First Citz Bancshare Pref Share FCNCP 5.375 Perp 03/15/25 | 8-K: FY2025 Q3 Revenue: USD 2.429 B

Revenue: As of FY2025 Q3, the actual value is USD 2.429 B.

EPS: As of FY2025 Q3, the actual value is USD 43.08.

Financial Highlights

Net Income

• For the third quarter of 2025, net income was $568 million, a slight decrease from $575 million in the second quarter of 2025. Adjusted net income was $587 million, down from $607 million in the linked quarter.

Net Interest Income and Margin

• Net interest income increased by $39 million to $1.73 billion. Excluding purchase accounting accretion (PAA), it was $1.67 billion, up by $44 million. The net interest margin remained stable at 3.26%, with a slight increase in the margin excluding PAA to 3.15%.

Noninterest Income and Expense

• Noninterest income rose by $21 million to $699 million, while adjusted noninterest income increased by $5 million to $518 million. Noninterest expense decreased by $9 million to $1.49 billion, with adjusted noninterest expense remaining stable at $1.28 billion.

Balance Sheet Summary

• Loans and leases grew by $3.49 billion to $144.76 billion, and deposits increased by $3.26 billion to $163.19 billion. Noninterest-bearing deposits rose by $1.87 billion, representing 26.2% of total deposits.

Provision for Credit Losses and Credit Quality

• The provision for credit losses was $191 million, up from $115 million in the linked quarter. Net charge-offs increased to $234 million, primarily due to a significant charge-off in the Commercial Bank segment.

Capital and Liquidity

• Capital ratios remained strong, with a total risk-based capital ratio of 14.05%. Liquidity was robust, with liquid assets totaling $61.92 billion.

Unique Metrics

• Loan Growth: Total loans increased by $3.5 billion or 2.5% from the previous quarter, primarily driven by the SVB Commercial segment.
• Deposit Growth: Total deposits increased by $3.3 billion or 2.0% from the previous quarter, with significant contributions from the SVB Commercial and General Bank segments.

Outlook / Guidance

• First Citizens BancShares anticipates completing the acquisition of 138 BMO Bank branches by mid-2026, which is expected to enhance its liquidity position and support strategic initiatives. The company remains focused on maintaining strong capital and liquidity positions to support growth and shareholder returns.
• Loans and leases are projected to be between $143 billion and $146 billion by the end of the year. Deposits are expected to range from $161 billion to $165 billion by the end of the year. Interest rates are anticipated to experience zero to two 25 basis point cuts in the fourth quarter, with the federal funds rate ending between 3.50% and 4.25%.