RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — First Citizens BancShares Inc. (FCNCA) on Friday reported fourth-quarter earnings of $580 million.
The Raleigh, North Carolina-based bank said it had earnings of $45.81 per share. Earnings, adjusted for non-recurring costs, came to $51.27 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $44.21 per share.
The bank posted revenue of $3.66 billion in the period. Its revenue net of interest expense was $2.25 billion, also beating Street forecasts. Six analysts surveyed by Zacks expected $2.21 billion.
For the year, the company reported profit of $2.21 billion, or $165.24 per share. Revenue was reported as $8.85 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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