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, marking the seventh consecutive quarter of deposit increases.

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

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

• Continued progress on strategic initiatives, including platform integration, digital improvements, and operational efficiency.

Financial highlights

• Adjusted net income was $587M, with adjusted EPS of $44.62; reported net income was $568M and EPS $43.08.

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

• Loans increased $3.5B (2.5%) and deposits $3.3B (2.0%) from the prior quarter, with loans and leases at $144.76B and deposits at $163.19B at quarter-end.

• Noninterest income for Q3 was $699M, up 3% sequentially and 8% year-over-year; noninterest expense was $1.49B, down 1% sequentially but up 2% year-over-year.

• Tangible book value per share increased 8% year-over-year and 2% sequentially, despite $4B in share repurchases since July 2024.

Outlook and guidance

• Q4 2025 loans and deposits projected at $143B–$146B and $161B–$165B, respectively.

• Net interest income for Q4 expected between $1.65B–$1.75B; full-year guidance tightened to $6.74B–$6.84B.

• Net charge-off ratio forecasted at 35–45 bps for Q4, 43–47 bps for the full year.

• 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.