First Citizens BancShares, Inc. (FCNCA) Q2 2022 Earnings Call Transcript

For the period ending June 30, 2022

July 28, 2022 9:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by, and welcome to the First Citizens BancShares' Second Quarter 2022 Earnings Conference Call. [Operator Instructions]. As a reminder, today's conference call is being recorded.

I would now like to introduce the host of this conference call, Ms. Deanna Hart, Senior Vice President of Investor Relations. Deanna, you may begin.

Deanna Hart

Thank you. Good morning, everyone, and thank you for joining us to review First Citizens Bank's second quarter 2022 financial results. It is my pleasure to introduce our Chairman and Chief Executive Officer, Frank Holding; our Chief Financial Officer, Craig Nix; our President, Peter Bristow; and our Chief Credit Officer, Marisa Harney, who will be speaking to you today to provide an update on our merger integration progress and our second quarter 2022 performance.

We are also pleased to have several other members of our leadership team in attendance, who will be available to participate in the question-and-answer portion of our call, if needed. During the call, we will be referencing our investor presentation, which you can find on our website. An agenda for today's presentation is on Page 2 of the materials. Following the completion of our formal presentation, we'll be happy to take any questions you may have.

As you are aware, we closed the merger with CIT Group on January 3, 2022. Given the magnitude of this merger on our legacy results, we have included combined numbers for historical periods for comparison purposes. There are footnotes embedded in the presentation to indicate when historical numbers are combined or if they are presented on a legacy First Citizens stand-alone basis.

As a reminder, our comments during today's presentation will include forward-looking statements, which are subject to risks and uncertainties that may cause our actual results to differ materially from expectations. We assume no obligation to update such statements. These risks are outlined for your view on Page 3 of the presentation. We will also reference non-GAAP financial measures. Reconciliations of these measures against the most directly comparable GAAP measures are available in the appendix.

Finally, First Citizens is not responsible for and does not edit nor guarantee the accuracy of our earnings teleconference transcripts provided by third parties.

With that, I'll hand it over to Frank.

Frank Holding