First Citizens BancShares 8K Reports Earnings for Fourth Quarter and Full Year 2021 | FCNCO 26 Jan 22

First Citizens BancShares Fourth Quarter 2021 Earnings Conference CallJanuary 26, 2022 Exhibit 99.2

2 Important Notices Forward Looking StatementsThis communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and future performance of First Citizens BancShares, Inc. ("BancShares"). Words such as “anticipates,” “believes,” “estimates,” “expects,” “predicts,” “forecasts,” “intends,” “plans,” “projects,” “targets,” “designed,” “could,” “may,” “should,” “will,” “potential,” “continue” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on BancShares’ current expectations and assumptions regarding BancShares’ business, the economy, and other future conditions.Because forward-looking statements relate to future results and occurrences, they are subject to inherent risks, uncertainties, changes in circumstances and other risk factors that are difficult to predict. Many possible events or factors could affect BancShares’ future financial results and performance and could cause the actual results, performance or achievements of BancShares to differ materially from any anticipated results expressed or implied by such forward-looking statements. Such risks and uncertainties include, among others, general competitive, economic, political, and market conditions, the impacts of the global COVID-19 pandemic on BancShares’ business and customers, the financial success or changing conditions or strategies of BancShares’ customers or vendors, fluctuations in interest rates, actions of government regulators, the availability of capital and personnel, and the failure to realize the anticipated benefits of BancShares’ previous acquisition transaction(s), including the recently completed transaction with CIT, which acquisition risks include (1) disruption from the transaction, or recently completed mergers, with customer, supplier or employee relationships, (2) the possibility that the amount of the costs, fees, expenses and charges related to the transaction may be greater than anticipated, including as a result of unexpected or unknown factors, events or liabilities, (3) reputational risk and the reaction of the parties’ customers to the transaction, (4) the risk that the cost savings and any revenue synergies from the transaction may not be realized or take longer than anticipated to be realized, and (5) difficulties experienced in the integration of the businesses.Except to the extent required by applicable laws or regulations, BancShares disclaims any obligation to update forward-looking statements or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Additional factors which could affect the forward-looking statements can be found in BancShares’ Annual Report on Form 10-K for the fiscal year ended December 31, 2020, its Quarterly Reports on Form 10-Q for the periods ended March 31, 2021, June 30, 2021 and September 30, 2021, and its other filings with the Securities and Exchange Commission (the “SEC”), and in CIT’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as amended on Form 10-K/A, its Quarterly Reports on Form 10-Q for the periods ended March 31, 2021, June 30, 2021 and September 30, 2021, and its other filings with the SEC.Non-GAAP MeasuresCertain measures included in this presentation are "Non-GAAP," meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to BancShares. BancShares believes that Non-GAAP financial measures, when reviewed in conjunction with GAAP financial information, can provide transparency about or an alternative means of assessing its operating results and financial position to its investors, analysts and management. The Non-GAAP measures presented in this presentation are listed, and are reconciled to the most comparable GAAP measure, in the Non-GAAP reconciliation table(s) appearing in the Appendix.

3 Completed Merger with CIT Group, Inc. (1) Data as of December 31, 2021. Unless specifically noted otherwise, the financial information included in this presentation does not include the financial results of CIT. California Arizona New Mexico Texas Oregon Washington Wisconsin Missouri Florida Georgia Tennessee West Virginia MarylandVirginia NorthCarolina (HQ)South Carolina Colorado KansasOklahoma Nebraska Nevada Hawaii A Nationwide Franchise with: 600+ branches in22 states First Citizens (529)CIT Group (80) Standalone Standalone Scale $58BTotal Assets $51BTotal Deposits $32BTotal Loans & Leases Scale $53BTotal Assets $39BTotal Deposits $41BTotal Loans & Leases 120+ Year Operating History 100+ Year Operating History Complementary Marking Position 46Major MSAS Served Top 20US Bank by Assets 22States Served Increased Scale (1) $111BTotal Assets $90BTotal Deposits $73BTotal Loans and Leases

4 Forever First® means remembering that banking is about people first and money second. We are a purpose-driven bank that always puts its customers first as epitomized by our motto, Forever First® We combine the resources, convenience and services of a large national bank with the personal touch you would expect in a neighborhood bank. We've built a track record of service, stability and reliability and never compromise the security of our customers’ assets, regardless of market trends or financial pressures.

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4Q21 vs. 3Q21 Net income available to common shareholders totaled$118.6 million, or $12.09 per share in 4Q21 compared to$119.4 million, or $12.17 per share in 3Q21.Pre-provision net revenue (1) decreased $8.5 million primarily due to higher noninterest expense and lower realized gains on sales of AFS securities, partially offset by higher net interest income.The net benefit from provision for credit losses increased$4.0 million due primarily to lower net charge offs in 4Q21. 4Q21 vs. 4Q20 Net income available to common shareholders totaled$118.6 million, or $12.09 per share in 4Q21 compared to$133.4 million, or $13.59 per share in 4Q20.Pre-provision net revenue (1) decreased $31.6 million primarily due to lower noninterest income and higher noninterest expense.The net benefit from provision for credit losses was $5.1 million in 4Q21 compared to provision expense of $5.4 million in 4Q20 due to lower net charge-offs and a $4.7 million reserve release in 4Q21 compared to a nominal reserve build in 4Q20. Increase (Decrease) 3Q21 4Q20 $ in thousands 4Q21 3Q21 4Q20 $ % $ % Net interest income Noninterest income Noninterest expense $357,402 114,259323,188 $ 10,515 3.0% $ (1,314) (0.4)%(8,685) (7.1) (12,506) (9.9)10,369 3.3 17,815 5.8 Pre-provision net revenue(1) 148,473 Provision (benefit) for credit losses (5,138) $346,887 $358,716 122,944 126,765312,819 305,373157,012 180,108(1,120) 5,403 (8,539) (5.4) (31,635) (17.6)(4,018) 358.8 (10,541) (195.1) Income before income taxes 153,611 158,132 174,705 Income taxes 30,329 34,060 36,621 (4,521) (2.9) (21,094) (12.1)(3,731) (11.0) (6,292) (17.2) Net income 123,282 124,073 138,084 Preferred dividends 4,636 (791) (0.6) (14,802) (10.7)— — — — Net income available to common shareholders $118,646 4,636 4,636$119,437 $133,448 $ (791) (0.7)% $(14,802) (11.1)% 6 Highlights Quarterly Earnings Highlights Earnings per share $ 12.09 $ 12.17 $ 15.09 $ 14.53 $ 13.59 Return on average assets 0.84 % 0.88 % 1.13 % 1.16 % 1.11 % Return on average equity 10.96 11.29 14.64 14.70 14.02 Return on average tangiblecommon equity (1) 12.00 12.39 16.14 16.28 15.60 Net interest margin 2.58 2.61 2.68 2.80 3.02 Cost of deposits 0.06 0.07 0.07 0.08 0.10 Efficiency ratio (1) 66.31 66.09 64.61 63.35 64.28 Net charge-off ratio (1) (2) (0.01) 0.06 0.03 0.04 0.07 Effective tax rate 19.74 21.54 23.06 23.01 20.96 Key Financial Ratios & Metrics 4Q21 3Q21 2Q21 1Q21 4Q20 This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.Net charge-off ratio shown net of SBA-PPP loans that are guaranteed by the SBA. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.

