First Citizens BancShares, Inc.'s Stock Analysis

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

David G. Leitch Appointed to First Citizens BancShares Board of Directors

David G. Leitch, a distinguished leader and former Bank of America Corp. executive, has been appointed to the board of directors of First Citizens BancShares, bringing extensive legal and banking industry knowledge. His appointment is expected to provide valuable insight and perspectives to help the bank navigate the financial landscape. First Citizens BancShares is a top 20 U.S. financial institution with over $200 billion in assets, offering general banking services and commercial banking expertise across 30 states.

Dec 15, 2023 08:31:52

First Citizens BancShares, Inc. Financial Report Summary

First Citizens BancShares, Inc. has released its financial report, meeting the requirements of the Securities Exchange Act of 1934. The report has been duly signed by Craig L. Nix, indicating its authenticity and compliance with regulations.

Nov 27, 2023 16:46:05

First Citizens BancShares Reports Solid Q3 2023 Earnings

First Citizens BancShares reported solid financial results for the third quarter of 2023, with strong revenue growth and disciplined expense management. The company made progress in its integration efforts with SVB and remains focused on managing credit risk prudently. The acquisition of Silicon Valley Bridge Bank from the FDIC included total assets with estimated fair values of approximately $107.54 billion and total loans with estimated fair values of approximately $68.47 billion. Net income for the third quarter was $752 million, and net interest income totaled $1.99 billion. Noninterest income decreased to $615 million, and noninterest expense decreased to $1.42 billion.

Oct 26, 2023 06:33:34