First Citizens BancShares(FCNCA)

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Career Financial Services Leader Appointed to First Citizens BancShares Board of Directors
Prnewswire· 2025-06-26 20:15
Core Insights - Diane Morais has been appointed to the board of directors of First Citizens BancShares, Inc. and its subsidiary, First-Citizens Bank & Trust Company, effective July 1, 2025 [1] Group 1: Diane Morais' Background and Experience - Morais has over 30 years of experience in the financial services sector, most recently serving as President of Consumer and Commercial Banking at Ally Bank from 2017 until her retirement in 2024 [2] - At Ally, she was instrumental in the creation and launch of the Ally brand in 2009 and oversaw various banking divisions including deposits, online brokerage, mortgage, and credit card businesses [2] - Prior to her tenure at Ally, Morais spent 12 years at Bank of America in senior roles and nine years at Citibank in the credit card division [3] Group 2: Contributions to First Citizens BancShares - Frank B. Holding, Jr., chairman and CEO of First Citizens, expressed confidence in Morais' customer-centric vision and leadership style, which aligns with the company's long-term focus [3] - Morais will serve on the Joint Risk Committee and Joint Technology Committee of First Citizens BancShares and First Citizens Bank [5] Group 3: Community Involvement and Recognition - Morais is actively involved in the Charlotte community, serving on the boards of several organizations and volunteering for various charities [4][5] - She has been recognized as one of American Banker Magazine's 25 Most Powerful Women in Banking for nine consecutive years through 2023 and received the 2024 Lifetime Achievement Award from the Charlotte Business Journal [4]
Merlo America LLC and First Citizens Bank Announce Comprehensive New Vendor Finance Agreement
Prnewswire· 2025-06-25 13:00
Group 1 - Merlo America LLC and First Citizens Bank Equipment Finance have announced a new vendor finance agreement to provide leasing and lending solutions for Merlo customers to acquire new construction and agricultural equipment [1] - Merlo America is the North American subsidiary of Italy-based Merlo S.p.A, which is a leading producer of multi-use telehandlers and machinery for various applications including agriculture and construction [2][5] - The collaboration aims to empower clients by offering outstanding financing options that facilitate the acquisition of essential equipment for business operations and growth [3] Group 2 - First Citizens Bank Equipment Finance is focused on providing equipment financing solutions to original equipment manufacturers, vendors, and small to mid-size businesses through a unique sales coverage model and seasoned support staff [4][6] - First Citizens Bank is a top 20 U.S. financial institution with over $200 billion in assets, offering a wide range of banking services including commercial banking and innovation banking [6]
UpEquity Secures Warehouse Facility from Silicon Valley Bank and Setpoint
Prnewswire· 2025-06-18 13:30
Core Insights - Silicon Valley Bank (SVB) and Setpoint have provided a $200 million warehouse facility to UpEquity, which is expected to support $1 billion in originations over the next two years [1][2] - UpEquity has experienced significant growth, with its revenue tripling annually since launching its 'buy before you sell' solutions in October 2023 [2][3] - The partnership aims to enhance UpEquity's ability to assist customers in transitioning between homes more smoothly, addressing the challenges of simultaneous buying and selling [3] Company Overview - UpEquity offers innovative solutions for homebuyers, including the Trade Up Program and Equity Advance program, which enhance negotiating leverage and provide access to home equity for down payments [5] - SVB specializes in providing banking services to innovative companies across various sectors, including technology and healthcare, and has over $200 billion in assets [4] - Setpoint Capital focuses on asset-backed private credit opportunities and integrates financial expertise with operational excellence to create efficient capital solutions [6]
Investment in Frontier Technology Increases Year Over Year; Silicon Valley Bank Releases New Report
Prnewswire· 2025-06-10 13:30
Core Insights - Venture Capital investment in frontier technology has increased by 47% year-over-year, driven by AI demand, defense innovations, and industrial automation growth [1][2] - Despite supply chain challenges and economic uncertainty, the frontier tech sector is experiencing significant growth, with strong VC enthusiasm for fundraising [2] Investment Trends - VC fundraising in hardware has reached a 10-year high, with one-third of fundraising dollars allocated to hardware-focused VC funds, up from 20% in 2021 [4] - Total VC investment in defense and aerospace surpassed $4 billion in 2024 and is projected to reach $12 billion by the end of 2025 [4] - Investment in AI and robotics is increasing, with VCs focusing on AI compute and hardware as generative AI adoption rises [4] Defense Sector Insights - Annual VC investment in defense technology has exceeded the budget for the Defense Advanced Research Projects Agency (DARPA) since 2019, indicating a shift in funding for defense innovation [4] - More than 50% of frontier tech unicorns have raised funding in the last two years, highlighting the sector's robust fundraising environment [4]
First Citizens BancShares(FCNCA) - 2025 Q1 - Earnings Call Transcript
2025-04-24 17:24
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(FCNCA) - 2025 Q1 - Earnings Call Presentation
2025-04-24 14:12
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) Tops Q1 Earnings and Revenue Estimates
ZACKS· 2025-04-24 12:45
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, ...
First Citizens BancShares(FCNCA) - 2025 Q1 - Quarterly Results
2025-04-24 10:34
| 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 | ...
First Citizens BancShares Reports First Quarter 2025 Earnings
Prnewswire· 2025-04-24 10:32
Core Viewpoint - First Citizens BancShares, Inc. reported solid financial results for Q1 2025, highlighting loan and deposit growth, stable credit quality, and strong capital and liquidity positions, despite acknowledging uncertainties in the current environment [2][4]. Financial Highlights - Net income for Q1 2025 was $483 million, down from $700 million in Q4 2024, with net income available to common stockholders at $468 million or $34.47 per share, compared to $685 million or $49.21 per share in the linked quarter [4]. - Adjusted net income for the current quarter was $528 million, down from $643 million in the linked quarter, with adjusted net income available to common stockholders at $513 million or $37.79 per share [5]. - Net interest income totaled $1.66 billion, a decrease of $46 million from the linked quarter, primarily due to a decrease in interest income on loans [6]. Loan and Deposit Growth - Loans and leases totaled $141.36 billion, an increase of $1.14 billion (3.3% annualized) compared to the end of 2024, driven by growth in the Commercial Bank segment and SVB Commercial segment [9][11]. - Deposits reached $159.33 billion, an increase of $4.10 billion (10.7% annualized growth), with significant contributions from corporate deposits and the General Bank segment [11]. Capital and Liquidity - The company maintained strong capital ratios, with total risk-based capital at 15.23% and Tier 1 risk-based capital at 13.35% as of March 31, 2025 [17]. - The liquidity position remained robust, with liquid assets amounting to $62.79 billion, up from $59.34 billion at the end of 2024 [17]. Noninterest Income and Expense - Noninterest income was $635 million, down from $699 million in the linked quarter, with declines in fair value adjustments and gains on sales of loans [9]. - Noninterest expense decreased to $1.49 billion from $1.52 billion in the linked quarter, reflecting lower acquisition-related expenses [9].
FIRST CITIZENS BANCSHARES DECLARES DIVIDENDS
Prnewswire· 2025-04-24 10:30
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 ...