First Citizens BancShares, Inc. Series C Preferred Stock (FCNCO) Balance Sheet
FCNCO balance sheet, 2025
December 31, 2025 · U.S. dollars$229.70B assets = $207.46B liabilities + $22.24B equity
Both columns are drawn to the same scale: what FCNCO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FCNCO financial health
Descriptive bands, not a rating. Fiscal 2025.
FCNCO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $32.99B2016 | $229.70B2025 | +24.1%/yr | |
| Total liabilities | $29.98B2016 | $207.46B2025 | +24.0%/yr | |
| Shareholders’ equity | $3.01B2016 | $22.24B2025 | +24.9%/yr | |
| Cash & short-term investments | $9.42B2016 | $20.83B2025 | +9.2%/yr | |
| Total debt | $1.44B2016 | $36.01B2025 | +43.0%/yr | |
| Net cash (debt) | $7.98B2016 | −$15.17B2025 | −$23.2B | |
| Working capital | −$19.27B2016 | $5.05B2025 | +$24.3B | |
| Book value per share | $250.832016 | $1,798.752025 | +24.5%/yr | |
| Debt / equity | 0.482016 | 1.622025 | +1.14 | |
| Shares outstanding | 12.0M2016 | 12.4M2025 | +0.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FCNCO assets
FCNCO liabilities and equity
FCNCO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FCNCO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $20.83B | $56.09B | $54.45B | $14.54B | $18.66B | $11.72B | $8.54B | $5.68B | $8.90B | $9.42B |
| Cash & equivalents | $20.60B | $22.18B | $34.52B | $5.54B | $9.45B | $362.0M | $376.7M | $327.4M | $336.1M | $539.7M |
| Short-term investments | $232.0M | $33.91B | $19.94B | $8.99B | $9.20B | $11.36B | $8.17B | $5.35B | $8.57B | $8.88B |
| Receivables | $146.36B | $3.49B | $3.21B | $2.87B | $1.20B | $212.2M | $123.2M | $109.9M | $95.2M | $79.8M |
| Inventory | $0 | $0 | −$4.20B | −$9.16B | −$10.46B | −$4.91B | −$1.65B | $54.7M | $48.5M | $75.7M |
| Other current assets | $804.0M | $0 | $4.20B | $9.16B | $10.50B | $4.95B | $1.65B | $0 | $0 | $0 |
| Total current assets | $168.00B | $59.58B | $57.66B | $17.41B | $19.90B | $11.98B | $8.67B | $5.79B | $9.00B | $9.50B |
| Property, plant & equipment (net) | $12.07B | $11.64B | $10.98B | $9.96B | $1.30B | $1.32B | $1.24B | $1.20B | $1.14B | $1.13B |
| Goodwill & intangible assets | $541.0M | $622.0M | $683.0M | $511.0M | $388.0M | $401.1M | $417.7M | $308.6M | $223.7M | $228.6M |
| Long-term investments | $44.69B | $46.73B | $32.15B | $20.35B | $22.23B | $14.27B | $8.28B | $7.63B | $0 | $0 |
| Other non-current assets | $4.40B | $105.14B | $112.28B | $61.07B | $14.50B | $21.99B | $21.21B | $20.47B | $24.17B | $22.13B |
| Total assets | $229.70B | $223.72B | $213.76B | $109.30B | $58.31B | $49.96B | $39.82B | $35.41B | $34.53B | $32.99B |
| Liabilities | ||||||||||
| Accounts payable | $140.0M | $134.0M | $137.0M | $57.0M | $8.0M | $170.1M | $158.9M | $104.6M | $94.9M | $87.3M |
| Short-term debt | $224.0M | $367.0M | $485.0M | $2.19B | $589.0M | $641.5M | $443.0M | $572.3M | $678.8M | $603.5M |
| Deferred revenue | — | — | — | −$995.0M | $45.5M | $44.2M | $36.7M | $44.4M | $46.9M | $29.6M |
