FCNCA
First Citizens BancShares, Inc.2091.85
+16.99+0.82%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
NII troughs 2026; tech peaks
Q&A drilled into 2026 NII trajectory, projecting mid-single-digit Q1 decline to mid-3.10s headline NIM under baseline two rate cuts (June, October), troughing that year before flat Q4 exit versus 2025. Tech spend peaks in 2026. Management outlined minimum $500M-$1B monthly purchase money note repayments from collateral roll-offs, plus portfolio sales like mortgages to balance liquidity, constraining loan growth despite SVB's robust $11.5B pipeline and improving VC activity. Expense range hinges on direct bank marketing and tech efficiencies. Confident tone on deposits and leverage; watch PMN pace versus growth.
Key Stats
Market Cap
26.78BP/E (TTM)
12.39Basic EPS (TTM)
168.81Dividend Yield
0%Recent Filings
8-K
Issued $500M senior notes
First Citizens BancShares issued and sold $500,000,000 of 4.869% Fixed-to-Floating Rate Senior Notes due 2032 on March 3, 2026, via public offering. Underwritten by J.P. Morgan, BofA, and Wells Fargo, the notes issued under a supplemental indenture with U.S. Bank Trust. Funds use not disclosed. Bolsters senior unsecured debt profile.
10-K
FY2025 results
First Citizens BancShares grew total assets to $229.7B in FY2025 ended December 31, 2025, with loans up 6% y/y to $147.9B driven by Commercial Bank expansion in Global Fund Banking and TMT/Healthcare, while deposits rose 4% y/y to $161.6B across segments. NII fell 5% y/y to $6.81B with NIM down 29bps to 3.25% from lower loan yields and PAA, yet Q4 share repurchases hit $900M (479K shares) under the $4B 2025 SRP, leaving $2.81B capacity. Net income dropped 21% y/y to $2.21B amid higher provisions ($514M, up 19%) from $82M supply chain charge-off and elevated noninterest expense (+6% y/y), offset by 4% noninterest income growth. Q4 accelerated repurchases signal confidence; well-capitalized at 13.71% total risk-based. Yet CRE concentrations risk quarterly momentum if property values weaken further.
8-K
Closes Series E preferred offering
First Citizens BancShares filed a certificate of designation on February 3, 2026, creating 6.625% Non-Cumulative Perpetual Preferred Stock, Series E, with $1,000 liquidation preference. It closed a public offering of 16,000,000 depositary shares—each 1/40th of a share—on February 5 via underwriters including BofA and JPM. Series E ranks parity with existing preferreds, senior to common. Non-cumulative dividends lock out common payouts if skipped.
8-K
Q4 earnings up, loans grow strong
First Citizens BancShares posted Q4 net income of $580 million, up from $568 million prior quarter, with loans surging $3.2 billion to $147.9 billion on Global Fund Banking strength while prepaid $2.5 billion Purchase Money Note. Credit quality sharpened: net charge-offs plunged to 0.39%, nonaccruals to 0.88%, provision to $54 million. Repurchased $900 million shares. Capital stays rock-solid.
8-K
CRO retires; successor named
First Citizens BancShares' Chief Risk Officer Lorie Rupp notified her retirement effective June 1, 2026, after 13 years at the bank. Treasurer Tom Eklund, a 20-year veteran, will succeed her, ensuring smooth transition amid growth. Continuity reigns. Press release highlights Eklund's capital and liquidity expertise aligning with risk priorities.
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