First Citizens BancShares reported Q3 adjusted EPS of $55.37 and adjusted net income of $652 million, beating analyst estimates of $46.02 and $527.96 million. The company announced a share repurchase plan of up to $1.2 billion through 2027.
First Citizens BancShares reported Q3 adjusted EPS of $55.37, compared with the $46.02 analyst estimate, and adjusted net income of $652 million, above the $527.96 million estimate. Net income was $606 million, net interest income was $1.70 billion, net interest margin was 3.07%, and provision for credit losses was $55 million.
The board approved a share repurchase plan for up to $1.2 billion through 2027. The company completed its acquisition of 138 BMO Bank branches, adding $4.9 billion in deposits, and said accelerated loan and deposit growth, resilient credit quality and expense discipline contributed to Q3 results.
