First Citizens BancShares, Inc. (FCNCA) - Net Assets
Based on the latest financial reports, First Citizens BancShares, Inc. (FCNCA) has net assets worth $22.05 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($235.96 Billion) and total liabilities ($213.91 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how tangible is First Citizens BancShares, Inc.'s equity to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $22.05 Billion |
| % of Total Assets | 9.34% |
| Annual Growth Rate | 13.6% |
| 5-Year Change | -61.06% |
| 10-Year Change | 638.21% |
| Growth Volatility | 169.39 |
First Citizens BancShares, Inc. - Net Assets Trend (1990–2025)
This chart illustrates how First Citizens BancShares, Inc.'s net assets have evolved over time, based on quarterly financial data. See FCNCA days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for First Citizens BancShares, Inc. (1990–2025)
The table below shows the annual net assets of First Citizens BancShares, Inc. from 1990 to 2025. For live valuation and market cap data, see FCNCA market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $22.24 Billion | +0.04% |
| 2024-12-31 | $22.23 Billion | +4.58% |
| 2023-12-31 | $21.25 Billion | +119.99% |
| 2022-12-31 | $9.66 Billion | -83.08% |
| 2021-12-31 | $57.11 Billion | +17.25% |
| 2020-12-31 | $48.71 Billion | +25.09% |
| 2019-12-31 | $38.94 Billion | +1016.11% |
| 2018-12-31 | $3.49 Billion | +4.65% |
| 2017-12-31 | $3.33 Billion | +10.68% |
| 2016-12-31 | $3.01 Billion | +4.89% |
| 2015-12-31 | $2.87 Billion | +6.87% |
| 2014-12-31 | $2.69 Billion | +29.74% |
| 2013-12-31 | $2.07 Billion | +11.13% |
| 2012-12-31 | $1.86 Billion | +0.15% |
| 2011-12-31 | $1.86 Billion | +7.40% |
| 2010-12-31 | $1.73 Billion | +11.15% |
| 2009-12-31 | $1.56 Billion | +8.02% |
| 2008-12-31 | $1.44 Billion | +0.15% |
| 2007-12-31 | $1.44 Billion | +9.95% |
| 2006-12-31 | $1.31 Billion | +10.99% |
| 2005-12-31 | $1.18 Billion | +8.72% |
| 2004-12-31 | $1.09 Billion | +5.54% |
| 2003-12-31 | $1.03 Billion | +6.41% |
| 2002-12-31 | $967.29 Million | +9.29% |
| 2001-12-31 | $885.04 Million | +9.17% |
| 2000-12-31 | $810.73 Million | +11.24% |
| 1999-12-31 | $728.80 Million | +10.31% |
| 1998-12-31 | $660.70 Million | +9.82% |
| 1997-12-31 | $601.60 Million | -2.26% |
| 1996-12-31 | $615.50 Million | +18.18% |
| 1995-12-31 | $520.80 Million | +15.89% |
| 1994-12-31 | $449.40 Million | +15.50% |
| 1993-12-31 | $389.10 Million | +16.57% |
| 1992-12-31 | $333.80 Million | +17.87% |
| 1991-12-31 | $283.20 Million | +10.63% |
| 1990-12-31 | $256.00 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Citizens BancShares, Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 10362.5% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $20.77 Billion | 93.39% |
| Common Stock | $12.00 Million | 0.05% |
| Other Comprehensive Income | $83.00 Million | 0.37% |
| Other Components | $1.38 Billion | 6.18% |
| Total Equity | $22.24 Billion | 100.00% |
First Citizens BancShares, Inc. Competitors by Market Cap
The table below lists competitors of First Citizens BancShares, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
ZTE Corp
SHE:000063
|
$22.19 Billion |
|
MTN Group Ltd
JSE:MTN
|
$22.19 Billion |
|
BCE Inc
TO:BCE
|
$22.20 Billion |
|
Indian Oil Corporation Limited
NSE:IOC
|
$22.21 Billion |
|
Loews Corp
NYSE:L
|
$22.16 Billion |
|
KUAISHOU TECHNOLOGY CL.B
F:5Y0
|
$22.12 Billion |
|
Pure Storage Inc
NYSE:PSTG
|
$22.11 Billion |
|
Northern Star Resources Ltd
AU:NST
|
$22.11 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Citizens BancShares, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 22,228,000,000 to 22,238,000,000, a change of 10,000,000 (0.0%).
