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Stock Market & Financial Investment News

News Breaks
August 8, 2014
10:54 EDTFCNCAFirst Citizens Bancshares reports Q2 EPS $2.76 vs. $2.33 last year
The increase in earnings Q2 compared to Q1 is primarily the result of a larger credit to provision for loan and lease losses due to acquired loan resolutions, continued loan growth and modest margin improvement. The decrease in earnings for Q2 compared to the same quarter in the prior year is driven by runoff in the acquired loan portfolio and a smaller credit to provision expense for loan and lease losses, partially offset by improved investment securities yields and continued reduction of funding costs.
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