Latest news with #FirstCitizensBancShares
Malaysian Reserve
25-07-2025
- Business
- Malaysian Reserve
First Citizens BancShares Reports Second Quarter 2025 Earnings, Announces Additional Share Repurchase Plan
RALEIGH, N.C., July 25, 2025 /PRNewswire/ — First Citizens BancShares, Inc. ('BancShares') (Nasdaq: FCNCA) reported earnings for the second quarter of 2025. Chairman and CEO Frank B. Holding, Jr. said: 'Our team delivered solid financial results in the second quarter through revenue growth and positive credit performance across our diverse portfolio. Capital and liquidity positions remained strong, enabling us to return an additional $613 million of capital to our stockholders through share repurchases during the quarter. Also, we are pleased to announce that our Board of Directors approved an additional share repurchase plan for the repurchase of up to $4.0 billion of our Class A common shares which will commence upon completion of the $3.5 billion share repurchase plan announced in July 2024. This reflects our commitments to long-term value creation and delivering returns to our stockholders. Lastly, I am pleased that we have strengthened our leadership and governance with the appointment of Diane Morais to our Board of Directors.' FINANCIAL HIGHLIGHTS Measures referenced below 'as adjusted' or 'excluding PAA' (or purchase accounting accretion) are non-GAAP financial measures. Refer to the Financial Supplement available at or for a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure. Net income for the second quarter of 2025 ('current quarter') was $575 million compared to $483 million for the first quarter of 2025 ('linked quarter'). Net income available to common stockholders for the current quarter was $561 million, or $42.36 per common share, a $93 million increase from $468 million, or $34.47 per common share, in the linked quarter. Adjusted net income for the current quarter was $607 million compared to $528 million for the linked quarter. Consistent with the prior quarter, acquisition-related expenses were the most significant difference between reported and adjusted net income. Adjusted net income available to common stockholders was $593 million, or $44.78 per common share, an $80 million increase from $513 million, or $37.79 per common share, in the linked quarter. NET INTEREST INCOME AND MARGIN Net interest income totaled $1.70 billion for the current quarter, an increase of $32 million from the linked quarter. Net interest income related to PAA was $66 million compared to $75 million in the linked quarter, a decrease of $9 million. Net interest income, excluding PAA, was $1.63 billion compared to $1.59 billion in the linked quarter, an increase of $41 million, primarily due to the following: Interest income on loans increased $34 million. Interest income on loans, excluding loan PAA, increased $43 million, mainly due to the impacts of a higher average balance and a higher day count. Interest income on loans increased $34 million. Interest income on loans, excluding loan PAA, increased $43 million, mainly due to the impacts of a higher average balance and a higher day count. Interest income on interest-earning deposits at banks increased $11 million, primarily due to a higher average balance and a higher day count. Interest income on interest-earning deposits at banks increased $11 million, primarily due to a higher average balance and a higher day count. Interest income on investment securities increased $5 million due to a higher average balance and a higher day count. Interest income on investment securities increased $5 million due to a higher average balance and a higher day count. Interest expense on borrowings increased $17 million due to a higher average balance and rate paid as the issuances during the linked quarter of senior unsecured notes and subordinated notes were outstanding for the entire current quarter. Interest expense on borrowings increased $17 million due to a higher average balance and rate paid as the issuances during the linked quarter of senior unsecured notes and subordinated notes were outstanding for the entire current quarter. Interest expense on interest-bearing deposits increased $1 million as the impacts of a higher average balance and a higher day count were partially offset by a lower rate paid. Interest expense on interest-bearing deposits increased $1 million as the impacts of a higher average balance and a higher day count were partially offset by a lower rate paid. Net interest margin ('NIM') was 3.26% in both the current and linked quarters as the favorable impact of a lower rate paid on interest-bearing deposits was offset by the unfavorable impacts of a higher average balance of interest-bearing deposits and borrowings, a higher rate paid on borrowings, and lower PAA. NIM, excluding PAA, was 3.14% compared to 3.12% in the linked quarter. The yield on average interest-earning assets was 5.67%, a decrease of 1 basis point from the linked quarter, mainly due to lower loan PAA. The yield on average interest-earning assets was 5.67%, a decrease of 1 basis point from the linked quarter, mainly due to lower loan