- Net income of 2,206,000,000 contributed positively to equity growth.
- Dividend payments of 161,000,000 reduced retained earnings.
- Share repurchases of 3,027,000,000 reduced equity.
- New share issuances of 494,000,000 increased equity.
- Other comprehensive income increased equity by 528,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $2.21 Billion | +9.92% |
| Dividends Paid | $161.00 Million | -0.72% |
| Share Repurchases | $3.03 Billion | -13.61% |
| Share Issuances | $494.00 Million | +2.22% |
| Other Comprehensive Income | $528.00 Million | +2.37% |
| Other Changes | $-30.00 Million | -0.13% |
| Total Change | $- | 0.04% |
Book Value vs Market Value Analysis
This analysis compares First Citizens BancShares, Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.16x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 76.01x to 1.16x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1990-12-31 | $27.49 | $2089.82 | x |
| 1991-12-31 | $30.26 | $2089.82 | x |
| 1992-12-31 | $35.12 | $2089.82 | x |
| 1993-12-31 | $40.10 | $2089.82 | x |
| 1994-12-31 | $45.20 | $2089.82 | x |
| 1995-12-31 | $49.15 | $2089.82 | x |
| 1996-12-31 | $54.27 | $2089.82 | x |
| 1997-12-31 | $53.00 | $2089.82 | x |
| 1998-12-31 | $61.43 | $2089.82 | x |
| 1999-12-31 | $68.57 | $2089.82 | x |
| 2000-12-31 | $76.83 | $2089.82 | x |
| 2001-12-31 | $84.23 | $2089.82 | x |
| 2002-12-31 | $92.31 | $2089.82 | x |
| 2003-12-31 | $98.47 | $2089.82 | x |
| 2004-12-31 | $104.10 | $2089.82 | x |
| 2005-12-31 | $113.19 | $2089.82 | x |
| 2006-12-31 | $125.63 | $2089.82 | x |
| 2007-12-31 | $138.13 | $2089.82 | x |
| 2008-12-31 | $138.33 | $2089.82 | x |
| 2009-12-31 | $149.47 | $2089.82 | x |
| 2010-12-31 | $166.07 | $2089.82 | x |
| 2011-12-31 | $179.37 | $2089.82 | x |
| 2012-12-31 | $181.96 | $2089.82 | x |
| 2013-12-31 | $215.35 | $2089.82 | x |
| 2014-12-31 | $262.92 | $2089.82 | x |
| 2015-12-31 | $239.14 | $2089.82 | x |
| 2016-12-31 | $250.83 | $2089.82 | x |
| 2017-12-31 | $277.61 | $2089.82 | x |
| 2018-12-31 | $292.26 | $2089.82 | x |
| 2019-12-31 | $3495.23 | $2089.82 | x |
| 2020-12-31 | $4843.51 | $2089.82 | x |
| 2021-12-31 | $5818.20 | $2089.82 | x |
| 2022-12-31 | $621.35 | $2089.82 | x |
| 2023-12-31 | $1461.83 | $2089.82 | x |
| 2024-12-31 | $1549.75 | $2089.82 | x |
| 2025-12-31 | $1798.75 | $2089.82 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Citizens BancShares, Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 9.92%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 15.22%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 10.33x
- Recent ROE (9.92%) is below the historical average (10.36%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1990 | 11.09% | 6.75% | 0.09x | 18.85x | $2.80 Million |
| 1991 | 10.31% | 5.93% | 0.09x | 19.30x | $880.00K |
| 1992 | 15.52% | 11.15% | 0.09x | 16.22x | $18.42 Million |
| 1993 | 14.29% | 12.34% | 0.07x | 15.68x | $16.69 Million |
| 1994 | 11.35% | 11.10% | 0.07x | 14.09x | $6.06 Million |
| 1995 | 10.93% | 10.10% | 0.08x | 14.18x | $4.82 Million |
| 1996 | 10.64% | 10.27% | 0.08x | 13.09x | $3.95 Million |
| 1997 | 11.74% | 10.27% | 0.08x | 14.88x | $10.44 Million |
