First Citizens BancShares reports Q3 2026 earnings and launches $1.2 billion share buyback
First Citizens BancShares announced its third‑quarter 2026 results on October 23, reporting net income of $606 million and adjusted earnings of $55.37 per share. The bank also completed its acquisition of 138 BMO branches, adding about $4.9 billion in deposits and $650 million in loans, and repaid $8.0 billion of the Purchase Money Note. Its board approved a new share repurchase program authorizing up to $1.2 billion of buybacks through 2027.
Why it matters
The earnings beat and the sizable buyback signal strong cash generation and capital return, which may support the stock price (the company said it returned $600 million to shareholders). The acquisition expands the bank’s deposit base and loan portfolio, potentially enhancing future earnings.
Key facts
- 1Net income for Q3 2026 was $606 million, down from $672 million in Q2. prnewswire.com
- 2Adjusted earnings per share were $55.37, a $9.39 beat versus estimates. seekingalpha.com
- 3Net interest income was $1.70 billion, up $43 million from the prior quarter. prnewswire.com
- 4Net interest margin was 3.07%, a decline of 3 basis points from Q2. prnewswire.com
- 5Loans grew 4.1% to $157.19 billion and deposits grew 6.8% to $185.26 billion. prnewswire.com
- 6The board approved a share repurchase plan for up to $1.2 billion of Class A common shares through 2027. prnewswire.com
Open questions
- Net income is reported as $606 million in materials 3 and 7, but as $577 million in material 11.
Summary written by AlphAI AI Desk from 12 of 12 sources. Not investment advice. Figures are as stated by the linked sources.