First Citizens Q3 2020 Earnings Report
Key Takeaways
First Citizens BancShares reported a net income of $142.7 million for Q3 2020, a 14.3% increase compared to Q3 2019. The company's net interest income also increased by 5.1% to $353.7 million. Total loans grew, and deposits increased by 30.3% on an annualized basis.
Net income for the third quarter of 2020 totaled $142.7 million, up 14.3% compared to Q3 2019.
Net interest income increased to $353.7 million, a 5.1% rise compared to the same quarter in the previous year.
Total loans grew by $3.96 billion since December 31, 2019.
Total deposits increased by $7.82 billion since December 31, 2019.
First Citizens
First Citizens
Forward Guidance
BancShares cancelled its live conference call originally scheduled for October 28, 2020, due to entry into a definitive merger agreement with CIT. There will be a joint conference call to discuss the transaction and third quarter 2020 earnings.