First Citizens BancShares, Inc.'s Stock Analysis

First Citizens BancShares Issues New Series E Preferred Stock

First Citizens BancShares, Inc. has established a new series of preferred stock, named the 6.625% Non-Cumulative Perpetual Preferred Stock, Series E, which has a par value of $0.01 per share and a liquidation preference of $1,000 per share. The company will sell 16,000,000 depositary shares, each representing a 1/40th ownership interest in the Series E Preferred Stock, under an underwriting agreement with major financial institutions. Dividends on the Series E Preferred Stock will be paid quarterly, starting June 15, 2026, and will accrue at a rate of 6.625% per annum until March 15, 2031, after which the rate will adjust based on the five-year treasury rate plus an additional percentage. The Series E Preferred Stock will rank equally with certain existing preferred stocks regarding dividends and liquidation rights, while being senior to common stock and other junior securities.

The Series E Preferred Stock does not have a maturity date and can be redeemed by the company under specific conditions. Holders of this stock will not have voting rights except in certain circumstances, such as when dividends are not paid for an extended period. Upon liquidation, holders will receive $1,000 per share plus any unpaid dividends before any distributions to common stockholders. The offering of the depositary shares and the preferred stock has been registered under federal securities regulations, and the company has filed necessary documents to comply with regulatory requirements.

Feb 05, 2026 16:13:11

First Citizens BancShares Reports Fourth Quarter 2025 Financial Results

First Citizens BancShares, Inc. reported a net income of $580 million for the fourth quarter of 2025, reflecting an increase from the previous quarter's $568 million. The earnings per common share rose to $45.81 from $43.08 in the linked quarter. The company achieved strong loan growth, particularly in Global Fund Banking, and returned $900 million to shareholders through share repurchases. The capital and liquidity positions remain robust, with total risk-based capital ratios well above regulatory requirements.

The company announced a planned acquisition of 138 branches from BMO Bank N.A., which is expected to close in the second half of 2026, involving $5.7 billion in deposits and $1.1 billion in loans. However, total deposits decreased by 1% to $161.58 billion, influenced by seasonal outflows and shifts to off-balance sheet client funds. Noninterest income increased to $715 million, while noninterest expenses rose to $1.57 billion, attributed to higher personnel costs and technology-related projects. The provision for credit losses decreased significantly to $54 million, indicating improved credit quality.

Jan 23, 2026 06:33:49

First Citizens BancShares Announces Executive Transition in Risk Management

Lorie K. Rupp, Chief Risk Officer of First Citizens BancShares, has announced her retirement effective June 1, 2026, after a 13-year tenure at the bank. Tom Eklund, currently serving as Treasurer and a veteran of 20 years at First Citizens, is set to succeed her. This transition aims to ensure continuity in the company’s risk management framework, which has been crucial during a period of significant growth for the bank.

Rupp has played a vital role in enhancing the company’s risk management practices since becoming Chief Risk Officer in 2017. Eklund will oversee financial, credit, enterprise, operational, and compliance risk as part of his new role. The management believes Eklund's extensive experience in capital and liquidity risk management will support the bank's strategic objectives and maintain its commitment to robust risk governance.

Jan 14, 2026 16:54:00

First Citizens BancShares Issues New Series D Preferred Stock

First Citizens BancShares, Inc. has established a new series of preferred stock, known as the '7.000% Non-Cumulative Perpetual Preferred Stock, Series D'. This stock has a par value of $0.01 per share and a liquidation preference of $100,000 per share. The company will sell 500,000 depositary shares, each representing a 1/100th ownership interest in the Series D Preferred Stock. Dividends on this stock will be paid quarterly, starting March 15, 2026, at a rate of 7.000% until December 15, 2030, after which the rate will adjust based on the five-year treasury rate plus a spread of 3.301%. The Series D Preferred Stock ranks equally with certain existing preferred stocks and is senior to common stock in terms of dividends and liquidation rights.

The Series D Preferred Stock does not have a maturity date, and the company is not obligated to redeem it. However, it can be redeemed at the company's discretion starting December 15, 2030, or within 90 days following a Regulatory Capital Treatment Event. Holders of the Series D Preferred Stock will have limited voting rights and can elect two directors if dividends are not paid in full for 18 months. In case of liquidation, holders will receive the liquidation preference amount plus any unpaid dividends before any distributions to common stockholders. The terms of this preferred stock are detailed in a Certificate of Designation filed with the state of Delaware.

Nov 18, 2025 16:09:19

First Citizens BancShares Reports Third Quarter 2025 Financial Results

First Citizens BancShares, Inc. reported net income of $568 million for the third quarter of 2025, slightly down from $575 million in the previous quarter. The bank's net interest income increased to $1.73 billion, driven by growth in loan balances, while noninterest income also saw a rise to $699 million. The company maintained a stable net interest margin of 3.26% and experienced a 2.5% increase in loans, totaling $144.76 billion. Deposits also grew by 2.0% to $163.19 billion, reflecting strong performance in various segments.

