/ -- Silicon Valley Bank , a division of First Citizens Bank, today announced that 16-year SVB veteran Jackie Spencer has been named the new Head of Relationship Management for Life Science and Healthcare Banking.  The company also announced that 26-year SVB veteran Megan Scheffel was named Head of Credit Solutions for the Life Science and Healthcare practice.

Silicon Valley Bank Appoints New Leadership to Support Life Science and Healthcare Sector

NEW YORK , July 26, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, provided $20.5 million toward the acquisition of the Forsyth Physicians Center. The borrower is a joint venture led by Anchor Health Properties.

First Citizens Bank Provides $20.5 Million Acquisition Loan for Forsyth Physicians Center in Greater Atlanta

NEW YORK , July 25, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as sole lead arranger on $211 million in financing for the 200-megawatt Oak Solar power plant in Gaston, North Carolina. SunEnergy1 LLC, based in Mooresville, North Carolina, plans to build the solar power facility in two phases, with 100% of the power being sold to the McDonald's Corporation under 17-year power purchase agreement.

First Citizens Bank Serves as Lead Arranger on $211 Million Financing for North Carolina Solar Power Development

New financing underscores demand for the company's leading payments and cash-flow management suite SAN FRANCISCO , July 25, 2023 /PRNewswire/ -- Settle, the leading cash-flow management platform, announced today it has secured up to $145 million credit facility with Silicon Valley Bank, a division of First Citizens Bank, increasing their capacity to support high-growth e-commerce and consumer brands and small businesses. Settle is a cash-flow management platform purpose-built for e-commerce and consumer brands with demanding inventory and cash conversion cycles.

Settle Raises $145M Credit Facility with Silicon Valley Bank

NEW YORK , July 24, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Hemp Business provided a $1 million working capital line of credit to RYJO, parent entity of The Georgia Hemp Company, to help finance a major new promotional initiative. The Georgia Hemp Company currently operates four storefronts in the state of Georgia with locations in Atlanta-Sandy Springs, Woodstock, Decatur, and Duluth.

First Citizens Bank Provides a $1 Million Line of Credit to The Georgia Hemp Company

NEW YORK , July 17, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Real Estate Finance group, part of the CIT division, provided $40 million in construction financing to a joint venture between Grandview Partners and Crosland Southeast for the development of Evelyn City Lofts apartments located in Tampa, Florida. The to-be-built multi-family apartment complex, located in the emerging Seminole Heights neighborhood, will consist of 245 residential units, including 25 affordable housing units, and a five-story covered parking garage.

First Citizens Provides $40 Million in Financing for Florida Apartment Complex Development

NEW YORK , July 17, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance group, part of the CIT division, served as the Coordinating Lead Arranger on a $70.4 million construction and term loan financing facility for two standalone battery energy storage projects in Texas, totaling 160 megawatts (MW) / 320 megawatt-hours (MWh). BankUnited, N.A.

News for First Citizens BancShares Stock (FCNCA)