First Citizens BancShares Inc. (FCNCA) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
4300 SIX FORKS ROAD RALEIGH, NC 27609 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6022 - State Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 34,601 | 5,638 | 18,242 | 4,801 | 1,567 | 1,217 | |||
| Cash and cash equivalents | 34,517 | 5,543 | 9,030 | 362 | 377 | 327 | |||
| Short-term investments | 84 | 95 | 9,212 | 4,439 | 1,190 | 890 | |||
| Financing receivable, accrued interest, after allowance for credit loss | 625 | 203 | ✕ | ✕ | |||||
| Debt securities, held-to-maturity, accrued interest, after allowance for credit loss | 18 | 19 | ✕ | ✕ | |||||
| Total current assets: | 35,244 | 5,860 | 18,242 | 4,801 | 1,567 | 1,217 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 9 | 7 | 4 | 6 | ✕ | ||||
| Operating lease, right-of-use asset | 354 | 345 | 63 | 68 | ✕ | ||||
| Leveraged leases, net investment in leveraged leases disclosure, investment in leveraged leases | 13 | 68 | ✕ | ||||||
| Property, plant and equipment | 1,233 | 1,251 | 1,244 | 1,204 | |||||
| Long-term investments and receivables | 40 | ||||||||
| Long-term investments | 40 | ||||||||
| Intangible assets, net (including goodwill) | 658 | 486 | 389 | 401 | 418 | 309 | |||
| Goodwill | 346 | 346 | 346 | 350 | 349 | 236 | |||
| Intangible assets, net (excluding goodwill) | 312 | 140 | 43 | 51 | 68 | 72 | |||
| Investment, proportional amortization method, elected, amount | 598 | 157 | 164 | 168 | 147 | ||||
| Total noncurrent assets: | 1,034 | 1,504 | 1,887 | 1,891 | 1,830 | 1,660 | |||
| Other undisclosed assets | 177,480 | 101,934 | 38,179 | 43,266 | 36,428 | 32,531 | |||
| TOTAL ASSETS: | 213,758 | 109,298 | 58,308 | 49,958 | 39,824 | 35,409 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Debt | 485 | 2,186 | 589 | 641 | 738 | 572 | |||
| Total current liabilities: | 485 | 2,186 | 589 | 641 | 738 | 572 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 37,169 | 4,459 | 320 | ||||||
| Other undisclosed long-term debt and lease obligation | 37,169 | 4,459 | 320 | ||||||
| Liabilities, other than long-term debt | 3,579 | 286 | |||||||
| Deferred income tax liabilities | 3,579 | 286 | ✕ | ||||||
| Total noncurrent liabilities: | 40,748 | 4,745 | 320 | ||||||
| Other undisclosed liabilities | 151,270 | 92,705 | 52,982 | 45,087 | 35,500 | 31,028 | |||
| Total liabilities: | 192,503 | 99,636 | 53,571 | 45,728 | 36,238 | 31,920 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 21,255 | 9,662 | 4,737 | 4,229 | 3,586 | 3,489 | |||
| Preferred stock | 881 | 881 | 340 | 340 | |||||
| Additional paid in capital | 4,108 | 4,109 | 44 | 494 | |||||
| Accumulated other comprehensive income (loss) | (491) | (735) | 10 | 12 | (127) | (235) | |||
| Retained earnings | 16,742 | 5,392 | 4,378 | 3,867 | 3,658 | 3,219 | |||
| Other undisclosed equity, attributable to parent | 15 | 15 | 10 | 10 | 11 | 12 | |||
| Total equity: | 21,255 | 9,662 | 4,737 | 4,229 | 3,586 | 3,489 | |||
| TOTAL LIABILITIES AND EQUITY: | 213,758 | 109,298 | 58,308 | 49,958 | 39,824 | 35,409 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 9,780 | 4,205 | 1,306 | 1,400 | 1,251 | 1,109 | ||
| Operating lease, lease income | 971 | 864 | ✕ | |||||
| Net investment income | 8,835 | 3,307 | 1,306 | 1,340 | 1,244 | 1,095 | ||
| Cost of revenue | (222) | (840) | (9) | (8) | (31) | (28) | ||
| Cost of goods and services sold | (222) | (189) | ||||||
| Provision for loan, lease, and other losses | (645) | (31) | (28) | |||||
| Amortization of mortgage servicing rights (msrs) | (6) | (9) | (8) | |||||
| Gross profit: | 9,558 | 3,365 | 1,297 | 1,391 | 1,219 | 1,080 | ||
| Operating expenses | (946) | (565) | (905) | (857) | (800) | (762) | ||
| Operating income: | 8,612 | 2,800 | 392 | 535 | 419 | 319 | ||
| Nonoperating income (expense) | 9,836 | 512 | ||||||
| Investment income, nonoperating | 9,808 | 451 | ||||||
| Gain on sale of leased assets, net, operating leases | 20 | 15 | ||||||
| Interest and debt expense | (3,679) | (460) | (61) | (96) | (93) | (37) | ||
| Income from continuing operations before equity method investments, income taxes: | 14,769 | 2,852 | 331 | 439 | 327 | 282 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (2,692) | (1,490) | 371 | 179 | 265 | 222 | ||
| Income from continuing operations before income taxes: | 12,077 | 1,362 | 702 | 618 | 592 | 504 | ||
| Income tax expense | (611) | (264) | (154) | (126) | (135) | (103) | ||
| Income from continuing operations: | 11,466 | 1,098 | 547 | 492 | 457 | 400 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 547 | 492 | 457 | 400 | |
| Net income attributable to parent: | 11,466 | 1,098 | 547 | 492 | 457 | 400 | ||
| Preferred stock dividends and other adjustments | (59) | (50) | (19) | (14) | ||||
| Net income available to common stockholders, diluted: | 11,407 | 1,048 | 529 | 478 | 457 | 400 | ||
Comprehensive Income ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 11,466 | 1,098 | 547 | 492 | 457 | 400 | ||
| Other comprehensive income (loss) | (2) | 139 | 108 | (63) | ||||
| Comprehensive income: | 11,466 | 1,098 | 545 | 631 | 566 | 337 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 244 | (745) | ||||||
| Comprehensive income, net of tax, attributable to parent: | 11,710 | 353 | 545 | 631 | 566 | 337 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.