First Citizens BancShares ( (FCNCA) ) just unveiled an update.
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First Citizens BancShares reported robust third-quarter 2024 earnings, driven by resilient loan growth in the General and Commercial Bank segments, despite a decline in the SVB Commercial segment. The bank saw deposit growth, particularly in its branch network, and maintained strong credit, capital, and liquidity positions. Notable financial activities included repurchasing over 350,000 shares and managing the impact of Hurricanes Helene and Milton. The quarter experienced a decrease in net interest income due to rising interest expenses, while noninterest income saw a slight increase due to favorable adjustments in equity securities.
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