First Citizens BancShares Reports Strong Q4 Earnings, Beating Expectations

First Citizens BancShares Inc. (FCNCA) announced a fourth-quarter profit of $700 million, exceeding Wall Street estimates.

Earnings per share came in at $49.21, while adjusted earnings per share excluding non-recurring gains were $45.10, surpassing analysts' predictions of $39.46.

Revenue reached $3.7 billion, with net revenue of $2.41 billion, also outperforming forecasts of $2.25 billion.

For the full year, the company reported a profit of $2.78 billion ($189.41 per share) on revenue of $9.76 billion.