Start Time: 09:00 January 1, 0000 10:04 AM ET First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q4 2022 Earnings Conference Call January 26, 2023, 09:00 AM ET Company Participants Frank Holding - Chairman and CEO Craig Nix - CFO Tom Eklund - Treasurer Marisa Harney - Chief Credit Officer Elliot Howard - Manager Mergers and Acquisitions Deanna Hart - SVP, IR Conference Call Participants Brady Gailey - KBW Stephen Scouten - Piper Sandler Brian Foran - Autonomous Christopher Marinac - Janney Montgomery Scott Oper ...

Fourth Quarter 2022 Earnings Conference Call January 26, 2023 forever first This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of First Citizens BancShares, Inc. ("BancShares"). Words such as "anticipates," "believes," "estimates," "expects," "predicts," "forecasts," "intends," "plans," "projects," "targets," "designed," "could," "ma ...

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, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 | --- | --- | --- | |----------------------------------- ...

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET Company Participants Deanna Hart – Senior Vice President-Investor Relations Frank Holding – Chairman and Chief Executive Officer Craig Nix – Chief Financial Officer Tom Eklund – Treasurer Marisa Harney – Chief Credit Officer Conference Call Participants Brady Gailey – KBW Stephen Scouten – Piper Sandler Brian Foran – Autonomous Christopher Marinac – Janney Operator Ladies and gentlemen, thank you for ...

First Citizens BancShares, Inc. Third Quarter 2022 Earnings Conference Call October 27, 2022 2 Agenda | --- | --- | |-----------------------------------------------------|---------| | | Page(s) | | Section I – Third Quarter 2022 Overview | 4 – 6 | | Section II – Third Quarter 2022 Financial Results | 7 – 27 | | Financial Highlights | 8 | | Earnings Highlights | 9 – 10 | | Notable Items | 11 | | Net interest income and margin 12 – 14 | | | Deposit Betas | 15 | | Noninterest income and expense 16 – 18 | | | B ...

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 June 30, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 | --- | --- | --- | |---------------------------------------- ...

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q2 2022 Earnings Conference Call July 28, 2022 9:00 AM ET Company Participants Deanna Hart - SVP, IR Frank Holding - Chairman & CEO Peter Bristow - President Marisa Harney - Chief Credit Officer Craig Nix - CFO & Principal Accounting Officer Tom Eklund - SVP & Treasurer Conference Call Participants Stephen Scouten - Piper Sandler & Co. Brady Gailey - KBW Christopher Marinac - Janney Montgomery Scott Brian Foran - Autonomous Research Operator Ladies and gentleme ...

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 March 31, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File Number: 001-16715 | --- | --- | --- | |--------------------------------------- ...

First Citizens BancShares, Inc. First Quarter 2022 Earnings Conference Call April 28, 2022 2 Agenda Page(s) Section I – Merger Integration Update 4 – 6 Section II – First Quarter 2022 Financial Results 7 – 23 1Q22 Take-aways 8 1Q22 Financial Highlights 9 – 11 Net interest income and margin 12 – 14 Noninterest income and expense 15 – 16 Balance Sheet Highlights 17 Loans and Leases HFI 18 Deposits and Funding Mix 19 – 20 Quarterly Credit Quality Trends and Capital 21 – 23 Section III – Financial Outlook 24 – ...

Financial Data and Key Metrics - Core deposit growth was strong with noninterest-bearing deposits growing by $1.2 billion since year-end, an annualized growth rate of 20% [17] - Net interest margin expanded by 17 basis points over the linked-quarter, with only 6 basis points attributable to purchase accounting [17] - Pre-provision net revenue increased by 8% over the linked quarter and by 18% over the comparable quarter a year ago [19] - GAAP net income was $264 million or $16.70 per share, yielding an annualized ROE of 11.18% and an ROA of 1% [22] - Adjusted net income was $299 million or $18.95 per share, yielding an annualized ROE of 12.68% and an ROA of 1.12% [22] Business Line Performance - Loan portfolio grew due to strong growth in the branch network and residential mortgages [17] - Positive momentum in fee income-producing lines of business such as rail, card, merchant, and wealth [18] - Core noninterest income increased by $16 million or about 6% over the linked-quarter, driven by higher rental income on operating leases and card/merchant income [37] - Mortgage income was negatively impacted by higher interest rates and reduced refinance activity [38] Market Performance - Total loans increased by $313 million over the linked-quarter or by 1.9% on an annualized basis [45] - Deposits grew at an annualized rate of approximately 4% or about $833 million, driven by a $1.2 billion increase in noninterest-bearing checking accounts [48] - Cost of deposits declined to 17 basis points during the quarter, down 6 basis points from the linked-quarter and 16 basis points from the first quarter of last year [48] Company Strategy and Industry Competition - Focus on timely and successful integration with CIT, with $200 million in cost savings expected to be in the run rate by the end of the year [12] - Shift from integration focus to execution, capturing synergistic value from the CIT merger on both revenue and expense sides [14] - Expect mid-single-digit percentage increase in loans for the full year 2022, with growth led by the branch network [47] Management Commentary on Operating Environment and Future Outlook - Despite geopolitical and macroeconomic uncertainties, the company remains optimistic about growth prospects [14] - Expect net interest margin to continue expanding, with loan growth and fee income generating lines of business showing momentum [9] - Inflation and wage pressures are being felt, but cost savings initiatives are expected to help neutralize expense growth [43] Other Important Information - Credit quality remained strong with a net charge-off ratio of 9 basis points [20] - The company ended the quarter with strong capital and liquidity, supporting the resumption of share repurchases in the second half of the year [20] - The combined ACL was $890 million at the end of 2021, with a day 1 combined ACL of $916 million post-CIT merger [52] Q&A Session Summary Question: Share Repurchase Plan - The company plans a robust stock repurchase plan in the second half of the year, with excess capital estimated at $1.1 billion at the end of Q1 and $1.6 billion by year-end [66][67] Question: Excess Liquidity Deployment - The company aims to redeploy excess liquidity into loans, which could be accretive to margin by 10 to 15 basis points and boost net interest income by $95 million to $143 million [69] Question: PPP Fees and Accretable Yield - SBA-PPP income in Q1 was $9.5 million, with $6 million in fee income [72] Question: Legacy CIT Portfolio and CECL Modeling - The legacy CIT portfolio is performing well, with credit quality back to or better than pre-pandemic levels [76][78] - The ACL is conservative, with 14.3 times coverage of annualized net charge-offs [53] Question: Investment Strategy - The company prioritizes lending over investing in securities, focusing on shorter-duration government-backed or sponsored mortgage-backed securities to reduce volatility in a rising rate environment [81][83] Question: Regional Performance and Customer Behavior - Strong markets across the country, with larger metropolitan areas showing more robust growth [85] - Loan rates are expected to stabilize and increase as higher-rate loans replace lower-rate ones [87]