First Citizens BancShares

First Citizens BancShares, Inc. is a bank holding company, which provides retail and commercial banking services through its subsidiaries. The company operates under the following segments: General Banking, Commercial Banking, Rail, and Corporate. The General Banking delivers services to individuals through branch networks. The Commercial Banking provides lending, leasing and other financial and advisory services to small and middle market companies. The Rail segment deals with the provision of equipment leasing and secured financing for railroads and shippers. The Corporate segment is comprised of investment securities and interest bearing cash. The company was founded on August 7, 1986 and is headquartered in Raleigh, NC.

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First Citizens BancShares reports strong 2022 performance and outlines 2023 priorities

First Citizens BancShares showcased strong financial performance in 2022 with notable achievements in loan growth and expense control.
The company's strategic focus for 2023 includes core business investments, talent acquisition, and effective risk management.
While facing challenges like seasonal loan declines and non-performing loans, opportunities lie in stable margins and deposit growth strategies.
Overall, the company aims for continued growth and efficiency while navigating market dynamics and maintaining strong credit quality.

First Citizens BancShares reports strong Q1 performance post SVB acquisition

First Citizens BancShares showcased robust financial performance driven by the SVB acquisition and strategic initiatives.
Challenges include evolving market dynamics and managing expenses and criticized loans in certain portfolios.
Opportunities lie in leveraging the SVB acquisition for growth, optimizing cost structures, and adapting to regulatory changes.
Overall, the company is well-positioned to navigate challenges and capitalize on growth prospects in the financial landscape.

First Citizens BancShares excels in Q2 with SVB acquisition

First Citizens BancShares (FCNCA) demonstrated robust financial performance and strategic progress in the second quarter, driven by the SVB acquisition.
While facing challenges such as declining accretable yield and noninterest revenue, the company remains focused on capital management and long-term value creation.
Opportunities lie in potential share buybacks, optimizing deposit mix, and enhancing risk management practices to drive future growth and profitability.

First Citizens BancShares reports robust Q3 earnings amidst strategic acquisitions

First Citizens BancShares (FCNCA) delivered strong financial performance in Q3 2023, driven by earnings growth, deposit expansion, and strategic acquisitions.
While facing challenges such as elevated charge-offs and market-related declines, the company remains focused on regulatory readiness and innovation-driven growth opportunities.
With a prudent risk management approach, strategic acquisitions, and a focus on optimizing the credit portfolio, First Citizens BancShares is poised for continued growth and resilience in the evolving financial landscape.

First Citizens BancShares reports strong 2023 performance and outlines 2024 priorities

First Citizens BancShares had a successful 2023 with strong financial results and a focus on strategic priorities for 2024. The company maintains a strong capital position and is progressing on SVB integration.
Challenges include market shifts in office innovation and equipment finance, as well as potential headwinds from debt issuance costs. Opportunities exist in managing asset sensitivity, tightening underwriting, and driving growth in innovative portfolios.
Overall, the outlook for 2024 includes expectations for growth in loans and deposits, expense management, and maintaining credit quality. The company's proactive approach to capital management and focus on client service position it for continued success.

First Citizens BancShares reports robust Q1 earnings and growth outlook

First Citizens BancShares (FCNCA) delivered strong Q1 results, focusing on stability, compliance, and growth opportunities. Despite challenges in VC fundraising and market conditions, the company remains optimistic about its performance and strategic initiatives.

First Citizens BancShares reports robust Q3 earnings amidst growth opportunities

First Citizens BancShares demonstrated solid financial performance with a focus on maintaining strong capital and liquidity positions.
While facing challenges such as loan reductions and slight capital ratio decreases, the company remains optimistic about future growth opportunities.
Analysts' inquiries and management discussions highlighted a proactive approach to addressing challenges and leveraging opportunities for sustained success.

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Silicon Valley Bank leads the financing in the first loan closing since being acquired by First Citizens Bank DENVER , May 9, 2023 /PRNewswire/ -- Today, Pivot Energy is excited to announce the closing of a ~ $203 million financing facility to support a multi-state portfolio of distributed generation solar projects. Silicon Valley Bank (SVB), a division of First Citizens Bank, will lead the debt facilities, and Foss & Company (Foss) will make the initial tax equity investment.

Pivot Energy Closes $200 Million Financing Facility for a 100 MW Multi-State Portfolio of Distributed Solar Projects

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Although more than two dozen U.S. banks saw their deposits decline by more than 5% in the first quarter, collectively all banks posted a tiny sequential increase despite concerns from investors, according to data released Monday by S&P.

Bank deposits rose slightly in first quarter despite noise around regional banks: S&P

RALEIGH, N.C. , April 27, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $16 million in financing to FitLife Brands, Inc., a provider of innovative and proprietary nutritional supplements headquartered in Omaha, Nebraska.

First Citizens Bank Provides $16 Million in Financing to FitLife Brands, Inc.

Silicon Valley Bank's new owner faces two challenges: improving business while restoring the bank's reputation.

First Citizens to Woo Startups and Rebuild SVB Business Model

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Investors and entrepreneurs familiar with the North Carolina-based bank say its focus on client services should translate well in Silicon Valley.

