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 | ...

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].

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]

Core Viewpoint - First Citizens BancShares, Inc. will report its financial results for Q1 2025 on April 24, 2025, before U.S. markets open [1] Group 1: Financial Results Announcement - The financial results for the quarter ended March 31, 2025, will be reported before the market opens on April 24, 2025 [1] - A conference call and webcast to discuss the financial results will take place at 9 a.m. Eastern time on the same day [1] Group 2: Participation Details - Investors can pre-register for the call via a recommended webcast link [2] - Telephone access is available for North America and other locations with specific dialing instructions provided [2] - A replay of the call will be available on the company's website after the event [2] Group 3: Company Overview - First Citizens BancShares, Inc. is a top 20 U.S. financial institution with over $200 billion in assets and is a member of the Fortune 500 [3] - The company offers a wide range of banking services, including commercial banking, innovation banking, and wealth management [3] - First Citizens Bank has a legacy of strength and stability, serving customers nationwide [3]

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]