The bank announced plans to acquire 138 branches from BMO Bank, which will add approximately $5.7 billion in deposit liabilities and $1.1 billion in loans. Capital ratios remained robust, with total risk-based capital at 14.05%, and the company returned $900 million to shareholders through share repurchases during the quarter. The provision for credit losses increased to $191 million, primarily due to higher net charge-offs, while the allowance for loan and lease losses decreased slightly to $1.65 billion, indicating a mixed outlook on credit quality.

Oct 23, 2025 06:32:28

First Citizens BancShares Announces Acquisition of BMO Branches

First Citizens Bank has entered into an agreement to acquire 138 branches from BMO Bank N.A., located across the Midwest, Great Plains, and West regions of the United States. This acquisition involves approximately $5.7 billion in deposit liabilities and $1.1 billion in loans, with the transaction expected to close in mid-2026, pending regulatory approvals and customary closing conditions. The move is part of First Citizens' strategy to expand its presence in new markets and enhance its liquidity position.

The acquisition is projected to provide First Citizens Bank with approximately $4.6 billion in net liquidity, improving its funding base and financial flexibility. The deal is expected to be immediately accretive to earnings per share and aims to strengthen the company's balance sheet by optimizing its loan-to-deposit ratio. The transaction also highlights First Citizens' commitment to maintaining a solid deposit base and high-quality loan portfolio while continuing its national expansion efforts.

Oct 16, 2025 06:36:47

First Citizens BancShares Issues $600 Million in Subordinated Notes

First Citizens BancShares, Inc. has successfully issued and sold $600 million in 5.600% Fixed Rate Reset Subordinated Notes due in 2035. This public offering was conducted under a registration statement filed with the SEC and was executed through an underwriting agreement with BofA Securities, Inc. and Morgan Stanley & Co. LLC as underwriters.

The Notes were issued in accordance with a subordinated base indenture established in March 2020, supplemented by a third supplemental indenture dated September 5, 2025. This report includes the necessary documents related to the offering, which are incorporated by reference into the registration statement.

Sep 05, 2025 17:08:53

First Citizens BancShares Reports Q2 2025 Earnings and Buyback Plan

First Citizens BancShares announced its financial results for the second quarter of 2025, reporting a net income of $575 million, which reflects an increase from $483 million in the prior quarter. The company also highlighted a rise in net interest income to $1.70 billion and a growth in noninterest income to $678 million. Additionally, the firm reported a slight decline in loans and leases, totaling $141.27 billion, while deposits increased to $159.94 billion. The capital ratios remain above regulatory requirements, indicating a solid financial foundation.

Furthermore, the Board of Directors approved a new share repurchase program allowing for the buyback of up to $4.0 billion in Class A common stock, which will commence after the completion of a previous $3.5 billion program. During the current quarter, the company repurchased approximately 339,000 shares for $613 million. The liquidity position remains robust, with liquid assets of $63.62 billion as of June 30, 2025. The company plans to discuss these results in a conference call on July 25, 2025.

Jul 25, 2025 06:35:17

Diane Morais Joins First Citizens BancShares Board of Directors

Diane Morais has been appointed to the board of directors of First Citizens BancShares, Inc. and its subsidiary, First-Citizens Bank & Trust Company, effective July 1, 2025. With over 30 years in the financial services sector, Morais previously held leadership roles at Ally Bank, where she was instrumental in its brand creation and served as President of Consumer and Commercial Banking until her retirement in 2024. Her extensive experience includes oversight of various financial services, including deposits, online brokerage, mortgage, and credit card businesses.

Morais also brings experience from her 12 years at Bank of America and nine years at Citibank, where she held senior roles in marketing, risk, and finance. As a member of the board, she will serve on the Joint Risk Committee and Joint Technology Committee. Morais has been recognized in American Banker Magazine’s list of the 25 Most Powerful Women in Banking and has received several accolades for her contributions to the industry and community involvement.

Jun 26, 2025 16:22:40

Matt Snow Joins First Citizens BancShares Board of Directors

First Citizens BancShares has appointed Matt Snow to its board of directors, effective January 2, 2025. Snow brings over 30 years of experience in accounting, having led Forvis Mazars and previously worked with Dixon Hughes Goodman and KPMG. His background in auditing and finance is expected to provide valuable insights to the board, particularly in his roles on the joint audit committee and the trust committee of First Citizens Bank.

While the appointment of Snow is a positive development for First Citizens BancShares, there is a notable transition period as he prepares to retire from Forvis Mazars in May 2025. This change may present challenges as he balances his new responsibilities with the conclusion of his previous commitments. Additionally, the company operates in a competitive financial landscape, which may impact its growth and stability moving forward.

Dec 16, 2024 16:34:12