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First Citizens BancShares Income Statement

Revenue, expenses, and profitability over time

First Citizens BancShares generated $9.6B in trailing twelve-month revenue, down 0.0% year-over-year. Net income was $2.3B with a 23.62% net margin. Diluted EPS is $173.61, which declined 0.0% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$9.6BNet Income (TTM)$2.3BEps Diluted (TTM)$173.61
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$24.5B
P/E Ratio10.87
ROE10.18%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisition and integration costs$62M$42M$38M$28M$33M$5M
Compensation and benefits$801M$818M$810M$817M$849M$869M
Depreciation and amortization$16M$15M$13M$13M$13M$13M
Goodwill impairment—$0$0$0—$0
Occupancy and equipment$60M$58M$61M$58M$61M$60M
Other operating expenses$142M$110M$129M$109M$118M$102M
Professional fees$30M$25M$30M$26M$34M$24M
Provision for credit losses$155M$154M$115M$191M$54M$72M
Selling and marketing$24M$32M$32M$33M$45M$30M
Total operating expenses$1.5B$1.5B$1.5B$1.5B$1.6B$1.5B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$49.15$34.47$42.36$43.08$45.54$42.63
Diluted earnings per share$49.15$34.47$42.36$43.08$45.54$42.63
Weighted-average shares, basic14.3M13.6M13.2M12.8M13M11.9M
Weighted-average shares, diluted14.3M13.6M13.2M12.8M13M11.9M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (loss) on extinguishment of debt$0$0$0$0-$9M-$8M
Gain (loss) on disposal of assets—$1M———$0
Interest expense$1.3B$1.2B$1.3B$1.3B$1.2B$1.2B
Interest income$2.3B$2.2B$2.3B$2.3B$2.3B$2.2B
Net investment gains (losses)$10M-$5M$2M$13M$12M$3M
Other income (expense), net$50M$14M$42M$51M$53M$38M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$736M$651M$758M$751M$811M$705M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$36M$168M$183M$183M$231M$171M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$700M$483M$575M$568M$580M$534M
Preferred stock dividends$15M$15M$14M$14M$14M$26M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net interest income$1.7B$1.7B$1.7B$1.7B$1.7B$1.6B
Rental income$272M$270M$272M$273M$281M$281M
Total interest income$3B$2.9B$2.9B$3B$2.9B$2.8B
Total noninterest income$699M$635M$678M$699M$715M$692M
Total revenue$2.4B$2.3B$2.4B$2.4B$2.4B$2.3B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Including Exchange Rate Effect and Discontinued Operation—-$2M$77M——$279M
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months—$7M—$1M$2M$0
Dividends declared (in dollars per share)—$1.95$1.95$1.95—$2.10
Comprehensive Income (Loss), Net of Tax, Attributable to Parent—$729M$660M$638M—$379M
Provision for credit losses$155M$154M$115M$191M$54M$72M
Addition to (release of) the allowance for credit losses on securities that had an allowance recorded in a previous period, for which there was no intent to sell before recovery of amortized cost basis—$0———$1M
Debt Securities, Available-for-Sale, Realized Loss—$2M$0$0—$0
Realized gain$2M$0$0$0$3M$0
Net realized gain on sale of marketable equity securities—$1M$0$0—$0
Write off of accrued interest receivable—$0$0$0—$0
Deferred taxes$133M-$40M-$34M-$30M-$7M$8M
Defined Benefit Plan, Expected Return (Loss) on Plan Assets—$24M$23M$24M—$25M
Interest cost—$16M$16M$16M—$16M
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)—-$6M-$5M-$6M—-$7M
