First Citizens: Q4 Earnings Snapshot

Associated Press Finance
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RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — First Citizens BancShares Inc. (FCNCA) on Friday reported fourth-quarter earnings of $514 million.

The Raleigh, North Carolina-based bank said it had earnings of $34.33 per share. Earnings, adjusted for non-recurring costs, were $46.58 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $48.49 per share.

The bank posted revenue of $3.66 billion in the period. Its revenue net of interest expense was $2.45 billion, topping Street forecasts. Five analysts surveyed by Zacks expected $2.36 billion.

For the year, the company reported profit of $11.47 billion, or $784.51 per share. Revenue was reported as $8.41 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCNCA at https://www.zacks.com/ap/FCNCA

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