First Citizens BancShares Inc. (FCNCA) announced a rise in net income available to common stockholders for the fourth quarter, reaching $685 million, up from $499 million in the same quarter the previous year. The earnings per common share increased to $49.21 from $34.33, whereas the adjusted earnings per share (EPS) slightly declined to $45.10 compared to $46.58. Market analysts had, on average, projected a profit per share of $39.11 for the quarter, typically not factoring in special items.
The company's net interest income saw a decline, amounting to $1.71 billion from last year's $1.91 billion. Meanwhile, noninterest income rose to $699 million, compared to $543 million in the previous year. Analysts had predicted an average revenue of $2.21 billion for this period.
