On Wednesday, First Citizen BancShares Inc (FCNCA.O) posted a first-quarter profit of $9.82 billion, largely thanks to its purchase of Silicon Valley Bank in March.
The windfall contributed to a rise in earnings from $264 million, or $16.70 per share, in the same period a year earlier to $9.50 billion, or $653.64 per share.
Deposits at the Raleigh, North Carolina-based bank hit $140.05 billion in the first quarter, up nearly 57% from the year-end total.
First Citizens acquired Silicon Valley Bank with the blessing of American financial authorities, accounting for more than a third of the deposits.
