secwatch.observer — SEC 8-K summary
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Issuer:     FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA)
CIK:        0000798941
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000798941-24-000034
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Citizens Q2 EPS $47.54, adj EPS $50.87; authorizes $3.5B share repurchase
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- Net income $707M ($47.54 diluted EPS), up from $682M ($45.87) YoY; adjusted diluted EPS $50.87.
- Net interest income $1.82B, down 7% YoY; NIM 3.64% vs 4.11% a year ago.
- Total loans $139.3B (+4.8% YoY), deposits $151.1B (+7.0% YoY); SVB segment achieved loan and deposit growth.
- Credit quality: nonaccrual loans 0.82%, net charge-off ratio 0.38%; provision for credit losses $95M vs $151M YoY.
- Board authorized up to $3.5B share repurchase through 2025; repurchases expected to begin Q3 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798941/000079894124000034/0000798941-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798941/000079894124000034/fcnca-20240725.htm
  HTML page:      https://secwatch.observer/filing/0000798941-24-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer