First Citizens BancShares Reports First Quarter 2026 Earnings

About this update from First Citizens Bancshares, Inc.

RALEIGH, N.C., April 23, 2026 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (Nasdaq: FCNCA) reported earnings for the first quarter of 2026. Chairman and CEO Frank B. Holding, Jr. said: "We are pleased with our first quarter results highlighted by loan and deposit growth, resilient credit quality, and return metrics exceeding our expectations. During the quarter, we returned an additional $900 million of capital to our stockholders through share repurchases, and prepaid $2.50 billion of the Purchase Money Note. Capital and liquidity positions remain strong."FINANCIAL HIGHLIGHTS Measures referenced below "as adjusted" or "excluding PAA" (or purchase accounting accretion) are non-GAAP financial measures. Refer to the Financial Supplement available at ir.firstcitizens.com or www.sec.gov for a reconciliation of each non-GAAP measure to the most directly comparable GAAP measure.Net income for the first quarter of 2026 ("current quarter") was $534 million, compared to $580 million for the fourth quarter of 2025 ("linked quarter"). Net income available to common stockholders for the current quarter was $508 million, or $42.63 per common share, a $58 million decrease from $566 million, or $45.81 per common share, in the linked quarter.Adjusted net income for the current quarter was $560 million, compared to $648 million for the linked quarter. Adjusted net income available to common stockholders was $534 million, or $44.86 per common share, a $100 million decrease from $634 million, or $51.27 per common share, in the linked quarter.NET INTEREST INCOME AND MARGINNet interest income was $1.62 billion for the current quarter, a decrease of $101 million from the linked quarter. Net interest income, excluding PAA, was $1.58 billion, a decrease of $91 million from the linked quarter.Interest income on loans decreased $84 million and, excluding loan PAA, decreased $73 million, mainly due to a decline in yield and an $11 million decrease in loan PAA, partially offset by the impact of a higher average balance.Interest income on investment securities decreased $40 million due to decreases in the average balance and yield.Interest income on interest-earning deposits at banks decreased $30 million due to a lower average balance and a decline in yield.Interest expense on interest-bearing deposits decreased $28 million due to a lower rate paid, partially offse...

View stock analysis, news, and events for First Citizens Bancshares, Inc.