First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q1 2025 Earnings Conference Call April 24, 2025 9:00 AM ET Company Participants Deanna Hart - Head of Investor Relations Frank Holding - Chairman and Chief Executive Officer Craig Nix - Chief Financial Officer Tom Eklund - Treasurer Marc Cadieux - President of Silicon Valley Bank Andrew Giangrave - Executive Vice President and Chief Credit Officer Conference Call Participants Chris McGratty - Keefe, Bruyette & Woods, Inc. Christopher Marinac - Janney Montgomery ...

First Citizens BancShares, Inc. First Quarter 2025 Earnings Conference Call April 24, 2025 | Agenda | Pages | | --- | --- | | Section I – First Quarter Overview & Strategic Priorities | 4 – 6 | | Section II – First Quarter 2025 Financial Results | 7 – 26 | | Financial Highlights | 8 – 9 | | Earnings Highlights | 10 | | Net interest income, margin and betas | 11 – 13 | | Noninterest income and expense | 14 – 15 | | Balance Sheet Highlights | 16 | | Loans and Leases | 17 – 18 | | Deposits | 19 – 20 | | SVB Co ...

First Citizens BancShares (FCNCA) came out with quarterly earnings of $37.79 per share, beating the Zacks Consensus Estimate of $37.72 per share. This compares to earnings of $52.92 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.19%. A quarter ago, it was expected that this bank would post earnings of $39.46 per share when it actually produced earnings of $45.10, delivering a surprise of 14.29%.Over the last four quarters, ...

| Dollars in millions, except per share data | | | | Three Months Ended | | | | --- | --- | --- | --- | --- | --- | --- | | Summary Financial Data & Key Metrics | | March 31, 2025 | | December 31, 2024 | | March 31, 2024 | | Results of Operations: | | | | | | | | Net interest income | $ | 1,663 | $ | 1,709 | $ | 1,817 | | Provision for credit losses | | 154 | | 155 | | 64 | | Net interest income after provision for credit losses | | 1,509 | | 1,554 | | 1,753 | | Noninterest income | | 635 | | 699 | | 627 | ...

RALEIGH, N.C., April 24, 2025 /PRNewswire/ -- The Board of Directors of First Citizens BancShares, Inc. (Nasdaq: FCNCA) has declared the following dividends on the company's common and preferred stock, in each case to be paid on June 16, 2025, to holders of record as of May 30, 2025:   A quarterly common stock dividend of $1.95 per share on the company's Class A and Class B common stock. A regular quarterly dividend of $13.4375 per share on the company's 5.375% non-cumulative perpetual preferred stock, Ser ...

Core Insights - The climate tech sector is experiencing a recovery with increased venture capital investment in energy, manufacturing, and carbon technology, outperforming overall VC with a 9% higher internal rate of return (IRR) for the 2020-2024 fund vintage [1][2] Fundraising Landscape - 57% of US VC-backed climate tech companies need to raise funds within the next twelve months, despite over half reducing their burn year-over-year [5] - Early-stage investment remains resilient compared to later-stage activity, indicating a healthy pipeline for future growth [5] Sector Trends - By 2030, it is projected that half of electricity generation will come from renewable resources, with climate tech solutions expected to transform the energy and power sector [5] - Climate tech valuations have risen after bottoming out in 2023, with Series B and C+ rounds reaching decade highs of $30 million and $60 million respectively in 2024 [5] Financial Performance - Climate tech hardware companies saw revenue growth rates decline from a median of 58% at the end of 2021 to 19% by the end of 2023, while climate tech software companies achieved a 30% higher profit margin in 2024 [5] - Clean energy and power companies closed 382 deals, surpassing $7 billion in investment in 2024, marking a 15% year-over-year increase and more than a threefold rise over pre-COVID levels [5] M&A Activity - Mergers and acquisitions (M&A) activity has returned to 2020 levels, with financial buyers increasing their share of transactions from 15% to 40% between mid-2023 and early 2024 [5]

RALEIGH, N.C., April 2, 2025 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the quarter ended March 31, 2025, before the U.S. financial markets open on Thursday, April 24, 2025. A conference call and webcast will be held to discuss BancShares' financial results at 9 a.m. Eastern time on the same day. The conference call and webcast may contain forward-looking statements and other material information. To pre-regist ...

Investment in Women's Health reached $2.6 billion in 2024 despite challenging fundraising environment SAN FRANCISCO, April 2, 2025 /PRNewswire/ -- Venture capital investment in women's health startups has experienced significant growth in recent years, with funding reaching new heights in 2024. According to the latest report from Silicon Valley Bank (SVB), a division of First Citizens Bank, women's health investment hit $2.6 billion last year, surpassing 2023's total by nearly $1 billion. When including fu ...

