First Citizens BancShares Reports Second Quarter 2026 Earnings
First Citizens BancShares, Inc. released its financial results for the second quarter of 2026. The company reported a net income of $672 million, with earnings per common share reaching $55.52.
RALEIGH, N.C. – First Citizens BancShares, Inc. (Nasdaq: FCNCA) announced its financial results for the second quarter of 2026 on July 23, 2026. The company posted a net income of $672 million, a substantial increase from the previous quarter. Earnings per common share rose to $55.52.
Chairman and CEO Frank B. Holding, Jr. cited balanced loan and deposit growth, resilient credit quality, and disciplined expense management for the quarter's performance. The company returned $600 million to stockholders through share repurchases and further balance sheet optimization during the period.
The acquisition of 138 branches from BMO Bank N.A. is progressing, with completion expected in the third quarter of 2026. First Citizens Bank anticipates assuming approximately $5.3 billion in deposits and acquiring approximately $700 million in loans through this transaction.
Net interest income for the quarter stood at $1.66 billion, contributing to the earnings growth. Noninterest income increased to $776 million, driven by factors including changes in the fair value of derivatives and gains on the sale of tax credit investments. Operating expenses saw a modest increase, partly due to investments in digital infrastructure.