RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — First Citizens BancShares Inc. (FCNCA) on Friday reported second-quarter earnings of $575 million.
The bank, based in Raleigh, North Carolina, said it had earnings of $42.36 per share. Earnings, adjusted for non-recurring costs, were $44.78 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $39.08 per share.
The bank posted revenue of $3.62 billion in the period. Its revenue net of interest expense was $2.21 billion, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $2.18 billion.
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