PAA. The rate paid on average interest-bearing liabilities was 3.19%, a decrease of 3 basis points from the linked quarter, primarily due to a lower rate paid on interest-bearing deposits, partially offset by the impacts of a higher average balance of interest-bearing deposits, and a higher average balance and rate paid on borrowings. The rate paid on average interest-bearing liabilities was 3.19%, a decrease of 3 basis points from the linked quarter, primarily due to a lower rate paid on interest-bearing deposits, partially offset by the impacts of a higher average balance of interest-bearing deposits, and a higher average balance and rate paid on borrowings. NONINTEREST INCOME AND EXPENSE Noninterest income was $678 million compared to $635 million in the linked quarter, an increase of $43 million. Adjusted noninterest income was $513 million compared to $479 million in the linked quarter, an increase of $34 million. The increases in noninterest income and adjusted noninterest income were primarily the result of an increase in other noninterest income of $28 million, mainly attributable to the positive impacts from fair value changes in customer derivative positions and other non-marketable investments, as well as the linked quarter write-down of a held for sale asset. Noninterest expense was $1.50 billion compared to $1.49 billion in the linked quarter, an increase of $7 million. Adjusted noninterest expense was $1.28 billion, an increase of $2 million compared to the linked quarter. BALANCE SHEET SUMMARY Loans and leases totaled $141.27 billion at June 30, 2025, a decrease of $89 million (0.3% annualized) compared to $141.36 billion at March 31, 2025. Loan growth in the General Bank and Commercial Bank segments was more than offset by a decline in loans in the SVB Commercial segment. SVB Commercial segment loans declined $289 million (3.1% annualized), mostly related to Tech and Healthcare Banking, partially offset by growth in Global Fund Banking. SVB Commercial segment loans declined $289 million (3.1% annualized), mostly related to Tech and Healthcare Banking, partially offset by growth in Global Fund Banking. General Bank segment growth of $140 million (0.9% annualized) was largely related to an increase in Wealth, partially offset by a decline in business and commercial loans in the Branch Network. General Bank segment growth of $140 million (0.9% annualized) was largely related to an increase in Wealth, partially offset by a decline in business and commercial loans in the Branch Network. Commercial Bank segment growth of $60 million (0.6% annualized) was mainly related to loans in our Real Estate Finance and Equipment Finance portfolios. Commercial Bank segment growth of $60 million (0.6% annualized) was mainly related to loans in our Real Estate Finance and Equipment Finance portfolios. Total investment securities were $43.35 billion at June 30, 2025, a decrease of $973 million since March 31, 2025 as maturities and paydowns more than offset purchases of approximately $1.06 billion short duration available for sale U.S. agency mortgage-backed securities. Deposits totaled $159.94 billion at June 30, 2025, an increase of $610 million since March 31, 2025 (1.5% annualized growth). Deposit growth was mainly attributable to the following: SVB Commercial segment growth of $778 million. SVB Commercial segment growth of $778 million. Corporate growth of $746 million, mostly concentrated in the Direct Bank. Corporate growth of $746 million, mostly concentrated in the Direct Bank. General Bank segment decline of $810 million, mostly related to declines in the Branch Network and Wealth due to seasonal tax outflows, and lower net growth. General Bank segment decline of $810 million, mostly related to declines in the Branch Network and Wealth due to seasonal tax outflows, and lower net growth. Commercial Bank segment deposits decreased $95 million. Commercial Bank segment deposits decreased $95 million. Noninterest-bearing deposits represented 25.6% of total deposits as of June 30, 2025 and March 31, 2025. The cost of average total deposits was 2.27% for the current quarter, compared to 2.32% for the linked quarter. Funding mix remained stable with 80.8% of total funding composed of deposits. PROVISION FOR CREDIT LOSSES AND CREDIT QUALITY Provision for credit losses totaled $115 million for the current quarter compared to $154 million for the linked quarter. The current quarter provision for credit losses included a provision for loan and lease losses of $111 million and a provision for off-balance sheet credit exposure of $4 million. The provision for loan and lease losses for the current quarter was $111 million compared to $148 million for the linked quarter. The $37 million decrease in the provision for loan and lease losses was mainly attributable to a decrease in net charge-offs of $25 million, along with the impact of an $8 million reserve release in the current quarter compared to a $4 million reserve build in the linked quarter. The provision for loan and lease losses for the current quarter was $111 million compared to $148 million for the linked quarter. The $37 million decrease in the provision for loan and lease losses was mainly attributable to a decrease in net charge-offs of $25 million, along with the impact of an $8 million reserve release in the current quarter compared to a $4 million reserve build in the linked quarter. The provision for off-balance sheet credit exposure for the current quarter was $4 million compared to $6 million for the linked quarter, a decrease of $2 million. The provision for off-balance sheet credit exposure for the current quarter was $4 million compared to $6 million for the linked quarter, a decrease of $2 million. Net charge-offs were $119 million for the current quarter, representing 0.33% of average loans, compared to $144 million, or 0.41% of average loans, for the linked quarter. The $25 million decrease was primarily related to lower net charge-offs in the SVB Commercial segment and the Commercial Bank segment. Nonaccrual loans were $1.32 billion, or 0.93% of loans, at June 30, 2025, compared to $1.21 billion, or 0.85% of loans, at March 31, 2025. The increase was mainly due to one individually evaluated nonaccrual credit in the SVB Commercial segment. The allowance for loan and lease losses totaled $1.67 billion, a decrease of $8 million from the linked quarter, as decreases related to Hurricane Helene, other credit quality improvements, and a modest shift in our weighting from the downside to baseline economic scenario were partially offset by higher specific reserves for individually evaluated loans. The allowance for loan and lease losses as a percentage of loans was 1.18% at June 30, 2025, compared to 1.19% at March 31, 2025. CAPITAL AND LIQUIDITY Capital ratios are well above regulatory requirements. The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 14.25%, 12.63%, 12.12%, and 9.64%, respectively, at June 30, 2025. During the current quarter, we repurchased 338,959 shares of our Class A common stock for $613 million and paid a dividend of $1.95 per share on our Class A and Class B common stock. Shares repurchased during the current quarter represented 2.73% of Class A common shares and 2.53% of total Class A and Class B common shares outstanding at March 31, 2025. From inception of the Share Repurchase Program announced in July 2024 ('2024 SRP') through June 30, 2025, we have repurchased 1,456,283 shares of our Class A common stock for $2.89 billion, representing 10.77% of Class A common shares and 10.02% of total Class A and Class B common shares outstanding as of June 30, 2024. The total capacity remaining under the 2024 SRP was $611 million as of June 30, 2025. Additionally, the entire $4 billion capacity remains under the Share Repurchase Program announced on July 25, 2025 ('2025 SRP'). Liquidity position remains strong as liquid assets were $63.62 billion at June 30, 2025, compared to $62.79 billion at March 31, 2025. EARNINGS CALL/ WEBCAST DETAILS BancShares will host a conference call to discuss the company's financial results on Friday, July 25, 2025, at 9 a.m. Eastern time. The call may be accessed via webcast on the company's website at or through the dial-in details below: North America: 1-833-470-1428All other locations: 1-929-526-1599Access code: 819036 Our earnings release, investor presentation, and financial supplement are available at In addition, these materials will be furnished to the Securities and Exchange Commission (the 'SEC') on a Form 8-K and will be available on the SEC website at After the event, a replay of the call will be available via webcast at ABOUT FIRST CITIZENS BANCSHARES First Citizens BancShares, Inc. (Nasdaq: FCNCA), a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500TM, is the financial holding company for First-Citizens Bank & Trust Company ('First Citizens Bank'). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; personalized service and resources to help grow and manage wealth; and a nationwide direct bank. Discover more at FORWARD-LOOKING STATEMENTS This communication contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as 'anticipates,' 'believes,' 'estimates,' 'expects,' 'predicts,' 'forecasts,' 'intends,' 'plans,' 'projects,' 'targets,' 'designed,' 'could,' 'may,' 'should,' 'will,' 'potential,' 'continue,' 'aims' or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares' current expectations and assumptions regarding BancShares' business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares' future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs or trade barriers on trading partners), political (including the makeup of the U.S. Congress and Trump administration), geopolitical events (including conflicts in Ukraine and the Middle East), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares' vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares' loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the 'Federal Reserve'), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares' ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares' capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the impact of implementation and compliance with current or proposed laws (including the 2025 