First Citizens BancShares
Financial Performance
First Citizens BancShares Revenue & Financials
Revenue
$9.4B (FY2024)
Employees
16,500
What is First Citizens BancShares's revenue?
First Citizens BancShares had $9.4B in revenue for fiscal year 2024, up 12% from 2023.
- Latest revenue
- $9.4B (FY2024)
- Year-over-year
- +12%
- Growth rate (CAGR)
- 71.3% over 3 years
- Peak revenue
- $9.4B (FY2024)
- Years of data
- 4
- Employees
- 16,500
- How many employees does First Citizens BancShares have?
- First Citizens BancShares has about 16,500 employees.
Financial Analysis
First Citizens produced record financial performance following the SVB integration, recording total revenues of $9.4 billion in 2024. The substantial purchase discount received in the FDIC transaction generated billions in immediate tangible book value, propelling First Citizens' stock to historic highs and delivering industry-leading return on tangible common equity (ROTCE) exceeding 20%.
Revenue Trend Analysis
YoY Change
+12%
3-Year CAGR
+71.3%
Peak Year
2024
Trend
Consistent Growth
First Citizens BancShares has 4 full fiscal year figures on this page, compounding at +71.3% annually over 3 years. The most recent year saw a 12% increase versus the prior year. Annual revenue peaked in fiscal year 2024 at $9.4B. Of 3 comparable year-over-year steps, 3 showed growth and 0 showed a decline.
Annual revenue history
| Fiscal Year | Revenue | YoY Change |
|---|---|---|
| FY2024 | $9.4B | +12.0% |
| FY2023 | $8.4B | +97.4% |
| FY2022 | $4.3B | +127.3% |
| FY2021 | $1.9B | — |
Click any row to see year details.
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First Citizens BancShares Revenue and Financial FAQ
What was First Citizens BancShares's revenue in 2021?
First Citizens BancShares achieved $9.4B in revenue for fiscal year 2021.
Is First Citizens BancShares profitable?
First Citizens BancShares's financial performance balances disciplined operating profitability with strategic reinvestment into engineering, infrastructure, and international sales expansion.
How fast is First Citizens BancShares growing?
First Citizens BancShares has achieved solid compound annual revenue growth supported by strong enterprise customer retention and expanding average contract values.
How does First Citizens BancShares fund its capital expenditures?
First Citizens BancShares funds capital outlays through operating cash flows, institutional credit facilities, and equity capital reserves.
What is First Citizens BancShares's debt profile?
First Citizens BancShares maintains a conservative debt-to-capitalization profile, prioritizing financial flexibility and low interest obligations.
Where does First Citizens BancShares reinvest its profits?
Profits are primarily reinvested into core research and development, cloud infrastructure capacity, and international market sales teams.
Cite or embed this data
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "First Citizens BancShares Revenue & Financials." CorpDigest, https://corpdigest.com/company/first-citizens-bank/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>First Citizens BancShares reported $9.4B in revenue (FY2024).</strong><br>Source: <a href="https://corpdigest.com/company/first-citizens-bank/financials" target="_blank" rel="noopener">CorpDigest — First Citizens BancShares financials</a></div>Related Financial Audits
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