Vmbook Online ordering

Regional Mid Atlantic Banks

First Citizens BancShares, Inc. (FCNCA) is a bank holding company for First-Citizens Bank & Trust Company, based in Raleigh, North Carolina. The company operates as a regional bank in the Mid-Atlantic and Southeastern United States, with approximately 500 branches across 19 states.

Key financial figures for First Citizens BancShares, Inc. include:

* Market Capitalization: $9.2 billion (as of February 9, 2023)

* Earnings per Share (EPS): $3.18 (FY2021)

* Price-to-Earnings Ratio (P/E): 12.5 (as of February 9, 2023)

* Dividend Yield: 3.2% (as of February 9, 2023)

First Citizens BancShares, Inc. has seen steady growth over the past few years, driven by a combination of organic growth and strategic acquisitions. In 2021, the company reported net income of $980 million, up from $803 million in 2020 and $708 million in 2019. The company's net interest income also grew in 2021, reaching $2.1 billion, up from $1.9 billion in 2020.

The bank's loan portfolio has also expanded in recent years, with total loans reaching $38.1 billion at the end of 2021, up from $33.1 billion at the end of 2020. At the same time, First Citizens BancShares, Inc. has maintained a strong capital position, with a total risk-based capital ratio of 13.8% as of December 31, 2021.

The company has also been active in its approach to mergers and acquisitions, completing several deals in recent years, including the acquisition of CIT Group in 2020. The acquisition of CIT Group expanded First Citizens BancShares, Inc.'s presence in several key markets and added approximately $39 billion in assets to the company's balance sheet.

Looking ahead, First Citizens BancShares, Inc. is well-positioned for continued growth, driven by a strong balance sheet, a diverse loan portfolio, and a growing presence in key markets. However, the company, like all banks, faces challenges from a low interest rate environment, potential regulatory changes, and competition from both traditional and non-traditional financial institutions. Overall, First Citizens BancShares, Inc. remains a solid investment for investors seeking exposure to the regional banking sector.