First Citizens BancShares, Inc. functions as the parent company for First-Citizens Bank & Trust Company, offering a comprehensive array of retail and commercial banking solutions to individuals, businesses, and professionals. The institution's deposit offerings include checking, savings, money market, and certificate of deposit accounts. Its lending portfolio features commercial construction and land development loans, commercial mortgages, commercial and industrial financing, lease financing, and Small Business Administration Paycheck Protection Program loans. On the consumer side, it provides residential and revolving mortgages, construction and land development loans for consumers, auto loans, and other personal credit products. The company also furnishes treasury management services, cardholder and merchant processing, wealth management, and various other specialized products. Investment opportunities extend to annuities, discount brokerage services, third-party mutual funds, and bespoke investment management and advisory services. Additionally, it offers defined benefit and defined contribution plans, insurance, private banking, trust and fiduciary services, philanthropic guidance, and special asset management. These services are delivered through its widespread branch network, alongside digital banking platforms, telephone banking, and an extensive ATM network. As of December 31, 2021, First Citizens BancShares, Inc. operated 529 branches across Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, North Carolina, New Mexico, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington, Wisconsin, and West Virginia. The company, founded in 1898, is headquartered in Raleigh, North Carolina.
First Citizens BancShares Reports Third Quarter 2026 Earnings, Announces Additional Share Repurchase Plan
First Citizens BancShares reported Q3 2026 net income of $606 million with EPS of $51.23, down from $55.52 in the linked quarter, while net interest income rose $43 million to $1.70 billion.
Balance-sheet momentum was strong: loans grew 4.1% to $157.19 billion and deposits grew 6.8% to $185.26 billion, aided by the completed acquisition of 138 BMO branches with roughly $4.9 billion in deposits. The company also repaid another $8.0 billion of the Purchase Money Note, cutting it to $20.45 billion.
Capital return stepped up with $600 million of Q3 buybacks and a new Board-approved repurchase plan of up to $1.2 billion through 2027. Credit quality remained resilient, with net charge-offs of 0.27% and nonaccrual loans down to 0.87% of loans.