First Citizens BancShares, Inc. Provides Net Interest Income Guidance for the First Quarter and Full Year of 2024
January 26, 2024 at 09:00 am EST
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First Citizens BancShares, Inc. provided net interest income guidance for the first quarter and full year of 2024. For the first quarter, the company expects net interest income to be down in mid-single-digit percentage points range with and without accretion. The decline in headline net interest income will be driven by the impact of lower accretion and higher deposit costs, only partially offset by higher investment yields.
For the full year, the company expects net interest income in the range of $6.9 billion to $7.1 billion, with the low end assuming 6 rate cuts and the high end, assuming 3 rate cuts.
First Citizens BancShares, Inc. is a holding company of First-Citizens Bank & Trust Company. The Company has four segments. General Banking segment delivers products and services to consumers and businesses through its network of branches and various digital channels. Commercial Banking segment provides a range of lending, leasing, capital markets, asset management and other financial and advisory services, primarily to small and middle market companies in a range of industries, including energy, healthcare, tech media and telecom, asset-backed lending, capital finance, maritime, corporate banking, aerospace and defense, and sponsor finance. Silicon Valley Banking segment offers products and services to commercial clients in key innovation markets, such as the healthcare and technology industries, as well as to private equity and venture capital firms. Rail segment offers customized leasing and financing solutions on a fleet of railcars and locomotives to railroads and shippers.
FIRST CITIZENS BANCSHARES, INC. 