U.S. budget reconciliation legislation), regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums and the proposed interagency rule on regulatory capital, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, and the risks associated with BancShares' previous acquisition transactions, including the acquisition of certain assets and liabilities of Silicon Valley Bridge Bank, N.A. and the previously completed merger with CIT Group Inc., or any future transactions. BancShares' 2024 SRP allows BancShares to repurchase shares of its Class A common stock through 2025. After completion of maximum repurchases under the 2024 SRP, BancShares' 2025 SRP allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2024 SRP or the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorizations to repurchase Class A common stock will be utilized at management's discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2024 SRP or the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares' Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and its other filings with the SEC. NON-GAAP MEASURES Certain measures in this release, including those referenced as 'adjusted' or 'excluding PAA,' are 'non-GAAP,' meaning they are numerical measures of BancShares' financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. ('GAAP') because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares' statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation. This information can be found in the Financial Supplement located in the Quarterly Results section of our website at Contact: Deanna Hart Angela English Investor Relations Corporate Communications 919-716-2137 803-931-1854
Yahoo
25-07-2025
- Business
- Yahoo
First Citizens BancShares Reports Second Quarter 2025 Earnings, Announces Additional Share Repurchase Plan
RALEIGH, N.C., July 25, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the second quarter of 2025. Chairman and CEO Frank B. Holding, Jr. said: "Our team delivered solid financial results in the second quarter through revenue growth and positive credit performance across our diverse portfolio. Capital and liquidity positions remained strong, enabling us to return an additional $613 million of capital to our stockholders through share repurchases during the quarter. Also, we are pleased to announce that our Board of Directors approved an additional share repurchase plan for the repurchase of up to $4.0 billion of our Class A common shares which will commence upon completion of the $3.5 billion share repurchase plan announced in July 2024. This reflects our commitments to long-term value creation and delivering returns to our stockholders. Lastly, I am pleased that we have strengthened our leadership and governance with the appointment of Diane Morais to our Board of Directors." FINANCIAL HIGHLIGHTS Measures referenced below "as adjusted" or "excluding PAA" (or purchase accounting accretion) are non-GAAP financial measures. Refer to the Financial Supplement available at or for a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure. Net income for the second quarter of 2025 ("current quarter") was $575 million compared to $483 million for the first quarter of 2025 ("linked quarter"). Net income available to common stockholders for the current quarter was $561 million, or $42.36 per common share, a $93 million increase from $468 million, or $34.47 per common share, in the linked quarter. Adjusted net income for the current quarter was $607 million compared to $528 million for the linked quarter. Consistent with the prior quarter, acquisition-related expenses were the most significant difference between reported and adjusted net income. Adjusted net income available to common stockholders was $593 million, or $44.78 per common share, an $80 million increase from $513 million, or $37.79 per common share, in the linked quarter. NET INTEREST INCOME AND MARGIN Net interest income totaled $1.70 billion for the current quarter, an increase of $32 million from the linked quarter. Net interest income related to PAA was $66 million compared to $75 million in the linked quarter, a decrease of $9 million. Net interest income, excluding PAA, was $1.63 billion compared to $1.59 billion in the linked quarter, an increase of $41 million, primarily due to the following: Interest income on loans increased $34 million. Interest income on loans, excluding loan PAA, increased $43 million, mainly due to the impacts of a higher average balance and a higher day count. Interest income on interest-earning deposits at banks increased $11 million, primarily due to a higher average balance and a higher day count. Interest income on investment securities increased $5 million due to a higher average balance and a higher day count. Interest expense on borrowings increased $17 million due to a higher average balance and rate paid as the issuances during the linked quarter of senior unsecured notes and subordinated notes were outstanding for the entire current quarter. Interest expense on interest-bearing deposits increased $1 million as the impacts of a higher average balance and a higher day count were partially