FIRST CITIZENS BANCSHARES INC /DE/ Earnings Per Share Disclosure
dollars in millions, except share and per share data | Year Ended December 31, | ||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net income | $ | 2,206 | $ | 2,777 | $ | 11,466 | |||||||||||
| Preferred stock dividends | 57 | 61 | 59 | ||||||||||||||
| Net income available to common stockholders | $ | 2,149 | $ | 2,716 | $ | 11,407 | |||||||||||
| Weighted average common shares outstanding | |||||||||||||||||
| Basic shares outstanding | 13,002,455 | 14,341,872 | 14,527,902 | ||||||||||||||
| Stock-based awards | — | 783 | 11,711 | ||||||||||||||
| Diluted shares outstanding | 13,002,455 | 14,342,655 | 14,539,613 | ||||||||||||||
| Earnings per common share | |||||||||||||||||
| Basic | $ | 165.24 | $ | 189.42 | $ | 785.14 | |||||||||||
| Diluted | $ | 165.24 | $ | 189.41 | $ | 784.51 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 24, 2023 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.