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First Citizens BancShares

American financial services company

First Citizens Bancshares, Inc. is a bank holding company based in Raleigh, North Carolina, and one of the largest banks in the United States.3 From Wikipedia, CC BY-SA 4.0

$2,123.28 up 26.08 (1.24%)Price as of Oct 16, 2026 at 19:58 UTC

Last updated Oct 18, 2026.

Overview

$9.5BRevenue, fiscal 20255
$2.2BNet income, fiscal 20255
Aug 7, 1986Founded1

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  • TickerFCNCA on Nasdaq1
  • Industryeconomics of banking, financial sector, financial services, insurance1
  • HeadquartersRaleigh1
  • Websiteir.firstcitizens.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address4300 Six Forks Road, Raleigh, Nc 276096
  • Filer categoryLarge accelerated filer6

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First Citizens Bank, owned by First Citizens Bancshares, in Murphy, North Carolina
Photo: Harrison Keely, CC BY 4.0, via Wikimedia Commons8

First Citizens Bancshares, Inc. is a bank holding company based in Raleigh, North Carolina, and one of the largest banks in the United States. Its primary subsidiary is First Citizens Bank, which operates over 500 branches in 23 states. A second subsidiary is Silicon Valley Bank, which operates 39 offices in 15 states.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

23.1%Net margin5
-2.2%Revenue growth, 20255
9.9%Return on equity5
1.61×Debt to equity5
$2.2BFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Lending-Related Fees brought in 19% of the revenue First Citizens BancShares broke down this way in fiscal 2025.

  1. Lending-Related Fees$266.0M519%up 4% from 2024
  2. Deposit Fees and Service Charges$241.0M517%up 5% from 2024
  3. Asset Management$229.0M516%up 9% from 2024
  4. Client Investment Service$217.0M515%up 2% from 2024
  5. Credit and Debit Card$158.0M511%down 3% from 2024
  6. International Fees$136.0M510%up 14% from 2024
  7. Factoring Commissions$73.0M55%down 3% from 2024
  8. Insurance Commissions$53.0M54%down 4% from 2024
  9. Merchant Services$52.0M54%up 6% from 2024
Products and services by year
Products and services202320242025
Lending-Related Fees$218.0M$257.0M$266.0M
Deposit Fees and Service Charges$200.0M$230.0M$241.0M
Asset Management$188.0M$211.0M$229.0M
Client Investment Service$157.0M$213.0M$217.0M
Credit and Debit Card$139.0M$163.0M$158.0M
International Fees$91.0M$119.0M$136.0M
Factoring Commissions$82.0M$75.0M$73.0M
Insurance Commissions$54.0M$55.0M$53.0M
Merchant Services$48.0M$49.0M$52.0M

Business segments

Commercial Bank brought in 48% of the revenue First Citizens BancShares broke down this way in fiscal 2025.

  1. Commercial Bank$4.3B548%down 4% from 2024
  2. General Bank$4.0B544%up 11% from 2024
  3. Rail$680.0M58%up 5% from 2024
Business segments by year
Business segments202320242025
Commercial Bank$3.7B$4.5B$4.3B
General Bank$3.1B$3.6B$4.0B
Rail$604.0M$649.0M$680.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs69¢$6.6B
  • Income tax8¢$765.0M
  • Profit23¢$2.2B

Out of $9.5B in revenue.5

Where each dollar of operating cash went, fiscal 2025

  • Capital spending18¢$710.0M
  • Dividends paid4¢$161.0M
  • Share buybacks78¢$3.0B

Out of $2.9B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5

Financial statements

Revenue95$9.5B in 2025+88% since 2022
0$5.0B$10.0B$15.0B$20.0B2022: $5.1B$5.1B20222023: $18.8B$18.8B2023+270%2024: $9.8B$9.8B2024−48%2025: $9.5B$9.5B2025−2%
Net income1011121395$2.2B in 2025+451% since 2018
0$5.0B$10.0B$15.0B2018: $400.3M$400.3M20182019: $457.4M$457.4M2019+14%2020: $492.0M$492.0M2020+8%2021: $547.0M$547.0M2021+11%2022: $1.1B$1.1B2022+101%2023: $11.5B$11.5B2023+944%2024: $2.8B$2.8B2024−76%2025: $2.2B$2.2B2025−21%

