AI-extracted from the 10-Q filed 2026-08-07 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Net income rose 26% QoQ to $672M on lower credit provisions and higher noninterest income, with NIM stable at 3.10% despite $2.5B Purchase Money Note prepayment.
Biggest Revenue Drivers
Net interest income$1,656M+2% QoQ
Higher yields on loans and investment securities, loan PAA of $48M, offset by higher rate paid on interest-bearing deposits
Rental income on operating lease equipment$280MFlat QoQ
Rail segment portfolio growth with strong repricing at 115% of expiring lease rates
Biggest Revenue Drivers
Total revenue: $2,432M+3% QoQ
Net interest income$1,656M+2% QoQ
Higher yields on loans and investment securities, loan PAA of $48M, offset by higher rate paid on interest-bearing deposits
Rental income on operating lease equipment$280MFlat QoQ
Rail segment portfolio growth with strong repricing at 115% of expiring lease rates
Lending-related fees and deposit fees$147M+6% QoQ
Higher line of credit fees and overdraft fees
Other noninterest income$202M+138% QoQ
$27M gain on equity warrants, $17M gain on tax credit sales, $12M increase in fair value of marketable securities
Largest Expense Items
Personnel cost$844M-3% QoQ
Lower incentive compensation and seasonal benefit limit effects, partially offset by merit increases
Third-party processing fees$100M+7% QoQ
Digital infrastructure investment for data center modernization
Maintenance and operating lease expenses$67M+3% QoQ
Variable timing and railcars coming on/off lease; asset condition impacts
Depreciation on operating lease equipment$101MFlat QoQ
Consistent with operating lease equipment portfolio levels
Margins: Net interest margin held steady at 3.10% (3.01% ex-purchase accounting) despite a 1bp rise, driven by higher yields on loans and securities offset by increased deposit funding costs. The prepayment of $2.5B on the FDIC Purchase Money Note reduced borrowing costs, supporting stability.
Watch Items from the Filing
Purchase Money Note balance declined to $28.4B from $33.4B at year-end, with $5B prepaid YTD and $1B in July; further prepayments of $6–8B expected in Q3 from BMO Branch Acquisition liquidity.
Commercial loan portfolio concentration in capital call lines ($34.2B, +6% QoQ) represents 23% of total loans; model updates in Q2 improved ALLS reserve releases, but loss rates are significantly lower than other commercial segments.
Uninsured deposits of $65.1B (37.5% of total) increased from $61.8B at year-end; brokered deposits grew to $3.3B (newly issued) as Direct Bank rates were less attractive.
Nonaccrual loans ratio improved to 0.96% at June 30 from 0.88% at December 31, 2025; ALLS reserve cover at 0.98% of loans, down from 1.06%, reflecting model updates and lower specific reserves.
Pending BMO Branch Acquisition expected Q3 2026 to add ~$5.3B deposits and ~$700M loans; integration costs ($8M YTD) expected to continue through acquisition close.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
9 transactions in FCNCA reported by 3 members of Congress under the STOCK Act, most recent trade Apr 14, 2026. Reported transactions, not recommendations.
About FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA): stock profile, AI score and financials
FIRST CITIZENS BANCSHARES INC /DE/ (FCNCA) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores FCNCA at 53.4/100 on a composite quality score built from its SEC filings, placing it at rank #1,394 of 2,925 stocks — the top half of the AI-ranked universe. FCNCA scores in the top quartile across revenue scale (85.9), profitability (82.6), free cash flow (79.8). Areas of concern include institutional flow (11.5) and revenue growth (19.7), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q2 2026), FIRST CITIZENS BANCSHARES INC /DE/ reports quarterly revenue of $2.4B, net income of $672.0M, an operating margin of 36.6%. Top institutional holders of FCNCA by reported 13-F value include HARRIS ASSOCIATES L P, BlackRock, DODGE & COX, based on the most recent SEC filings. FCNCA trades on the Nasdaq exchange and files with the SEC under CIK 798941. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate FCNCA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for FIRST CITIZENS BANCSHARES INC /DE/ directly from SEC EDGAR.