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FCNCP

First Citizens BancShares, Inc.

FCNCP

First Citizens BancShares, Inc. • NASDAQ
$21.67 ▼ -0.89% (-0.19)
Market Cap $23.59 B
52w High $23.80
52w Low $19.30
Dividend Yield 1.34%
P/E 0.38
Volume 3.75K
Outstanding Shares 1.09B

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 Q1-2024Q2-2024Q3-2024Q4-2024
Asset Management
Asset Management
 $50.00M ▲$50.00M ▲$50.00M ▲$160.00M ▲
Credit and Debit Card
Credit and Debit Card
 $40.00M ▲$40.00M ▲$40.00M ▲$120.00M ▲
Factoring Commissions
Factoring Commissions
 $20.00M ▲$20.00M ▲$20.00M ▲$60.00M ▲
Insurance Commissions
Insurance Commissions
 $10.00M ▲$10.00M ▲$10.00M ▲$40.00M ▲
International Fees
International Fees
 $30.00M ▲$30.00M ▲$30.00M ▲$90.00M ▲
Merchant Services
Merchant Services
 $10.00M ▲$10.00M ▲$10.00M ▲$40.00M ▲
Deposit Account
Deposit Account
 $40.00M ▲$40.00M ▲$40.00M ▲$0 ▼
Financial Service Other
Financial Service Other
 $70.00M ▲$80.00M ▲$80.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement First Citizens has gone from being a mid‑sized regional bank to a much larger, more complex institution in just a few years. Revenue has climbed sharply, especially after the Silicon Valley Bank acquisition, and profits are clearly higher than before the deal. However, the earnings pattern is uneven. The year following the acquisition shows extremely elevated profit levels that likely include one‑time gains, while the most recent year looks more “normal,” though still much stronger than pre‑acquisition. Overall profitability appears healthy, but the recent past includes big, non‑recurring boosts, so the long‑term earnings power is still settling out.

Balance Sheet

Balance Sheet The balance sheet has expanded dramatically, with total assets now several times larger than they were only a few years ago. Capital (equity) has grown along with those assets, so the bank has a thicker financial cushion than in the past. Debt levels have also risen meaningfully, reflecting the larger, more wholesale‑funded structure of the combined bank. Cash reserves spiked right after the transaction and have since come down, suggesting an initial focus on liquidity followed by a return to a more typical stance. Overall, the bank is bigger, more leveraged than before, but also better capitalized, with a balance sheet still in transition as the integration continues.

Cash Flow

Cash Flow Underlying cash generation looks solid and more consistent than the headline earnings swings might suggest. Operating cash flow has been positive and relatively steady in recent years, indicating that the core banking engine is producing dependable cash. Free cash flow has also been positive, even as the bank has stepped up its investment spending. Capital expenditure is higher than it used to be, but still modest relative to the size of the institution, and it appears focused on systems, technology, and integration rather than heavy physical build‑out. Taken together, cash flows point to a business that can fund its own growth and transformation without obvious strain.

Competitive Edge

Competitive Edge The acquisition of Silicon Valley Bank has fundamentally changed First Citizens’ competitive position. It now combines a century‑old, relationship‑driven regional bank with a specialized franchise serving venture capital, technology, life sciences, and other innovation‑focused clients. This gives it deep reach into a niche that is hard for traditional banks to replicate quickly, thanks to specialized products, industry know‑how, and long‑standing networks. At the same time, this focus creates greater exposure to highly cyclical, confidence‑sensitive sectors. The bank’s history of successful acquisitions and its diversified business segments are clear strengths, but it now competes in both traditional regional banking and the much more volatile innovation economy, which adds complexity and risk.

Innovation and R&D

Innovation and R&D Innovation at First Citizens is now a blend of modern digital banking, specialized SVB platforms, and a growing global technology backbone. The bank is investing in advanced online and mobile tools, integrating SVB’s tailored systems for venture and fund clients, and building out a large capability center in India to support technology, cybersecurity, and operations. It is also leaning into data and analytics to better understand clients and manage risk. The big watchpoints are execution and culture: successfully merging systems, processes, and ways of working from two very different banking worlds will be critical. If done well, the result is a more agile, tech‑enabled bank with distinctive capabilities; if done poorly, it could mean operational friction and customer churn.

Summary

First Citizens today is not the same bank it was a few years ago. It has scaled up rapidly, boosted revenues and profits, and stepped into a unique position serving both traditional customers and the innovation economy. The financial statements show strong growth and solid cash generation, but also significant one‑time effects and a business model that is still normalizing after a transformative deal. The balance sheet is much larger, with higher leverage but also stronger capital. Strategically, the combination of conservative, long‑tenured banking roots with specialized SVB expertise and modern technology investments creates real opportunities, but also exposes the bank to integration challenges and more volatile end markets. The key question going forward is how smoothly it converts this one‑off transformation into stable, repeatable earnings and risk‑controlled growth over time.