$FCNCA · FIRST CITIZENS BANCSHARES INC /DE/
First Citizens BancShares filed its Q3 2026 10-Q. Net income was $606M ($51.23 diluted EPS) versus $568M ($43.08) a year earlier, with net income available to common stockholders of $577M. Net interest income declined to $1,699M from $1,734M as NIM compressed to 3.07% from 3.26%. The provision for credit losses fell sharply to $55M from $191M. The company repurchased 278,828 Class A shares for $606M during the quarter.
- Net income $606M, up from $568M; diluted EPS $51.23 vs $43.08.
- Net interest margin fell to 3.07% from 3.26% year over year.
- Provision for credit losses dropped to $55M from $191M.
- Repurchased 278,828 Class A shares for $606M in Q3.
- ALLL fell to $1.44B from $1.57B after model enhancements.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
Earnings growth driven by lower credit costs and buybacks, but shrinking NIM and a large AOCI loss signal balance-sheet pressure.
NIM compression to 3.07% reflects the broader regional-bank funding-cost squeeze as deposit costs rise, though the sharp drop in credit provisioning contrasts with peers still building reserves.
AOCI swung to a $796M loss from $83M income on unrealized AFS securities losses, pressuring tangible book value. The $36.07B FDIC Purchase Money Note maturing March 27, 2028 remains a funding-cost overhang.