First Citizens BancShares (FCNCA) Q1 2026 earnings summary

Executive summary

• Q1 2026 saw loan and deposit growth, resilient credit quality, and return metrics exceeding expectations, with adjusted EPS of $44.86 and adjusted ROE of 10.39%.

• $900 million was returned to shareholders via share repurchases, totaling $5.7 billion since July 2024; $2.5 billion of the Purchase Money Note was prepaid.

• Capital and liquidity positions remain strong, with CET1 at 10.83% and liquid assets at $60.72 billion.

• Strategic brand unification and expansion in payments, international banking, and digital assets announced.

• Issued $400 million in preferred stock and $500 million in senior notes in Q1 2026.

Financial highlights

• Net income for Q1 2026 was $534 million, with adjusted net income of $560 million; adjusted EPS was $44.86.

• Net interest income was $1.62 billion, down $101 million sequentially; NIM was 3.09%, down 11 bps.

• Noninterest income was $692 million, up 9% YoY; noninterest expense was $1.54 billion, up 3% YoY but down 2% sequentially.

• Provision for credit losses was $72 million, down 53% YoY; net charge-offs were $111 million (0.30% of average loans), down $33 million YoY.

• Loans and leases grew 1% to $148.7 billion; deposits rose 6% to $170.8 billion.

Outlook and guidance

• Loans expected at $149–$152 billion for Q2 and $153–$157 billion for full year (includes BMO acquisition); deposits projected at $171–$174 billion for Q2 and $181–$186 billion for full year.

• Net interest income expected at $1.6–$1.67 billion for Q2 and $6.5–$6.8 billion for full year.

• Net charge-off ratio forecasted at 30–40 bps for FY26.

• Adjusted noninterest income and expense projected at $2.12–$2.22 billion and $5.34–$5.43 billion, respectively.

• Management expects monthly prepayments of at least $500 million on the Purchase Money Note throughout 2026.