Recent Updates — FCNCA

First Citizens BancShares reported third-quarter 2026 earnings with basic and diluted EPS of $51.23, down from $55.52 in the prior year period but exceeding internal expectations. Net income available to common stockholders was $577 million, compared to $640 million in Q2 2026. The company returned $600 million to shareholders through share repurchases during the quarter and announced a new authorization to repurchase up to $1.2 billion of Class A common shares beginning in 2027. Adjusted EPS was $55.37, with an adjusted return on equity of 12.24% and a net interest margin of 3.07%. The bank also prepaid $8 billion of its FDIC Purchase Money Note during the quarter. First Citizens BancShares operates as a diversified financial services holding company providing commercial banking, wealth management, and leasing services.

First Citizens BancShares filed a Certificate of Designation establishing its new 7.500% Non-Cumulative Perpetual Preferred Stock, Series F, with a $100,000 liquidation preference per share. The company closed a public offering on September 14, 2026, selling 300,000 depositary shares, each representing a 1/100th interest in one share of the Series F Preferred Stock. Dividends accrue at 7.500% annually until September 15, 2031, after which they reset to the five-year treasury rate plus 2.894%. The securities rank pari passu with existing preferred series and senior to common stock. First Citizens BancShares operates as a bank holding company providing financial services through its subsidiary banks.