First Citizens BancShares Inc. (FCNCA) reports third quarter results before the US market opens on Friday, October 23. It is the first quarter to include the 138 branches the bank bought from BMO Bank N.A.

The deal closed on September 4. In a September 8 release, First Citizens said the branches brought approximately $5 billion in deposits and $650 million in loans. They stretch across North Dakota, South Dakota, Wyoming, Nebraska, Kansas, Missouri, Oklahoma, Idaho and parts of Minnesota, Oregon and Illinois.

Neither bank's release gave a price or deposit premium.

That deposit block sits inside the guidance First Citizens gave in July. Its second quarter investor presentation set third quarter ranges that assumed the branch deal would close by the end of September.

Where the July guidance ranges sit

• Period-end deposits of $179 billion to $182 billion, against $173.43 billion on June 30.
• Period-end loans of $152 billion to $155 billion, against $151.03 billion.
• Net interest income of $1.63 billion to $1.71 billion, against $1.656 billion in the second quarter.
• Adjusted noninterest expense of $1.33 billion to $1.37 billion, against $1.35 billion in the second quarter.
• Net charge-offs of 30 to 40 basis points (a basis point is one hundredth of a percentage point) of average loans.

Take out the roughly $5 billion from BMO and the deposit range implies about $0.6 billion to $3.6 billion of growth from the rest of the bank, as calculated by Trend & Ticker. On loans, the $650 million from the branches leaves about $0.3 billion to $3.3 billion for everything else, as calculated by Trend & Ticker.

A lower bar than the second quarter

Earnings Whispers puts the consensus at $45.82 per share. That is about 20% below the second quarter's adjusted $57.09, as calculated by Trend & Ticker, and close to the first quarter's adjusted $44.86.

The second quarter had help from credit. First Citizens booked a $10 million provision benefit that included a $74 million reserve release, after a $72 million provision in the first quarter.

Adjusted noninterest income also rose to $586 million from $520 million. That was above the $520 million to $560 million range the bank set for the third quarter.

Chief Executive Frank B. Holding, Jr. said in July that "Return metrics surpassed both our expectations and first quarter results."

Buybacks and the rate assumption

The bank bought back 298,907 Class A shares for $600 million in the second quarter, leaving $1.31 billion under its 2025 plan at June 30. The bank put its estimated common equity tier 1 ratio at 10.77% on that date.

The guidance assumed no rate change in the third quarter. Full year net interest income was guided to $6.60 billion to $6.75 billion. With $3.277 billion booked in the first half, that range needs $1.66 billion to $1.74 billion a quarter for the rest of 2026, as calculated by Trend & Ticker.

Management takes questions on a webcast at 9:00 a.m. Eastern Time on Friday.