First Citizens BancShares Reports Q2 2022 Earnings and Announces Share Repurchase Program

FIRST CITIZENS BANCSHARES INC /DE/

2022-Q2 EPS reported $31.48

Q2 2022 net income available to common stockholders was $238 million, or $14.86 per share.
Adjusted pre-provision net revenue increased $60 million from Q1 2022 due to net interest margin expansion and fee income growth.
Board authorized repurchase of up to 1.5 million shares of Class A common stock through July 28, 2023.
Total loans increased $2.2 billion or 13.5% annualized; deposits declined $2.3 billion or 9.9% annualized.
Merger with CIT Group substantially complete; first major customer conversion of OneWest Bank completed.

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