Loading...
•
Jun 30, 2022
First Citizens Q2 2022 Earnings Report
First Citizens BancShares reported solid results for the second quarter of 2022, marked by strong loan growth and expanded net interest margin.
Key Takeaways
First Citizens BancShares reported second quarter net income available to common stockholders of $238 million, or $14.86 per share. Adjusted net income was $270 million, or $16.86 per share. Loan growth was strong and pre-provision net revenue continued its momentum.
Completed first major customer conversion of the OneWest Bank division and certain CIT treasury management customers.
Board of Directors approved a share repurchase plan to repurchase up to 1.5 million shares of Class A common stock.
Loan growth was strong, with a 13.5% annualized increase.
Net interest margin expanded from 2.73% to 3.04%.
First Citizens
First Citizens
Forward Guidance
No specific forward guidance was provided in the release.