secwatch.observer — SEC 8-K summary
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Issuer:     FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA)
CIK:        0000798941
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000798941-24-000044
Event type: earnings
Sentiment:  negative
Materiality: 0.78
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Citizens Q3 net income $639M ($43.42 EPS), down 15% YoY; NIM 3.53%, credit weakens
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- Net income available to common $624M; diluted EPS $43.42, down from $50.67 YoY. Adjusted EPS $45.87.
- Net interest income $1,796M (-9.7% YoY); net interest margin 3.53% vs 4.07% on rate and mix pressure.
- Total loans $138.7B (+4.1% YoY) but SVB Commercial fund banking loans fell to $27.1B.
- Nonaccrual loans ratio 0.90% (vs 0.68% YoY); net charge-offs $145M (0.42% annualized).
- Repurchased ~350,000 shares for $700M in Q3 under July 2024 buyback plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798941/000079894124000044/0000798941-24-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798941/000079894124000044/fcnca-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000798941-24-000044

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