First Citizens reports Q2 adjusted EPS $45.87, consensus $45.92

Reports Q2 book value per share $1,300.93. Reports Q2 CET1 capital ratio 13.38%. Reports Q2 net charge-offs .47%. Chairman and CEO Frank Holding, Jr. said: “We are proud of our continued strong financial performance in the second quarter as we drove momentum in our legacy business lines and began to realize the long-term strategic and financial value of our combination with SVB. Our performance was supported by the progress we made integrating SVB and our continuing efforts to provide stability and continuity for our clients and associates. We also continue to build on the strengths of our combined team, including leveraging SVB’s deep innovation economy expertise and maintaining their unique approach to serving clients. As we navigate an uncertain macroeconomic environment, we remain focused on maintaining strong capital and liquidity positions as well as delivering long-term stockholder value.”