Income taxes 154,202 126,159 28,043 22.2 Net income 547,459 491,723 55,736 11.3 Preferred dividends 18,544 14,062 4,482 31.9 Net income available to common shareholders $ 528,915 $ 477,661 $ 51,254 10.7 % 7 Highlights Increase (Decrease) $ in thousands 2021 2020 $ % Net interest income $ 1,390,334 $ 1,388,169 $ 2,165 0.2 % Noninterest income 508,002 476,750 31,252 6.6 ▪ Noninterest expense 1,233,510 1,188,685 44,825 3.8 Pre-provision net revenue (1) 664,826 676,234 (11,408) (1.7) ▪ Provision (benefit) for credit losses (36,835) 58,352 (95,187) (163.1) Income before taxes 701,661 617,882 83,779 13.6 Full Year Earnings Highlights This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.Net charge-off ratio shown net of SBA-PPP loans that are guaranteed by the SBA. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix. Key Financial Ratios & Metrics YTD21 YTD20 Earnings per share $ 53.88 $ 47.50 Return on average assets 1.00 % 1.07 % Return on average equity 12.84 12.96 Return on average tangible common equity (1) 14.12 14.51 Net interest margin 2.66 3.17 Cost of deposits 0.07 0.17 Efficiency ratio (1) 65.11 65.11 Net charge-off ratio (1) (2) 0.03 0.08 Effective tax rate 21.98 20.42 Net income available to common shareholders totaled $528.9 million or $53.88 per share in 2021 compared to $477.7 million or$47.50 per share in 2020.Pre-provision net revenue (1) decreased $11.4 million due to higher noninterest expenses only partially offset by increased noninterest income and net interest income.The net benefit from provision from credit losses was $36.8 million in 2021 compared to provision expense of $58.4 million in 2020 due to lower net charge offs and a $45.8 million reserve release compared to a $35.9 million reserve build in 2020 driven primarily by uncertainty surrounding COVID-19.

4Q21 vs. 3Q21Net interest income (TE) (1) increased $10.5 million, or by 3.0%, primarily due to higher SBA-PPP loan interest and fee income of $6.5 million and higher loan (ex. SBA-PPP) and investment balances, partially offset by lower loan (ex. SBA-PPP) and investment yields.Net interest margin (TE) (1) decreased 3 bps from 2.61% to 2.58%. The largest impact was a change in the earning asset mix driven by excess liquidity, partially offset by the impact of SBA-PPP loans.4Q21 vs. 4Q20Net interest income (TE) (1) decreased $1.4 million, or by 0.4%, primarily due to a decrease in loan yields (ex. SBA-PPP) and a decrease in interest and fee income on SBA-PPP loans, largely offset by organic loan growth (ex. SBA-PPP), higher investment and overnight balances and yields, as well as lower rates paid on interest-bearing deposits.Net interest margin (TE) (1) declined 44 bps due primarily to changes in earning asset mix driven by excess liquidity and a decline in the yield on loans, partially offset by lower rates paid on interest-bearing deposits and higher investment yields. Quarterly Net Interest Income and Margin (TE) (1) Trends 8 $359,370 $347,650 $329,407 $334,238 $336,654 $348,130 $11,720 $340,271$10,864 $347,035$12,797 $347,451$10,797 $357,950$9,820 3.02% 2.80% 2.68% 2.61% 2.58% NII (excl. PCD) PCD NII NIM 4Q20 1Q21 2Q21 3Q21 4Q21 $200,000 $300,000 $400,000 $500,000 0.00% 1.00% 2.00% 3.00% 4.00% Net Interest Income & Margin (TE) (1) (1) Taxable-equivalent (TE) net interest income and TE net interest margin presented above. Highlights

Net Interest Margin (TE) (1) Rollforward - Drivers of Margin Compression 9 2.61% (8) bps (2) bps +7 bps 2.58% 3Q21 Earning Asset Mix Investment Yield SBA-PPP 4Q21 3.02% (42) bps (8) bps (2) bps +1 bps +3 bps +4 bps 2.58% 4Q20 Earning Asset Mix Loan Yield SBA-PPP Debt Rate Investment Yield Deposit Costs 4Q21 NIM Rollforwards 3Q21 to 4Q21 4Q20 to 4Q21 (1) Taxable-equivalent (TE) net interest income and TE net interest margin presented above.

