First Citizens Bancshares, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
January 29, 2020 at 02:45 am IST
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First Citizens BancShares, Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced net interest income was USD 327.124 million compared to USD 320.882 million a year ago. Net income was USD 101.874 million compared to USD 89.473 million a year ago. Basic earnings per share was USD 9.55 compared to USD 7.62 a year ago. For the full year, net interest income was USD 1,311.369 million compared to USD 1,208.900 million a year ago. Net income was USD 457.371 million compared to USD 400.313 million a year ago. Basic earnings per share was USD 41.05 compared to USD 33.53 a year ago.
First Citizens BancShares, Inc. is a holding company of First-Citizens Bank & Trust Company. The Company has four segments. General Banking segment delivers products and services to consumers and businesses through its network of branches and various digital channels. Commercial Banking segment provides a range of lending, leasing, capital markets, asset management and other financial and advisory services, primarily to small and middle market companies in a range of industries, including energy, healthcare, tech media and telecom, asset-backed lending, capital finance, maritime, corporate banking, aerospace and defense, and sponsor finance. Silicon Valley Banking segment offers products and services to commercial clients in key innovation markets, such as the healthcare and technology industries, as well as to private equity and venture capital firms. Rail segment offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers.
FIRST CITIZENS BANCSHARES, INC. 
