First Citizens Bancshares, Inc (NC) - Ordinary Shares - Class A

Financial Performance: First Citizens BancShares reported adjusted earnings per share (EPS) of $37.79 for Q1 2025, with adjusted net income of $528 million. The adjusted return on equity (ROE) was 9.64%, and the adjusted return on assets (ROA) was 0.95%. However, the decline in headline net interest income was noted, driven by lower loan yields and fed funds rates, with a projected decline in NII guidance for the full year to $6.55 to $6.95 billion.

Loan and Deposit Growth: Loans grew by $1.1 billion (0.8%) sequentially, concentrated in the commercial bank and SVB segments. Deposits increased by $4.1 billion (2.6%), with substantial growth in the direct bank. However, deposits in SVB commercial fell by $2.4 billion due to a strategic shift, highlighting market vulnerabilities in specific sectors.

Capital Management and Buybacks: The company has been aggressive in returning capital to shareholders, completing $2.4 billion in share repurchases (about 8.91% of Class A shares) and planning another buyback in the second half of 2025. Current CET1 capital ratio stands at 12.19%. Strong capital and liquidity positions are noted, allowing for continued buybacks even amid market uncertainties.