First Citizens BancShares (FCNCA) Earnings Date & Reports

First Citizens BancShares posted net income of $534 million for the first quarter ended March 31, 2026, compared to $580 million in the prior quarter. Diluted EPS came in at $42.63, exceeding analyst consensus of about $39.00 to $39.62, while adjusted EPS reached $44.86. Net interest income declined $101 million to $1.62 billion, pressured by a 11 basis point drop in NIM to 3.09%, partly offset by deposit growth. Noninterest income fell to $692 million from $715 million.

Provision for credit losses rose to $72 million from $54 million, though net charge-offs (NCOs) improved to 0.30% of average loans from 0.39%. Deposits hit $170.8 billion, up 5.7% linked-quarter, with noninterest-bearing deposits comprising 25.5%. Loans grew 0.5% to $148.7 billion. The company prepaid $2.5 billion of its Purchase Money Note and repurchased shares worth $900 million, bolstering its CET1 (Common Equity Tier 1) ratio to 10.83%.

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Market Reaction and Investor Sentiment

Despite the EPS beat, FCNCA shares dipped around 2% in pre-market trading following the release, as investors focused on the revenue shortfall—total revenues of approximately $2.31 billion versus expectations near $2.17 billion to $2.20 billion—and ongoing NIM compression. Sentiment remains cautiously optimistic, buoyed by robust deposit inflows and capital strength, but tempered by margin pressures and slower loan growth amid a flat yield curve.

Forward Outlook and Key Factors to Monitor

First Citizens BancShares provided detailed guidance for 2026, projecting end-of-year loans of $153 billion to $157 billion and deposits of $181 billion to $186 billion. Full-year net interest income is expected at $6.5 billion to $6.8 billion, assuming zero to two 25 basis point rate cuts, with Fed funds ending between 3.00% and 3.75%.

Investors should track deposit betas, which management estimates at 35%-40% cumulatively over 12 months, and NIM stabilization. Credit quality remains a focus, with NCO guidance of 30 to 40 basis points and stable nonaccrual rates around 1%.

Expense discipline is evident, with adjusted noninterest expenses guided to $5.34 billion to $5.43 billion for the year. Ongoing share repurchases under the 2025 program and potential branch acquisitions, such as 138 from BMO, could drive growth. Broader risks include interest rate volatility, regulatory changes, and economic headwinds like tariffs.

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