RALEIGH, N.C. (AP) — RALEIGH, N.C. (AP) — First Citizens BancShares Inc. (FCNCA) on Thursday reported first-quarter profit of $731 million.

The Raleigh, North Carolina-based bank said it had earnings of $49.26 per share. Earnings, adjusted for non-recurring costs, were $52.92 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $44.27 per share.

The bank posted revenue of $3.71 billion in the period. Its revenue net of interest expense was $2.44 billion, also topping Street forecasts. Five analysts surveyed by Zacks expected $2.3 billion.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FCNCA at https://www.zacks.com/ap/FCNCA

For copyright information, check with the distributor of this item, STATS Perform dba Automated Insights. , source Associated Press News