Quarterly Average Balances and Yields (TE) (1) 10 Taxable-equivalent (TE) net interest income, TE yields and TE net interest margin presented above.Total loans & leases include PCD and non-PCD loans, nonaccrual loans and loans held for sale. Average Balance and Yield (TE) Analysis ($ in thousands) (1) 4Q21 3Q21 4Q20 3Q21 Change vs 4Q20 Income/ Avg. Balance Expense (1) Yield/ Rate Avg. Balance Income/ Expense (1) Yield/ Rate Avg. Balance Income/ Expense (1) Yield/ Rate Avg. Balance Income/ Expense (1) Yield/ Rate Avg. Balance Income/ Expense (1) Yield/ Rate Non-PCD loans & leases $ 32,131,037 $ 318,961 3.90 % $ 32,322,918 $ 308,941 3.76 % $ 32,485,088 $ 333,581 4.04 % $ (191,881) $ 10,020 0.14 % $ (354,051) $ (14,620) (0.14)% PCD loans & leases 356,997 9,820 10.89 384,673 10,797 11.10 479,302 11,720 9.69 (27,676) (977) (0.21) (122,305) (1,900) 1.20 Total loans & leases (2) 32,488,033 328,781 3.98 32,707,591 319,738 3.85 32,964,390 345,300 4.12 (219,558) 9,043 0.13 (476,357) (16,519) (0.14) Investment securities 11,424,103 39,724 1.39 10,707,519 39,286 1.47 9,889,124 31,211 1.26 716,584 438 (0.08) 1,534,979 8,513 0.13 Overnight investments 10,689,674 4,050 0.15 8,956,055 3,395 0.15 4,069,309 1,019 0.10 1,733,619 655 — 6,620,365 3,031 0.05 Total interest earning assets $ 54,601,810 $ 372,555 2.69 % $ 52,371,165 $ 362,419 2.73 % $ 46,922,823 $ 377,530 3.17 % $2,230,645 $ 10,136 (0.04)% $7,678,987 $ (4,975) (0.48)% Interest bearing deposits $ 29,009,284 $ 7,832 0.11 % $ 27,768,225 $ 8,073 0.12 % $ 24,466,229 $ 11,057 0.18 % $1,241,059 $ (241) (0.01)% $4,543,055 $ (3,225) (0.07)% Customer repurchase obligations 650,123 260 0.16 672,114 358 0.21 684,311 374 0.22 (21,991) (98) (0.05) (34,188) (114) (0.06) Other borrowings 1,217,099 6,513 2.12 1,222,452 6,537 2.12 1,250,682 6,729 2.13 (5,353) (24) — (33,583) (216) (0.01) Total interest bearing liabilities $ 30,876,506 $ 14,605 0.19 % $ 29,662,791 $ 14,968 0.20 % $ 26,401,222 $ 18,160 0.27 % $1,213,715 $ (363) (0.01)% $4,475,284 $ (3,555) (0.08)% Total taxable equivalent net interest income $ 357,950 $ 347,451 $ 359,370 Net interest spread 2.50 % 2.53 % 2.90 % (0.03) (0.40) Taxable equivalent net interest income and NIM $ 357,950 2.58 % $ 347,451 2.61 % $ 359,370 3.02 % $ 10,499 (0.03)% $ (1,420) (0.44)% Taxable equivalent net interest income and NIM excluding PCD and SBA-PPP $ 321,622 2.37 % $ 316,620 2.47 % $ 305,423 2.76 % $ 5,002 (0.10)% $ 16,199 (0.39)%

4Q21 vs. 3Q21 Noninterest income decreased by $8.7 million primarily due to the following:$8.1 million decrease in other income (non-core) (1) due to lower securities gains. 4Q21 vs. 4Q20 Noninterest income decreased by $12.5 million primarily due to the following:$21.2 million decrease in other income (non-core) (1) primarily due to the following: $15.9 million decrease in fair value adjustments on marketable equity securities; $5.3 million decrease in securities gains, partially offset by: $8.6 million increase in core noninterest income driven by the following:$5.3 million increase in wealth management services driven by higher advisory and brokerage fees and trust income;$3.6 million increase in service charges on deposits;$2.6 million increase in cardholder services income, net driven by increased transaction volume; partially offset by a;$6.0 million decrease in mortgage income driven by lower gain on sale and production volume. Noninterest Income Summary ($ in millions) Highlights 11 $127 $137 $134 $123 $114 $24 $25 $27 $11 $16 $16 $16 $18 $18$3 $11 $13 $6 $6 $6 $6 $9 $9 $8 $7 $19 $20 $22 $23 $21 $23 $22 $22 $25 $26 $28 $32 $32 $32 $33 3Q21 4Q21Other income (core) Merchant services (net) Service charges on deposits 1Q21 2Q21(1)Other income (non-core)MortgageCardholder services (net) Wealth management services 4Q20 Core:$103 Core:$112 Core:$107 Core:$112 Core:$111 (1) Other income (non-core) includes fair value adjustments on marketable equity securities, realized gains (losses) on AFS securities, and gains (losses) on extinguishment of debt. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.

Noninterest Expense Summary ($ in millions) Highlights 12 $305 $296 $302 $313 $323 $182 $184 $189 $193 $193 $61 $59 $57 $59 $60 $53 $43 $47 $51 $58 $9 $10 $9 $10 $12 PersonnelOther expenses (core) Occupancy & equipment Other expenses (non-core) 4Q20 1Q21 2Q21 3Q21 4Q21 Core:$296 Core:$286 Core:$293 Core:$303 Core:$311 4Q20 1Q21 2Q21 3Q21 4Q21 Efficiency Ratio 64.28 % 63.35 % 64.61 % 66.09 % 66.31 % Efficiency Ratio(2) Trending (1) 4Q21 vs. 3Q21Noninterest expense increased by $10.4 million primarily due to the following:$6.8 million increase in other expenses (core) driven by a $1.4 million increase in foreclosure and collection expense, a $1.0 million increase in consulting costs, and a $4.4 million increase in various other expenses;$2.6 million increase in other expenses (non-core) (1) due to merger-related expenses.Efficiency ratio (2) was 66.31% in 4Q21, up from 66.09% in 3Q21. The increase was due to a 2.6% increase in core noninterest expense compared to a 2.2% decrease in core noninterest income.4Q21 vs. 4Q20Noninterest expense increased by $17.8 million primarily due to the following: $10.8 million increase in personnel expense driven by annual merit increases, increases in revenue-driven incentives, and an increase in temporary personnel costs;$4.8 million increase in other expenses (core) driven by a $3.7 million increase in third party service fees due to continued investment in digital and technology to support revenue- generating businesses and improve internal processes;$3.6 million increase in other expenses (non-core) (1) driven by merger-related expenses. Efficiency ratio (2) was 66.31% in 4Q21, up from 64.28% in 4Q20. The increase was due to a 4.8% increase in core noninterest expense compared to a 1.6% increase in core noninterest income. Other expenses (non-core) include merger-related expense and intangible amortization. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.Efficiency ratio is a Non-GAAP measure and is calculated as adjusted noninterest expense divided by net revenue (net interest income plus adjusted noninterest income). For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.

