First Citizens Bancshares Stock Earnings Reports

First Citizens reported solid first quarter 2026 results with adjusted EPS of $44.86, an adjusted ROE of 10.39% and adjusted ROA of 0.97%. Net interest income and NIM were pressured by lower rates (NIM 3.09%), producing a sequential NII decline largely in line with prior guidance, which was partially offset by lower noninterest expense and strong deposit growth. Period-end deposits increased $9.3 billion (5.7% sequentially) driven by tech & health care, global fund banking and the General Bank; off-balance-sheet client funds also rose materially. Loans grew modestly sequentially (period-end +$762 million) with record global fund banking production, though management expects some quarter-to-quarter volatility driven by client draw timing and short-term/large deposits. Credit remains manageable: provisions rose to $103 million due mainly to timing, net charge-offs improved slightly, and a small uptick in nonaccruals was attributed to a few specific credits. NDFI/private credit exposure is sizable but described as conservatively structured (83% capital call lines). Capital deployment has been aggressive: $5.7 billion repurchased to date, $900 million returned this quarter, and continued prepayments on the FDIC purchase-money note ($2.5 billion this quarter; plan to continue $500M–$1B/month). Management lowered its CET1 target range to 10.0%–10.5% while noting an expected 70–100 bps benefit from the March Basel III proposal. Guidance highlights: Q2 loans $149B–$152B, Q2 deposits $171B–$174B, Q2 NII $1.60B–$1.67B and full-year NII $6.5B–$6.8B; full-year noninterest income raised to $2.12B–$2.22B; full-year expense range narrowed to $5.34B–$5.43B and efficiency ratio expected in the low-60s for 2026. Management emphasized disciplined capital and liquidity management, a slower repurchase pace as CET1 approaches target, continued investment in technology and a strategic brand unification (innovation banking and fund banking sub-brands) to drive longer-term growth.