First Citizens BancShares generated net income of $534 million in Q1, down from $580 million in the linked quarter, and net income available to common stockholders of $508 million, or $42.63 per share. Net interest income fell to $1.62 billion as net interest margin declined to 3.09% from 3.20%, driven by lower yields on loans, securities and deposits. Noninterest income totaled $692 million, modestly lower from the prior period, while noninterest expense of $1.54 billion reflected reduced marketing and professional fees.

During the quarter the company returned $900 million to shareholders via share buybacks and prepaid $2.5 billion on its Purchase Money Note, strengthening liquidity while reducing funding costs. Deposits rose 5.7% to $170.84 billion, led by a $5.66 billion increase in Commercial Bank segment balances. Total assets under management remained robust, with loans and leases growing 0.5% to $148.69 billion and investment securities increasing by $1.42 billion.

In Q4 2026 the bank will rebrand Silicon Valley Bank divisions as First Citizens Innovation Banking and First Citizens Fund Banking, and convert CIT Commercial Services and the SVB Wine division to First Citizens Bank. The move aligns branding across its private equity, venture capital and innovation economy units while preserving dedicated relationship teams. First Citizens will also expand capabilities in cryptocurrency, payments and international banking, with details to be announced later this year.

The board declared a quarterly common stock dividend of $2.10 per share payable June 15 to holders of record May 29. Preferred dividends include $13.4375 per share for Series A, $19.988706 for Series B, $0.351563 for Series C, $1,750.00 for Series D and $23.9236 for Series E depositary shares. These regular dividends reinforce the company’s commitment to shareholder returns.