Highlights 13 Balance Sheet Highlights & Key Financial Ratios ($ in millions, except per share amounts) Change vs. 4Q21 3Q21 4Q20 3Q21 4Q20 Assets Cash and due from banks $ 338 $ 337 $ 362 $ 1 $ (24) Overnight investments 9,115 9,875 4,347 (760) 4,768 Investment securities 13,110 10,875 9,923 2,235 3,187 Assets held for sale 99 98 125 1 (26) Non-PCD loans 32,034 32,143 32,329 (109) (295) PCD loans 338 373 463 (35) (125) Loans and leases 32,372 32,516 32,792 (144) (420) Allowance for credit losses (178) (183) (224) 5 46 Net loans and leases 32,193 32,333 32,568 (139) (375) Other assets 3,453 3,384 2,633 68 820 Total assets $ 58,308 $ 56,902 $ 49,958 $ 1,406 $ 8,350 Liabilities and shareholders' equity Noninterest-bearing deposits $ 21,405 $ 21,514 $ 18,014 $ (109) $ 3,391 Interest-bearing deposits 30,001 28,551 25,418 1,450 4,583 Total deposits 51,406 50,065 43,432 1,341 7,974 Other liabilities 2,165 2,256 2,297 (91) (132) Shareholders' equity 4,737 4,581 4,229 156 508 Total liabilities and shareholders' equity $ 58,308 $ 56,902 $ 49,958 $ 1,406 $ 8,350 Key Financial Ratios: Book value per share (1) $ 447.95 $ 432.07 $ 396.21 $ 15.88 $ 51.74 Tangible book value per share (1) 410.74 394.15 357.35 16.59 53.39 Loan to deposit ratio 62.97 % 64.95 % 75.50 % (1.98)% (12.53)% ACL to total loans and leases: Non-PCD (1) (2) 0.52 0.53 0.67 (0.01) (0.15) PCD 4.38 4.94 5.18 (0.56) (0.80) Total (1) (2) 0.56 0.58 0.74 (0.02) (0.18) Noninterest bearing deposits to total deposits 41.64 42.97 41.48 (1.33) 0.16 4Q21 vs 3Q21Investment securities increased $2.2 billion due to the purchasing of US Treasuries to deploy excess liquidity created by deposit growth.Loans decreased $144 million, or by 1.8% annualized, primarily due to $593 million in SBA-PPP loan forgiveness, partially offset by $449 million in organic growth (5.7% annualized). This organic growth was driven by commercial and industrial loans as well as owner occupied commercial mortgages.Deposits increased $1.3 billion, or by 10.6% annualized, driven by organic growth.4Q21 vs 4Q20Overnight investments and investment securities increased by $4.8 billion and $3.2 billion, respectively, funded primarily by deposit growth. New investment purchases were primarily in MBS, CMBS, and US Treasuries.Loans decreased $420 million, or by 1.3%, primarily due to a $1.9 billion net decrease in SBA-PPP loans as forgiveness payments outpaced fundings, partially offset by $1.5 billion in organic growth (4.9%) driven by growth in owner occupied commercial mortgages and commercial and industrial loans.Deposits increased $8.0 billion, or by 18.4%, driven by organic growth. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix.Allowance ratio shown net of SBA-PPP loans that are guaranteed by the SBA.

$32,792 $33,181 $32,690 $32,516 $32,372 $20,152 $9,771 $9,651 $9,802 $9,914 $9,754 $373 $2,406$463 $2,770$433 $1,698$397 $1,087 $439348 $20,327 61.3% $20,793 63.6% $21,142 65.0% $21,786 67.3% Commercial Consumer PCD loans SBA-PPP 4Q20 1Q21 2Q21 3Q21 4Q21 $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Loan Composition ($ in millions) Loans and Leases 14 8.3%1.3% 29.1% 5.2%1.2% 30.0% 3.3%1.2% 30.5% 1.5%1.1% 30.1% Highlights Quarter to Date Annualized and Year over Year Growth 4Q21 vs. 3Q21: Total Loans (1.8)%, Adjusted Loans (1) 5.7%Loans decreased $144 million, or by 1.8% on an annualized basis primarily due to a $593 million net decrease in SBA- PPP loans, partially offset by $449 million in organic growth driven primarily by commercial and industrial loans as well as owner-occupied commercial mortgages. 4Q21 vs. 4Q20: Total Loans (1.3)%, Adjusted Loans (1) 4.9%Loans decreased $420 million, or by 1.3%, primarily due to a$1.9 billion net decrease in SBA-PPP loans, partially offset by$1.5 billion in organic growth driven primarily by owner- occupied commercial mortgages and commercial and industrial loans. 7.3%1.4% 29.8% 61.5% (1) Adjusted for SBA-PPP loans. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the "Loans excluding SBA-PPP" reconciliation in the Appendix.

