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Dec 31, 2023
First Citizens Q4 2023 Earnings Report
First Citizens BancShares reported solid financial results, completing the integration with CIT and stabilizing SVB.
Key Takeaways
First Citizens BancShares reported a net income of $514 million for Q4 2023, compared to $752 million in the previous quarter. The results were impacted by acquisition-related expenses, a decrease in the preliminary gain on acquisition, an FDIC insurance special assessment, intangible asset amortization, and a fair value adjustment on marketable equity securities.
Net income for the quarter was $514 million.
Net interest income totaled $1.91 billion.
Loans and leases reached $133.30 billion.
Deposits totaled $145.85 billion.
First Citizens
First Citizens
Forward Guidance
The company remains focused on prudent risk management, growing core lines of business, and maintaining solid capital and liquidity positions in 2024.