First Citizens Bancshares Stock Earnings Reports

First Citizens reported strong first quarter 2026 operating results despite a headwind from lower interest rates. Adjusted EPS was $44.86 with adjusted ROE 10.39% and ROA 0.97%. Net interest margin compressed 11 bps to 3.09% and net interest income declined ~$101 million sequentially, but was partially offset by lower noninterest expense (down $38 million) and strong deposit growth (period-end deposits +$9.3 billion, +5.7% sequentially). Loan growth was modest on a period-end basis (+$762 million) but stronger on an average basis (+$2.2 billion), driven by Global Fund Banking (record production >$6 billion). Management pre-paid $2.5 billion on the FDIC promissory note this quarter (total prepayments $5.5 billion to date) and used broker deposits tactically to optimize funding costs. Capital returns continued with $900 million of buybacks this quarter and $5.7 billion repurchased year-to-date; however, management lowered its CET1 target range by 50 bps to 10.0%–10.5% to balance growth and buybacks and expects a moderated buyback pace as they approach that range. Credit remains broadly stable: provision was $103 million, net charge-offs were $111 million (30 bps) and an $8 million reserve release occurred; a slight uptick in nonaccruals was isolated to a few credits. The bank highlighted NDFI/private credit exposure ($38.8 billion) is largely (83%) capital call lines with conservative structures. 2026 guidance: end-2Q loans $149B–$152B (full year $153B–$157B incl. BMO), deposits 2Q $171B–$174B (full year $181B–$186B incl. BMO), 2Q NII $1.60B–$1.67B (full year $6.5B–$6.8B), 2Q noninterest income $520M–$550M (full year raised to $2.12B–$2.22B), 2Q expense $1.34B–$1.38B (full year $5.34B–$5.43B), and full-year net charge-offs revised to 30–40 bps. Management reiterated disciplined capital, liquidity and risk posture while accelerating strategic initiatives (payments, international banking, digital assets) and uniting its brand with sub-brands for innovation and fund banking.