15 Nonperforming Assets (1) Provision (Benefit) for Credit Losses $ in thousands $5,025 $2,689 $1,954 $4,781 $(437) 0.07% 0.04% 0.03% 0.06% NCO $ 4Q20 1Q21 2Q21 3Q21 4Q21NCO Ratio $(2,500) $0 $2,500 $5,000 $7,500 (0.05)% 0.00% 0.05% 0.10% 0.15% Net Charge-Offs (NCO) & Ratio (1) $ in thousands $242,373 $243,046 $231,149 $204,424 $159,634 0.80% 0.80% 0.74% 0.65% 0.50% 4Q20 1Q21 2Q21 3Q21 4Q21Nonperforming $ Nonperforming Ratio $0 $100,000 $200,000 $300,000 $400,000 2.00% 0.00% 0.50% 1.00% 1.50% Quarterly Credit Quality Trends $ in thousands $224,314 $210,651 $189,094 $183,194 $178,493 $200,327 $187,716 $170,354 $164,756 $163,691 $23,987 $22,935 $18,740 $18,438 $14,802 0.74% 0.69% 0.61% 0.58% 0.56% 4Q20 1Q21Non-PCD ACL 2Q21 3Q21PCD ACL 4Q21Allowance Ratio $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 4.00% 1.00% 2.00% 3.00% Allowance & Allowance Ratio (1) (1) Net charge-off, allowance, and nonperforming assets ratios exclude SBA-PPP loans. Nonperforming assets ratio is total nonperforming assets divided by total loans and other real estate. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix. $ in thousands $5,403 $(10,974) $(1,120) $(5,138) $(19,603)4Q20 1Q21 2Q21 3Q21Provision (Benefit) for Credit Losses 4Q21 $(30,000) $(20,000) $(10,000) $0 $10,000 $20,000 $30,000 On Day 1 of CECL adoption (January 1, 2020), ACL was 0.65% of total loans. (0.01%)

16 Nonperforming Assets (1) Provision (Benefit) for Credit Losses $ in thousands $22,594 $26,648 $30,012 $22,448 $8,986 0.10% 0.11% 0.11% 0.08% 0.03% NCO $ 2019 2020NCO Ratio 2017 2018 2021 $0 $7,000 $14,000 $21,000 $28,000 $35,000 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% Net Charge-Offs (NCO) & Ratio (1) $ in thousands $144,255 $133,852 $168,280 $242,373 $159,634 0.61% 0.52% 0.58% 0.80% 0.50% 2017 2018Nonperforming $ 2019 2020 2021Nonperforming Ratio $0 $100,000 $200,000 $300,000 2.00% 0.00% 0.50% 1.00% 1.50% Annual Credit Quality Trends $ in thousands $221,893 $223,712 $178,493 $211,867 $214,568 $217,605 $200,327 $163,691 $10,026 $9,144 $225,141 $224,314$7,536 $23,987 $14,802 0.94% 0.88% 0.78% 0.74% 0.56% Non-PCD ACL PCD ACL Allowance Ratio 2017 2018 2019 2020 2021 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 5.00% 0.00% 1.00% 2.00% 3.00% 4.00% Allowance & Allowance Ratio (1) (1) Net charge-off, allowance, and nonperforming assets ratios for 2021 and 2020 exclude SBA-PPP loans. Nonperforming assets ratio is total nonperforming assets divided by total loans and other real estate. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix. $ in thousands $25,692 $28,468 $31,441 $58,352 $(36,835) 2017 2018 2019Provision (Benefit) for Credit Losses 2020 2021 $(80,000) $(40,000) $0 $40,000 $80,000

ACL as of December 31, 2020 $ 200,327 $ 23,987 $ 224,314 Charge-offs (33,105) (2,317) (35,422) Recoveries 18,975 7,461 26,436 Net (charge-offs) recoveries $ (14,130) $ 5,144 $ (8,986) Provision for credit losses (22,506) (14,329) (36,835) ACL as of December 31, 2021 $ 163,691 $ 14,802 $ 178,493 $ in thousands Non-PCD PCD Total 17 Highlights Ratios shown net of SBA-PPP loans that are guaranteed by the SBA. This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix..Coverage ratio defined as: Allowance ratio / NCO ratio. Allowance for Credit Losses (ACL) 4Q21 3Q21 2Q21 1Q21 4Q20 YTD21 YTD20 ACL to Non-PCD loans 0.52% 0.53% 0.56% 0.63% 0.67% 0.52% 0.67% ACL to PCD loans 4.38 4.94 4.73 5.30 5.18 4.38 5.18 Allowance ratio 0.56% 0.58% 0.61% 0.69% 0.74% 0.56% 0.74% NCO ratio (0.01)% 0.06% 0.03% 0.04% 0.07% 0.03% 0.08% Coverage ratio(2) NM 9.67 20.33 17.25 10.57 18.67 9.25 Allowance Rollforward Credit Quality Ratios (1) Portfolio remains stable with strong credit quality. Net charge-off ratio is near historic lows at 3 bps for the year ended December 31, 2021.Provision credit of $36.8 million in YTD21 was driven primarily by a $45.8 million reserve release due to improved macroeconomic factors and continued strong credit performance, partially offset by net charge-offs of $9.0 million.

Quarter to Date Annualized and Year over Year Growth 4Q21 vs. 3Q21: Total Deposits 10.6% Increase of $1.3 billion, or 10.6%, on an annualized basis, driven primarily by growth in checking with interest accounts of $925 million, money market accounts of $444 million, and savings accounts of $173 million. 4Q21 vs. 4Q20: Total Deposits 18.4% Increase of $8.0 billion, or 18.4%, driven primarily by growth in noninterest-bearing deposits of $3.4 billion, checking with interest accounts of $2.1 billion, money market accounts of $2.0 billion, savings accounts of$932 million, partially offset by a decrease in time deposits of $408 million. Deposits Deposit Composition ($ in millions) Highlights 18 $43,432 $47,331 $48,411 $50,065 $51,406 $18,014 $20,515 $20,974 $21,514 $21,405 $11,377 $13,439 $2,889 $2,481 4.8% $14,826 28.9% 2Q21 3Q21Checking with interest Time deposits 4Q20 1Q21Noninterest-bearing deposits Money market & savings 4Q21 $5,000$0 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 $55,000 41.6% $2,573 5.1% $14,209 28.4% $11,769 $12,69423.5% 24.7% 43.0% $2,621 5.4% 27.8% 23.5% 43.3% $2,729 5.8% $13,267 28.0% $10,82022.9% 43.3% 6.6% $11,937 27.5% $10,59224.4% 41.5%

