First Citizens BancShares Q1 Earnings Exceed Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 23 2026
0mins
Should l Buy FCNCA?
Source: seekingalpha
- Earnings Beat: First Citizens BancShares reported a Q1 non-GAAP EPS of $44.86, exceeding expectations by $5.63, indicating strong profitability that may boost investor confidence.
- Slight Revenue Decline: The bank's revenue of $2.31 billion, down 2.1% year-over-year, still surpassed market expectations by $110 million, demonstrating relative stability in income amidst challenging conditions.
- Increased Credit Loss Reserves: The provision for credit losses totaled $72 million this quarter, up from $54 million in the previous quarter, reflecting a cautious approach to potential credit risks that could impact future profitability.
- Stable Capital Ratios: As of March 31, 2026, the estimated total risk-based capital ratio stood at 13.51%, indicating a robust capital structure that enhances market confidence in the bank's financial health.
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Analyst Views on FCNCA
Wall Street analysts forecast FCNCA stock price to rise
8 Analyst Rating
4 Buy
4 Hold
0 Sell
Moderate Buy
Current: 1954.450
Low
2000
Averages
2270
High
2500
Current: 1954.450
Low
2000
Averages
2270
High
2500
About FCNCA
First Citizens BancShares, Inc. is the financial holding company for First-Citizens Bank & Trust Company (First Citizens Bank). The Company’s General Bank segment delivers products and services to consumers and businesses through its network of branches and various digital channels. It offers a full suite of deposit products, loans, cash management, private banking and wealth management, payment services, and treasury services. The Commercial Bank segment provides a range of lending, leasing, capital markets, asset management, and other financial and advisory services, primarily to small and middle market companies. The SVB Commercial segment offers products and services to commercial clients and investors across stages, sectors and regions in the innovation ecosystem, as well as private equity and venture capital firms. The Rail segment offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers throughout North America.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Slight Revenue Decline: The bank's revenue of $2.31 billion, down 2.1% year-over-year, still surpassed market expectations by $110 million, demonstrating relative stability in income amidst challenging conditions.
- Increased Credit Loss Reserves: The provision for credit losses totaled $72 million this quarter, up from $54 million in the previous quarter, reflecting a cautious approach to potential credit risks that could impact future profitability.
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See More
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- Maintaining Customer Experience: Despite the name changes, First Citizens Bank is committed to continuing to provide customized banking services, ensuring that clients receive a consistent high-quality experience through interactions with Relationship Managers and Advisors, thereby reinforcing its leadership position in the innovation economy.
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- Portfolio Expansion: This financing supports the construction and late-stage development of 146 megawatts of community solar assets in Illinois, New Jersey, Maryland, and Minnesota, with future expansions planned for Pennsylvania, Virginia, and New York, thereby strengthening the company's competitive position in the distributed generation market.
- Flexible Financing Structure: Unlike traditional discrete financing models, this revolving structure allows for continuous capital deployment across multiple projects and geographies, optimizing operational efficiency at both project and portfolio levels, thus accelerating the speed at which new capacity can be brought online.
- Demand-Driven Market: As demand for power surges due to data centers and electrification, distributed infrastructure emerges as an effective means to deliver new electricity, with Solar Landscape's development model helping to reduce electricity costs while providing new capacity directly within existing utility footprints, addressing the growing power needs.
See More
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- Credit Facility Expansion: Parafin has successfully upsized its credit facility in collaboration with Silicon Valley Bank, EverBank, and Trinity Capital, increasing its borrowing capacity beyond the previous $125 million, which is expected to enhance financing flexibility for small businesses.
- Small Business Financing Demand: To date, Parafin has funded over $2 billion to nearly 50,000 small businesses, with a high rate of repeat borrowing indicating sustained demand for its products, highlighting the critical role embedded finance plays in addressing cash flow challenges.
- Strategic Partnerships: The involvement of EverBank and Trinity Capital not only strengthens Parafin's credit support but also reflects these financial institutions' confidence in Parafin's growth potential, further solidifying its leadership position in the embedded finance sector.
- Market Impact: CEO Sahill Poddar emphasized that addressing small business financing challenges is central to the company's mission, and this credit facility expansion will enable Parafin to better serve small businesses, helping them grow amid economic uncertainties.
See More
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Cerebras Systems: Cerebras Systems has made significant advancements in AI hardware, particularly with its Wafer Scale Engine technology, which enhances computational capabilities for AI applications.
Funding and Partnerships: The company has secured partnerships with major financial institutions, including MUFG and First Citizens Capital Securities, to bolster its underwriting capabilities and expand its market reach.
Market Impact: The integration of Cerebras' technology into financial services is expected to improve efficiency and performance in data processing and analysis, benefiting various sectors.
Future Prospects: With ongoing innovations and strategic collaborations, Cerebras Systems is positioned to play a pivotal role in the evolution of AI and machine learning technologies across industries.
See More
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- Earnings Performance: First Citizens BancShares reported adjusted earnings per share of $44.86 for Q1 2026, with net income reaching $560 million, reflecting positive outcomes in capital optimization and increased client activity, despite a decline in net interest income by $101 million and a compression in net interest margin to 3.09%.
- Deposit Growth: Deposits grew by 5.7% sequentially this quarter, reaching between $171 billion and $174 billion, primarily driven by increased client activity in the Tech and Healthcare sectors, indicating the company's successful strategy in attracting client deposits.
- Capital Repurchase: The company returned $900 million to shareholders through share repurchases, although management anticipates a slower pace for buybacks in the coming months, reflecting a cautious approach to capital management that may impact short-term shareholder returns.
- Strategic Transition: First Citizens plans to transition to a united brand structure in Q4, launching innovation banking and fund banking sub-brands, aimed at enhancing client service capabilities and driving business growth, demonstrating the company's forward-looking strategy in a competitive market.
See More
First Citizens BancShares Q1 Earnings Exceed Expectations
- Earnings Beat: First Citizens BancShares reported a Q1 non-GAAP EPS of $44.86, exceeding expectations by $5.63, indicating strong profitability that may boost investor confidence.
- Slight Revenue Decline: The bank's revenue of $2.31 billion, down 2.1% year-over-year, still surpassed market expectations by $110 million, demonstrating relative stability in income amidst challenging conditions.
- Increased Credit Loss Reserves: The provision for credit losses totaled $72 million this quarter, up from $54 million in the previous quarter, reflecting a cautious approach to potential credit risks that could impact future profitability.
- Stable Capital Ratios: As of March 31, 2026, the estimated total risk-based capital ratio stood at 13.51%, indicating a robust capital structure that enhances market confidence in the bank's financial health.
See More
First Citizens Bank Announces Brand Rebranding Strategy
- Brand Rebranding Plan: First Citizens Bank plans to rebrand Silicon Valley Bank and its related divisions as First Citizens Innovation Banking and First Citizens Fund Banking in Q4 2026, aiming to enhance customer experience and market recognition through unified branding.
- Expansion of Commercial Banking Capabilities: The bank will expand its capabilities in cryptocurrency, payments, and international banking, demonstrating a long-term commitment to the innovation economy and private equity sector, which is expected to further strengthen its market competitiveness.
- Maintaining Customer Experience: Despite the name changes, First Citizens Bank is committed to continuing to provide customized banking services, ensuring that clients receive a consistent high-quality experience through interactions with Relationship Managers and Advisors, thereby reinforcing its leadership position in the innovation economy.
- Advertising Campaign Launch: The bank will launch a new advertising campaign titled “The Best of Bank Worlds” in May 2026, aimed at enhancing brand recognition and attracting more clients, showcasing its market influence in innovation hubs.
See More
