Last $244.52 USD
Change Today +5.43 / 2.27%
Volume 37.5K
As of 8:10 PM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

first citizens bcshs -cl a (FCNCA) Key Developments

First Citizens Bancshares Inc. Declares Quarterly Dividend, Payable on April 6, 2015

The Board of Directors of First Citizens BancShares Inc. declared a quarterly dividend of 30 cents per share on the Class A and Class B common stock. The dividend is payable April 6, 2015, to shareholders of record March 16, 2015.

First Citizens BancShares Appoints Sharon Bryant as South Carolina Regional Executive Vice President

First Citizens BancShares announced that Sharon Bryant has been named South Carolina Regional Executive Vice President for the combined bank. As Regional Executive, Bryant will lead the bank's South Carolina and Northeast Georgia markets and continue to oversee all retail and small business banking functions in the combined company's South Carolina metro markets, as well as retail, small business and commercial banking activities in South Carolina's community markets. Bryant has more than 30 years of banking, fiduciary and investment services experience. Most recently, she has served as South Carolina Banking Executive for First Citizens Bank and Trust. She joined the bank in 1999.

First Citizens Bancshares Inc. and First Citizens Bank Announce Executive Changes, Effective Nov. 6, 2014

First Citizens BancShares announced that Craig L. Nix has been elected by the company's board of directors to serve as chief financial officer of BancShares and its First Citizens Bank, effective Nov. 6, 2014. Nix replaces Glenn D. McCoy who retired on Nov. 5, 2014 as CFO. It was previously announced that McCoy would retire at a date following the Oct. 1 merger of First Citizens Bancorporation of South Carolina into BancShares and that Nix would become CFO. As CFO, Nix is responsible for all corporate finance functions, including accounting, financial strategy, Basel III and the tax, treasurer and vendor management groups. Nix, 43, previously served as executive vice president and chief financial officer of Bancorporation from 2001 until its merger into Bancshares. At the time of the merger, Nix became vice president of finance for BancShares and executive vice president of finance for First Citizens Bank of North Carolina. He will continue to serve as CFO of First Citizens Bank and Trust Company of South Carolina until it merges into First Citizens Bank of North Carolina, which is expected in early 2015. Nix joined First Citizens of South Carolina in 1999 as senior vice president and controller.

First Citizens Bancshares Inc. Declares Quarterly Dividend on the Class A and Class B Common Stock, Payable Jan. 5, 2015

The Board of Directors of First Citizens BancShares Inc. declared a quarterly dividend of 30 cents per share on the Class A and Class B common stock. The dividend is payable Jan. 5, 2015, to shareholders of record Dec. 15, 2014.

First Citizens Bancshares Inc. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reports Net Charge-Offs for the Third Quarter Ended September 30, 2014

First Citizens Bancshares Inc. reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net income was $26,363,000 compared to $40,982,000 for the corresponding period of 2013. Per share net income for the third quarter totaled $2.74 compared to $4.26 for the same period a year ago. Interest income was $177,621,000 compared to $192,634,000 a year ago. Net interest income was $166,222,000 against $179,183,000 a year ago. The income before income taxes was $40,265,000 against $66,641,000 a year ago. Third quarter results generated an annualized return on average assets of 0.47% and an annualized return on average equity of 4.85%, compared to respective returns of 0.76% and 8.32% for the same period of 2013. For the nine months, net income was $75,279,000 compared to $140,473,000 for the corresponding period of 2013. Per share net income totaled $7.83 compared to $14.60 for the same period a year ago. Interest income was $528,326,000 compared to $607,164,000 a year ago. The annualized return on average assets was 0.89% compared to 0.72% for the same period of 2012. Net interest income was $492,851,000 against $563,593,000 a year ago. Income before income taxes was $112,609,000 against $222,485,000 a year ago. Book value per share was $225.25 against $206.06 a year ago. The annualized return on average assets was 0.46% for the first nine months of 2014, compared to 0.89% for the same period of 2013. The annualized return on average equity was 4.74% and 9.79% for the respective periods. The company reported net charge-offs for the third quarter ended September 30, 2014. Net charge-offs on acquired loans totaled $3.3 million during the third quarter of 2014, compared to $4.4 million for the same period of 2013. Net charge-offs on originated loans decreased to $3.5 million during the third quarter of 2014, compared to $8.4 million for the third quarter of 2013.

 

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Price/Earnings 22.4x
Price/Sales 2.4x
Price/Book 1.1x
Price/Cash Flow 20.0x
TEV/Sales 0.6x
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