RALEIGH, N.C., July 31, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking business provided $25 million in financing to F.W. Webb, the largest wholesale distributor of plumbing, heating and industrial products in the Northeastern U.S. The financing provided by First Citizens Middle Market Banking will be used to refinance F.W. Webb's newly constructed warehouse and distribution center with a showroom in Boston, Mass. Located at 101 Hampden Street, the property is nearby ...

RALEIGH, N.C., July 29, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Middle Market Banking group is expanding in the Northeastern U.S., leveraging its deep middle market expertise to provide a full-suite of financial solutions to midsize businesses across the region. The group's Northeast expansion is bolstered by recent hirings of Boston-based Northeast Market Executive Nate Pusey and Managing Director John Tyson, as well as New York-based Managing Director Marc Einerman. The Northeast ...

First Citizens BancShares, Inc. (NASDAQ:FCNCA) Q2 2024 Results Conference Call July 25, 2024 9:00 AM ET Deanna Hart - SVP, IR Frank Holding - CEO Craig Nix - CFO Tom Eklund - Treasurer Steven Alexopoulos - JP Morgan Christopher Marinac - Janney Montgomery Scott Casey Haire - Jefferies Ladies and gentlemen, thank you for standing by and welcome to the First Citizens Bancshares Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentat ...

The reported revenue compares to the Zacks Consensus Estimate of $2.3 billion, representing a surprise of +7.03%. The company delivered an EPS surprise of +13.27%, with the consensus EPS estimate being $44.91. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Efficiency Ratio: 56.4% versus the six-analyst average estimate of 53.1%. Net Interest Margin: 3.6% versu ...

This quarterly report represents an earnings surprise of 13.27%. A quarter ago, it was expected that this bank would post earnings of $44.27 per share when it actually produced earnings of $52.92, delivering a surprise of 19.54%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While First Citizens has outperformed the market so far this year, the question tha ...

Chairman and CEO Frank B. Holding, Jr. said: "We are pleased with our second quarter financial results, which reflected broad-based loan and deposit growth, strong profitability metrics and continued stabilization of credit. These results reflected the solid performance from all of our business segments and we were encouraged by the continued progress in our SVB Commercial segment, which achieved both loan and deposit growth. In addition, we are pleased to announce that our Board of Directors approved a sha ...

NEW YORK, July 17, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Healthcare Finance business provided $24 million to finance the acquisition of a post-acute medical rehabilitation hospital in Tulsa, Oklahoma. "We are pleased with First Citizens Healthcare Finance group's ability to arrange a solid financial package as we continue to grow our business," said Rance Sanders, President and CEO. "We highly value our First Citizens banking relationship and appreciate their efficient process an ...

RALEIGH, N.C., July 2, 2024 /PRNewswire/ -- First Citizens BancShares, Inc. ("BancShares") (NASDAQ: FCNCA) today announced that it will report its financial results for the quarter ended June 30, 2024, before the U.S. financial markets open on Thursday, July 25, 2024. 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-register ...

NEW YORK, June 26, 2024 /PRNewswire/ -- First Citizens Bank today announced that its Commercial Real Estate business provided $52 million in financing to a joint venture between Wheelock Street Capital and Foundry Commercial for the construction of Egret Point Logistics Center in Boynton Beach, Florida. Wheelock Street Capital LLC is a private real estate investment firm based in Greenwich, CT and was founded by Merrick R. Kleeman and Johnathan H. Paul. Wheelock consists of a premier investment and asset ma ...

RALEIGH, N.C., June 17, 2024 /PRNewswire/ -- First Citizens Wealth, the wealth management division of First Citizens Bank (NASDAQ: FCNCA/FCNCB), today published the results of a new study conducted to uncover insights on the behaviors and attitudes of affluent Americans toward money management and planning for the future. Key findings include: "Our inaugural study sheds new light on how affluent Americans are looking at their money management and their attitudes toward retirement, estate planning and wealth ...