Core Insights - Silicon Valley Bank (SVB) has entered a strategic lending relationship with Pinegrove Venture Partners to provide $2.5 billion in venture debt loans to technology and life science companies nationwide [1][2] - Pinegrove, backed by Sequoia Heritage and Brookfield Asset Management, manages over $10 billion in assets and aims to support the innovation economy through expanded financing solutions [2][7] - The collaboration between SVB and Pinegrove is built on a decade-long relationship, having collectively committed more than $10 billion in venture debt across 550 loans [3][4] Company Overview - Silicon Valley Bank is a leading provider of commercial banking services to innovative companies in technology, life science, healthcare, private equity, and venture capital sectors [5] - First Citizens BancShares, SVB's parent company, is a top 20 U.S. financial institution with over $200 billion in assets [5] - Pinegrove Venture Partners specializes in providing solutions for fund managers, founders, and limited partners within the innovation economy [6]

Financial Performance and Assets - As of December 31, 2024, BancShares had total consolidated assets of $223.72 billion[17]. - As of December 31, 2024, BancShares employed approximately 17,475 staff, reflecting a commitment to talent retention and development[38]. - The total risk-based capital ratio required under Basel III is 10.50%, with a Tier 1 risk-based capital ratio of 8.50% and a common equity Tier 1 ratio of 7.00%[62]. - The Parent Company relies on dividends from FCB, which may be restricted by state and federal laws, affecting its ability to service debt and pay dividends[144]. - The company issued a five-year note of approximately $36.07 billion payable to the FDIC, with a fixed interest rate of 3.50%[212]. Market Presence and Competition - BancShares operates a network of more than 500 branches and offices nationwide, with significant concentrations in North Carolina (11.3%) and South Carolina (9.3%) based on deposit market share[34]. - The acquisition of Silicon Valley Bridge Bank on March 27, 2023, included all customer deposits and certain liabilities, enhancing BancShares' market presence[26]. - The CIT Group merger completed on January 3, 2022, further expanded BancShares' operational capabilities and market reach[27]. - BancShares faces significant competition from various financial service providers, which may reduce market share and profitability[130]. - The company is subject to significant competition in attracting and retaining qualified personnel, which is critical for executing its growth and acquisition strategies[171]. Regulatory Compliance and Risk Management - BancShares is subject to enhanced prudential standards as a bank holding company with more than $100 billion in consolidated assets[53]. - BancShares is required to maintain an enterprise-wide risk management system commensurate with its size, risks, activities, and complexity[64]. - The proposed Basel III Endgame rule would apply additional capital requirements for banking organizations with $100 billion or more in total consolidated assets[67]. - FCB is required to submit a full Resolution Plan every three years under the CIDI Rule, with the first submission due by July 1, 2025[63]. - The company is required to maintain adequate liquidity to meet obligations, with enhanced liquidity risk management requirements as a Category IV banking organization[121]. Capital and Investment Strategies - BancShares submitted a capital plan in 2024 in accordance with regulatory requirements, which includes an assessment of expected uses and sources of capital[57]. - FCB is committed to invest $16 billion over five years in community development, including $5.9 billion in small business lending and $6.9 billion in community development lending[85]. - An addendum to the community benefits plan includes a $6.5 billion target, with $2.25 billion allocated for small business lending and $3.6 billion for CRA development lending[86]. - The company anticipates increased compliance costs and risks associated with climate change regulations, which may require significant capital expenditures[178]. Economic and Market Risks - Economic uncertainty could reduce demand for the company's products and services, impacting loan volumes and fee income[135]. - Unfavorable economic conditions could adversely affect the company's operations and financial condition, particularly in key markets such as North Carolina, South Carolina, California, Texas, New York, Massachusetts, and Florida[203]. - Concerns regarding the U.S. debt ceiling and budget deficit could lead to economic slowdowns or recessions, impacting financial markets and the company's earnings[205]. - The Federal Reserve's actions on interest rates could significantly influence net interest income (NII) and net interest margin (NIM)[197]. Cybersecurity and Operational Risks - Cybersecurity threats necessitate significant resources for protective measures, with ongoing risks of data breaches and operational disruptions[154]. - The company faces heightened cybersecurity risks due to geopolitical tensions, particularly from Russia and Iran, which could lead to malicious cyber activities against its operations[155]. - The company is exposed to operational risks from third-party dependencies, which could lead to significant disruptions in business activities if any of these entities experience failures or cyberattacks[158]. - There have been no material losses reported to date from cyberattacks, but the company acknowledges the potential for future losses that may exceed insurance coverage limits[160]. Strategic Initiatives and Future Outlook - BancShares plans to continue pursuing acquisition opportunities to enhance profitability, but future acquisitions may face increased regulatory scrutiny due to recent changes in bank merger review standards[123]. - The SVBB Acquisition increased the complexity of BancShares' business and expanded its geographic scope, with legacy loans concentrated in technology, life science, and healthcare sectors[128]. - Rapid technological changes require the company to continuously adapt its product offerings to remain competitive, with risks associated with customer adoption of new technologies[145]. - BancShares is actively monitoring and evaluating proposals related to AI regulation and their potential impact on operations[108].