Every line of the income statement in the latest annual report, as filed.5

Period ending2025-12-312024-12-312023-12-31
Loans and leases$9.1B$9.5B$8.2B
Investment securities$1.7B$1.3B$648.0M
Deposits at banks$992.0M$1.5B$1.6B
Total interest income$11.8B$12.4B$10.4B
Deposits$3.6B$3.9B$2.5B
Borrowings$1.4B$1.3B$1.2B
Total interest expense$5.0B$5.2B$3.7B
Net interest income$6.8B$7.1B$6.7B
Provision for credit losses$514.0M$431.0M$1.4B
Net interest income after provision for credit losses$6.3B$6.7B$5.3B
Rental income on operating lease equipment$1.1B$1.0B$971.0M
Realized gain (loss) on sale of investment securities, net$3.0M$6.0M-$26.0M
Fair value adjustment on marketable equity securities, net$22.0M$13.0M-$11.0M
Gain on sale of leasing equipment, net$30.0M$30.0M$20.0M
Gain on acquisition$0$0$9.8B
Loss on extinguishment of debt-$9.0M-$2.0M$0
Other noninterest income$160.0M$148.0M$136.0M
Total noninterest income$2.7B$2.6B$12.1B
Depreciation on operating lease equipment$398.0M$394.0M$371.0M
Maintenance and other operating lease expenses$244.0M$219.0M$222.0M
Personnel cost$3.3B$3.1B$2.6B
Net occupancy expense$238.0M$242.0M$244.0M
Equipment expense$555.0M$504.0M$422.0M
Professional fees$115.0M$121.0M$71.0M
Third-party processing fees$268.0M$230.0M$205.0M
FDIC insurance expense$141.0M$138.0M$158.0M
Marketing expense$142.0M$76.0M$102.0M
Acquisition-related expenses$141.0M$210.0M$470.0M
Intangible asset amortization$54.0M$63.0M$57.0M
Other noninterest expense$466.0M$460.0M$377.0M
Total noninterest expense$6.1B$5.7B$5.3B
Income before income taxes$3.0B$3.6B$12.1B
Income tax expense$765.0M$815.0M$611.0M
Net income$2.2B$2.8B$11.5B
Preferred stock dividends$57.0M$61.0M$59.0M
Net income available to common stockholders, basic$2.1B$2.7B$11.4B
Net income available to common shareholders, diluted$2.1B$2.7B$11.4B
Basic (in dollars per share)$165.24$189.42$785.14
Diluted (in dollars per share)$165.24$189.41$784.51
Basic (in shares)13.0M shares14.3M shares14.5M shares
Diluted (in shares)13.0M shares14.3M shares14.5M shares

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The story

The bank opened on March 1, 1898, as Bank of Smithfield. It evolved into First National Bank of Smithfield and merged with Citizens National Bank to become First and Citizens National Bank. In 1929, it changed its name to First Citizens Bank and Trust Company. In 1986, it reorganized as a holding company, First Citizens BancShares, Inc. As of 2024, it is the 15th largest bank in the United States, with $221 billion in assets and $152 billion in deposits and $88 billion in liquidity.

First Citizens Bancshares made its debut on the Fortune 500 list in 2024, ranking 182nd overall. The bank was also named by American Banker in 2024 as the top-performing large bank, among banks with at least $50 billion of assets.

From Wikipedia’s article on First Citizens BancShares, shared under CC BY-SA 4.0.7

Leadership

Who has led First Citizens BancShares, and when. Pick a name to see everywhere that person has worked.

Chair

  1. Lewis R. Holding2007–2009
  2. Ellen R. Alemany2023

President

  1. Edward L. Willingham Iv.2009–2011
  2. Peter M. Bristow2014–now

Chief financial officer

  1. Craig L. Nix2018–now
1990200020102020
Board members and other officers (47)

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. 2022CIT Group became a subsidiary1
  2. Aug 7, 1986First Citizens Bank became a subsidiary1

Timeline

  1. Aug 7, 1986Founded Founded1

Recent filings

  1. Sep 17, 20264
  2. Sep 15, 2026144
  3. Sep 14, 20268-K
  4. Sep 10, 2026424B5
  5. Sep 9, 2026424B5
  6. Sep 9, 2026FWP
  7. Sep 8, 20268-K
  8. Aug 20, 20264
  9. Aug 17, 2026144
  10. Aug 11, 2026SCHEDULE 13D/A
  11. Aug 7, 202610-Q
  12. Jul 23, 20268-K
  13. Jul 15, 20263
  14. Jun 8, 20264
  15. Jun 8, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

The numbers on this page point here. Each one links to the record it came from.

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