Service cost—$2M$2M$2M—$2M
Depreciation, Amortization and Accretion, Net$94M$93M$100M$91M$121M$180M
Direct Costs Of Leased And Rented Property Or Equipment$55M$58M$55M$67M$64M$65M
Dividend income - marketable equity securities—$1M$1M$0—$1M
Effective tax rates—$0.3$0.2$0.2—$0.2
Equipment$136M$136M$131M$137M$151M$136M
FDIC assessments$33M$38M$38M$38M$27M$38M
Finance Lease Interest Payment On Liability—$0$1M$1M—$1M
Finance Lease Principal Payments—$1M$1M$3M—$2M
Finance Lease Right Of Use Asset Amortization—$1M$2M$3M—$3M
Financing receivable, accrued interest reversed to nonaccrual status$3M$7M$3M$4M—$5M
Net addition to the allowance for credit losses———-$20M—-$8M
Financing receivable, amortization of purchase discount—$84M$75M$71M—$48M
Financing Receivable, Credit Loss, Expense—$148M$111M$214M—$103M
Gross charge-offs—$167M$144M$256M—$132M
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Recovery—$23M$25M$22M—$21M
Loan modifications—$1M$1M$1M—$1M
Subsequently default—$53M$25M$35M—$174M
Amortized Cost$76M$262M$367M$504M—$465M
Prior—$25M$2M$22M—$13M
Revolving Loans—$35M$33M$144M—$53M
Revolving Loans Converted to Term—$1M———$1M
Term loan by year, year 4—$34M$46M$18M—$9M
Term loan by year, year 1—$0$16M$18M—$1M
Term loan by year, year 2—$22M$22M$21M—$21M
Term loan by year, year 3—$39M$22M$29M—$24M
Term loan by year, year 5—$11M$3M$4M—$10M
Percent of total loans—0.2%0.3%0.4%—0.3%
Weighted Average Interest Rate Reduction—2.1%1.0%0.7%—1.3%
Gain on sale of leasing equipment, net$11M$5M$8M$3M$14M$11M
Gain Loss On Sale Of Property Plant Equipment$1M$1M———$0
Net gains/(losses) on sales of loans—$2M$2M$8M$9M$5M
Gain On Sales Of Operating Lease Equipment, Net—$5M$8M$3M—$11M
Gains from sale of other real estate classified as OREO$1M-$8M$1M$8M$1M$1M
Goodwill impairment losses—$0$0$0—$0
Impairment of premises and equipment and other assets—$4M$1M——$0
Income Taxes Paid, Net$9M$40M$131M$118M$26M$51M
Increase (Decrease) in Asset, Held-for-Sale—$297M$381M$333M—$289M
Net increase in demand and other interest-bearing deposits—$5.4B$1.5B$3.4B—$7.3B
Net increase in credit balances of factoring clients—$129M—$265M—$92M
Increase (Decrease) in Other Operating Assets$326M-$24M$265M—$196M$103M
Other liabilities—-$610M$320M-$55M$515M-$680M
Increase (Decrease) in Time Deposits-$874M-$1.3B-$753M-$168M$0$2B
Add - Incremental shares under stock-based compensation plans (in shares)—$0$0$0—$0
Interest and Dividend Income, Operating$3B$2.9B$2.9B$3B$2.9B$2.8B
Interest and Fee Income, Loans and Leases$2.3B$2.2B$2.3B$2.3B$2.3B$2.2B
Interest Expense Borrowings$335M$339M$356M$353M$357M$332M
Interest Expense, Deposits$957M$893M$894M$911M$861M$833M
Deposits at banks$302M$245M$256M$265M$226M$196M
Interest Income (Expense), after Provision for Credit Loss$1.6B$1.5B$1.6B$1.5B$1.7B$1.5B
Interest Income (Expense), Operating$1.7B$1.7B$1.7B$1.7B$1.7B$1.6B
Interest income - taxable investment securities—$413M$418M$432M—$383M
Interest Paid, Excluding Capitalized Interest, Operating Activity$1.1B$1.2B$1.2B$1.2B$1.1B$1.2B
Lease Cost—$24M$25M$25M—$25M
Lease Income—$328M$333M$332M—$338M
Interest income – leveraged leases—$1M$1M$1M—$1M
Marketing$24M$32M$32M$33M$45M$30M
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation$2.6B$4.8B—$2.9B—$6.6B
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation-$3.7B-$4.9B-$562M-$3.8B—-$6.5B