Highlights 19 Funding Mix 4Q21 3Q21 2Q21 1Q21 4Q20 3Q21 4Q20 Total deposits $ 51,406 96.6 % $ 50,065 96.4 % $ 48,411 96.2 % $ 47,331 96.1 % $ 43,432 95.8 % $ 1,341 $ 7,974 Securities sold under customer repurchase agreements 589 1.1 664 1.3 693 1.4 681 1.4 641 1.4 (75) (52) FHLB advances 645 1.2 646 1.2 647 1.3 649 1.3 655 1.5 (1) (10) Subordinated debt 478 1.0 497 1.0 497 1.0 497 1.0 505 1.1 (19) (27) Unsecured borrowings 72 0.1 76 0.1 80 0.1 84 0.2 88 0.2 (4) (16) Total deposits and borrowed funds $ 53,190 100.0 % $ 51,948 100.0 % $ 50,328 100.0 % $ 49,242 100.0 % $ 45,321 100.0 % $ 1,242 $ 7,869 Change vs. 0.10% 0.08% 0.07% 0.07% 0.06% 0.18% 0.14% 0.13% 0.12% 0.11% 0.27% 0.23% 0.21% 0.20% 0.19% Cost of DepositsCost of Interest-Bearing Deposits Cost of Interest-Bearing Liabilities QTD 4Q20 QTD 1Q21 QTD 2Q21 QTD 3Q21 QTD 4Q21 0.00% 0.10% 0.20% 0.30% 0.40% 4Q21 vs. 3Q21No noteworthy changes in funding mix or cost of interest-bearing liabilities. 4Q21 vs. 4Q20 No noteworthy changes in funding mix. Cost of interest-bearing liabilities decreased 8 bps driven by maturing time deposits and a reduction in money market rates. Total cost of deposits decreased 4 bps due to a decline in cost of interest-bearing deposits. Summary ($ in millions) Cost of Funds

Capital Ratios Capital levels remain strong and in excess of the capital conservation buffer.Year-to-date net income before preferred dividends of $547.5 million contributed to a 165 bps increase in risk-based capital ratios.The decline in the Tier 1 Leverage ratio was due to sustained deposit growth.Tangible book value per share (3) growth of 14.9% since December 31, 2020, supported by strong earnings. Risk-Based Capital Total Tier 1 CET1 Tier 1 Leverage December 31, 2020 13.81 % 11.63 % 10.61 % 7.86 % Net income 1.65 1.65 1.65 1.12 Change in RWA or AA (2) (0.85) (0.73) (0.68) (1.34) Common dividends (0.06) (0.06) (0.06) (0.04) Preferred dividends (0.06) (0.06) (0.06) (0.04) Other (0.14) 0.04 0.04 0.03 December 31, 2021 14.35 % 12.47 % 11.50 % 7.59 % Change since Q4 2020 0.54 % 0.84 % 0.89 % (0.27)% 20 Highlights Capital amounts and ratios for 4Q21 are preliminary.RWA: risk-weighted assets. AA: average assets. RWA impacts total, Tier 1, and CET1 risk-based capital ratios. AA impacts Tier 1 leverage ratio.This is a Non-GAAP measure. For a reconciliation of this measure to the most directly comparable GAAP measure, please see the Appendix. 10.61% 11.00% 11.14% 11.34% 11.50% 14.14% 14.30% 14.35% 13.81%11.63% 12.02% 14.15%12.13% 12.32% 12.47% CET1 Tier 1 Total 4Q20 1Q21 2Q21 3Q21 4Q21 0.00% 5.00% 10.00% 15.00% Trending Risk-Based Capital Ratios (1) Capital Ratio Rollforward (1) $396.21 $405.59 $421.39 $432.07 $447.95 $357.35 $367.07 $383.19 $394.15 $410.74 BVPS TBVPS 4Q20 1Q21 2Q21 3Q21 4Q21 $325 $350 $375 $400 $425 $450 $475 Book Value and Tangible Book Value Per Share (3)

Appendix

22 CIT Group, Inc. (in millions, unaudited) Income Statement Quarters Ended December 31, 2021 September 30, 2021 December 31, 2020 Interest income Interest and fees on loans $ 340.6 $ 341.9 $ 387.2 Other interest and dividends 21.8 17.9 28.0 Total interest income 362.4 359.8 415.2 Interest expense Interest on deposits 44.7 47.3 77.7 Interest on borrowings 55.0 55.7 61.9 Total interest expense 99.7 103.0 139.6 Net interest revenue 262.7 256.8 275.6 Provision for credit losses (70.7) (67.1) (0.5) Net interest revenue, after credit provision 333.4 323.9 276.1 Noninterest income Rental Income on operating lease equipment 204.2 186.2 198.9 Other noninterest income 147.6 124.7 161.3 Total noninterest income 351.8 310.9 360.2 Noninterest expense Depreciation on operating lease equipment 88.1 85.1 85.5 Maintenance and other operating lease expenses 52.1 50.5 54.2 Operating expenses 245.4 268.2 319.6 Goodwill impairment 0 0 140.4 Loss (gain) on debt extinguishment and deposit redemption 0.2 0 0.1 Total noninterest expenses 385.8 403.8 599.8 Income (loss) before provision (benefit) for income taxes 299.4 231.0 36.5 Provision (benefit) for income taxes 83.3 55.5 27.9 Net Income (loss) $ 216.1 $ 175.5 $ 8.6 Less: preferred stock dividends 12.2 2.8 12.2 Net Income (loss) available to common shareholders $ 203.9 $ 172.7 $ (3.6) December 31, 2021 December 31, 2020 $ 1,402.2 $ 1,667.8 81.2 131.2 1,483.4 1,799.0 203.9 475.8 225.2 257.5 429.1 733.3 1,054.3 1,065.7 (327.4) 800.3 1,381.7 265.4 773.3 810.9 662.9 540.5 1,436.2 1,351.4 340.7 327.4 209.0 212.5 1,038.8 1,309.9 0 485.1 0.3 (14.7) 1,588.8 2,320.2 1,229.1 (703.4) 306.8 (88.1) $ 922.3 $ (615.3) 30.1 31.1 $ 892.2 $ (646.4) Years Ended

