First Citizens BancShares reported second-quarter 2026 revenue of $2.24 billion, exceeding analyst estimates of $2.16 billion and marking a 1.5% year-on-year increase. Adjusted earnings per share came in at $57.09, a 42.2% beat over the consensus estimate of $40.16. CEO James Reuter attributed the performance to disciplined capital deployment, lower deposit costs, and a deliberate exit from non-relationship and criticized loans. The company achieved its ninth consecutive quarter of net interest margin improvement and increased its share buyback authorization by $150 million, bringing the total to $450 million since inception. Management expects near-term balance sheet contraction from continued non-core loan payoffs but sees improved deposit mix and fixed asset repricing supporting profitability into 2027.
First Citizens BancShares, Inc.Q2 revenue and EPS beat estimates, with margin improvement and increased buyback authorization.