UPDATE 1-First Citizens beats profit estimates, says SVB business stabilized [Yahoo! Finance]
First Citizens BancShares, Inc. - Class A (FCNCA)
US:NASDAQ Investor Relations:
firstcitizens.com/about/who-we-are/annual-report
Company Research
Source: Yahoo! Finance
April 25 (Reuters) - First Citizens BancShares' first-quarter profit beat expectations as the lender earned higher interest income and reaped the benefits of its acquisition of failed Silicon Valley Bank (SVB) last year. Adjusted profit attributable to common stockholders was $769 million, or $52.92 per share, for the three months ended March 31, the bank reported on Thursday, compared with analysts' average estimate of $43.32 per share, according to LSEG. The Raleigh, North Carolina-based lender has been boosted by its buyout of SVB, which collapsed last year. SVB's failure triggered the biggest banking crisis in 15 years and prompted government rescue efforts. "It's been over one year since SVB became part of First Citizens, and we continue to successfully execute on our integration efforts, which are accelerating the momentum of our franchise," CEO Frank Holding Jr. said. For the first time since the acquisition, SVB's loans steadied at $55 billion at the end of March vers
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FCNCA
News
- SVB Financial to Sell Venture Capital Business to Pinegrove [Yahoo! Finance Canada]Yahoo! Finance Canada
- SVB Financial to Sell Venture Capital Business to Pinegrove [Yahoo! Finance]Yahoo! Finance
- SVB Financial to Sell Venture Capital Business to Pinegrove [BNN Bloomberg (Canada)]BNN Bloomberg
- SVB Financial to sell investment platform business SVB Capital [Yahoo! Finance]Yahoo! Finance
- SVB Financial to sell investment platform business SVB Capital [Reuters]Reuters
FCNCA
Earnings
- 4/25/24 - Beat
FCNCA
Sec Filings
- 4/30/24 - Form 4
- 4/26/24 - Form 144
- 4/25/24 - Form 8-K
- FCNCA's page on the SEC website