RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — First Citizens BancShares Inc. (FCNCA) on Thursday reported second-quarter net income of $672 million.
The Raleigh, North Carolina-based bank said it had earnings of $55.52 per share. Earnings, adjusted for non-recurring costs, came to $57.09 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $40.45 per share.
The bank posted revenue of $3.63 billion in the period. Its revenue net of interest expense was $2.24 billion, which also beat Street forecasts. Four analysts surveyed by Zacks expected $2.16 billion.
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