First Citizens BancShares (FCNCA) Q2 2025 earnings summary

Executive summary

• Delivered strong Q2 2025 results with revenue and net interest income growth, stable credit quality, and robust capital and liquidity positions, supporting significant share repurchases and a new $4.0 billion repurchase plan.

• Adjusted EPS was $44.78, with adjusted ROE of 11.00% and ROA of 1.07%.

• Repurchased $613 million in Class A shares in Q2 2025, totaling $2.89 billion since July 2024; a new $4.0 billion repurchase plan was approved.

• Leadership strengthened with the appointment of Diane Morais to the Board of Directors.

• Strategic priorities remain focused on diversified business lines, client-first approach, and operational efficiency.

Financial highlights

• Net income for Q2 2025 was $575 million, up 19% sequentially; adjusted net income was $607 million, up from $528 million in Q1.

• Net interest income rose to $1.70 billion, up $32 million sequentially; NIM held steady at 3.26%.

• Noninterest income increased 7% sequentially to $678 million, driven by derivatives, investments, and rail business rental income.

• Noninterest expense increased 1% to $1.50 billion, mainly from merit increases and higher professional fees; adjusted noninterest expense was $1.28 billion.

• Tangible book value per share rose 10.4% year-over-year and 2.7% sequentially.

Outlook and guidance

• FY25 loans projected at $143–$146 billion; Q3 guidance at $141B–$144B.

• Deposits expected at $159B–$162B in Q3; full-year guidance revised to $161B–$166B.

• Net interest income guidance for FY25 is $6.68–$6.88 billion.

• Adjusted noninterest income forecasted at $1.97–$2.05 billion; adjusted noninterest expense at $5.10–$5.20 billion.

• Tax rate guidance: 25%–26% for Q3 and full year.