--- title: "First Citz Bancshare Pref Share FCNCP 5.375 Perp 03/15/25 | 10-K: FY2025 Revenue: USD 14.51 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/276789063.md" datetime: "2026-02-24T21:27:52.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276789063.md) - [en](https://longbridge.com/en/news/276789063.md) - [zh-HK](https://longbridge.com/zh-HK/news/276789063.md) --- # First Citz Bancshare Pref Share FCNCP 5.375 Perp 03/15/25 | 10-K: FY2025 Revenue: USD 14.51 B Revenue: As of FY2025, the actual value is USD 14.51 B. EPS: As of FY2025, the actual value is USD 165.24. EBIT: As of FY2025, the actual value is USD -3.843 B. ### Segment Revenue - **General Bank Segment**: Deposit fees and service charges increased by $11 million, and wealth management services revenue increased by $18 million. - **Commercial Bank Segment**: Lending-related fees increased by $9 million, and international fees increased by $17 million. - **Rail Segment**: Rental income on operating lease equipment increased by $48 million. - **Corporate Segment**: Other noninterest income increased by $12 million, driven by tax credit investments, a favorable change in fair value of non-marketable equity securities, and mortgage-related income, partially offset by lower derivative income and a write-down of a held-for-sale asset. ### Operational Metrics #### Net Income - Net income for the current year was $2.21 billion, a decrease of $571 million or 21% from $2.78 billion in the prior year. - Net income available to common stockholders was $2.15 billion for the current year, a decrease of $567 million or 21% from $2.72 billion in the prior year. #### Net Interest Income (NII) and Net Interest Margin (NIM) - NII for the current year was $6.81 billion, a decrease of $329 million or 5% from $7.14 billion in the prior year. - NIM for the current year was 3.25%, a decrease of 29 basis points from 3.54% in the prior year. - NII, excluding Purchase Accounting Accretion or Amortization (PAA), was $6.56 billion for the current year, a decrease of $99 million from $6.66 billion in the prior year. - NIM, excluding PAA, was 3.13% for the current year, a decrease of 17 basis points from 3.30% in the prior year. #### Provision for Credit Losses - The total provision for credit losses for the current year was $514 million, an increase of $83 million or 19% from $431 million in the prior year. - The provision for loan and lease losses was $530 million, an increase of $61 million from $469 million in the prior year, primarily due to a $100 million increase in net charge-offs, including an $82 million charge-off on a single supply chain finance client. - This was partially offset by an Allowance for Loan and Lease Losses (ALLL) reserve release of $110 million in the current year, compared to $71 million in the prior year. - The benefit for off-balance sheet credit exposure was $18 million for the current year, a decrease of $20 million from $38 million in the prior year. #### Noninterest Expense - Noninterest expense for the current year was $6.06 billion, an increase of $321 million or 6% from $5.74 billion in the prior year. - This increase was primarily due to higher personnel costs (up $216 million), marketing expense (up $66 million), equipment expense (up $51 million), third-party processing fees (up $38 million), and maintenance and other operating lease expenses (up $25 million), partially offset by a $69 million decrease in acquisition-related expenses. ### Unique Metrics #### Loans and Leases - Total loans and leases were $147.93 billion at December 31, 2025, an increase of $7.71 billion or 6% from $140.22 billion at December 31, 2024. - The Commercial Bank segment experienced loan growth of $7.64 billion, mainly in Global Fund Banking and other industry verticals like technology, media, and telecommunications (TMT) and Healthcare. - The General Bank segment saw loan growth of $71 million, primarily in Wealth, Small Business Administration (SBA), and Community Association Banking portfolios, offset by a $694 million transfer of residential mortgage loans to held for sale. #### Deposits - Total deposits were $161.58 billion at December 31, 2025, an increase of $6.35 billion or 4% from $155.23 billion at December 31, 2024. - Corporate deposit growth was $3.02 billion, mainly from the Direct Bank, which primarily consists of savings accounts. - General Bank segment deposit growth was $1.84 billion, concentrated in the Branch Network, with money market growth partially offset by lower time deposits. - Commercial Bank segment deposit growth was $1.51 billion, mostly in Global Fund Banking, with increases in noninterest-bearing demand and money-market deposits, partially offset by a decline in interest-bearing checking. - Noninterest-bearing deposits grew by $2.02 billion or 5% compared to December 31, 2024, representing 25.2% of total deposits at December 31, 2025, compared to 24.9% at December 31, 2024. - Total uninsured deposits were approximately $61.81 billion or 38% of total deposits at December 31, 2025, consistent with $59.51 billion or 38% at December 31, 2024. #### Investment Securities - Investment securities were $41.56 billion at December 31, 2025, a decrease of $2.53 billion or 6% from $44.09 billion at December 31, 2024. - The duration of investment securities was approximately 2.7 years at December 31, 2025, with available-for-sale securities having an average duration of 2.3 years and held-to-maturity securities having an average duration of 4.1 years. #### Borrowings - Total borrowings were $36.01 billion at December 31, 2025, a decrease of $1.04 billion or 3% from $37.05 billion at December 31, 2024. - This decrease was primarily due to $2.84 billion in debt redemptions, including a $2.49 billion partial prepayment of the Purchase Money Note, partially offset by $1.85 billion in debt issuances in 2025. #### Capital Ratios (as of December 31, 2025) - Total risk-based capital ratio: 13.71%. - Tier 1 risk-based capital ratio: 11.91%. - Common Equity Tier 1 (CET1) ratio: 11.15%. - Tier 1 leverage ratio: 9.29%. ### Outlook / Guidance First Citizens BancShares, Inc. anticipates the acquisition of 138 branches from BMO Bank N.A., involving approximately $5.7 billion in deposit liabilities and $1.1 billion in loans, to close in the second half of 2026, pending customary closing terms and regulatory approvals. The company plans to monitor the interest rate environment and its collateral position for the Purchase Money Note to assess further voluntary prepayments, noting that interest rates for potential interest-bearing sources of prepayment could be higher than the note’s 3.50% rate. Additionally, First Citizens BancShares, Inc. will continue to monitor developments regarding the revised proposal for the implementation of the Basel III Endgame, with final rules expected to begin implementation in 2027. ### Related Stocks - [FCNCP.US](https://longbridge.com/en/quote/FCNCP.US.md) ## Related News & Research - [Via Renewables 8.75% Preferred Series A declares $0.657 dividend](https://longbridge.com/en/news/283001170.md) - [General American Investors Company, Inc. 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