First Citizens Bancshares Stock Earnings Reports

First Citizens reported solid Q1 2026 results despite a headwind from lower interest rates. Adjusted EPS was $44.86 with adjusted ROE and ROA of 10.39% and 0.97%. Net interest income and NIM declined (NIM to 3.09%) driven by the Fed rate cuts and a shorter quarter, but lower noninterest expense (-$38M sequential) partially offset the NII pressure. Deposits accelerated, rising $9.3B (5.7% seq.), led by tech/health care and Global Fund Banking; off-balance-sheet client funds also grew strongly (+$8.1B to ~$78B). Loan balances were up modestly (period-end +$762M) with record Global Fund Banking production (> $6B). Credit remains controlled: provision was $103M, net charge-offs $111M (30 bps), and the increase in nonaccruals was isolated to a few credits. The company disclosed NDFI exposure of $38.8B but emphasized that 83% are capital call lines with contractual LP commitments. Capital actions: management has repurchased $5.7B (~20%+ of shares) to date, returned $900M this quarter, and prepaid $2.5B on the FDIC promissory note this quarter (total prepayments $5.5B to date). They lowered their CET1 target range by 50 bps to 10.0%–10.5% to balance growth and returns, and expect to moderate repurchase pace as they approach that range. Guidance highlights: Q2 loans $149B–$152B, Q2 deposits $171B–$174B, Q2 NII $1.60B–$1.67B and full-year NII $6.5B–$6.8B, Q2 noninterest income $520M–$550M (FY raised to $2.12B–$2.22B), Q2 expenses $1.34B–$1.38B (FY expenses narrowed to $5.34B–$5.43B), and full-year net charge-offs narrowed to 30–40 bps. Management reiterated confidence in its strategy (brand consolidation, investment in payments/international/digital assets) while emphasizing disciplined capital, liquidity and expense management amid a competitive deposit environment.