First Citizens BancShares reported a strong first-quarter performance, surpassing profit expectations primarily due to increased interest income following its acquisition of Silicon Valley Bank (SVB). This marks the first net growth in loans at SVB since its collapse. The positive earnings report significantly boosted First Citizens' stock, which reached an all-time high, contrasting with a decline in Valley National's shares. Meanwhile, JPMorgan CEO Jamie Dimon expressed concerns about potential stagflation similar to the 1970s in the U.S., attributing it to national debt issues. Dimon also warned against complacency regarding the economic outlook, doubting a smooth economic soft landing.
Capital One's first-quarter profit jumps on interest income boost https://t.co/gkKpzamZfP https://t.co/8DSl8BFRtJ
First Citizens stock touches all-time high on Q1 results; Valley National drops https://t.co/nrx4jF734B
First Citizens beats profit estimates, says SVB business stabilized https://t.co/x0ExHP6N8D https://t.co/SPfuv5LXKO
First Citizens’ stock boosted by first-quarter earnings, while Valley National shares drop https://t.co/8mXp1BF17A
First Citizens’ first-quarter profit tops estimates on interest income strength https://t.co/N0vkFR1kPC
#FirstCitizens $FCNCA results today show the first net growth in loans at #SiliconValleyBank since its collapse. Check out my profile of how its battling to regain its place in startup world against new entrants #HSBC and #JPMorgan >> https://t.co/QwRPiLO8mH via @opinion https://t.co/T1DH25WrfN
⚠️ SVB-OWNER FIRST CITIZENS' PROFIT BEATS ESTIMATES ON INTEREST INCOME STRENGTH Full Story → https://t.co/qNJKmdk82u First Citizens BancShares' first-quarter profit beat expectations as the lender earned higher interest income and reaped the benefits of its acquisition of… https://t.co/W9gJWFwJpp
First Citizens, which scooped up Silicon Valley Bank after the lender failed last year, lifted its guidance for lending income for 2024 https://t.co/Tgc6IEch5b
Jamie Dimon is skeptical of a soft landing. "Don't get lulled into a false sense of security." The JPMorgan CEO sits down with our editor in chief. https://t.co/vyWUBkWZ4O https://t.co/vyWUBkWZ4O
JPMorgan’s Jamie Dimon can’t shake the worry America is headed for a repeat of 1970s-style stagflation—and national debt may be to blame. https://t.co/foUnWtpr3t
Jamie Dimon has a rival in the tech lending business. A year after its collapse, Silicon Valley Bank lives to fight another day, @PaulJDavies writes https://t.co/qP8WzbtjZL via @opinion