First Citizens BancShares (FCNCA) Q3 2025 earnings summary

Executive summary

• Achieved strong third-quarter results with adjusted EPS of $44.62, adjusted ROE of 10.62%, and adjusted ROA of 1.01%, despite net income for Q3 2025 being $568M, down 1% sequentially and 11% year-over-year.

• Loan and deposit growth was robust across all segments, led by SVB Commercial and Global Fund Banking, with loans at $144.76B and deposits at $163.19B at quarter-end.

• Maintained strong capital and liquidity, supporting $900M in share repurchases in Q3 and the launch of a new $4B repurchase program.

• Announced agreement to acquire 138 BMO Bank branches, adding $5.7B in deposits and $1.1B in loans, with closing expected mid-2026.

• Key drivers of lower earnings included higher provision for credit losses, lower NII, and increased noninterest expense.

Financial highlights

• Adjusted net income was $587M, with adjusted EPS of $44.62; net income for Q3 was $568M, and net income per share was $43.08.

• Net interest income for Q3 was $1.73B, up $39M sequentially but down 3% year-over-year; NIM stable at 3.26%.

• Noninterest income for Q3 was $699M, up 3% sequentially and 8% year-over-year.

• Noninterest expense for Q3 was $1.49B, down 1% sequentially but up 2% year-over-year.

• Net charge-offs were $234M (65 bps), including an $82M charge-off from a single client bankruptcy.

Outlook and guidance

• Q4 loans expected in the $143B–$146B range, with deposit growth focused in General Bank and some decline in SVB Commercial.

• Net interest income for Q4 projected at $1.65B–$1.75B; full-year guidance $6.74B–$6.84B.

• Net charge-offs for Q4 guided to 35–45 bps; full-year range raised to 43–47 bps.

• Adjusted noninterest income for Q4 expected at $480M–$510M; full-year range $1.99B–$2.02B.

• BMO branch acquisition expected to close mid-2026, subject to regulatory approvals.