First Citizens Posts $606M Q3 Profit, Authorizes $1.2B 2027 Buyback
FCNCA sits 24% above its 52-week low of $1,727.1 on elevated volume (2.0× avg).
Summary
First Citizens earned $606 million in Q3 2026 ($51.23 per share) on 4.1% loan and 6.8% deposit growth, and authorized a new $1.2 billion share repurchase program for 2027 while prepaying another $8.0 billion of the FDIC Purchase Money Note.
Key Events · Earnings and Guidance · FCNCA
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Q3 Net Income $606 Million
Net income of $606 million, or $51.23 per diluted share, versus $672 million ($55.52) in the linked quarter; adjusted EPS was $55.37.
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$1.2 Billion 2027 Buyback Authorized
Board authorized repurchases of up to $1.2 billion of Class A common stock in 2027, alongside $711 million remaining under the 2025 plan; $600 million was repurchased in Q3 at an average $2,152.92 per share.
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Purchase Money Note Paid Down $8.0 Billion
Prepaid $8.0 billion of the FDIC Purchase Money Note in Q3 plus $1.5 billion in October, bringing total prepayments to $17 billion; balance fell to $20.45 billion from $35.85 billion a year earlier.
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Loans Up 4.1%, Deposits Up 6.8%
Loans reached $157.19 billion and deposits $185.26 billion, with about $4.9 billion of deposits assumed in the 138-branch BMO acquisition completed September 4, 2026.
Analysis · FCNCA · Finance
The real story here is capital return and funding optimization: the board authorized a fresh $1.2 billion repurchase program for 2027 on top of $711 million left under the 2025 plan, and management prepaid another $8.0 billion of the FDIC Purchase Money Note in the quarter plus $1.5 billion in October, taking total prepayments to $17 billion. That buyback plus the note paydown means capital is being returned and the highest-cost funding is being retired faster than scheduled. Third-quarter net income fell to $606 million ($51.23 per share) from $672 million ($55.52) in the linked quarter, largely because the prior quarter carried a $10 million credit benefit versus a $55 million provision now, and because other noninterest income dropped $42 million on a swing in equity warrant fair value. Against that, the core franchise grew: loans rose $6.2 billion (4.1%) and deposits $11.8 billion (6.8%), with roughly $4.9 billion of the deposit gain coming from the completed 138-branch BMO acquisition.
How filings like this one have moved
In the 30 days to Oct 23, 2026, 29.6% of the 1590 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FCNCA was trading at $2,137.00 on NASDAQ in the Finance sector, with a market capitalization of approximately $24.4B. The 52-week trading range was $1,727.10 to $2,296.30. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.