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FCNCA

First Citizens BancShares, Inc.

FCNCA

First Citizens BancShares, Inc. • NASDAQ
$1877.89 ▼ -0.52% (-9.86)
Market Cap $23.35 B
52w High $2412.93
52w Low $1473.62
Dividend Yield 8.40%
P/E 11.12
Volume 29.16K
Outstanding Shares 12.44M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.694B ▲ $1.488B ▼ $568M ▼ 15.376% ▼ $43.12 ▲ $842M ▼
Q2-2025 $3.623B ▲ $1.5B ▲ $575M ▲ 15.871% ▲ $42.36 ▲ $886M ▲
Q1-2025 $3.525B ▼ $1.488B ▼ $483M ▼ 13.702% ▼ $34.47 ▼ $744M ▼
Q4-2024 $3.689B ▼ $1.506B ▲ $700M ▲ 18.975% ▲ $49.21 ▲ $830M ▼
Q3-2024 $3.783B $1.451B $639M 16.891% $43.41 $915M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $38.9B ▲ $233.488B ▲ $211.502B ▲ $21.986B ▼
Q2-2025 $37.383B ▲ $229.653B ▲ $207.357B ▲ $22.296B ▲
Q1-2025 $35.056B ▼ $228.822B ▲ $206.527B ▲ $22.295B ▲
Q4-2024 $56.086B ▲ $223.72B ▲ $201.492B ▲ $22.228B ▼
Q3-2024 $54.692B $220.567B $197.739B $22.828B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $568M ▼ $916M ▲ $-3.801B ▼ $2.87B ▲ $-15M ▼ $1.008B ▲
Q2-2025 $575M ▲ $859M ▲ $-562M ▲ $-220M ▼ $77M ▲ $518M ▲
Q1-2025 $483M ▼ $98M ▼ $-4.877B ▼ $4.777B ▲ $-2M ▲ $-175M ▼
Q4-2024 $700M ▲ $1.119B ▲ $-3.744B ▼ $2.577B ▲ $-48M ▼ $678M ▲
Q3-2024 $639M $991M $-301M $-592M $98M $520M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Asset Management
Asset Management
 $50.00M ▲$160.00M ▲$60.00M ▼$60.00M ▲
Credit and Debit Card
Credit and Debit Card
 $40.00M ▲$120.00M ▲$40.00M ▼$40.00M ▲
Deposit Fees and Service Charges
Deposit Fees and Service Charges
 $0 ▲$0 ▲$60.00M ▲$60.00M ▲
Factoring Commissions
Factoring Commissions
 $20.00M ▲$60.00M ▲$20.00M ▼$20.00M ▲
Insurance Commissions
Insurance Commissions
 $10.00M ▲$40.00M ▲$10.00M ▼$10.00M ▲
International Fees
International Fees
 $30.00M ▲$90.00M ▲$30.00M ▼$30.00M ▲
Merchant Services
Merchant Services
 $10.00M ▲$40.00M ▲$10.00M ▼$10.00M ▲
Deposit Account
Deposit Account
 $40.00M ▲$0 ▼$0 ▲$0 ▲
Financial Service Other
Financial Service Other
 $80.00M ▲$0 ▼$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Earnings have transformed over the past few years, mainly because of the Silicon Valley Bank acquisition. Revenue and profit levels are now many times larger than they were before the deal, showing that the bank successfully absorbed a much bigger franchise. The spike in profit in the prior year looks unusually high and likely reflects one‑off benefits from the acquisition, while the latest year appears more “normal” and closer to a sustainable run‑rate. Margins are still healthy but not as extraordinary as during the immediate post‑deal period, suggesting a shift from windfall gains to steadier, core banking performance. Overall, the income statement tells a story of a bank that has scaled up quickly, with higher earnings power but also more moving parts and potential volatility than in the past.

