Recent Updates — FCNCO

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.

First Citizens BancShares completed its acquisition of 138 branches from BMO Bank N.A., effective September 4, 2026. The transaction added approximately $5 billion in deposits and $650 million in loans to the bank's balance sheet. This expansion brings First Citizens' total branch network to over 600 locations nationwide, strengthening its presence in the Midwest, Great Plains, and West regions. The company appointed new regional leadership to manage the expanded footprint and committed approximately $1 million in community investments for 2026 and 2027. First Citizens BancShares operates as a diversified financial services holding company providing banking, wealth management, and commercial lending services.

First Citizens BancShares reported second quarter 2026 net income of $672 million, or $55.52 per common share, increasing from $534 million in the first quarter. Net interest income rose to $1.66 billion, up $35 million sequentially, while net interest margin was 3.10%. The company repurchased $600 million of Class A common stock during the quarter and prepaid $2.5 billion of its Purchase Money Note. Total deposits reached $173.43 billion, a 1.5% increase from the previous quarter. The company also noted progress on its pending acquisition of 138 BMO Bank N.A. branches, expected to close in the third quarter of 2026. First Citizens BancShares is a financial holding company providing banking, commercial lending, and investment services.