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Sep 30, 2021
First Citizens Q3 2021 Earnings Report
Reported earnings for the third quarter of 2021, with net income decreasing compared to the same quarter in 2020.
Key Takeaways
First Citizens BancShares reported a net income of $124.1 million for Q3 2021, a decrease of 13.0% compared to Q3 2020. The net interest margin was 2.61%, down 45 basis points from the previous year. Total deposits grew to $50.1 billion, an increase of 20.4% on an annualized basis since December 31, 2020.
Net income was $124.1 million, a decrease of 13.0% compared to the same quarter in 2020.
Net interest margin was 2.61%, down 45 basis points from the comparable quarter in 2020.
Total loans were $32.5 billion, a decrease of 1.1% on an annualized basis since December 31, 2020.
Total deposits grew to $50.1 billion, an increase of 20.4% on an annualized basis since December 31, 2020.
First Citizens
First Citizens
Forward Guidance
The proposed merger with CIT Group Inc. is expected to close as soon as practicable following receipt of approval from the Board of Governors of the Federal Reserve System and the satisfaction or waiver of other customary closing conditions.