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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
CEO
Jeffrey Agee
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
First-Citizens Bank & Trust Company • First Citizens Housing Development, LLC ...
IRS number
561528994

FCNCA stock data

Calendar

5 Aug 22
12 Aug 22
31 Dec 22
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
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

Financial report summary

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Competition
Truist BankTruist 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

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Positive
Negative
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Constraining
Legalese
Litigous
Readability
H.S. freshman Bad
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Removed: acceptance, actively, coupled, payroll, processing, wholly