First Citizens earnings showed a larger deposit base and higher loans in the third quarter, while profit declined from the prior quarter. The bank also announced a new $1.2 billion share-repurchase authorization through 2027.

The October 23 release separates completed third-quarter results from the new capital-return plan. Investors now have to weigh faster balance-sheet growth against higher credit-loss provisioning and a slightly narrower net interest margin.

First Citizens Earnings Show Deposit Growth

According to the company’s SEC-filed earnings release, net income available to common shareholders was $577 million, or $51.23 per share. Net interest income rose by $43 million from the second quarter to $1.70 billion, although the net interest margin slipped three basis points to 3.07%.

The balance sheet expanded after First Citizens completed its purchase of 138 BMO branches on September 4. The transaction added approximately $4.9 billion of deposits and $650 million of loans. Broader deposit growth also reflected direct-bank and brokered balances, an issue investors are watching across lenders such as Customers Bancorp.

Buyback Adds $1.2B of Capacity

First Citizens repurchased 278,828 Class A shares for $600 million during the quarter. The newly approved plan adds up to $1.2 billion of capacity through 2027, alongside $711 million that remained under the 2025 program at September 30.

The authorization permits repurchases but does not require the bank to complete them. Timing will depend on market conditions, capital needs and other factors. That distinction matters when comparing capital-return decisions with regional-bank earnings updates such as Tompkins Financial.

Credit Metrics Shape the Next Quarter

The provision for credit losses was $55 million, compared with a $10 million benefit in the second quarter. Net charge-offs improved to $103 million, or 0.27% of average loans, from $108 million and 0.29%.

Nonaccrual loans fell to 0.87% of loans from 0.96%, and the company said its capital ratios remained above regulatory requirements. Those figures, together with deposit costs and margin pressure, will be central to the next update, much as credit costs were for First Hawaiian.

Sharron Kendi is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence.