# FCNCA earnings call intelligence

LOPJLB CallCard / temporal rollup · freemium · [stock page](https://www.lopjlb.com/stock/FCNCA) · [Earnings tab](https://www.lopjlb.com/stock/FCNCA?tab=earnings)

Updated: 2026-10-23T07:45:07

Quarters analyzed: 8

## Cross-quarter narrative

Across eight earnings calls from Q3 2024 to Q1 2026, First Citizens shifted from a focus on rebuilding risk frameworks and stabilizing deposits toward aggressive capital returns and integration of new businesses. Deposit inflows remained a core strength, but competition from fintechs and rising deposit‑beta costs surfaced as a persistent headwind. Loan growth stayed modest, with occasional short‑term volatility in the Global Fund Banking line and a brief dip in Q3 2024, while net interest margin gradually compressed as Fed rate cuts lowered loan yields. The share‑repurchase program accelerated, moving from initial execution in late 2024 to multi‑billion‑dollar commitments by 2025‑26. Technology and risk‑management projects progressed on schedule, yet expense pressure is expected as they ramp up. Credit‑quality concerns—commercial‑real‑estate charge‑offs, venture‑capital exposure, and equipment‑finance stress—recurred, though some early VC‑related worries faded. Macro‑economic uncertainty and interest‑rate risk were constant themes, amplified by tariff and geopolitical chatter later in the period. Overall, the narrative reflects a company balancing steady deposit growth, disciplined capital deployment, and ongoing credit‑risk vigilance amid a fluid macro backdrop.

## Latest CallCard · Q2

**Guidance:** vague

**Tone:** mgmt 0 · Q&A pressure 0 · divergence 0

## Quarter one-liners

- **2026 Q2:** —
- **2026 Q1:** First Citizens posted $44.86 adjusted EPS, saw 5.7% sequential deposit growth, but lower rates compressed NIM; management stays optimistic while noting intense deposit competition and macro uncertainty.
- **2025 Q4:** —
- **2025 Q3:** First Citizens posted solid Q3 results with 2.5% loan growth, stable NIM, $900M share repurchases and a 7th straight quarter of deposit gains, while flagging macro uncertainty and a one‑off $82M charge‑off.
- **2025 Q2:** First Citizens posted solid Q2 earnings with low charge‑offs, modest loan growth, strong capital, and an optimistic outlook despite macro uncertainty and competitive pressure.
- **2025 Q1:** First Citizens delivered solid Q1 results in line with guidance, saw loan and deposit growth, repurchased $613M of stock, terminated its FDIC loss‑share agreement, but flagged macro volatility and rate‑cut pressure without changing guidance.
- **2024 Q4:** First Citizens posted Q4 earnings above expectations, highlighted loan and deposit growth, continued share buybacks, and outlined 2025 targets amid modest macro uncertainty.
- **2024 Q3:** FCNCA Q3 2024: strong adjusted EPS $45.87, resilient NIM, deposit growth in General Bank and SVB Commercial, loan decline from Global Fund Banking repayments, $700M share repurchases, full-year NII guidance lowered.

## Theme arcs

- **Deposit growth** (stable): Consistently strong inflows, but emerging competition and outflows noted in 2025‑26
- **Loan growth** (stable): Modest sequential increases, with occasional volatility in Global Fund Banking balances
- **Net interest margin** (deteriorating): Sequential contractions each quarter as rate cuts compress yields
- **Share repurchase execution** (improving): Program expanded from initial $969M in 2024 to $4B target by 2025‑26
- **Technology & risk projects** (new): Rollout began in Q4 2024 and stayed on track, though expense rise expected later
- **Macro‑economic uncertainty** (stable): Repeatedly flagged as a risk factor across all calls
- **Credit quality risk** (deteriorating): Recurring concerns around commercial‑real‑estate, VC exposure, and equipment‑finance losses
- **Competitive deposit pricing** (deteriorating): Intense competition from neobanks and fintechs raised deposit‑beta costs
- **Regulatory readiness (Category 3)** (stable): On‑track throughout the period

## Fear persistence

- **Commercial real‑estate credit risk** [recurring]: Elevated charge‑offs noted from Q3 2024 through Q3 2025
- **Venture‑capital portfolio stress** [resolved]: Highlighted in 2024 calls, absent thereafter
- **Deposit competition and pricing pressure** [recurring]: Raised in Q4 2024 and intensified by Q1 2026
- **Macro‑economic uncertainty** [recurring]: Consistently flagged across all periods
- **Interest‑rate risk/compression of NIM** [recurring]: Rate‑cut environment repeatedly cited as margin pressure
- **Regulatory risk** [recurring]: Potential policy shifts noted from Q4 2024 onward
- **Credit quality risk (SVB innovation, equipment finance)** [recurring]: Specific portfolio losses mentioned in 2025‑26
- **Tariff impact** [resolved]: Discussed in 2025 Q2‑Q3, not mentioned later
- **Geopolitical risk** [new]: First appears in 2026 Q1

## Guidance path

2024 Q3:lowered → 2024 Q4:maintained → 2025 Q1:maintained → 2025 Q2:maintained → 2025 Q3:maintained → 2025 Q4:vague → 2026 Q1:maintained → 2026 Q2:vague

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Research context only. Not personalized investment advice.

API: `GET /bff/api/bigfive/earnings-intel/FCNCA`