| Total current liabilities | $162.95B | $155.73B | $146.87B | $91.93B | $51.99B | $44.07B | $34.87B | $31.24B | $29.95B | $28.76B |
| Long-term debt | $35.71B | $36.67B | $37.16B | $4.46B | $1.19B | $1.25B | $883.9M | $306.7M | $0 | $0 |
| Lease obligations | $401.0M | $372.0M | $405.0M | $7.0M | $4.3M | $6.3M | — | $13.2M | — | — |
| Other long-term liabilities | $8.80B | $9.09B | $8.47B | $3.25B | $381.6M | $407.2M | $480.2M | $368.2M | $1.25B | $1.21B |
| Total liabilities | $207.46B | $201.49B | $192.50B | $99.64B | $53.57B | $45.73B | $36.24B | $31.92B | $31.19B | $29.98B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $12.0M | $14.0M | $15.0M | $15.0M | $10.0M | $9.8M | $10.6M | $11.6M | $12.0M | $12.0M |
| Retained earnings (deficit) | $20.77B | $19.36B | $16.74B | $5.39B | $4.38B | $3.87B | $3.66B | $3.22B | $2.79B | $2.48B |
| Accumulated other comprehensive income | $83.0M | −$445.0M | −$491.0M | −$735.0M | $10.0M | $12.3M | −$126.7M | −$235.2M | −$122.3M | −$135.2M |
| Total shareholders' equity | $22.24B | $22.23B | $21.25B | $9.66B | $4.74B | $4.23B | $3.59B | $3.49B | $3.33B | $3.01B |
| Key figures | ||||||||||
| Total debt | $36.01B | $37.41B | $38.05B | $7.00B | $1.78B | $1.89B | $1.33B | $933.7M | $1.56B | $1.44B |
| Net cash (debt) | −$15.17B | $18.68B | $16.40B | $7.54B | $16.87B | $9.83B | $7.22B | $4.75B | $7.34B | $7.98B |
| Working capital | $5.05B | −$96.15B | −$89.21B | −$74.52B | −$32.10B | −$32.10B | −$26.21B | −$25.45B | −$20.95B | −$19.27B |
| Tangible book value | $21.70B | $21.61B | $20.57B | $9.15B | $4.35B | $3.83B | $3.17B | $3.18B | $3.11B | $2.78B |
| Book value per share | $1,798.75 | $1,549.75 | $1,461.83 | $621.35 | $482.68 | $420.53 | $321.89 | $292.26 | $277.61 | $250.83 |
| Shares outstanding | 12.4M | 14.3M | 14.5M | 15.6M | 9.8M | 10.1M | 11.1M | 11.9M | 12.0M | 12.0M |
| Current ratio | 1.03 | 0.38 | 0.39 | 0.19 | 0.38 | 0.27 | 0.25 | 0.19 | 0.30 | 0.33 |
| Quick ratio | 1.03 | 0.38 | 0.39 | 0.19 | 0.38 | 0.27 | 0.25 | 0.19 | 0.30 | 0.33 |
| Debt / equity | 1.62 | 1.68 | 1.79 | 0.72 | 0.38 | 0.45 | 0.37 | 0.27 | 0.47 | 0.48 |
| Equity / assets | 9.7% | 9.9% | 9.9% | 8.8% | 8.1% | 8.5% | 9.0% | 9.9% | 9.7% | 9.1% |
| Sep '26 | Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.09B | $1.52B | $24.62B | $20.83B | $38.90B | $37.38B | $35.06B | $56.09B | $54.69B | $53.18B | $56.41B | $54.45B |
| Cash & equivalents | $981.0M | $1.52B | $24.27B | $20.60B | $25.67B | $27.07B | $25.50B | $22.18B | $26.50B | $26.12B | $31.49B | $34.52B |
| Short-term investments | $112.0M | $25.46B | $353.0M | $232.0M | $13.23B | $10.31B | $9.55B | $33.91B | $28.19B | $27.05B | $24.91B | $19.94B |
| Receivables | $0 | $943.0M | $955.0M | $146.36B | $6.48B | $6.19B | $6.11B | $3.49B | $3.40B | $3.44B | $3.16B | $3.21B |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$4.21B | −$2.46B | −$2.30B |
