First Citizens BancShares, Inc. (Nasdaq: FCNCA) reported its results for the third quarter of 2026 on October 23, 2026. The company announced that net income for the quarter ended September 30, 2026, was $606 million, a decrease from the $672 million reported in the second quarter of 2026. Net income available to common stockholders was $577 million, or $51.23 per share, compared to $640 million, or $55.52 per share, in the prior quarter.
Net interest income for the current quarter was $1.70 billion, an increase of $43 million over the linked quarter. The net interest margin was 3.07%, a modest decline of three basis points from the previous quarter. Noninterest income for the quarter was $734 million, a decrease of $42 million from the linked quarter. Noninterest expense was $1.57 billion, an increase of $22 million.
Loans and leases totaled $157.19 billion at September 30, 2026, an increase of $6.16 billion since June 30, 2026. Total deposits were $185.26 billion, an increase of $11.84 billion since the end of the second quarter. The company repaid an additional $8.0 billion of its Purchase Money Note during the quarter, bringing the total balance down to $20.45 billion as of September 30, 2026.
In other news, the company announced that its Board of Directors has authorized a new share repurchase program, known as the 2027 SRP. This program allows BancShares to repurchase shares of its Class A common stock in an aggregate amount up to $1.2 billion in 2027. Repurchases may be conducted on the open market or through privately negotiated transactions, including Rule 10b5-1 plans, at management’s discretion.
BancShares also completed the acquisition of 138 branches from BMO Bank N.A. on September 4, 2026. In connection with this transaction, the company assumed approximately $4.9 billion in deposits and acquired approximately $650 million in loans. The company’s capital ratios remained above regulatory requirements, with a total risk-based capital ratio of 12.90%.
