RALEIGH, N.C., Oct. 25, 2010 (GLOBE NEWSWIRE) -- First Citizens BancShares Inc. (Nasdaq:FCNCA) reports earnings for the quarter ending September 30, 2010, of $27.7 million, compared to $82.5 million for the corresponding period of 2009, according to Frank B. Holding Jr., chairman of the board. Net income for the third quarter of 2010 declined $54.7 million, or 66.4 percent, from the same quarter of 2009. Per share income for the third quarter 2010 totaled $2.66, compared to $7.90 for the same period a year ago. The decline primarily results from significant acquisition gains reported during the third quarter of 2009 that resulted from two FDIC-assisted transactions. The 2009 acquisition gains represented $63.5 million after tax, or $6.09 per share.
First Citizens Reports Earnings For Third Quarter 2010
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.