First Citizens BancShares, Inc. (FCNCA) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

We will also reference non-GAAP financial measures. Reconciliations of these measures against the most directly comparable GAAP measures can be found in Section 5 of the presentation. Finally, First Citizens is not responsible for and does not edit nor guarantee the accuracy of earnings transcripts provided by third parties. I will now turn it over to Frank. Thank you, Deanna. Good morning and welcome, everyone. Thank you for joining us for our fourth quarter earnings call. And we'll start by highlighting our overall performance for the quarter and provide comments on our strategic priorities for 2026. Then I will turn it over to Craig to take you through our financial results and outlook for 2026. Starting on page five, the fourth quarter was a continuation of what was a successful year for First Citizens in 2025. This morning, we reported adjusted earnings per share of $51.27, an adjusted ROE of 11.93%, and an adjusted ROA of 1.1%. Despite the headwinds of lower rates, these earnings metrics exceeded our expectations marked by resilient net interest income and stable credit quality. Before I highlight our balance sheet performance, I'd like to point out that we made a change in our operating segment reporting during the quarter. Previously, we reported SBV commercial as a separate operating segment. In the fourth quarter, it was consolidated into the commercial bank segment. Now, despite this change in reporting, we remain committed to the innovation economy, and we will continue to report key metrics like loans, deposits, off-balance sheet, client funds at the SBB commercial level. Compared to the linked quarter, loans were up $3.2 billion, or by 2.2%, driven mostly by our global fund banking business within SBB Commercial due to strong production and increased li...