What is the revenue and EPS growth rate for First Citizens pref C year over year?

What factors drove the changes in First Citizens pref C's revenue and profit?

What is the market's earnings forecast for First Citizens pref C next quarter?

What is First Citizens pref C's gross profit margin?

What were the key takeaways from First Citizens pref C’s earnings call?

What does First Citizens pref C do and what are its main business segments?

What guidance did First Citizens pref C's management provide for the next earnings period?

Did First Citizens pref C beat or miss consensus estimates last quarter?

- **Record Financials**: Q3 EPS of $44.62, ROE 10.62%, with 2.3% NII growth and stable NIM. 
- **Strategic Expansion**: 138-branch acquisition to enhance deposit liquidity and market reach. 
- **AI-Driven Growth**: $3.5B data center lending portfolio fueled by AI infrastructure demand. 
- **Shareholder Returns**: $900M Q3 share repurchases, CET1 at 11.65%. 
- **Credit Resilience**: Allowance ratio 1.14%, 4.5% decline in criticized assets. 
- **2026 Outlook**: NII trough in Q1, cautious on SVB Commercial utilization variability. 


**【CEO Summary Section】**
- **Strong Financial Performance**: Q3 adjusted EPS of $44.62, ROE of 10.62%, and ROA of 1.01%. Net interest income grew 2.3% sequentially, with stable NIM at 3.26%. 
- **Loan Growth**: 2.5% sequential increase, driven by SVB Commercial (10% growth in Global Fund Banking loans). Deposits rose $3.3 billion (2% sequential), marking 7th consecutive quarter of growth. 
- **Share Repurchases**: Returned $900 million to shareholders, with $4 billion repurchased since July 2024. CET1 ratio at 11.65%. 
- **Strategic Expansion**: Announced 138-branch acquisition from BMO, enhancing deposit liquidity and market reach. 
- **Focus Areas**: Client relationship deepening, operational efficiency, and capital resilience. 

**【CFO Financial Commentary】**
- **Revenue and Margin**: Headline NII up 2.3% sequentially, NIM stable at 3.26%. Noninterest income increased 1% due to asset sales and client fees. 
- **Credit Metrics**: Net charge-offs at 65 basis points (including $82M First Brands loss), allowance ratio 1.14%. 
- **Expense Control**: Adjusted noninterest expense at low end of guidance, up 0.5% sequentially. 
- **Balance Sheet Growth**: Loans $143B-$146B for Q4, deposits $161B-$165B, with cautious outlook for SVB Commercial. 
- **Capital Management**: Q4 share repurchases near $900M, targeting CET1 10.5%-11%. 

**【Q&A Highlights】**
- **NII Outlook**: Trough expected in Q1 2026, with potential for NIM stabilization post-purchase money note repayment. 
- **Loan Growth Cautiousness**: SVB Commercial utilization variability may limit Q4 growth, despite strong pipeline. 
- **AI Impact**: Data center lending ($3.5B) driven by AI demand, contributing to infrastructure financing growth. 
- **Expense Moderation**: Category 3 readiness costs to moderate in 2026, with tech investments supporting scalability. 
- **Credit Quality**: Stable with 4.5% decline in criticized assets, though cautious on CRE stress. 
- **M&A Strategy**: No immediate plans beyond BMO, but open to accretive opportunities post-Category 3 readiness. 


First Citizens BancShares, Inc. (FCNCA) Q3 2025 Earnings Call Transcript

- **Strong Financial Performance**: Adjusted EPS of $44.78 and 11.00% ROE reflect solid profitability, with $613M in shareholder returns.
- **Strategic Momentum**: Progress in platform consolidation and client engagement, supported by new Board member Diane Morais.
- **NIM Stability**: Ex-accretion NIM up 2 bps to 3.14%, with cautious outlook on rate cuts and trough in Q1 2026.
- **SVB Pipeline Strength**: $9.5B Global Fund Banking pipeline offsets near-term loan growth challenges.
- **Capital Management**: $4B share repurchase plan to manage CET1 ratio, with focus on core deposit growth.