offset by a lower rate paid. Net interest margin ("NIM") was 3.26% in both the current and linked quarters as the favorable impact of a lower rate paid on interest-bearing deposits was offset by the unfavorable impacts of a higher average balance of interest-bearing deposits and borrowings, a higher rate paid on borrowings, and lower PAA. NIM, excluding PAA, was 3.14% compared to 3.12% in the linked quarter. The yield on average interest-earning assets was 5.67%, a decrease of 1 basis point from the linked quarter, mainly due to lower loan PAA. The rate paid on average interest-bearing liabilities was 3.19%, a decrease of 3 basis points from the linked quarter, primarily due to a lower rate paid on interest-bearing deposits, partially offset by the impacts of a higher average balance of interest-bearing deposits, and a higher average balance and rate paid on borrowings. NONINTEREST INCOME AND EXPENSE Noninterest income was $678 million compared to $635 million in the linked quarter, an increase of $43 million. Adjusted noninterest income was $513 million compared to $479 million in the linked quarter, an increase of $34 million. The increases in noninterest income and adjusted noninterest income were primarily the result of an increase in other noninterest income of $28 million, mainly attributable to the positive impacts from fair value changes in customer derivative positions and other non-marketable investments, as well as the linked quarter write-down of a held for sale asset. Noninterest expense was $1.50 billion compared to $1.49 billion in the linked quarter, an increase of $7 million. Adjusted noninterest expense was $1.28 billion, an increase of $2 million compared to the linked quarter. BALANCE SHEET SUMMARY Loans and leases totaled $141.27 billion at June 30, 2025, a decrease of $89 million (0.3% annualized) compared to $141.36 billion at March 31, 2025. Loan growth in the General Bank and Commercial Bank segments was more than offset by a decline in loans in the SVB Commercial segment. SVB Commercial segment loans declined $289 million (3.1% annualized), mostly related to Tech and Healthcare Banking, partially offset by growth in Global Fund Banking. General Bank segment growth of $140 million (0.9% annualized) was largely related to an increase in Wealth, partially offset by a decline in business and commercial loans in the Branch Network. Commercial Bank segment growth of $60 million (0.6% annualized) was mainly related to loans in our Real Estate Finance and Equipment Finance portfolios. Total investment securities were $43.35 billion at June 30, 2025, a decrease of $973 million since March 31, 2025 as maturities and paydowns more than offset purchases of approximately $1.06 billion short duration available for sale U.S. agency mortgage-backed securities. Deposits totaled $159.94 billion at June 30, 2025, an increase of $610 million since March 31, 2025 (1.5% annualized growth). Deposit growth was mainly attributable to the following: SVB Commercial segment growth of $778 million. Corporate growth of $746 million, mostly concentrated in the Direct Bank. General Bank segment decline of $810 million, mostly related to declines in the Branch Network and Wealth due to seasonal tax outflows, and lower net growth. Commercial Bank segment deposits decreased $95 million. Noninterest-bearing deposits represented 25.6% of total deposits as of June 30, 2025 and March 31, 2025. The cost of average total deposits was 2.27% for the current quarter, compared to 2.32% for the linked quarter. Funding mix remained stable with 80.8% of total funding composed of deposits. PROVISION FOR CREDIT LOSSES AND CREDIT QUALITY Provision for credit losses totaled $115 million for the current quarter compared to $154 million for the linked quarter. The current quarter provision for credit losses included a provision for loan and lease losses of $111 million and a provision for off-balance sheet credit exposure of $4 million. The provision for loan and lease losses for the current quarter was $111 million compared to $148 million for the linked quarter. The $37 million decrease in the provision for loan and lease losses was mainly attributable to a decrease in net charge-offs of $25 million, along with the impact of an $8 million reserve release in the current quarter compared to a $4 million reserve build in the linked quarter. The provision for off-balance sheet credit exposure for the current quarter was $4 million compared to $6 million for the linked quarter, a decrease of $2 million. Net charge-offs were $119 million for the current quarter, representing 0.33% of average loans, compared to $144 million, or 0.41% of average loans, for the linked quarter. The $25 million decrease was primarily related to lower net charge-offs in the SVB Commercial segment and the Commercial Bank segment. Nonaccrual loans were $1.32 billion, or 0.93% of loans, at June 30, 2025, compared to $1.21 billion, or 0.85% of loans, at March 31, 2025. The increase was mainly due to one individually evaluated nonaccrual credit in the SVB Commercial segment. The allowance for loan and lease losses totaled $1.67 billion, a decrease of $8 million from the linked quarter, as decreases related to Hurricane Helene, other credit quality improvements, and a modest shift in our weighting from the downside to baseline economic scenario were partially offset by higher specific reserves for individually evaluated loans. The allowance for loan and lease losses as a percentage of loans was 1.18% at June 30, 2025, compared to 1.19% at March 31, 2025. CAPITAL AND LIQUIDITY Capital ratios are well above regulatory requirements. The estimated total risk-based capital, Tier 1 risk-based capital, Common equity Tier 1 risk-based capital, and Tier 1 leverage ratios were 14.25%, 12.63%, 12.12%, and 9.64%, respectively, at June 30, 2025. During the current quarter, we repurchased 338,959 shares of our Class A common stock for $613 million and paid a dividend of $1.95 per share on our Class A and Class B common stock. Shares repurchased during the current quarter represented 2.73% of Class A common shares and 2.53% of total Class A and Class B common shares outstanding at March 31, 2025. From inception of the Share Repurchase Program announced in July 2024 ("2024 SRP") through June 30, 2025, we have repurchased 1,456,283 shares of our Class A common stock for $2.89 billion, representing 10.77% of Class A common shares and 10.02% of total Class A and Class B common shares outstanding as of June 30, 2024. The total capacity remaining under the 2024 SRP was $611 million as of June 30, 2025. Additionally, the entire $4 billion capacity remains under the Share Repurchase Program announced on July 25, 2025 ("2025 SRP"). Liquidity position remains strong as liquid assets were $63.62 billion at June 30, 2025, compared to $62.79 billion at March 31, 2025. EARNINGS CALL/ WEBCAST DETAILS BancShares will host a conference call to discuss the company's financial results on Friday, July 25, 2025, at 9 a.m. Eastern time. The call may be accessed via webcast on the company's website at or through the dial-in details below: North America: 1-833-470-1428All other locations: 1-929-526-1599Access code: 819036 Our earnings release, investor presentation, and financial supplement are available at In addition, these materials will be furnished to the Securities and Exchange Commission (the "SEC") on a Form 8-K and will be available on the SEC website at After the event, a replay of the call will be available via webcast at ABOUT FIRST CITIZENS BANCSHARES First Citizens BancShares, Inc. (Nasdaq: FCNCA), a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500TM, is the financial holding company for First-Citizens Bank & Trust Company ("First Citizens Bank"). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; personalized service and resources to help grow and manage wealth; and a nationwide direct bank. Discover more at FORWARD-LOOKING STATEMENTS This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as "anticipates," "believes," "estimates," "expects," "predicts," "forecasts," "intends," "plans," "projects," "targets," "designed," "could," "may," "should," "will," "potential," "continue," "aims" or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares' current expectations and assumptions regarding BancShares' business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other factors that are difficult to predict. Many possible events or factors could affect BancShares' future financial results and performance and could cause actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic (including the imposition of tariffs or trade barriers on trading partners), political (including the makeup of the U.S. Congress and Trump administration), geopolitical events (including conflicts in Ukraine and the Middle East), natural disasters and market conditions, including changes in competitive pressures among financial institutions and the impacts related to or resulting from previous bank failures, the risks and impacts of future bank failures and other volatility in the banking industry, public perceptions of our business practices, including our deposit pricing and acquisition activity, the financial success or changing conditions or strategies of BancShares' vendors or customers, including changes in demand for deposits, loans and other financial services, fluctuations in interest rates, changes in the quality or composition of BancShares' loan or investment portfolio, actions of government regulators, including interest rate decisions by the Board of Governors of the Federal Reserve Board (the "Federal Reserve"), changes to estimates of future costs and benefits of actions taken by BancShares, BancShares' ability to maintain adequate sources of funding and liquidity, the potential impact of decisions by the Federal Reserve on BancShares' capital plans, adverse developments with respect to U.S. or global economic conditions, including significant turbulence in the capital or financial markets, the impact of any sustained or elevated inflationary environment, the impact of any cyberattack, information or security breach, the impact of implementation and compliance with current or proposed laws (including the 2025 