23 CIT Group, Inc. (in millions, unaudited) Balance Sheet Quarters Ended December 31, 2021 September 30, 2021 December 31, 2020 Assets Total cash and interest bearing cash $ 3,016.1 $ 4,598.5 $ 4,011.7 Securities purchased under agreement to resell 0 100.0 150.0 Investment securities 6,813.7 5,775.2 6,889.0 Assets held for sale 53.3 95.8 721.2 Loans 32,839.6 33,461.0 36,144.6 Allowance for credit losses (712.3) (790.4) (1,063.8) Loans, net of allowance for credit losses 32,127.3 32,670.6 35,080.8 Operating lease equipment, net 8,024.3 7,937.5 7,836.6 Bank-owned life insurance 1,201.5 1,193.4 1,168.8 Other assets 2,003.4 2,049.0 2,248.5 Total assets $ 53,239.6 $ 54,420.0 $ 58,106.6 Liabilities Deposits $ 39,357.9 $ 40,237.3 $ 43,071.6 Credit balances of factoring clients 1,533.5 1,556.6 1,719.9 Other liabilities 1,793.3 2,203.9 1,754.9 Borrowings FHLB advances 0 0 1,100.0 Other secured and structured financings 14.2 12.0 6.1 Senior unsecured 3,741.9 3,740.3 4,236.3 Subordinated unsecured 495.4 495.3 494.9 Total borrowings 4,251.5 4,247.6 5,837.3 Total liabilities $ 46,936.2 $ 48,245.4 $ 52,383.7 $ 525.0 Equity Stockholders' equity Preferred Stock $ 525.0 $ 525.0 Common Stock 1.6 1.6 1.6 Paid-in capital 6,932.3 6,930.1 6,892.0 Retained earnings 2,180.3 2,011.0 1,428.3 Accumulated other comprehensive income (loss) (163.6) (121.2) 35.7 Treasury stock, at cost (3,172.2) (3,171.9) (3,159.7) Total common stockholders' equity 5,778.4 5,649.6 5,197.9 Total equity 6,303.4 6,174.6 5,722.9 Total liabilities and equity $ 53,239.6 $ 54,420.0 $ 58,106.6

Quarter-to-Date Year-to-Date INCOME STATEMENT DATA December 31, September 30, June 30, March 31, December 31, December 31, December 31, In thousands 2021 2021 2021 2021 2020 2021 2020 Pre-Provision Net Revenue Income before income taxesLess: Provision (credit) for credit losses $ 153,611(5,138) $ 158,132(1,120) $ 198,568(19,603) $ 191,349(10,974) $ 174,7055,403 Pre-provision net revenue $ 148,473 $ 157,012 $ 178,965 $ 180,375 $ 180,108 Other Income (non-core)Securities gains $ — $ 8,082 $ 15,830 $ 9,207 $ 5,281 Fair value adjustments on equity securities 3,066 3,350 11,654 16,011 18,934 Loss on extinguishment of debt — — — (17) — Other income (non-core) $ 3,066 $ 11,432 $ 27,484 $ 25,201 $ 24,215 Other Expenses (non-core)Merger-related expense $ 9,862 $ 7,013 $ 5,769 $ 6,819 $ 5,342 Amortization of core deposit and other intangible assets 2,593 2,857 3,082 3,328 3,540 Other expenses (non-core) $ 12,455 $ 9,870 $ 8,851 $ 10,147 $ 8,882 $ 701,661(36,835) $ 617,88258,352 $ 664,826 $ 676,234 $ 33,119 $ 60,253 34,081 29,395 (17) — $ 67,183 $ 89,648 $ 29,463 $ 17,450 11,860 15,391 $ 41,323 $ 32,841 Reconciliation of GAAP to Non-GAAP Measures 24

$ 508,002 $ 476,750 33,119 60,253 34,081 29,395 (17) — $ 440,819 $ 387,102 $ 1,233,510 $ 1,188,685 29,463 17,450 11,861 15,391 $ 1,192,186 $ 1,155,844 $ 1,192,186 $ 1,155,844 1,390,334 1,388,169 440,819 387,102 $ 1,831,153 $ 1,775,271 65.11 % 65.11 % $ 114,259 $ 122,944 $ 134,150 $ 136,649 $ 126,765 — 8,082 15,830 9,207 5,281 3,066 3,350 11,654 16,011 18,934 — — — (17) — $ 111,193 $ 111,512 $ 106,666 $ 111,448 $ 102,550 $ 323,188 $ 312,819 $ 301,578 $ 295,926 $ 305,373 9,862 7,013 5,769 6,819 5,342 2,593 2,857 3,082 3,328 3,540 $ 310,733 $ 302,949 $ 292,727 $ 285,779 $ 296,491 $ 310,733 $ 302,949 $ 292,727 $ 285,779 $ 296,491 357,402 346,886 346,393 339,652 358,716 111,193 111,512 106,666 111,448 102,550 $ 468,595 $ 458,398 $ 453,059 $ 451,100 $ 461,266 66.31 % 66.09 % 64.61 % 63.35 % 64.28 % Quarter-to-Date Year-to-Date INCOME STATEMENT DATAIn thousands December 31,2021 September 30,2021 June 30,2021 March 31,2021 December 31,2020 December 31,2021 December 31,2020 Adjusted Noninterest Income Total noninterest income Less: Securities gainsLess: Fair value adjustments on equity securities Less: Loss on extinguishment of debtAdjusted noninterest incomeAdjusted Noninterest Expense Total noninterest expense Less: Merger-related expenseLess: Amortization of core deposit and other intangibleAdjusted noninterest expenseEfficiency RatioAdjusted noninterest expense (numerator)Net interest income Adjusted noninterest income Net revenue (denominator)Efficiency ratio Reconciliation of GAAP to Non-GAAP Measures 25

