10-K · February 24, 2026
First Citizens positions itself as a relationship-focused regional bank pursuing both organic growth and M&A (notably the pending BMO Branch Acquisition), while prioritizing balance sheet optimization, operational…
Earnings analysis · 10-Q
FCNCA earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
First Citizens BancShares reported strong results for Q1 2026, with revenue of $2.31B and diluted EPS of $44.86, surpassing estimates and showing growth compared to prior periods. The significant increase in EPS (up…
Read full summary
First Citizens BancShares reported strong results for Q1 2026, with revenue of $2.31B and diluted EPS of $44.86, surpassing estimates and showing growth compared to prior periods. The significant increase in EPS (up 30.03% from $34.47 in Q1 2025) highlights improved profitability despite the challenges faced in the banking sector.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $44.86
What stood out
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Revenue Exceeds Estimates
Actual revenue was $2.312B, beating the estimate of $2.192B by 5.49%.
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Significant EPS Beat
Diluted EPS was reported at $44.86, exceeding the estimated $39.20 by 14.44%.
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Improved Cash Flow
A return to positive free cash flow with $900M in share repurchases after previous negative cash flows.
What to watch
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Concerns About Higher Provisions
Potential higher loan loss provisions could impact profitability, given recent economic uncertainties.
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Increased Nonaccrual Loans
Higher levels of nonaccrual loans may indicate underlying credit quality issues.
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Potential Ongoing Free Cash Flow Volatility
Despite recent improvements, the previous quarter saw negative free cash flow of $112M.
Management's outlook
Management expressed a cautious optimism for continued growth but did not provide explicit numeric guidance for future EPS or revenue.
Earlier filings 4
10-Q · August 8, 2025
First Citizens reported Q2 2025 diluted EPS of $42.36 and net income of $575 million, down from $47.54 and $707 million in Q2 2024. Net interest income declined to $1,695 million while noninterest income rose to $678…
10-K · February 21, 2025
First Citizens describes a client‑focused, acquisition‑and‑organic growth strategy emphasizing balance sheet optimization, operational efficiency, and talent/culture alignment. Core net interest income grew to $7,143…
10-Q · November 7, 2024
First Citizens’ Q3 results show revenue of $3,788 million (total interest income $3,138M + noninterest income $650M) while net income fell to $639 million and diluted EPS declined to $43.42 from $50.67 a year ago. Net…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.