Highest-materiality recent filing
First Citizens Q1 2026: $900M buyback, $2.5B debt prepaid; CEO cites growth
Chairman Holding reports loan and deposit growth, resilient credit quality, return metrics exceeding expectations.
First Citizens closes $400M Series E preferred stock offering (16M depositary shares at $25 each)
Filed Certificate of Designation for 6.625% Non-Cumulative Perpetual Preferred Stock, Series E, $1,000 liquidation preference.
FCNCA Q4 adjusted EPS $51.27 vs $45.10 yoy; $900M share repurchases, $2.5B note prepaid
Net income available to common $566M GAAP ($45.81 diluted EPS); adjusted net income $634M ($51.27 diluted EPS).
First Citizens BancShares issues 500,000 depositary shares of 7% Series D Preferred Stock
500,000 depositary shares sold, each representing 1/100th interest in Series D Preferred with $100,000 liquidation preference per share.
Diluted EPS $43.08 GAAP, $44.62 adjusted; net income $568M vs $639M a year ago.
First Citizens to acquire 138 BMO branches in 11 states, assume $5.7B deposits
Transaction includes $5.7B in deposit liabilities and $1.1B in loans from BMO Bank N.A.
First Citizens Q2 net income $575M, EPS $42.36; announces $4.0B share repurchase plan
Net income of $575M, diluted EPS $42.36; adjusted diluted EPS $44.78.
First Citizens Q1 EPS $34.47 down 30% QoQ; net income $483M from $700M
Diluted EPS $34.47 (GAAP) vs $49.21 in Q4 2024; adjusted EPS $37.79 vs $45.10.
First Citizens terminates FDIC shared-loss agreement on $60B SVB loan portfolio
Early termination of commercial shared-loss agreement (CSLA) with FDIC covering $60B in loans from Silicon Valley Bridge Bank acquisition.
First Citizens Q4 net income $700M, EPS $49.21; repurchased $963M in stock
GAAP diluted EPS $49.21 vs $34.33 in Q4 2023; adjusted EPS $45.10 vs $46.58.
First Citizens Q3 net income $639M ($43.42 EPS), down 15% YoY; NIM 3.53%, credit weakens
Net income available to common $624M; diluted EPS $43.42, down from $50.67 YoY. Adjusted EPS $45.87.
First Citizens Q2 EPS $47.54, adj EPS $50.87; authorizes $3.5B share repurchase
Net income $707M ($47.54 diluted EPS), up from $682M ($45.87) YoY; adjusted diluted EPS $50.87.
First Citizens Q1 net income $731M; adj. EPS $52.92, up from $46.58 Q4
GAAP diluted EPS $49.26 vs $34.33 in Q4 2023; adjusted diluted EPS $52.92 vs $46.58.
First Citizens BancShares completes SVB bridge bank acquisition; records $9.8B after-tax gain
Assets acquired $107.54B (loans $68.47B, cash $35.31B); liabilities assumed $61.42B (deposits $56.01B).
First Citizens Q4 GAAP EPS $34.33, adj. $46.58; NIM 3.86%, loans $133.3B
GAAP net income available to common of $499M ($34.33 diluted EPS); adjusted $678M ($46.58).
First Citizens amends SVB acquisition financing: purchase money note increased to ~$36.07B at 3.5%
Amended purchase money note principal adjusted from $35B to ~$36.07B, interest 3.5% p.a., maturing March 2028.
Reported Q2 2023 earnings including first full quarter after acquiring Silicon Valley Bridge Bank on March 27, 2023.
First Citizens reports Q1 earnings; acquired $106.6B SVB Bridge Bank assets at discount
Acquired $106.6B total assets (including $68.5B loans) and assumed $55.96B deposits from FDIC on March 27, 2023.
Acquired ~$110B in assets ($72B loans) and assumed ~$59B liabilities ($56.5B deposits) from FDIC.
First Citizens acquires Silicon Valley Bridge Bank from FDIC; $110B assets, $56B deposits
Acquired ~$110.1B in assets (incl. $72.1B loans) and assumed ~$56.5B deposits at no premium; assets acquired at ~$16.45B discount.
First Citizens Q4 net income $243M ($16.67 EPS); adjusted EPS $20.94; NIM 3.36%
Net interest income $802M (+$7M QoQ); net interest margin 3.36% (-4 bps QoQ).
First Citizens Q3 net income $315M, EPS $19.25; NIM expands 36 bps to 3.40%
Net income available to common $303M ($19.25/sh); adjusted $326M ($20.77/sh).
First Citizens BancShares Reports Q2 2022 Earnings and Announces Share Repurchase Program
Q2 2022 net income available to common stockholders was $238 million, or $14.86 per share.
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).
First Citizens Bank to redeem ~$2.9B of senior unsecured notes on Feb 24, 2022
Redeeming all $1.147B 5.000% notes due 2022, $750M 5.000% notes due 2023, $500M 4.750% notes due 2024, and $500M 5.250% notes due 2025.
First Citizens BancShares completes acquisition of CIT Group in all-stock merger
CIT shareholders received 0.06200 FCNCA Class A common shares per CIT share; preferred converted to new FCNCA Series B and C.
First Citizens receives final Fed approval for CIT merger; close expected early Jan 2022
Received final regulatory approval from the Federal Reserve Board for merger with CIT Group.
First Citizens Q3 net income $124.1M, down 13% YoY; EPS $12.17 vs $14.03; NIM 2.61%
Net income fell to $124.1M from $142.7M YoY; diluted EPS $12.17 vs $14.03.
First Citizens and CIT extend merger deadline to March 2022; FRB approval still pending
Merger agreement extended from Oct 15, 2021 to March 1, 2022, to allow more time for Federal Reserve Board approval.
On January 16, 2024, First Citizens BancShares, Inc. (“BancShares”) announced the appointment of Gregory L. Smith, age 59, to the position of Chief Information & Operations Officer, effective January 9, 2023.
On January 16, 2024, BancShares announced the appointment of Gregory L. Smith, age 59, to the position of Chief Information & Operations Officer, effective January 9, 2024.
appointed David G. Leitch, age 62, to the Board effective January 1, 2024.
the Board appointed Dr. Eugene Flood, Jr., age 66, to the Board effective January 1, 2023 to fill the vacancy that will be created by Mr. Heavner’s retirement.
Mr. Daniel Heavner, age 75, notified the Board of Directors (the “Board”) of First Citizens BancShares, Inc. (“BancShares”) that he would retire from his position as a director of BancShares and its subsidiary, First-Citizens Bank & Trust Company (“FCB”), effective on December 31, 2022.
At the Effective Time, Marisa J. Harney, the former Chief Credit Officer of CIT, was appointed as the Chief Credit Officer of FCB.
At the Effective Time, pursuant to the terms of the Merger Agreement, Ellen R. Alemany, the former Chairwoman and Chief Executive Officer of CIT, was appointed as the Vice Chairwoman of First Citizens and FCB.
Max materiality 1.00 · Median 0.65 · Most common event earnings