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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NEW YORK , Nov. 14, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business served as lead agent on a $170 million credit facility for esVolta, a leading developer, owner and operator of utility-scale battery energy storage projects in North America. The facility supports the completion of the company's esFaraday portfolio, which comprises 370 megawatt hours of energy storage projects in California.

First Citizens Bank Leads $170 Million Refinancing for California Battery Energy Storage Project Portfolio

Agreement adds $6.5 billion in community lending to First Citizens' longstanding legacy of community support RALEIGH, N.C. , Nov. 14, 2023 /PRNewswire/ -- First Citizens Bank today announced an amendment to its existing Community Benefits Plan agreement with the National Community Reinvestment Coalition (NCRC) and its members that extends the bank's longstanding community support to Northern California and Massachusetts following its March acquisition of Silicon Valley Bank.

First Citizens Announces Expanded Commitment to Communities in Northern California and Eastern Massachusetts

JPMorgan Chase & Co

UBS Group AG

Unlike most of the industry, 3 banking juggernauts grew stronger during the recent banking crisis. Stock Strategist Andrew Rocco unveils the 3 strongest banks that benefit from acquisitions.

Banking Consolidation: 3 Stocks to Buy Following Key Acquisitions

RALEIGH, N.C. , Nov. 7, 2023 /PRNewswire/ -- First Citizens Bank is contributing $200,000 to nonprofit organizations providing housing relief and other essential assistance in areas impacted by the recent Hawaii wildfires.

FIRST CITIZENS BANK CONTRIBUTES $200,000 TO NONPROFITS PROVIDING RELIEF IN AREAS IMPACTED BY HAWAII WILDFIRES

First Citizens (FCNCA) possesses solid growth attributes, which could help it handily outperform the market.

Looking for a Growth Stock? 3 Reasons Why First Citizens (FCNCA) is a Solid Choice

The average of price targets set by Wall Street analysts indicates a potential upside of 25.6% in First Citizens (FCNCA). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Wall Street Analysts Think First Citizens (FCNCA) Could Surge 25.64%: Read This Before Placing a Bet

RALEIGH, N.C. , Nov. 2, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business provided $44 million in construction financing to Greek Real Estate Partners ('GREP') — a leading New Jersey-based, vertically-integrated real estate firm focused on industrial development — to build a Class A distribution center seven miles north of Downtown Philadelphia.

First Citizens Bank Provides $44 Million Construction Loan for Philadelphia Distribution Center

RALEIGH, N.C. , Nov. 1, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. (Nasdaq: FCNCA) is deeply saddened to announce the death of Floyd Keels, a longtime member of the company's Board of Directors.

First Citizens Mourns the Passing of Director Floyd Keels

Bank's annual campaign supports nonprofit's work to improve facilities, programs and care for teens and young adults with cancer RALEIGH, N.C. , Nov. 1, 2023 /PRNewswire/ -- What if you could help a young person with cancer?

First Citizens Bank Launches 2023 Teen Cancer America Campaign

First Citizens BancShares, Inc. (NASDAQ:FCNCA ) Q3 2023 Results Conference Call October 26, 2023 9:00 AM ET Company Participants Deanna Hart - Senior Vice President of Investor Relations Frank Holding - Chairman and Chief Executive Officer Craig Nix - Chief Financial Officer Andy Giangrave - EVP, Chief Credit Officer of the Commercial Bank Randy Martin - SVP, Branch Development and Project Management Tom Eklund - Treasurer Conference Call Participants Stephen Scouten - Piper Sandler Brady Gailey - KBW Steven Alexopoulos - JP Morgan Christopher Marinac - I2BBA Brian Foran - Autonomous Brody Preston - UBS Operator Ladies and gentlemen, thank you for standing by. And welcome to the First Citizens Bancshares Third Quarter 2023 Earnings Conference Call.

First Citizens BancShares, Inc. (FCNCA) Q3 2023 Earnings Call Transcript

First Citizens BancShares (FCNCA) came out with quarterly earnings of $55.92 per share, beating the Zacks Consensus Estimate of $48.35 per share. This compares to earnings of $20.77 per share a year ago.

First Citizens BancShares (FCNCA) Surpasses Q3 Earnings and Revenue Estimates

RALEIGH, N.C. , Oct. 26, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the third quarter ended September 30, 2023.

