First Citizens BancShares Inc (Delaware)

firstcitizens.com

What Do They Do?

Provides banking, lending and wealth-management services to consumers, small businesses and commercial clients, including private equity and venture capital firms.

How Do They Make Money?

Earns interest from borrowers on loans over the loan term, plus fees for banking, investment, wealth-management and card services. Fees may arise when services or transactions occur or across account and asset-management service periods; factoring commissions accrue over receivables terms, while equipment-insurance income runs over policy periods and issuance commissions come when remitted.

revenue

Segment	Share	How money arrives
Lending-related fees Sold outright	19% FY2022: 15%	Sold outright
Deposit fees and service charges	17% FY2022: 21%
Client investment fees	15% FY2022: 0.0%
Wealth management services Recurring	16% FY2022: 21%	Recurring
International fees Sold outright	9.5% FY2022: 1.2%	Sold outright
Factoring commissions Recurring	5.1% FY2022: 15%	Recurring
Cardholder services, net Usage-based	11% FY2022: 15%	Usage-based
Merchant services, net Usage-based	3.7% FY2022: 5.1%	Usage-based
Insurance commissions	3.7% FY2022: 6.9%

Who Are Their Customers?

Consumers and small businesses use branches and digital banking; commercial borrowers and companies are reached through direct marketing and referrals, while investment and wealth services serve individuals and institutional clients.

Do Revenues Turn Into Profits?

Yes. It kept 23 cents of every revenue dollar as net income in FY2025 and turned 23 cents into free cash flow.

Net income, FY2025

23% of revenue

▼ −21% vs FY2024 ($2.8B, 28%)

Free cash flow, FY2025

23% of revenue

▼ −14% vs FY2024 ($2.6B, 26%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +2%; vs $2.4B in Q2 FY2025
Net income: ▲ +17%; vs $575M in Q2 FY2025

Lending-related fees share of noninterest income vs 19.5% in Q2 FY2025

Sep 8, 2026 Completed acquisition of 138 branches from BMO Bank The branches are located throughout the Midwest, Great Plains and West regions.

Silicon Valley Bank added The latest report describes FCB's acquisition of Silicon Valley Bridge Bank and says it maintains the Silicon Valley Bank brand; the earlier report described commercial lending and leasing across industries.

Revenue over time

Lending-related fees Deposit fees and service charges Client investment fees Wealth management services International fees Factoring commissions Cardholder services, net Merchant services, net Insurance commissions Service charges on deposit accounts Fee income and other service charges

$2B$1B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Bank of America, Truist Bank, and Wells Fargo

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