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Sep 30, 2022
First Citizens Q3 2022 Earnings Report
First Citizens BancShares reported earnings for Q3 2022, showing an increase in net income and adjusted net income compared to the previous quarter.
Key Takeaways
First Citizens BancShares reported a strong Q3 2022, with net income of $315 million, a 23.5% increase over the prior quarter, driven by solid top-line growth and net interest margin expansion. The company remains focused on merger optimization and cost savings, having repurchased 98.5% of authorized shares under its share repurchase plan.
Net income available to common stockholders was $303 million, or $19.25 per common share.
Adjusted net income available to common stockholders was $326 million, or $20.77 per common share.
Pre-provision net revenue totaled $468 million.
Loans totaled $69.8 billion, an increase of $2.1 billion.
First Citizens
First Citizens
Forward Guidance
This document does not contain forward guidance.