First Citizens BancShares Reports Third Quarter 2023 Earnings

NEW YORK , Oct. 24, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business has served as lead agent on $60 million in financing to Gore Street Energy Storage Fund plc for the development of a 200-megawatt battery storage project located in Imperial County, California. Gore Street Energy Storage Fund plc (LSE: GSF) is a publicly traded battery storage company that builds, owns and operates battery storage projects across the UK, Ireland, Germany and the US.

First Citizens Provides $60 Million Credit Facility for 200-Megawatt Battery Storage Project in California

SVB's latest solutions and a new State of the Fintech Industry Report available at Money20/20 MONEY20/20 LAS VEGAS , Oct. 23, 2023 /PRNewswire/ -- Fully committed to supporting its clients and the innovation economy, Silicon Valley Bank , a division of First Citizens Bank, is showcasing a series of new products and services this week at the annual financial services Money20/20 event in Las Vegas. Since its acquisition by First Citizens Bank in 2023, SVB continues to deliver and invest in new digital solutions, such as its digital banking platform SVB Go, new efficiency tools including travel and expense management, and curated tech stack partnerships to support the ongoing operations and growth of its clients.

Silicon Valley Bank Rolls Out New Solutions and Research Supporting Investors and Innovation Economy Companies

3 Reasons Why Growth Investors Shouldn't Overlook First Citizens (FCNCA)

RALEIGH, N.C. , Oct. 18, 2023 /PRNewswire/ -- First Citizens Bank today announced that its CIT Commercial Services subsidiary, a national leader in factoring, credit protection and accounts receivable management solutions, recently closed three major client financing transactions.

First Citizens Bank Closes More Than $66 Million in Financings With Consumer Products Companies

Goldstein rejoins from SVB Capital SAN FRANCISCO , Oct. 18, 2023 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced that 20-year healthcare financing industry veteran Jennifer Friel Goldstein has been appointed Head of Business Development and Strategic Initiatives for Life Science and Healthcare (LSHC) banking. Based in the Bay Area, Goldstein reports to 30-year SVB leader Joan Parsons, Head of Technology and Healthcare Banking.

Silicon Valley Bank Names Jennifer Friel Goldstein Head of Business Development for Life Science and Healthcare Banking

RALEIGH, N.C. , Oct. 17, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Energy Finance business has served as coordinating lead arranger on three battery storage project financings for Plus Power, collectively representing $672 million in financing and 700 megawatts (MW) of energy storage capacity.

First Citizens Bank Coordinates $672 Million in Financings for Plus Power on Three Battery Storage Projects

RALEIGH, N.C. , Oct. 17, 2023 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business served as lead arranger on acquisition financing for Nashville-based Encore Luxury Coaches, a leading provider of luxury entertainment travel.

First Citizens Bank Serves as Lead Arranger on Acquisition Financing for Encore Luxury Coaches

Coty

NIKE

There's an old saying on Wall Street that there are many reasons to sell a stock, but only one reason to buy: You think the price will go up. That saying is especially true when it comes to executives or board members buying up the stock of a company they manage or oversee.

Green Flags? 3 Stocks That Are Seeing Heavy Insider Buying Right Now.

First Citizens is still in the early days of stabilizing and integrating the former Silicon Valley Bank, and investors will likely be closely watching the SVB deposit numbers in Q3'23. SVB provides a virtually unique growth opportunity for First Citizens; not only was it a leader in banking to emerging tech-driven companies, but it also complements the deposit-hungry CIT operations. It's too soon to say whether the VCs, equity funds, and client companies who pulled their deposits and drove the collapse of SVB will come back to the bank.

It's Early, But The SVB Deal Still Looks Like A Winner For First Citizens BancShares

Analysts at Wedbush Securities initiated coverage of First Citizens with an Outperform rating and $1,700 price target. This follows a bullish initiation from J.P.

First Citizens Stock Gets a New Bull as Banks Face Headwinds

RALEIGH, N.C. , Oct. 4, 2023 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the third quarter ended Sept.

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

Investment pace remains stable as valuations reset SAN FRANCISCO , Oct. 4, 2023 /PRNewswire/ -- Despite ongoing public market headwinds, the healthtech sector is showing signs of resilience, according to the Future of Healthtech 2023 report from Silicon Valley Bank (SVB), a division of First Citizens Bank. In the first half of 2023, the sector saw the first positive public performance trends in over a year with stock trading up the first two quarters.

News for First Citizens BancShares Stock (FCNCA)