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First Citizens BancShares (FCNCA) Company Profile

Updated Mar 8, 2019
First Citizens BancShares has the following business profile:
Company's Full Name:First Citizens BancShares, Inc.
Short Name:First Citizens BancShares
Trading Ticker Symbol:FCNCA
Primary Exchange:NASDAQ
Headquarter City/Country:North Carolina, NC
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks
Dividend Payments:Dividend History

Market and Trading Information for First Citizens BancShares

The following details were available for trading and market data about the stock of First Citizens BancShares as of writing:
Current Share Price:$423.24
Previous Year's Closing Price:$377.04
Percentage Price Change (YTD):12.25%
Market Cap:$4.82 billion
52-week Price Range:$355.18 - $488.44
Dividend Per Share:$1.4
EPS (TTM):33.53
Price-Earnings (Trailing):12.62
Price-Earnings (Forward):0

Company Profile and Business Description for First Citizens BancShares

First Citizens BancShares, Inc. (BancShares), incorporated on August 8, 1986, is a holding company of First-Citizens Bank & Trust Company (FCB). As of December 31, 2016, BancShares operated in 21 states providing a range of financial services to individuals, businesses and professionals. FCB is a state-chartered bank. FCB offers a range of retail and commercial banking services. Its loan services include various types of commercial, business and consumer lending. Its deposit services include checking, savings, money market and time deposit accounts. FCB also provides mortgage lending, a full-service trust department, wealth management services for businesses and individuals and other activities incidental to commercial banking. FCB's subsidiaries, First Citizens Investor Services, Inc. (FCIS) and First Citizens Asset Management, Inc. (FCAM), provide various investment products, including annuities, discount brokerage services and third-party mutual funds to customers primarily through the bank's branch network, as well as investment advisory services.

The Company delivers products and services to customers through its branch network, as well as digital banking, telephone banking and various automated teller machine (ATM) networks. Its services include taking of deposits, cashing of checks and providing for individual and commercial cash needs. Its business customers may conduct banking transactions through the use of remote image technology. FCB's primary deposit markets are North Carolina and South Carolina. As of December 31, 2016, FCB operated 550 branches in Arizona, California, Colorado, Florida, Georgia, Kansas, Maryland, Missouri, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, West Virginia and Wisconsin.

Lending Activities

The Company's loan portfolio is divided into commercial and non-commercial based on the type of borrower, purpose, collateral, and/or its underlying credit management processes. Commercial loans include construction and land development, commercial mortgage, other commercial real estate, commercial and industrial, lease financing and other. Construction and land development consists of loans to finance land for development, investment, and use in a commercial business enterprise; multifamily apartments, and other commercial buildings that may be owner-occupied or income generating investments for the owner. Commercial mortgage consists of loans to purchase or refinance owner-occupied nonresidential and investment properties. Other commercial real estate consists of loans secured by farmland and multifamily residential properties. Commercial and industrial consists of loans or lines of credit to finance corporate credit cards, accounts receivable, inventory and other general business purposes. Lease financing consists solely of lease financing agreements for business equipment, vehicles and other assets. Other consists of all other commercial loans not classified in one of the preceding classes. These typically include loans to non-profit organizations such as churches, hospitals, educational and charitable organizations. Its noncommercial loans consist of residential and revolving mortgage, construction and land development, and consumer loans. Residential real estate consists of loans to purchase, construct or refinance the borrower's primary dwelling, second residence or vacation home. Revolving mortgage consists of home equity lines of credit that are secured by first or second liens on the borrower's primary residence. Construction and land development consists of loans to construct the borrower's primary or secondary residence or vacant land upon which the owner intends to construct a dwelling at a future date. Consumer loans consist of installment loans to finance purchases of vehicles, unsecured home improvements, student loans and revolving lines of credit that can be secured or unsecured, including personal credit cards. As of December 31, 2016, the Company's net loans amounted to $21.5 billion.

Investment Activities

The Company's investment activities include securities available for sale and securities held to maturity. Its securities available for sale consists of the United States Treasury, Government agency, mortgage-backed securities, equity securities, municipal securities, corporate bonds and other. As of December 31, 2016, the Company's total securities available for sale amounted to $7,006.5 million and securities held to maturity amounted to $0.1 million.

Sources of Funds

The Company's deposits include demand deposits, checking with interest deposits, money market accounts, savings and time deposits. As of December 31, 2016, the Company's total deposits amounted to $28.16 billion.

4300 Six Forks Rd

Peer / Competitor Companies of Major Banks Sector

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