Balance Sheet

Balance Sheet The balance sheet has more than doubled in size over a short time, again reflecting the SVB transaction and related growth. Total assets and customer balances are far higher than in the pre‑acquisition years, moving the bank from a mid‑sized regional player into the large‑bank category. Equity has increased meaningfully, which helps absorb shocks and supports future growth, though leverage is also higher than it used to be. Cash levels surged after the acquisition and have since stepped down but still sit comfortably above historical norms, indicating solid liquidity even after some normalization. The bigger scale brings benefits of diversification but also greater complexity, stricter regulation, and more attention on risk management across a much broader loan and deposit base.

Cash Flow

Cash Flow Core cash generation from operations has been consistently positive in recent years, a marked improvement from the choppy picture seen earlier in the period. Even after spending more on technology, systems, and physical infrastructure, the bank is still producing positive free cash flow, which suggests it can fund much of its own growth and modernization. Capital spending has clearly stepped up, consistent with a larger institution upgrading systems and integrating acquisitions. As with most banks, cash flows can swing from year to year due to balance‑sheet movements, but the overall direction points to stronger internal cash support for the expanded franchise.

Competitive Edge

Competitive Edge First Citizens now combines the profile of a traditional relationship‑focused regional bank with the specialized capabilities of Silicon Valley Bank in technology, life sciences, and venture capital. This creates a differentiated position: deep ties to high‑growth innovation sectors on one side, and a broad base of more conventional commercial and consumer banking on the other. The bank’s history of successful acquisitions is a strength, as it suggests it can handle large integrations and capture synergies over time. At the same time, serving start‑ups, venture funds, and innovation hubs introduces exposure to more cyclical and sentiment‑driven segments, which can be volatile in downturns or when funding markets tighten. The franchise is stronger and more unique than before, but it also depends heavily on maintaining trust with demanding clients and meeting higher regulatory and operational expectations.

Innovation and R&D

Innovation and R&D Innovation here is less about laboratory research and more about technology, data, and specialized financial products. The bank is investing in digital channels, mobile platforms, and user experience to meet the expectations of tech‑savvy clients it inherited from SVB. It is also rolling out AI‑based tools for fraud detection, credit risk analysis, and service automation, which can improve efficiency and risk control if executed well. Core systems upgrades, cloud adoption, and stronger cybersecurity are all aimed at making the bank more scalable and resilient as it grows. On the product side, tailored solutions for start‑ups, venture‑backed companies, and high‑net‑worth clients—such as venture lending, sophisticated treasury services, and expanded private investment offerings—are central to building a durable moat around the innovation and wealth segments.

Summary

First Citizens has undergone a step‑change from a solid regional institution to a much larger, more complex bank with a distinctive niche in the innovation economy. Financially, revenue and earnings power are far higher than they were a few years ago, though the standout profits immediately after the SVB deal appear partly one‑off and have since moderated to a more realistic level. The balance sheet and cash flows show a bank that has scaled up, strengthened its capital base, invested heavily in integration and technology, and still generates healthy cash after those investments. Its competitive edge now rests on blending conservative relationship banking with specialized services for technology, life sciences, venture capital, and affluent clients. Key uncertainties revolve around fully integrating SVB, managing risk in more volatile innovation sectors, and sustaining digital and product innovation fast enough to keep demanding clients engaged while meeting the stricter oversight that comes with its new size.

NEWS

November 20, 2025 · 9:00 AM UTC

First Citizens Names Snow Holding Middle Market Banking Leader for Northeastern United States

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November 19, 2025 · 9:00 AM UTC

First Citizens Bank Purchases Office Building in San Francisco

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November 18, 2025 · 9:00 AM UTC

Silicon Valley Bank Appoints Megan Scheffel Head of Life Science and Healthcare Banking

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November 13, 2025 · 5:22 PM UTC

Peregrine Energy Solutions Secures Funding to support a $317 Million Battery Energy Storage Project Currently Under Construction

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November 12, 2025 · 8:30 AM UTC

First Citizens Wealth Expands California Bay Area Team, Appoints Lee Erby Region Head

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