| Other current assets | $0 | $0 | $167.0M | $804.0M | $0 | $0 | $0 | $0 | $0 | $4.21B | $2.46B | $2.30B |
| Total current assets | $1.09B | $1.52B | $25.74B | $168.00B | $45.38B | $43.57B | $41.16B | $59.58B | $58.09B | $56.62B | $59.57B | $57.66B |
| Property, plant & equipment (net) | $2.75B | $12.28B | $12.18B | $12.07B | $12.03B | $11.90B | $11.71B | $11.64B | $11.49B | $11.23B | $11.07B | $10.98B |
| Goodwill & intangible assets | $767.0M | $517.0M | $528.0M | $541.0M | $584.0M | $596.0M | $608.0M | $622.0M | $638.0M | $652.0M | $666.0M | $683.0M |
| Long-term investments | $0 | $46.45B | $46.06B | $44.69B | $45.28B | $43.49B | $44.45B | $46.73B | $41.01B | $40.02B | $37.25B | $32.15B |
| Other non-current assets | $236.57B | $176.08B | $151.44B | $4.40B | $130.21B | $130.10B | $130.88B | $105.14B | $109.34B | $111.31B | $109.28B | $112.28B |
| Total assets | $241.18B | $236.84B | $235.96B | $229.70B | $233.49B | $229.65B | $228.82B | $223.72B | $220.57B | $219.83B | $217.84B | $213.76B |
| Liabilities | ||||||||||||
| Accounts payable | — | $167.0M | $109.0M | $140.0M | $105.0M | $120.0M | $107.0M | $134.0M | $149.0M | $159.0M | $141.0M | $137.0M |
| Short-term debt | $116.0M | $152.0M | $170.0M | $224.0M | $423.0M | $471.0M | $450.0M | $367.0M | $391.0M | $386.0M | $395.0M | $485.0M |
| Total current liabilities | $116.0M | $152.0M | $172.30B | $162.95B | $163.72B | $160.53B | $159.88B | $155.73B | $152.38B | $151.98B | $150.69B | $146.87B |
| Long-term debt | $0 | $31.95B | $33.72B | $35.71B | $38.19B | $37.58B | $37.92B | $36.67B | $36.76B | $37.06B | $37.14B | $37.16B |
| Lease obligations | — | $395.0M | $390.0M | $401.0M | $408.0M | $419.0M | $376.0M | $372.0M | $381.0M | $393.0M | $405.0M | $405.0M |
| Other long-term liabilities | $219.49B | $182.84B | $7.90B | $8.80B | $9.60B | $9.25B | $8.72B | $9.09B | $8.60B | $8.29B | $8.16B | $8.47B |
| Total liabilities | $219.60B | $214.94B | $213.91B | $207.46B | $211.50B | $207.36B | $206.53B | $201.49B | $197.74B | $197.34B | $195.99B | $192.50B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $11.0M | $12.0M | $12.0M | $13.0M | $13.0M | $13.0M | $14.0M | $14.0M | $15.0M | $15.0M | $15.0M |
| Retained earnings (deficit) | $20.30B | $20.35B | $20.34B | $20.77B | $20.87B | $20.34B | $19.80B | $19.36B | $18.70B | $18.10B | $17.43B | $16.74B |
| Accumulated other comprehensive income | −$796.0M | −$230.0M | −$72.0M | $83.0M | −$44.0M | −$114.0M | −$199.0M | −$445.0M | −$159.0M | −$610.0M | −$582.0M | −$491.0M |
| Total shareholders' equity | $21.58B | $21.90B | $22.05B | $22.24B | $21.99B | $22.30B | $22.30B | $22.23B | $22.83B | $22.49B | $21.85B | $21.25B |
| Key figures | ||||||||||||
| Total debt | $116.0M | $32.19B | $33.96B | $36.01B | $39.02B | $38.47B | $38.75B | $37.41B | $37.53B | $37.84B | $37.94B | $38.05B |
| Net cash (debt) | $977.0M | −$30.67B | −$9.34B | −$15.17B | −$116.0M | −$1.08B | −$3.69B | $18.68B | $17.16B | $15.34B | $18.47B | $16.40B |