**【CEO Summary Section】**
- Reported adjusted EPS of $44.78, ROE of 11.00%, and ROA of 1.07% for Q2 2025.
- Maintained strong capital position, returning $613 million to shareholders via share repurchases.
- Highlighted progress on 2025 strategic priorities, including platform consolidation and client relationship deepening.
- Appointed Diane Morais to the Board, leveraging her expertise in consumer and commercial banking.
- Acknowledged macroeconomic uncertainties but expressed optimism about future growth opportunities.

**【CFO Financial Commentary】**
- Adjusted net income of $607 million exceeded expectations, driven by net interest income growth and lower credit costs.
- Tangible book value per share increased 10.4% year-over-year, benefiting from AFS portfolio improvements.
- Net interest margin (NIM) ex accretion rose 2 bps to 3.14%, with cautious outlook on further rate cuts.
- Noninterest income grew 7.2% due to customer derivative gains and rail business performance.
- Adjusted noninterest expense remained flat sequentially, with plans for modest increases in Q3.
- Loans declined modestly to $143.1 billion, with growth in General and Commercial Bank segments.
- Deposits rose 0.4% to $159.4 billion, driven by Direct Bank growth and SVB Commercial inflows.
- Credit quality stable, with net charge-offs at 35 bps, below guidance range.
- Board approved $4 billion share repurchase plan for 2026, targeting CET1 ratio of 10.5%-11%.

**【Q&A Highlights】**
- **Loan Growth Outlook**: SVB pipeline of $9.5 billion reflects cautious optimism, with idiosyncratic prepayments impacting Q2 growth.
- **FDIC Note Management**: Plans to use core deposits and FHLB capacity to reduce purchase money note, contingent on rate environment.
- **SVB Business Trends**: Global Fund Banking pipeline strength offsets near-term utilization challenges; cautious on IPO activity despite recent successes.
- **Competitive Pressures**: Deposit beta management and disciplined loan pricing maintained margin stability; General Bank facing fierce competition.
- **Railcar Business**: 96.9% utilization and 15th consecutive quarter of repricing growth support long-term runway.
- **NIM/NII Trough**: Anticipates NIM trough in Q1 2026, depending on 0-2 rate cuts; NII guidance tightened to $6.68-6.88 billion for 2025.

First Citizens BancShares, Inc.(FCNCA) Q2 2025 Earnings Conference Call Transcript

- **Strong Q1 Results**: EPS $37.79, loan/deposit growth 0.8%/2.6%, net charge-offs stable at 41bps.
- **Capital Return Focus**: $613M share buybacks, CET1 target 10.5%-11% by mid-2026.
- **Rate Cut Impact**: NII expected to trough in Q1 2026, 2025 NII guidance $6.55B-$6.95B.
- **Credit Resilience**: No material impact from tariffs yet, diversified portfolio mitigates risk.
- **Growth Drivers**: Tech/Healthcare lending (+$733M), SVB Commercial (+$440M), Direct Bank deposits (+$3.1B).


**【CEO Opening Remarks】**
- Adjusted EPS of $37.79, aligned with guidance.
- Loan growth of $1.1 billion (0.8% QoQ) driven by Commercial Bank (+$733M) and SVB Commercial (+$440M).
- Deposit growth of $4.1 billion (2.6% QoQ), with Direct Bank contributing $3.1 billion.
- Net charge-offs at 41bps, below guidance range.
- $613M share repurchases, total $2.3B since inception.
- Terminated FDIC loss share agreement, reflecting confidence in SVB portfolio quality.

**【CFO Financial Details】**
- Net interest income down QoQ due to lower loan yields and accretion income.
- Non-interest income declined by $18M, driven by derivative valuation losses and asset write-downs.
- Non-interest expense up 1% QoQ, with personnel (+$15M) and marketing (+$6M) offsetting other savings.
- CET1 capital ratio 12.19%, target 10.5%-11% by Q1 2026 via share buybacks.
- 2025 loan guidance $144B-$147B, deposit guidance $163B-$168B.

