First Citizens Bancshares, Inc (FCNCA)

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank is one of the largest family-controlled banks in the U.S., with offices in 19 states. Drawing from over a century of experience serving the needs of business customers, First Citizens focuses on developing long-term relationships and offers a comprehensive array of products and services to help small businesses manage their finances and grow. First Citizens Bank is a major subsidiary of First Citizens BancShares Inc., which has over $48 billion in assets.

Company profile

Ticker

FCNCA, FCNCB, FCNCO, FCNCP

Exchange

NASDAQ

Website

www.firstcitizens.com

CEO

Jeffrey Agee

Incorporated

Delaware

Location

North Carolina

Fiscal year end

Dec 31

Sector

Finance and Insurance > Commercial Banking

Industry (SIC)

State Commercial Banks

Bank Of New York Mellon • State Street • Citizens Financial • Northern Trust • M & T Bank • Popular • Fifth Third Bancorp • Associated Banc-Corp. • SVB Financial • Commerce Bancshares ...

SEC CIK

0000798941

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

First-Citizens Bank & Trust Company • First Citizens Housing Development, LLC ...

IRS number

561528994

FCNCA stock data

1M 1Y 5Y

News

From Benzinga Pro

Recap: First Citizens BancShares Q2 Earnings

28 Jul 22

First Citizens BancShares (NASDAQ:FCNCA) reported its Q2 earnings results on Thursday, July 28, 2022 at 06:30 AM. Here's what investors need to know about the announcement.

First Citizens BancShares Q2 EPS $16.86 Beats $15.12 Estimate

28 Jul 22

First Citizens BancShares (NASDAQ:FCNCA) reported quarterly earnings of $16.86 per share which beat the analyst consensus estimate of $15.12 by 11.51 percent. This is a 11.73 percent increase over earnings of $15.09 per

Earnings Scheduled For July 28, 2022

28 Jul 22

Companies Reporting Before The Bell • ArcelorMittal (NYSE:MT) is estimated to report earnings for its second quarter.

Press releases

From Benzinga Pro

CIT Closes $75 Million Factoring Facility with Consumer Products Wholesaler

11 Aug 22

NEW YORK, Aug. 11, 2022 /PRNewswire/ -- CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it has completed a $75 million factoring facility on behalf of a consumer products wholesaler.

CIT Increases Lending Facility for Fashion Company to $100 Million

3 Aug 22

NEW YORK, Aug. 3, 2022 /PRNewswire/ -- CIT Commercial Services, a subsidiary of First Citizens Bank, today announced that it increased a New York-based fashion company's discretionary lending facility to $100 million

CIT Serves as Sole Lead Arranger of Financing for Swell Energy's Commercial Behind-The-Meter Energy Storage Projects

2 Aug 22

NEW YORK, Aug. 2, 2022 /PRNewswire/ -- CIT, a division of First Citizens Bank, today announced that its Power and Energy business served as sole lead arranger of financing for the development of Swell Energy's

CIT Provides Acquisition Financing for Apartment Complex in Florida

1 Aug 22

First Citizens BancShares Declares Dividends

28 Jul 22

Calendar

5 Aug 22

12 Aug 22

31 Dec 22

Financial summary

Financial statements Chart FCNCA financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Recent insider trades

FCNCA insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
28 Jun 22	Bryant Hope Holding	Class A Common Stock	Gift	Acquire G	Yes	No	0	9,400	0	63,334
28 Jun 22	Bryant Hope Holding	Class A Common Stock	Gift	Dispose G	Yes	No	0	28,200	0	0
22 Jun 22	Bryant Hope Holding	Class B Common Stock	Gift	Acquire G	Yes	No	0	25,400	0	33,833
22 Jun 22	Bryant Hope Holding	Class B Common Stock	Gift	Dispose G	Yes	No	0	76,200	0	0
22 Jun 22	Bryant Hope Holding	Class A Common Stock	Gift	Acquire G	Yes	No	0	23,900	0	53,934
22 Jun 22	Bryant Hope Holding	Class A Common Stock	Gift	Dispose G	Yes	No	0	71,700	0	0
10 Jun 22	Frank B Holding JR	Class B Common Stock	Buy	Acquire P	Yes	No	631.5	155	97.88K	1,689
10 Jun 22	Frank B Holding JR	Class B Common Stock	Buy	Acquire P	Yes	No	626	70	43.82K	2,392
10 Jun 22	Frank B Holding JR	Class B Common Stock	Buy	Acquire P	No	No	630	254	160.02K	92,212
3 Jun 22	Frank B Holding JR	Class B Common Stock		Acquire L	No	No	630	9	5.67K	91,958

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Financial report summary

Competition

Truist Bank • Truist Bank

Management Discussion

•NII for the three months ended June 30, 2022 was $700 million, an increase of $51 million compared to the first quarter of 2022. The increase was primarily due to the impact of higher yields on loans, investment securities and overnight investments, the debt redemption in the first quarter and strong loan growth, partially offset by a decline in SBA-PPP income and slightly higher interest-bearing deposit costs.
◦Interest income earned on loans and leases for the three months ended June 30, 2022 was $655 million, an increase of $34 million compared to the first quarter of 2022. The increase was primarily due to higher yields and growth in the average loans and leases balance from $64.1 billion in the previous quarter to $65.3 billion in the current quarter. The increase was partially offset by a decline in SBA-PPP interest income.
◦Interest income earned on investment securities for the three months ended June 30, 2022 was $89 million, an increase of $6 million compared to the first quarter of 2022. The increase was primarily due to higher reinvestment rates and lower prepayments and premium amortization on our mortgage-backed investment security portfolio.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. freshman Bad

New words: ago, aircraft, backfill, bond, bring, broad, center, combat, commentary, complimentary, disbursed, enhanced, Fed, footnote, highlight, inflationary, middle, mild, negotiated, nonsufficient, permanent, prejudice, provisional, recession, repaid, retiree, Rule, rulemaking, runoff, safe, stipulation, twelve, upward, weigh

Removed: acceptance, actively, coupled, payroll, processing, wholly

From filing 10-Q 2022 Q2

Financial reports

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