NASDAQ$FCNCA

First Citizens BancShares Inc. · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Reported strong earnings for Q4 2019, driven by balance sheet growth and strong net interest income.

First Citizens BancShares reported a net income of $101.9 million for Q4 2019, a 13.9% increase compared to Q4 2018. Net income per share increased by 25.3% to $9.55. The growth was supported by a rise in noninterest income and an increase in total loans and deposits.

  • Net income for the fourth quarter of 2019 totaled $101.9 million, an increase of $12.4 million compared to the same quarter in 2018.
  • Net income per share increased to $9.55 in the fourth quarter of 2019, from $7.62 per share during the same quarter in 2018.
  • Total loans grew to $28.88 billion, an increase of $3.36 billion since December 31, 2018.
  • Total deposits grew to $34.43 billion, an increase of $3.76 billion since December 31, 2018.

Headline financials

Total Revenue

$327M

Previous: $321M+1.9%
EPS (adj)

$9.55

Previous: $7.62+25.3%
Net Interest Margin

3.6%

Previous: 3.8%-5.2%
Net Charge-Off Ratio

0.1%

Previous: 0.1%+27.3%
Tier 1 Capital Ratio

10.9%

No prior period
CET1 Ratio

10.9%

No prior period
Total Risk-Based Capital

12.1%

No prior period
Leverage Ratio

8.8%

No prior period
Capital Expenditures

$31.9M

Previous: $52.2M-38.9%
Free Cash Flow

$110M

Previous: $75.1M+45.9%
Net Income

$102M

Previous: $89.5M+13.9%
Operating Income

$132M

No prior period
Cash & Equivalents

$377M

Previous: $327M+15.0%
Total Assets

$39.8B

Previous: $35.4B+12.5%

Revenue & EPS history

First Citizens · Revenue · Quarterly

$327M

Q4 2019+1.9%vs Q4 2018

Revenue by segment

First Citizens · $402M total across 2 segments · Q1 2020

  • Net Interest
    $338M
  • Non-Interest
    $64M

Forward guidance

The discussions included in this Press Release may contain forward-looking statements within the meaning of the Private Securities Litigation Act of 1995, including Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. For the purposes of these discussions, any statements that are not statements of historical fact may be deemed to be forward-looking statements.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+1.1%

Avg return

Earnings day

+1.8%

Avg return

5 days after

+5.2%

Avg return

30 days after

66%

42 / 64 earnings

Positive

+15.3%

Q3 2020

Best reaction

-9.6%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-3.5%-3.1%-2.6%
Q4 2025-8.5%-10.1%-8.5%
Q3 2025+0.3%+0.8%+7.2%
Q2 2025+1.1%-0.2%+3.7%
Q1 2025+1.1%+1.2%+2.8%
Q3 2024-9.6%-6.8%+13.0%
Q2 2024+13.3%+14.3%+8.2%
Q1 2024+7.0%+2.9%+8.6%
Q4 2023+5.1%+6.9%+8.7%
Q3 2023+3.6%+6.1%+10.3%
Q2 2023+3.4%+4.7%-3.7%
Q1 2023+12.8%+15.7%+17.5%
Q4 2022-3.2%-2.2%-7.0%
Q3 2022-5.5%-4.9%-4.9%
Q2 2022+5.1%+6.7%+13.0%
Q1 2022+3.1%+6.0%+11.9%
Q4 2021-4.9%-3.8%-3.5%
Q3 2021-2.1%+0.3%-1.0%
Q2 2021+4.5%+11.5%+17.9%
Q1 2021-2.9%-2.1%-2.8%
Q4 2020-6.5%-5.1%+20.6%
Q3 2020+15.3%+25.7%+53.6%
Q2 2020+4.3%+4.2%-2.1%
Q1 2020+8.5%+3.4%+13.0%
Q4 2019+0.6%+1.5%-9.3%
Q3 2019+0.4%-0.2%+4.8%
Q2 2019+2.2%-2.5%-2.9%
Q1 2019-0.6%+1.7%-5.8%
Q4 2018-1.0%-0.2%+6.4%
Q3 2018-0.7%-1.5%+0.2%
Q2 2018-1.1%-1.2%+15.9%
Q1 2018+2.4%+4.4%+5.2%
Q4 2017+0.8%-4.6%-4.1%
Q3 2017+6.8%+4.1%+5.8%
Q2 2017-2.8%-3.1%-8.8%
Q1 2017+3.6%+1.0%-3.7%
Q4 2016+3.1%-0.4%-1.2%
Q3 2016-1.8%-1.0%+21.7%
Q2 2016-1.1%-1.5%+4.9%
Q1 2016-0.0%
Q2 2015+1.4%
Q4 2015+2.2%
Q3 2015+7.0%
Q1 2015+0.2%
Q4 2014+0.3%
Q2 2014+0.3%
Q3 2014-0.5%
Q1 2014+1.1%
Q4 2013+0.3%
Q2 2013+0.3%
Q3 2013+4.8%
Q1 2013+1.3%
Q2 2012-2.3%
Q4 2012-2.3%
Q3 2012+1.7%
Q1 2012+0.7%
Q4 2011+2.2%
Q3 2011-0.5%
Q2 2011+1.2%
Q1 2011+0.7%
Q4 2010+0.0%
Q3 2010-5.1%
Q2 2010+1.3%
Q1 2010+4.0%

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