Raleigh-based First Citizens Bank boosted its net income in the fourth quarter.
The bank’s corporate parent, First Citizens BancShares, reported this week that its net income for the fourth quarter was $52.7 million, or $4.39 per share. That’s up from $51.4 million in the third quarter and $42.7 million in the year-ago quarter.
For all of 2016, net income totaled $225.5 million, or $18.77 per share, up from $210.4 million in 2015. The 2016 numbers were impacted by a $5.8 million gain on acquisitions; the 2015 numbers included a $42.9 million gain on acquisitions.
Loans as of Dec. 31 totaled $21.74 billion, up $440.9 million since the end of the third quarter. That helped push net interest income to $243.9 million, up 3.4 percent.
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First Citizens has more than 550 branches in 21 states and $33 billion in assets.