| Working capital | $977.0M | $1.37B | −$146.55B | $5.05B | −$118.34B | −$116.96B | −$118.72B | −$96.15B | −$94.29B | −$95.36B | −$91.13B | −$89.21B |
| Tangible book value | $20.81B | $21.38B | $21.52B | $21.70B | $21.40B | $21.70B | $21.69B | $21.61B | $22.19B | $21.84B | $21.18B | $20.57B |
| Book value per share | $1,917.87 | $1,898.44 | $1,848.90 | $1,798.75 | $1,711.06 | $1,684.34 | $1,642.36 | $1,595.92 | $1,587.92 | $1,547.20 | $1,503.03 | $1,461.83 |
| Shares outstanding | 11.3M | 11.5M | 11.9M | 12.4M | 12.8M | 13.2M | 13.6M | 13.9M | 14.4M | 14.5M | 14.5M | 14.5M |
| Current ratio | 9.42 | 9.99 | 0.15 | 1.03 | 0.28 | 0.27 | 0.26 | 0.38 | 0.38 | 0.37 | 0.40 | 0.39 |
| Quick ratio | 9.42 | 16.20 | 0.15 | 1.03 | 0.28 | 0.27 | 0.26 | 0.38 | 0.38 | 0.37 | 0.40 | 0.39 |
| Debt / equity | 0.01 | 1.47 | 1.54 | 1.62 | 1.77 | 1.73 | 1.74 | 1.68 | 1.64 | 1.68 | 1.74 | 1.79 |
| Equity / assets | 8.9% | 9.2% | 9.3% | 9.7% | 9.4% | 9.7% | 9.7% | 9.9% | 10.3% | 10.2% | 10.0% | 9.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 24, 2026); data from EODHD.
FCNCO financial position
At the end of fiscal 2025 (December 31, 2025), First Citizens Series C Preferred had total assets of $229.7 billion (up 2.7% from a year earlier), total liabilities of $207.5 billion and shareholders' equity of $22.2 billion. It held $20.8 billion in cash and short-term investments against $36.0 billion of debt, net debt of $15.2 billion. Its current ratio was 1.03. In the latest quarter (ended September 30, 2026) total assets were $241.2 billion and equity $21.6 billion.
Related: FCNCO income statement, FCNCO cash flow statement, FCNCO key metrics. See the FCNCO stock overview for the latest quote and news.
FCNCO balance sheet FAQ
What are First Citizens Series C Preferred's total assets?
First Citizens Series C Preferred reported total assets of $229.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $223.7 billion a year earlier.
How much debt does First Citizens Series C Preferred have?
First Citizens Series C Preferred had $36.0 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.62.
How much cash does First Citizens Series C Preferred have?
First Citizens Series C Preferred held $20.8 billion in cash and short-term investments at the end of fiscal 2025; with $36.0 billion of debt that is net debt of $15.2 billion.
What is First Citizens Series C Preferred's book value?
First Citizens Series C Preferred's shareholders' equity (book value) was $22.2 billion at the end of fiscal 2025, or $1,798.75 per share.
What is First Citizens Series C Preferred's current ratio?
First Citizens Series C Preferred had current assets of $168.0 billion and current liabilities of $162.9 billion, a current ratio of 1.03 (it can cover its short-term obligations).
How much goodwill does First Citizens Series C Preferred have?
First Citizens Series C Preferred carried $541.0 million of goodwill and intangible assets, 0.2% of total assets, at the end of fiscal 2025.