earnings
confidence high
sentiment positive
materiality 0.75
First Citizens Q3 net income $315M, EPS $19.25; NIM expands 36 bps to 3.40%
FIRST CITIZENS BANCSHARES INC /DE/
2022-Q3 EPS reported
$50.70
- Net income available to common $303M ($19.25/sh); adjusted $326M ($20.77/sh).
- Pre-provision net revenue $468M, up 23.5% QoQ; adjusted $506M, up 21.3%.
- Net interest margin 3.40% (+36 bps QoQ); loans grew $2.1B to $69.8B.
- Deposits fell $1.8B; borrowings up $3.9B to fund loan growth.
- Share repurchases: 98.5% of 1.5M share authorization completed as of Oct 25.