U.S. budget reconciliation legislation), regulations and regulatory interpretations, including potential increased regulatory requirements, limitations, and costs, such as FDIC special assessments, increases to FDIC deposit insurance premiums and the proposed interagency rule on regulatory capital, along with the risk that such laws, regulations and regulatory interpretations may change, the availability of capital and personnel, and the risks associated with BancShares' previous acquisition transactions, including the acquisition of certain assets and liabilities of Silicon Valley Bridge Bank, N.A. and the previously completed merger with CIT Group Inc., or any future transactions. BancShares' 2024 SRP allows BancShares to repurchase shares of its Class A common stock through 2025. After completion of maximum repurchases under the 2024 SRP, BancShares' 2025 SRP allows BancShares to repurchase shares of its Class A common stock through 2026. BancShares is not obligated under the 2024 SRP or the 2025 SRP to repurchase any minimum or particular number of shares, and repurchases may be suspended or discontinued at any time (subject to the terms of any Rule 10b5-1 plan in effect) without prior notice. The authorizations to repurchase Class A common stock will be utilized at management's discretion. The actual timing and amount of Class A common stock that may be repurchased under the 2024 SRP or the 2025 SRP will depend on a number of factors, including the terms of any Rule 10b5-1 plan then in effect, price, general business and market conditions, regulatory requirements, and alternative investment opportunities or capital needs. Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares' Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and its other filings with the SEC. NON-GAAP MEASURES Certain measures in this release, including those referenced as "adjusted" or "excluding PAA," are "non-GAAP," meaning they are numerical measures of BancShares' financial performance, financial position or cash flows that are not presented in accordance with generally accepted accounting principles in the U.S. ("GAAP") because they exclude or include amounts or are adjusted in some way so as to be different than the most direct comparable measures calculated and presented in accordance with GAAP in BancShares' statements of income, balance sheets or statements of cash flows and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares management believes that non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results, financial position or cash flows to its investors, analysts and management. These non-GAAP measures should be considered in addition to, and not superior to or a substitute for, GAAP measures. Each non-GAAP measure is reconciled to the most comparable GAAP measure in the non-GAAP reconciliation. This information can be found in the Financial Supplement located in the Quarterly Results section of our website at Contact: Deanna Hart Angela EnglishInvestor Relations Corporate Communications919-716-2137 803-931-1854 View original content to download multimedia: SOURCE First Citizens BancShares, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-07-2025
- Business
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What To Expect From First Citizens BancShares's (FCNCA) Q2 Earnings
Regional banking company First Citizens BancShares (NASDAQGS:FCNC.A) will be reporting results this Friday before market open. Here's what to expect. First Citizens BancShares missed analysts' revenue expectations by 1.3% last quarter, reporting revenues of $2.30 billion, down 6% year on year. It was a slower quarter for the company, with a miss of analysts' net interest income estimates and EPS in line with analysts' estimates. Is First Citizens BancShares a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting First Citizens BancShares's revenue to decline 4.4% year on year to $2.35 billion, improving from the 6.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $39.09 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Citizens BancShares has missed Wall Street's revenue estimates twice over the last two years. Looking at First Citizens BancShares's peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Popular delivered year-on-year revenue growth of 8.9%, beating analysts' expectations by 3.5%, and City Holding reported revenues up 6.3%, topping estimates by 3%. City Holding traded up 7.5% following the results. Read our full analysis of Popular's results here and City Holding's results here. There has been positive sentiment among investors in the regional banks segment, with share prices up 7.3% on average over the last month. First Citizens BancShares is up 13.1% during the same time and is heading into earnings with an average analyst price target of $2,236 (compared to the current share price of $2,158). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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18-07-2025
- Business
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First Citizens BancShares (FCNCA) Expected to Beat Earnings Estimates: Can the Stock Move Higher?