| 1998 | 10.75% | 9.28% | 0.08x | 14.54x | $4.93 Million |
| 1999 | 11.22% | 10.23% | 0.08x | 13.33x | $8.92 Million |
| 2000 | 12.13% | 10.80% | 0.09x | 13.19x | $17.24 Million |
| 2001 | 9.82% | 9.35% | 0.08x | 13.41x | $-1.57 Million |
| 2002 | 9.59% | 11.36% | 0.07x | 12.65x | $-3.97 Million |
| 2003 | 7.30% | 9.97% | 0.06x | 12.20x | $-27.74 Million |
| 2004 | 6.89% | 9.69% | 0.06x | 12.21x | $-33.79 Million |
| 2005 | 9.56% | 12.17% | 0.06x | 12.40x | $-5.24 Million |
| 2006 | 9.65% | 11.48% | 0.07x | 12.00x | $-4.59 Million |
| 2007 | 7.54% | 9.05% | 0.07x | 11.25x | $-35.50 Million |
| 2008 | 6.31% | 8.08% | 0.07x | 11.60x | $-53.28 Million |
| 2009 | 7.46% | 11.22% | 0.06x | 11.84x | $-39.58 Million |
| 2010 | 11.14% | 15.57% | 0.06x | 12.01x | $19.75 Million |
| 2011 | 10.48% | 14.67% | 0.06x | 11.28x | $8.92 Million |
| 2012 | 7.10% | 11.06% | 0.06x | 11.42x | $-54.01 Million |
| 2013 | 8.06% | 15.68% | 0.05x | 10.23x | $-40.28 Million |
| 2014 | 5.16% | 13.25% | 0.03x | 11.19x | $-130.20 Million |
| 2015 | 7.33% | 16.11% | 0.04x | 10.96x | $-76.82 Million |
| 2016 | 7.49% | 16.83% | 0.04x | 10.95x | $-75.76 Million |
| 2017 | 9.71% | 22.29% | 0.04x | 10.36x | $-9.65 Million |
| 2018 | 11.47% | 25.19% | 0.04x | 10.15x | $51.42 Million |
| 2019 | 1.17% | 25.55% | 0.04x | 1.02x | $-3.44 Billion |
| 2020 | 1.01% | 25.68% | 0.04x | 1.03x | $-4.38 Billion |
| 2021 | 0.96% | 28.80% | 0.03x | 1.02x | $-5.16 Billion |
| 2022 | 11.36% | 21.55% | 0.05x | 11.31x | $131.80 Million |
| 2023 | 53.94% | 90.73% | 0.06x | 10.06x | $9.34 Billion |
| 2024 | 12.49% | 18.59% | 0.07x | 10.06x | $554.20 Million |
| 2025 | 9.92% | 15.22% | 0.06x | 10.33x | $-17.80 Million |
Industry Comparison
This section compares First Citizens BancShares, Inc.'s net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $389,399,400
- Average return on equity (ROE) among peers: 10.20%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Citizens BancShares, Inc. (FCNCA) | $22.05 Billion | 11.09% | 9.70x | $22.18 Billion |
| Ameris Bancorp (ABCB) | $514.76 Million | 7.94% | 9.86x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $68.20 Million | 10.85% | 9.15x | $5.79 Billion |
| ACNB Corporation (ACNB) | $51.46 Million | 12.55% | 7.93x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $76.38 Million | 0.59% | 3.01x | $137.13 Million |
| Alerus Financial Corp (ALRS) | $127.25 Million | 8.42% | 8.09x | $736.27 Million |
| Amalgamated Bank (AMAL) | $508.95 Million | 16.01% | 14.41x | $1.27 Billion |
| Amerant Bancorp Inc. (AMTB) | $1.00 Billion | 3.23% | 8.67x | $974.56 Million |
| Arrow Financial Corporation (AROW) | $431.85 Million | 10.18% | 9.29x | $622.98 Million |
| Associated Banc-Corp (ASB) | $968.70 Million | 17.34% | 12.55x | $5.45 Billion |
| AmeriServ Financial Inc (ASRV) | $141.70 Million | 14.89% | 15.78x | $62.43 Million |
About First Citizens BancShares, Inc.
First Citizens BancShares, Inc. operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally. It operates through the General Bank, Commercial Bank, and Rail segments. The General Bank segment offers deposit products, including checking, savings, m… Read more