# FCNCO earnings call intelligence

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

Updated: 2026-10-23T07:06:24

Quarters analyzed: 8

## Cross-quarter narrative

Across the eight reporting periods, First Citizens displayed a trajectory of strong earnings momentum, with adjusted EPS climbing from $45.87 in Q3 2024 to $51.27 in Q4 2025 and a 20%+ sequential jump in Q2 2026. Net interest margin held relatively steady, slipping modestly in Q4 2024 and Q4 2025 but remaining resilient overall. Loan growth accelerated in early 2025, softened to modest guidance in Q2 2025, then rebounded with 2.5% growth in Q3 2025 and outpaced deposits in Q4 2025. Deposit dynamics shifted from mixed growth and stability in 2024 to modest increases and occasional outflows, especially in SVB‑related accounts. Credit quality improved in mid‑2025 with low charge‑offs, yet recurring concerns over office, investor‑dependent and SVB portfolios persisted. Macro uncertainty and rate‑cut outlook remained a constant backdrop, while competitive pressure on margins and deposit betas emerged in 2025. The share‑repurchase program stayed active, supporting CET1 targets, but technology and risk‑project execution slipped, moving from on‑track to delayed. Regulatory readiness and capital rule uncertainty lingered, and new risks such as tariff exposure, equipment‑finance stress, and liquidity pressures surfaced later in the series.

## Latest CallCard · Q2

FCNCO Q2 2026: Strong earnings beat with 20%+ sequential adjusted EPS growth, loan/deposit growth, FDIC note prepayment acceleration, maintained full-year guidance with raised noninterest income outlook, credit quality resilient, share buybacks moderating.

**Guidance:** vague

**Tone:** mgmt 0.8 · Q&A pressure 0 · divergence 0

## Quarter one-liners

- **2026 Q2:** FCNCO Q2 2026: Strong earnings beat with 20%+ sequential adjusted EPS growth, loan/deposit growth, FDIC note prepayment acceleration, maintained full-year guidance with raised noninterest income outlook, credit quality resilient, share buybacks moderating.
- **2026 Q1:** —
- **2025 Q4:** First Citizens BancShares posted Q4 2025 adjusted EPS of $51.27, saw loan growth outpace deposits, returned $900M via share repurchases, and outlined 2026 priorities around client relationships, talent, balance‑sheet optimization and technology investments.
- **2025 Q3:** First Citizens posted solid Q3 results with 2.5% loan growth, stable NIM, $900M share buyback and announced a BMO branch acquisition, while noting macro uncertainty and credit‑loss exposure.
- **2025 Q2:** First Citizens posted solid Q2 earnings with net interest income growth, low charge‑offs and a new $4 bn share‑repurchase plan, but cites macro uncertainty and competitive pressure on deposits and loans.
- **2025 Q1:** —
- **2024 Q4:** First Citizens posted strong Q4 earnings with EPS $45.10, loan and deposit growth, but warns of macro headwinds, rate‑cut uncertainty and credit‑loss pressures.
- **2024 Q3:** FCNCO Q3 2024: strong adjusted EPS $45.87, NIM resilient, deposit growth in General Bank and SVB Commercial, loan decline due to Global Fund Banking repayments, share repurchase $700M in Q3, full-year NII guidance lowered.

## Theme arcs

- **Earnings momentum** (improving): Adjusted EPS rose consistently, culminating in a >20% sequential increase in Q2 2026.
- **Net interest margin** (stable): NIM contracted modestly in Q4 2024 and Q4 2025 but remained broadly stable.
- **Loan and deposit growth** (improving): Loan growth rebounded after modest guidance, outpacing deposits by Q4 2025.
- **Macro environment** (deteriorating): Persistent macro and rate‑cut uncertainty cited in every quarter after Q4 2024.
- **Credit quality** (stable): Low charge‑offs in Q2 2025 but recurring credit‑risk themes persisted.
- **Competitive pressure** (new): First noted in Q2 2025, pressure on spreads and deposit betas intensified.
- **Technology execution** (deteriorating): Initial on‑track status shifted to delayed rollouts in late 2025.
- **Regulatory capital management** (stable): Ongoing CET1 target pursuit amid capital‑rule uncertainty.

## Fear persistence

- **Credit risk** [recurring]: Elevated charge‑offs in office, investor‑dependent and SVB portfolios cited repeatedly.

## Guidance path

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

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Research context only. Not personalized investment advice.

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