FCNCA First Citizens Bancshares, Inc Dashboard

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, FCNCP

Exchange

NASDAQ

Website

www.firstcitizens.com

CEO

Frank Holding

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 • Fifth Third Bancorp • Northern Trust • M & T Bank • Popular • Ally Financial • Associated Banc-Corp. • SVB Financial ...

SEC CIK

0000798941

Corporate docs

Articles of Incorporation & Bylaws

IRS number

561528994

FCNCA stock data

S&P 500

1M 1Y 2Y 5Y

News

Pro users get this 30m faster

First Citizens BancShares Q2 EPS $15.09 Up From $14.74 YoY

3 Aug 21

First Citizens BancShares (NASDAQ:FCNCA) reported quarterly earnings of $15.09 per share. This is a 2.37 percent increase over earnings of $14.74 per share from the same period last year.

Earnings Scheduled For August 3, 2021

3 Aug 21

Companies Reporting Before The Bell • Myriad Genetics (NASDAQ:MYGN) is likely to report earnings for its fourth quarter. • Stellantis (NYSE:STLA) is expected to report earnings for its second quarter.

Press releases

Pro users get this 30m faster

First Citizens BancShares Reports Earnings For Second Quarter 2021

3 Aug 21

RALEIGH, N.C., Aug. 03, 2021 (GLOBE NEWSWIRE) -- First Citizens BancShares Inc. ("BancShares") (NASDAQ:FCNCA) reported another quarter of strong earnings for the second quarter of 2021. Key results for the quarter

First Citizens BancShares Declares Dividend on Series 'A' Preferred Stock

27 Jul 21

RALEIGH, N.C., July 27, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of First Citizens BancShares Inc. (NASDAQ:FCNCA) declared a regular quarterly dividend on the company's 5.375% non-cumulative perpetual preferred

First Citizens BancShares, Inc. Announces Date of 2021 Second Quarter Financial Results, Earnings Call

23 Jul 21

RALEIGH, N.C., July 23, 2021 (GLOBE NEWSWIRE) -- First Citizens BancShares, Inc. today announced that it will report its financial results for the second quarter ended June 30, 2021, before the U.S. financial markets

First Citizens BancShares Declares Dividend

19 Jul 21

First Citizens, CIT Receive FDIC Approval Of Proposed Merger

14 Jul 21

Calendar

3 Aug 21

4 Aug 21

31 Dec 21

Financial summary

Financial statements Chart FCNCA financial data

Quarter (USD)	Jun 21	Mar 21	Dec 20	Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 20	Dec 19	Dec 18	Dec 17
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.

Cash burn rate (estimated)	Burn method: Change in cash		Burn method: Operating income/loss		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	395.36M	395.36M	395.36M	395.36M	395.36M	395.36M
Cash burn (monthly)	5.04M	(positive/no burn)	(positive/no burn)	(positive/no burn)	234.31M	29.9M
Cash used (since last report)	5.9M	n/a	n/a	n/a	274.18M	34.99M
Cash remaining	389.46M	n/a	n/a	n/a	121.18M	360.37M
Runway (months of cash)	77.2	n/a	n/a	n/a	0.5	12.1

Beta Read what these cash burn values mean

Recent insider trades

FCNCA insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
20 Jul 21	Bryant Hope Holding	Class B Common Stock	Gift	Aquire G	Yes	No	0	149	0	198
20 Jul 21	Bryant Hope Holding	Class B Common Stock	Gift	Dispose G	Yes	No	0	170	0	1,577
14 May 21	Bryant Hope Holding	Class A Common Stock	Gift	Dispose G	Yes	No	0	78,387	0	91,989
14 May 21	Bryant Hope Holding	Class A Common Stock	Gift	Aquire G	Yes	No	0	78,387	0	78,387
24 Mar 21	John M Alexander	Class A Common Stock	Gift	Aquire G	Yes	No	0	200	0	200
24 Mar 21	John M Alexander	Class A Common Stock	Gift	Dispose G	No	No	0	200	0	1,027
19 Mar 21	Jeffery L Ward	Class A Common Stock	Buy	Aquire P	No	No	837.99	178	149.16K	378
23 Feb 21	Carson H Brice	Class A Common	Gift	Aquire G	Yes	No	0	1,600	0	86,330
10 Feb 21	Carson H Brice	Class A Common	Gift	Dispose G	Yes	No	0	4,200	0	17,285
10 Feb 21	Bryant Hope Holding	Class A Common Stock	Gift	Aquire G	Yes	No	0	4,200	0	14,200

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

Financial report summary

Competition

Truist Bank • Truist Bank

Management Discussion

Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations
Management’s discussion and analysis (“MD&A”) of earnings and related financial data are presented to assist in understanding the financial condition and results of operations of First Citizens BancShares, Inc. and its subsidiaries (“BancShares”). This discussion and analysis should be read in conjunction with the unaudited consolidated financial statements and related notes presented within this Quarterly Report on Form 10-Q along with our financial statements and related MD&A of financial condition and results of operations included in our Annual Report on Form 10-K for the year ended December 31, 2020 (“2020 Annual Report”). Intercompany accounts and transactions have been eliminated. Although certain amounts for prior years have been reclassified to conform to statement presentations for 2021, the reclassifications had no effect on shareholders’ equity or net income as previously reported. Unless otherwise noted, the terms “we,” “us” and “BancShares” refer to the consolidated financial position and consolidated results of operations for BancShares.
BancShares conducts its banking operations through its wholly-owned subsidiary First-Citizens Bank & Trust Company (“FCB”), a state-chartered bank organized under the laws of the state of North Carolina.

Content analysis

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

New words: acknowledged, deployment, drove, earlier, enabled, entitled, eventual, height, incomplete, proposed, redeployment, resolution, resume, upcoming, uptick, vigilant, waiver, widely, witnessed

Removed: anticipate, assisted, August, backed, bill, CCBI, Chicago, consistent, criteria, defaulted, elevated, employment, enhanced, fallout, February, federally, financially, Flexibility, goal, incurred, inflation, influx, medical, mentioned, operationally, outlook, posed, projected, recording, relaxation, revolving, safety, size, track, transmit, travel, volatility, whichever, work

From filing 10-Q 2021 Q2