The combination of a significant EPS beat, accelerating loan/deposit growth, improving credit quality, and a new $1.2B buyback program creates a strong positive catalyst. Watch for continued PMN prepayment progress and whether the Q4 NII guidance range ($1.70B-$1.77B) implies further margin stabilization.
Price Chart
Executive Summary
First Citizens BancShares reported Q3 2026 adjusted EPS of $55.37, a 20.4% beat vs the $45.98 consensus, driven by strong loan and deposit growth, resilient credit quality, and expense discipline. The company also announced a new $1.2 billion share repurchase plan for 2027 and prepaid another $8.0 billion of the FDIC Purchase Money Note, continuing its balance sheet optimization.
Key Financial Metrics
Key Facts
- Q3 2026 adjusted EPS of $55.37 beat consensus of $45.98 by 20.4%
- Net income available to common stockholders was $577 million, or $51.23 per share (GAAP)
- Net interest income rose 2.6% sequentially to $1.70 billion; NIM was 3.07%
- Loans grew 4.1% sequentially to $157.2 billion; deposits grew 6.8% to $185.3 billion
- Net charge-off ratio improved to 0.27% from 0.29% in the linked quarter
- Prepaid $8.0 billion of the FDIC Purchase Money Note in Q3, plus $1.5 billion in October
- Board authorized a new $1.2 billion share repurchase plan for 2027
- Completed acquisition of 138 BMO branches, assuming ~$4.9B in deposits and ~$650M in loans
- CET1 ratio was 10.24% at quarter-end, down from 10.77% due to share repurchases and balance sheet growth
- Q4 2026 guidance: NII $1.70B-$1.77B, NCO ratio 30-35 bps, adjusted expenses $1.35B-$1.39B
Financial Impact
Adjusted EPS of $55.37 beat consensus by $9.39 (20.4%), driven by strong net interest income growth and lower credit costs. The $1.2B share repurchase authorization signals management confidence.
Risk Factors
- NIM compression continued (down 3 bps QoQ to 3.07%) as deposit costs rose 9 bps
- CET1 ratio declined to 10.24% (down 53 bps QoQ) due to share repurchases and RWA growth
- ALLL ratio declined to 0.91% from 0.98%, leaving less cushion if credit quality deteriorates
- Higher deposit costs and funding costs may pressure NIM if rate cuts are delayed
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000798941-26-000041 |
| Document: a3q26investorpresentatio.htm | 0000798941-26-000041 |
| Document: a3q26_erx991.htm | 0000798941-26-000041 |
| Document: fcnca-20261023.htm | 0000798941-26-000041 |
| Document: 0000798941-26-000041-index-headers.html | 0000798941-26-000041 |
| Document: 0000798941-26-000041-index.html | 0000798941-26-000041 |
| Document: 0000798941-26-000041.txt | 0000798941-26-000041 |
| 8-K Data (Synthetic) | 0000798941-26-000041 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $2,187.00 | awaiting T+1 | — | $2,375.84 (+8.63%) |
Oct 23, 2026 3d ago | Press Release | $2,187.00 | awaiting T+1 | — | $2,375.84 (+8.63%) |
Oct 16, 2026 9d ago | Institutional Cluster | $2,096.87 $2,120.39 | ▲ +1.12% | ▲ +0.79% | $2,375.84 (+13.30%) |
Sep 30, 2026 25d ago | Press Release | $2,073.50 | awaiting T+1 | — | $2,375.84 (+14.58%) |
Sep 10, 2026 6w ago | 424B5 | $2,173.00 $2,173.88 | ▲ +0.04% | ▲ +0.49% | $2,375.84 (+9.33%) |
Jul 23, 2026 13w ago | 8-K | $2,212.77 $2,160.65 | ▼ −2.36% | ▼ −2.46% | $2,375.84 (+7.37%) |
Jun 8, 2026 19w ago | Insider Cluster | $2,100.68 $2,112.87 | ▲ +0.58% | ▲ +2.16% | $2,375.84 (+13.10%) |
US Market Status
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