US regional banks seen booking more commercial property losses, loan sales [Reuters]
First Citizens BancShares, Inc. - Class A (FCNCA)
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Source: Reuters
property loans as the sector remains under pressure a year after the collapse of Silicon Valley Bank and Signature Bank. Most multifamily loans are made by regional banks, so when New York Community Bank (NYCB.N) New Tab , opens new tab posted a surprise fourth-quarter loss it intensified fears about the industry's exposure to commercial real estate. Multifamily properties with more than five units are a major concern, especially since the bank had booked losses on its real estate portfolio. Scrutiny of regional banks has increased after Silicon Valley Bank's collapse prompted by high borrowing costs that exceeded its income from low-rate loans following the Federal Reserve's aggressive rate hikes since March 2022. Many banks have unrealized losses on securities portfolios, including mortgage-backed paper. A slew of regional banks report first-quarter earnings starting April 16. "I expect to see more of a reserve buildup," said Stephen Buschbom, research director at consul
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FCNCA
News
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- 3 Reasons Growth Investors Will Love First Citizens (FCNCA) [Yahoo! Finance]Yahoo! Finance
- Is First Citizens BancShares (FCNCA) a Great Value Stock Right Now? [Yahoo! Finance]Yahoo! Finance
- First Citizens BancShares, Inc. (NASDAQ: FCNCA) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
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