First Citizens Won the SVB Auction. Can It Win Over SVB's VC and Startup Clients?

Citizens Financial Services' previously announced acquisition of HV Bancorp has received requisite regulatory approvals. The acquisition, which was announced in October and was subject to approvals, is now expected to close June 16, though it remains subject to customary closing conditions, Citizens Financial Services said in a Monday (April 10) press release.

First Citizens Community Bank Parent Gains Regulatory Approvals for Acquisition

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The 2nd & 3rd biggest bank busts in history happened less than a month ago and nobody cares. The Fed and FDIC did a great job with SVB Financial Group and Signature Bank, and that probably reduced moral hazard and protected the economy.

Dilution And M&A Coming To Banks

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Pity the American bank stock investor. Since January, the KBW Nasdaq Bank Index has fallen 20% on fears of bank contagion.

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RALEIGH, N.C. , April 6, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the first quarter ended March 31, 2023, before the U.S. financial markets open on Wednesday, May 10, 2023.

First Citizens BancShares, Inc. Announces Date of 2023 First Quarter Earnings Call

One man's loss is another man's gain, or so the saying goes. As the fallout from last month's collapse of SVB continues to ripple through the marketplace, perhaps the saying has never been truer.

3 Reasons to Pick First Citizens Instead of First Republic

UBS analyst Brody Preston lifts his recommendation on shares of First Citizens to Buy from Sell.

First Citizens Stock Is Double Upgraded to Buy on Benefits of SVB Purchase

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In recent years, COVID and a ZIRP (Zero Interest Rate Policy) caused out-of-control inflation to swerve the economy in the wrong direction. However, the Federal Reserve and its Chairman, Jerome Powell, slammed on the brakes last year by instituting the most aggressive interest rate hiking policy in over four decades.

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Plus, Michael Kehoe, CEO of Kinsale Capital Group, talks about the specialty insurance landscape.

First Citizens Got a Deal on SVB Assets

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Disney, First Citizens, Alibaba: Stocks That Defined the Week

Regulator Federal Deposit Insurance Corporation (FDIC) exercised its equity appreciation right in First Citizens BancShares Inc stock worth $500 million as part of a deal for the regional lender to buy failed Silicon Valley Bank.

FDIC exercises $500 million in First Citizens stock to close SVB deal

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Fund investors were net purchasers of money market funds while being net redeemers of equity funds, taxable bond funds, and tax-exempt fixed income funds for the week. On the domestic equity side of the equation, investors became more risk-seeking for the week.

U.S. Weekly FundFlows Insight Report: Despite Rally In U.S. Stocks, Equity ETF And Fund Investors Were Net Redeemers For Fund Flows Week

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As March 2023 comes to a close, we observe four new preferred stock / ETD offerings during the month, with yields ranging from 6.625% to 9.5%. Here is a comparison against the highest quality preferred stocks in our coverage universe, as ranked by our internal “CDx3 Compliance Score” metric:

2 Preferred Stocks 'Disappear,' 4 Offered

NEW YORK , March 30, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance group, part of the CIT division, has provided $44.2 million to affiliates of Kayne Anderson Real Estate and Remedy Medical Properties to finance a portfolio of medical office building properties. The portfolio consists of three medical office building properties located in Wisconsin and Illinois with combined rentable space of more than 266,000 square feet.

First Citizens Bank Provides $44.2 Million for Medical Office Building Portfolio

The discount on the assets makes the deal immensely accretive to First Citizens' tangible book value and earnings power. First Citizens is also getting new businesses that have performed very well in the past.

First Citizens' Acquisition of Silicon Valley Bank's Assets Could Be the Deal of a Lifetime

Silicon Valley Bank went under on March 10 after a run on deposits. It couldn't cover outflows because so much depositor money was tied up in long-term bonds that lost value as interest rates rose.

Why Is Everybody Talking About Banks' Long-Term Bonds?

First Citizens BancShares, Inc. trades at 70% of book after the recent run up. During normal times, First Citizens has traded for 1.5 times book value.

First Citizens BancShares Still Has Room To Run After 50% Gain

Shares of First Citizens BancShares Inc climbed to a record high on Tuesday, extending gains for a second day after scooping up the assets of failed peer Silicon Valley Bank.

First Citizens shares hit record high in wake of SVB purchase

First Citizens' (FCNCA) subsidiary enters a deal to buy a chunk of Silicon Valley Bank following its collapse.

First Citizens (FCNCA) Jumps on Buying Part of SVB Post Failure

The management team at First Citizens BancShares agreed to absorb Silicon Valley Bridge Bank in a deal that will drastically increase the company's asset base. This move grants First Citizens significant benefits and protections while building out and growing new and existing operations, respectively.

First Citizens BancShares Wins The Lottery With Acquisition Of Silicon Valley Bank

In total, First Citizens Bank will pick up $56 billion of new deposits and $72 billion of existing loans, at a discount of $16.5 billion.

First Citizens Bank Buys Silicon Valley Bank's Assets - Did Shareholders Get A Good Deal?

News for First Citizens BancShares Stock (FCNCA)