First Citizens BancShares in Raleigh, N.C., reported higher quarterly profit that reflected a couple of one-time gains.
The $32.2 billion-asset company said in a press release Wednesday that second-quarter profit rose 55% from a year earlier to $69.3 million, or $5.77 a share.
Noninterest income, excluding gains from buying the failed
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First Citizens BancShares in Raleigh, N.C., has terminated five of its nine loss-share agreements with the Federal Deposit Insurance Corp.
June 20 -
First Citizens BancShares in Raleigh, N.C., has agreed to buy Cordia Bancorp in Midlothian, Va.
May 20 -
First Citizens Bancshares in Raleigh, N.C., reported an improvement in third-quarter profit thanks to the benefits of M&A and organic growth.
October 30
Net interest income fell 1% to $232.1 million. Total loans rose 6% to $20.7 billion, and the net interest margin compressed by 18 basis points to 3.13. The loan-loss provision fell 5.8% to $4.5 million.
Noninterest expense decreased by 2.3% to $258.3 million because of a $8.2 million decline in personnel expenses and a $3.2 million decrease in merger-related expenses.
First Citizens in May