The market expects First Citizens BancShares (FCNCA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on July 25, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. Zacks Consensus Estimate This bank is expected to post quarterly earnings of $39.08 per share in its upcoming report, which represents a year-over-year change of -23.2%. Revenues are expected to be $2.22 billion, down 9.6% from the year-ago quarter. Estimate Revisions Trend The consensus EPS estimate for the quarter has been revised 1.36% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Earnings Whisper Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). How Have the Numbers Shaped Up for First Citizens? For First Citizens, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +1.90%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination indicates that First Citizens will most likely beat the consensus EPS estimate. Does Earnings Surprise History Hold Any Clue? While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that First Citizens would post earnings of $37.72 per share when it actually produced earnings of $37.79, delivering a surprise of +0.19%. Over the last four quarters, the company has beaten consensus EPS estimates three times. Bottom Line An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. First Citizens appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Expected Results of an Industry Player Among the stocks in the Zacks Banks - Southeast industry, Customers Bancorp (CUBI), is soon expected to post earnings of $1.5 per share for the quarter ended June 2025. This estimate indicates a year-over-year change of +0.7%. This quarter's revenue is expected to be $198.92 million, up 0.1% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Customers Bancorp has been revised 0.9% down to the current level. Nevertheless, the company now has an Earnings ESP of -0.89%, reflecting a lower Most Accurate Estimate. When combined with a Zacks Rank of #1 (Strong Buy), this Earnings ESP makes it difficult to conclusively predict that Customers Bancorp will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report First Citizens BancShares, Inc. (FCNCA) : Free Stock Analysis Report Customers Bancorp, Inc (CUBI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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01-07-2025
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First Citizens BancShares, Inc. Announces Date of Second Quarter 2025 Earnings Call
RALEIGH, N.C., July 1, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the quarter ended June 30, 2025, before the U.S. financial markets open on Friday, July 25, 2025. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-register for the call via webcast (recommended), please visit: After registering, a confirmation email will be sent with a calendar reminder attachment and webcast details. To join by telephone on the day of the call, please dial:North America: 1-833-470-1428All other locations: 1-929-526-1599Access code: 819036 The investor presentation, along with the link to the webcast, will be available on the company's website at prior to the call start time. After the event, a replay of the call will also be available on the website via webcast. About First Citizens BancShares, Inc. First Citizens BancShares, Inc. (NASDAQ: FCNCA), a top 20 U.S. financial institution with more than $200 billion in assets and a member of the Fortune 500TM, is the financial holding company for First-Citizens Bank & Trust Company ("First Citizens Bank"). Headquartered in Raleigh, N.C., First Citizens Bank has built a unique legacy of strength, stability and long-term thinking that has spanned generations. First Citizens offers an array of general banking services including a network of branches and offices nationwide; commercial banking expertise delivering best-in-class lending, leasing and other financial services coast to coast; innovation banking serving businesses at every stage; personalized service and resources to help grow and manage wealth; and a nationwide direct bank. Discover more at Contact: Deanna Hart Angela EnglishInvestor Relations Corporate Communications919-716-2137 803-931-1854 View original content to download multimedia: SOURCE First Citizens BancShares, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
