Prnewswireยท2025-04-24 10:32Core 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].