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation$1.1B$98M$859M$916M$1.1B$172M
Noninterest Expense$1.5B$1.5B$1.5B$1.5B$1.6B$1.5B
Total other income$50M$14M$42M$51M$53M$38M
Noninterest Income, Other Miscellaneous—$365M$406M$426M—$411M
Other comprehensive income/(loss) before reclassifications—$249M$85M$70M—-$155M
(Benefit) provision for off-balance sheet credit exposure—$6M$4M-$23M—-$32M
Lease income — operating leases$272M$270M$272M$273M$281M$281M
Operating lease income—$254M$258M$261M—$268M
Operating Lease Payments—$19M$21M$18M—$19M
Operating Lease Variable Lease Income—$16M$14M$12M—$13M
Depreciation expense$101M$98M$100M$98M$102M$101M
Net unrealized debt securities gains (losses), net of tax—$239M$89M$72M—-$139M
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent—$0$3M$1M—$2M
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent—$331M$114M$95M—-$208M
Cash flow hedges—-$12M$0$2M—$19M
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax—$9M-$1M-$2M—-$19M
Change in net unrealized gain (loss) on derivative instruments—$7M-$1M-$1M—-$14M
Cash flow hedges, Gain or (loss) reclassified from accumulated OCI into income—-$3M-$1M$0—$0
Other comprehensive income/(loss)—$246M$85M$70M—-$155M
Other Non-interest Expense, Miscellaneous—$477M$497M$481M—$496M
All other operating activities$12M-$11M-$38M-$5M-$14M$1M
Payments For Proceeds From Loans And Leases$1.9B$1.4B$0$3.7B$4.1B$1.4B
Payment for (Proceeds from) Other Investing Activity$194M$114M$158M$191M$343M$149M
Payments for Repurchase of Common Stock$948M$618M$613M$896M$900M$899M
Payments of Dividends$42M$42M$40M$39M$40M$51M
Payments to Acquire Debt Securities, Available-for-Sale$9.2B$1.9B$1.1B$4.6B$6.5B$2.8B
Payments To Acquire Equipment On Lease$313M$170M$215M$137M$330M$194M
Payments to Acquire Held-to-Maturity Securities$1M$217M$1M$171M$0$59M
Payments to Acquire Property, Plant, and Equipment$128M$103M$126M$238M$243M$141M
Debt issued (Note 13)$0$1.2B—$597M—$497M
Proceeds from issuance of preferred stock$0$0———$390M
Proceeds from Maturities, Prepayments and Calls of Held-to-Maturity Securities$161M$139M$143M$316M$412M$170M
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale$2.4B$894M$2.1B$2.8B$7.2B$1.2B
Proceeds From Payments For In Interest Bearing Deposits In Banks—-$3.3B-$1.5B——-$3.4B
Proceeds From Payments For In Securities Sold Under Agreements To Repurchase-$24M$83M$21M-$48M-$199M-$54M
Change in Securities Purchased under Agreements to Resell—-$187M—$217M—$9M
Sale of investments$798M$1.2B——$2.6B$0
Proceeds From Sale Of Loans Held For Sale$422M$293M$478M$366M$416M$461M
Loans$110M$41M$105M$74M$179M$128M
Proceeds from sales of other real estate owned—$3M$7M$10M—$15M
Proceeds from sales of operating lease equipment—$63M$61M$71M—$55M
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent—$3M———$0
Repayments of Long-Term Debt$102M$1M$351M$3M$2.5B$2.5B
Right Of Use Asset Obtained In Exchange For Operating Lease Liability—$3M$38M$3M—$6M
Interest income on lease receivables—$43M$44M$44M—$42M
Third-party processing fees$57M$63M$63M$67M$75M$93M
Transfer To Other Real Estate-$1M$52M$2M$1M$31M$0
Variable Lease Cost—$7M$5M$4M—$5M
Variable lease income—$14M$16M$14M—$14M

Cost of Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total interest expense (banking)$957M$893M$894M$911M$861M$833M