**【Q&A Key Takeaways】**
- **Share Repurchases**: Plan to complete $3.5B buyback by end-2025, no acceleration despite lower valuation.
- **Credit Risk**: Monitoring textile, retail, auto portfolios for tariff impacts, no material behavior changes yet.
- **Rate Cuts**: Expect NII trough in Q1 2026, 2025 NII guidance $6.55B-$6.95B.
- **M&A Appetite**: Long-term growth strategy remains, but focus on capital returns in 2025.
- **Funding Strategy**: Target core deposits 90%+ of funding mix, issued $1.25B debt in Q1.
- **Growth Drivers**: Tech/Healthcare lending, Global Fund Banking pipeline, Direct Bank deposit elasticity.


First Citizens BancShares (FCNCA)-24 Apr 25-2025 Q1 Earnings call transcript

- **Q4 Beat**: Adjusted EPS $45.10 vs expectations, with all segments growing loans/deposits.
- **SVB Momentum**: Q4 loans +$342M, deposits +$692M, despite muted VC activity.
- **2025 Outlook**: NII $6.6B-$7B (0-4 rate cuts), targeting 10.5%-11% CET1 by year-end.
- **Share Buybacks**: $1.8B repurchased (6.44%), with potential new plan H2-2025.
- **Credit Stability**: Allowance ratio stable at 1.2%, no emerging risks beyond known portfolios.
- **Efficiency Goal**: Mid-50s ratio long-term, but 2025 in upper 50s due to rate/tech headwinds.

**【CEO Opening Remarks】**
- **Q4 2024 Performance**: Adjusted EPS of $45.10 exceeded expectations, driven by higher core PPNR. All operating segments achieved loan and deposit growth.
- **SVB Performance**: Q4 loans up sequentially and YoY despite muted VC activity. Deposits grew on both period-end and average bases, with Tech/Healthcare leading client fund inflows.
- **2025 Strategic Priorities**: 
  1. Expand capabilities in CIT/SVB strategic markets
  2. Invest in talent and operational efficiency
  3. Optimize balance sheet through deposit remix and share buybacks
  4. Maintain prudent risk management amid regulatory evolution
- **Share Repurchases**: 6.44% of Class A shares repurchased since inception, totaling $1.8B.

**【CFO Financial Review】**
- **Net Interest Income (NII)**: Headline NII down Q/Q due to lower loan yields and accretion, offset by higher securities income. NIM contracted 21bps to 3.32%.
- **Non-Interest Income**: Up 9% Q/Q to $532M, driven by rail repricing, commercial fees, and customer derivatives.
- **Expenses**: +3.1% Q/Q to $1.3B due to personnel (hiring for risk/tech), incentive comp, and technology projects.
- **Credit Metrics**: Allowance ratio stable at 1.2%. Net charge-offs up 4bps Q/Q but aligned with expectations, with stress in investor-dependent and office portfolios.
- **Balance Sheet Growth**: 
  - Loans +$1.5B Q/Q (SVB Commercial +$342M, General Bank +$676M)
  - Deposits +$3.7B Q/Q (SVB Commercial +$692M, General Bank +$893M)
- **Capital Management**: CET1 ratio 12.99%, targeting 10.5%-11% by end-2025 via buybacks.

**【Q&A Key Highlights】**
1. **NII Outlook**: 2025 range $6.6B-$7B assumes 0-4 rate cuts. Q1 NII stable vs Q4, with ex-accretion NII up low-single digits.
2. **SVB Client Funds**: Q4 growth driven by late-stage deals ($75B VC investments, 1/3 from 3 mega-deals). 2025 cautious on growth due to macro headwinds.
3. **M&A Activity**: No material M&A planned for 2025, but remain opportunistic.
4. **Risk Management**: No emerging credit issues beyond known portfolios. CET1 ex loss-sharing to 10.5%-11% by year-end.
5. **Buyback Plan**: Current $3.5B plan 50% complete. May initiate new plan H2-2025 if stress tests allow.
6. **Credit Trends**: Equipment finance normalizing, CRE stress easing with rate cuts. Full-year net charge-offs 35-45bps.
7. **Efficiency Ratio**: Target mid-50s long-term, but 2025 in upper 50s due to rate headwinds and tech/risk investments.
8. **Regulatory Readiness**: 2025 expenses reflect Cat 3 readiness; no major over-investment expected in 2026.

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