Core Viewpoint - Analysts expect First Citizens BancShares (FCNCA) to report quarterly earnings of $39.46 per share, reflecting a year-over-year decline of 15.3%, with revenues projected at $2.23 billion, down 9% from the previous year [1] Earnings Estimates - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [2] Key Metrics Projections - Analysts estimate an 'Efficiency Ratio' of 58.2%, down from 60.8% a year ago [4] - 'Net Interest Margin' is expected to be 3.3%, compared to 3.9% in the previous year [4] - 'Average Balance - Total interest-earning assets' is projected at $203.62 billion, up from $196.25 billion a year ago [4] Loan and Asset Estimates - 'Nonaccrual loans at period end' are projected to reach $1.31 billion, up from $969 million in the same quarter last year [5] - 'Total nonperforming assets' are expected to be $1.35 billion, compared to $1.03 billion a year ago [5] Income Estimates - 'Net Interest Income' is projected at $1.70 billion, down from $1.91 billion a year ago [6] - 'Merchant services, net' is estimated at $12.03 million, slightly up from $12 million in the same quarter last year [6] - 'Cardholder services, net' is expected to reach $41.96 million, compared to $36 million a year ago [6] Service Charges and Fees - 'Service charges on deposit accounts' are expected to be $45.34 million, up from $44 million in the same quarter last year [7] - 'Factoring commissions' are projected at $18.91 million, down from $22 million a year ago [7] - 'International fees' are expected to be $29.48 million, slightly down from $30 million in the previous year [8] - 'Fee income and other service charges' are projected at $81.27 million, up from $80 million a year ago [8] Stock Performance - Shares of First Citizens have returned +2.7% over the past month, outperforming the Zacks S&P 500 composite, which changed by -0.4% [8]

Core Viewpoint - First Citizens BancShares (FCNCA) is expected to report a year-over-year decline in earnings and revenues for the quarter ended December 2024, with the consensus outlook indicating a significant impact on its stock price depending on actual results compared to estimates [1][3]. Earnings Expectations - The consensus EPS estimate for First Citizens is $39.46 per share, reflecting a year-over-year decrease of 15.3% [3]. - Expected revenues for the quarter are $2.23 billion, which is a 9% decline from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. - The Most Accurate Estimate for First Citizens is higher than the Zacks Consensus Estimate, resulting in a positive Earnings ESP of +3.34%, suggesting a bullish outlook from analysts [10]. Earnings Surprise Prediction - A positive Earnings ESP is a strong indicator of an earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [8]. - First Citizens holds a Zacks Rank of 3, indicating a likelihood of beating the consensus EPS estimate [11]. Historical Performance - In the last reported quarter, First Citizens had an expected EPS of $47.94 but delivered $45.87, resulting in a surprise of -4.32% [12]. - Over the past four quarters, the company has surpassed consensus EPS estimates two times [13]. Industry Context - Amerant Bancorp Inc. (AMTB), another player in the Southeast banking industry, is expected to report an EPS of $0.27 for the same quarter, indicating a year-over-year decline of 41.3% [17]. - Amerant's revenues are projected to be $100.54 million, down 0.7% from the previous year [17]. - The consensus EPS estimate for Amerant has been revised up by 2.7% over the last 30 days, but it currently has an Earnings ESP of 0.00%, making predictions about beating the consensus EPS estimate uncertain [18].

SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Linea Energy ("Linea"), a renewables-focused developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), is pleased to announce closing of project debt financing for its Pineview Solar project ("Pineview") this past December. Pineview is a 109MWdc utility-scale solar energy facility located in Wilcox County, Georgia. The Pineview debt financing comprises a construction-to-term loan, a tax equity bridge loan, and a letter of cred ...

New report finds $5.6 billion invested in biopharma AI in 2024SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Venture Capital (VC) investment in healthcare grew to $23 billion in 2024, from $20 billion in 2023, as artificial intelligence (AI) clearly established product fit in the healthcare sector, according to the latest market insights report from Silicon Valley Bank (SVB), a division of First Citizens Bank. AI continues to take center stage, especially across biopharma, with 30% of healthcare investment in ...

WALTHAM, Mass., Dec. 23, 2024 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (NASDAQ:TCRX), a clinical-stage biotechnology company focused on the development of T cell receptor (TCR)-engineered T cell (TCR-T) therapies for the treatment of patients with cancer, today announced that it has entered into a term loan facility with Silicon Valley Bank (SVB), a division of First Citizens Bank, for up to $52.5 million. The first tranche of $32.5 million, advanced at loan closing, will be used to retire the existing ...

Financing and Partnership - Silicon Valley Bank (SVB) provided $35 million in debt financing to Squire Technologies Inc, a leading management and point of sale (POS) system for barbershops [1] - The financing aims to help Squire drive innovation, expand its platform, streamline operational efficiency, and grow revenue for barber businesses [2] - SVB expanded its initial credit facility to support Squire's growth and scaling efforts [4] Squire Technologies Overview - Squire Technologies was founded in 2015 by Songe LaRon and Dave Salvant [3] - The company provides a comprehensive business management platform for barbershops, including CRM, appointment management, analytics, and POS systems [3] - Squire's platform helps barber businesses attract and retain customers, manage operations, increase revenue, and handle appointments and services in one place [3] - Squire is trusted by barbers in over 3,000 shops and processes over $1 billion in payments across more than a thousand cities globally [6] Industry Impact - Squire's platform is tailored to the specific needs of barbershops, enabling business owners to effectively manage clientele, payment operations, and overall business success [4] - The company supports shop owners in bridging the gap between their personal craft and business goals through tools like streamlined booking, real-time earning dashboards, and customer relationship building [6] Silicon Valley Bank Background - SVB, a division of First Citizens Bank, specializes in providing commercial banking to innovative companies in technology, life science, healthcare, private equity, and venture capital industries [5] - SVB operates in innovation centers across the United States, leveraging deep sector expertise and connections to serve its clients [5] - SVB's parent company, First Citizens BancShares, Inc, is a top 20 U S financial institution with over $200 billion in assets [5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________ FORM 10-Q ____________________________________________________ ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 Indicate by check mark whether the registrant (1) has fi ...

As we enter one of the most tumultuous weeks of 2024, the familiar drumbeat of election-year predictions has reached a fever pitch.From Florida, where hurricanes have already made this a stormy year, the view of the national landscape reveals a stark contrast between perception and reality.While internet pundits promise everything from democratic salvation to impending doom, the actual economic indicators tell a more nuanced story.Here's the truth – and two stocks set to profit from it.Despite dire predicti ...

Financing provided by SVB's Enterprise Software Group SAN FRANCISCO, Oct. 31, 2024 /PRNewswire/ -- Silicon Valley Bank (SVB), a division of First Citizens Bank, today announced it has provided a $50 million growth capital facility to Bugcrowd, a leading provider of crowdsourced cybersecurity solutions. Bugcrowd brings the collective ingenuity of organizations and hackers to mitigate vulnerabilities across all applications, systems, and infrastructure.Provided by SVB's Enterprise Software Group, the new fina ...

RALEIGH, N.C., Oct. 28, 2024 /PRNewswire/ -- First Citizens Wealth, the wealth management division of First Citizens Bank, today published new results from its "Beyond Wealth" study that offer fresh insights about affluent business owners. Key findings include: A bare majority (52%) of affluent business owners say they know exactly how much their business is worth. And a large share of those (44%) aren't confident in that assessment. Less than half of affluent business owners (47%) say they have a plan for ...