FCNCB News and Press, First Citizens BancShares Inc From 03/28/23

2023-03-28 09:32:34 ET Summary First Citizens BancShares, Inc.'s acquisition of SVB Financial Group's debt portfolio might be lucrative in the long run due to various synergetic and financial reasons. However, the bank's onboarding of additional cyclical risk during a time when cr...

2023-03-28 08:24:08 ET Summary The management team at First Citizens BancShares agreed to absorb Silicon Valley Bridge Bank in a deal that will drastically increase the company's asset base. This move grants First Citizens significant benefits and protections while building out an...

2023-03-28 07:30:58 ET Summary First Citizens struck a "sweetheart" deal with the FDIC, buying out Silicon Valley Bridge Bank with the FDIC's backstops. As such, it significantly limits the bank's credit and liquidity risks, as it aims to facilitate the continuation of legacy SVB'...

2023-03-28 06:03:36 ET Summary Today, we provide an update on our Inverse Jim Cramer strategy by taking a look at the results of his top stock picks for the first three months of 2023. The first quarter of the year showed yet again that inverting Jim's most frequently discussed st...

2023-03-27 18:09:14 ET Summary First Citizens BancShares, Inc. has emerged as the winner in the auction of Silicon Valley Bank. The company cut a huge deal with the FDIC at a big discount. First Citizens BancShares likely comes out ahead, but risks will increase as well, in an...

2023-03-27 12:34:10 ET Summary This morning, North Carolina-based First Citizens announced a deal to buy Silicon Valley Bank, easing some market fears over banking contagion. First Citizens got an FDIC loss share, a steep discount, and got to leave out $90 billion in less attracti...

2023-03-27 11:25:32 ET Summary First Citizens announced that it would acquire most of SVB's operating assets out of FDIC receivership. The deal terms look quite favorable for First Citizens, including a $16.5B discount on the acquired assets, a loss-sharing agreement, and favorabl...

Summary First Citizens offered a different set of results from the typical bank in the fourth quarter, including little revenue growth and sequential pre-provision contraction. A slowing macro environment is leading to weaker demand for factoring, depressing loan growth, but funding cos...

Start Time: 09:00 End Time: 10:04 First Citizens BancShares, Inc. (FCNCA) Q4 2022 Earnings Conference Call January 26, 2023, 09:00 AM ET Company Participants Frank Holding - Chairman and CEO Craig Nix - CFO Tom Eklund - Treasurer Marisa Harney - Chief Credi...

The following slide deck was published by First Citizens BancShares, Inc. in conjunction with their 2022 Q4 earnings call. For further details see: First Citizens BancShares, Inc. 2022 Q4 - Results - Earnings Call Presentation