Earnings slip from the prior quarter
First Citizens BancShares, the Raleigh, North Carolina-based parent of First-Citizens Bank & Trust Company, booked net income of $606 million in the third quarter of 2026, compared with $672 million in the second quarter. Profit available to common stockholders came to $577 million, or $51.23 per share, a decline of $63 million from $640 million, or $55.52 per share, in the linked quarter.[S1][S2]
On an adjusted basis, net income was $652 million against $691 million three months earlier. Adjusted profit attributable to common stockholders reached $623 million, or $55.37 per share, down $36 million from $659 million, or $57.09 per share, in the prior quarter. The company noted that adjusted figures and measures excluding purchase accounting accretion are non-GAAP and are reconciled in its financial supplement.[S1]
Buyback and balance-sheet moves
The board approved a fresh repurchase authorization covering as much as $1.2 billion of Class A common stock through 2027. During the quarter the company returned $600 million to shareholders through buybacks and repaid a further $8.0 billion of the Purchase Money Note, which it described as a step toward optimizing its balance sheet.[S1]
BMO branch deal closes
On September 4, 2026, First Citizens Bank finished its previously announced purchase of 138 branches from BMO Bank N.A. spread across the Midwest, Great Plains and West regions. Through the transaction the bank took on roughly $4.9 billion in deposits and about $650 million in loans.[S1]
Scale and investor access
BancShares ranks among the 20 largest U.S. financial institutions, holds more than $225 billion in assets and is part of the Fortune 500. Management scheduled a conference call on Friday, October 23, 2026, at 9 a.m. Eastern time, with a webcast on the investor relations site and materials furnished to the SEC on Form 8-K.[S1]
