First Citizens BancShares: Short-Term Upside Coupled With Solid Long-Term Potential

J. Michael Jones FCNCA reported 6.2% annualised loan growth and 10.4% annualised deposit growth, which significantly exceeds growth at most other regional banks. Loan growth was predominantly driven by the General and Commercial banking segments, but the SVB franchise also reported net loan growth for the first time since acquisition. On the liability side of things, deposit grew strongly in the General Bank due to growth in the branch network, which offset a decline in SVB deposits due to cash burn by inve ...