secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA)
CIK:        0000798941
Form:       8-K
Filed at:   2022-01-26T23:59:59+00:00
Accession:  0001140361-22-002662
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Citizens Q4 net income $123.3M, down 10.7%; CIT merger completed Jan 3
----------------------------------------------------------------------------

- Q4 net income $123.3M (-10.7% YoY); diluted EPS $12.09 vs $13.59; full-year net income $547.5M (+11.3% YoY).
- Taxable-equivalent NIM 2.58%, down 44 bps YoY; provision for credit losses was net benefit of $5.1M.
- Total loans $32.4B (-1.3% YoY, but +4.9% ex-SBA-PPP); deposits $51.4B (+18.4% YoY).
- Completed CIT merger on Jan 3, 2022, forming top 20 U.S. bank; CIT results not included in Q4 figures.
- Capital well above requirements: CET1 ratio 11.50%, Tier 1 leverage 7.59%; no share repurchases in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/798941/000114036122002662/0001140361-22-002662-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/798941/000114036122002662/brhc10033093_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-002662

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