First Citizens BancShares (FCNCA) Q4 2025 earnings summary

Executive summary

• Adjusted EPS for Q4 2025 was $51.27, with adjusted ROE of 11.93% and adjusted ROA of 1.1%, exceeding expectations despite lower rates and competitive pressures.

• Strategic priorities for 2026 include deepening client relationships, talent development, balance sheet optimization, and franchise investment.

• Organizational simplification and digital investments in 2025 improved customer support and operational efficiency.

• Leadership transition announced: Chief Risk Officer Lorie Rupp to retire in June 2026, succeeded by Tom Eklund.

• Announced acquisition of 138 BMO Bank branches, expecting to assume $5.7 billion in deposits and $1.1 billion in loans, closing in H2 2026.

Financial highlights

• Adjusted net income for Q4 was $648 million, up $6.65 per share sequentially, driven by lower provision for credit losses and improved macro outlook.

• Tangible book value per share grew 11% year-over-year and 3% sequentially.

• Net interest income was $1.72 billion, down $12 million sequentially; net interest margin at 3.20%, down six basis points.

• Adjusted non-interest income rose 2% sequentially, led by rental and wealth management income; noninterest expense increased 7.1% due to higher personnel and technology costs.

• Loans and leases grew to $147.93 billion, up 2.2% from Q3 2025; deposits declined 1.0% to $161.58 billion.

Outlook and guidance

• Q1 2026 loans expected in $148B-$151B range; full-year loans projected at $153B-$157B.

• Q1 2026 deposits expected at $164B-$167B; full-year deposits projected at $181B-$186B, including BMO acquisition impact.

• Headline net interest income for Q1 2026 guided at $1.6B-$1.7B; full-year at $6.5B-$6.9B.

• Adjusted non-interest income for Q1 2026 guided at $500M-$530M; full-year at $2.1B-$2.2B.

• Adjusted non-interest expense for Q1 2026 guided at $1.34B-$1.38B; full-year at $5.37B-$5.46B.