$ 32,372 $ 32,792 494 2,406 $ 31,878 $ 30,386 $ 32,750 $ 31,507 1,777 1,969 $ 30,973 $ 29,538 $ 17831,878 $ 22430,386 0.56 % 0.74 % $ 16431,540 $ 20029,923 0.52 % 0.67 % $ 160 $ 242 31,878 30,386 39 50 31,917 30,436 0.50 % 0.80 % $ 930,973 $ 2229,538 0.03 % 0.08 % $ 32,372 $ 32,516 $ 32,690 $ 33,181 $ 32,792 494 1,087 1,698 2,770 2,406 $ 31,878 $ 31,429 $ 30,992 $ 30,411 $ 30,386 $ 32,388 $ 32,608 $ 33,042 $ 32,970 $ 32,854 760 1,403 2,323 2,645 2,842 $ 31,628 $ 31,205 $ 30,719 $ 30,325 $ 30,012 $ 178 $ 183 $ 189 $ 211 $ 224 31,878 31,429 30,992 30,411 30,386 0.56 % 0.58 % 0.61 % 0.69 % 0.74 % $ 164 $ 165 $ 170 $ 188 $ 200 31,540 31,056 30,595 29,978 29,923 0.52 % 0.53 % 0.56 % 0.63 % 0.67 % $ 160 $ 204 $ 231 $ 243 $ 242 31,878 31,429 30,992 30,411 30,386 39 41 44 49 50 31,917 31,470 31,036 30,460 30,436 0.50 % 0.65 % 0.74 % 0.80 % 0.80 % $ — $ 5 $ 2 $ 3 $ 5 31,628 31,205 30,719 30,325 30,012 (0.01)% 0.06 % 0.03 % 0.04 % 0.07 % Quarter-to-Date Year-to-Date BALANCE SHEET DATAIn millions December 31,2021 September 30,2021 June 30,2021 March 31,2021 December 31,2020 December 31,2021 December 31,2020 SBA-PPP Impact on Loans and Deposits Total loansLess: SBA-PPP loansLoans excluding SBA-PPPAverage loansLess: Average SBA-PPP loansAverage loans excluding SBA-PPPAllowance for Credit Loss Ratios Allowance RatioTotal allowance for credit lossesTotal loan balance excluding SBA-PPPAllowance ratio excluding SBA-PPPNon-PCD allowance for credit lossesNon-PCD loan balance excluding SBA-PPPNon-PCD allowance ratio excluding SBA-PPPNonperforming Assets RatioNonperforming assetsLoan balance excluding SBA-PPP Other real estate owned (OREO)Loan balance excluding SBA-PPP & OREO (denominator)Non-Performing assets ratio excluding SBA-PPPNet Charge-Off RatioNet charge-offsAverage loan balance excluding SBA-PPPNet charge-off ratio excluding SBA-PPP Reconciliation of GAAP to Non-GAAP Measures 26

$ 4,737(340) $ 4,229(340) 4,397 3,889 (346) (350) (19) (31) $ 4,032 $ 3,508 $ 528,915 $ 477,661 $ 4,460,722 $ 3,954,007 339,937 274,015 4,120,785 3,679,992 350,286 350,002 25,075 38,315 $ 3,745,424 $ 3,291,675 14.12 % 14.51 % $ 4,737(340) $ 4,581(340) $ 4,476(340) $ 4,322(340) $ 4,229(340) 4,397 4,241 4,136 3,982 3,889 (346) (350) (350) (350) (350) (19) (22) (25) (28) (31) $ 4,032 $ 3,869 $ 3,761 $ 3,604 $ 3,508 $ 118,646 $ 119,436 $ 148,152 $ 142,680 $ 133,448 $ 4,632,918 $ 4,536,592 $ 4,398,173 $ 4,275,204 $ 4,126,095 339,937 339,937 339,937 339,937 339,937 4,292,981 4,196,655 4,058,236 3,935,267 3,786,158 350,252 350,298 350,298 350,298 350,298 20,686 23,419 26,493 29,820 33,043 $ 3,922,044 $ 3,822,939 $ 3,681,445 $ 3,555,149 $ 3,402,817 12.00 % 12.39 % 16.14 % 16.28 % 15.60 % Quarter-to-Date Year-to-Date BALANCE SHEET DATAIn millions December 31, September 30,2021 2021 June 30,2021 March 31,2021 December 31,2020 December 31, December 31,2021 2020 Common Equity and Tangible Common EquityShareholders' equity Preferred stockCommon equityLess: GoodwillLess: Core deposit and other intangible assetsTotal tangible common equityReturn on Average Tangible Common Shareholder's Equity Net income available to common shareholdersAverage shareholders' equity Less: Average preferred stockAverage common shareholders' equity Less: Average goodwillLess: Average core deposit and other intangible assetsAverage tangible common shareholders' equityReturn on average tangible common shareholders' equity Reconciliation of GAAP to Non-GAAP Measures 27

$ 4,737,241 $ 4,581,295 $ 4,476,490 $ 4,321,400 $ 4,229,268 (339,937) (339,937) (339,937) (339,937) (339,937) $ 4,397,304 $ 4,241,358 $ 4,136,553 $ 3,981,463 $ 3,889,331 9,816,405 9,816,405 9,816,405 9,816,405 9,816,405 $ 447.95 $ 432.07 $ 421.39 $ 405.59 $ 396.21 $ 4,737,241 $ 4,581,295 $ 4,476,490 $ 4,321,400 $ 4,229,268 (339,937) (339,937) (339,937) (339,937) (339,937) (346,064) (350,298) (350,298) (350,298) (350,298) (19,288) (21,879) (24,737) (27,819) (31,147) $ 4,031,952 $ 3,869,181 $ 3,761,518 $ 3,603,346 $ 3,507,886 9,816,405 9,816,405 9,816,405 9,816,405 9,816,405 $ 410.74 $ 394.15 $ 383.19 $ 367.07 $ 357.35 PER SHARE DATAIn thousands (excl. per share data) December 31,2021 September 30,2021 June 30,2021 March 31,2021 December 31,2020 Book Value Per Share Total shareholders' equity Less: Preferred stock Total common equityDivided by: Shares outstandingBook value per shareTangible Book Value Per ShareTotal shareholders' equity Less: Preferred stock Less: GoodwillLess: CDI and other intangiblesTangible equityDivided by: Shares outstandingTangible book value per share Reconciliation of GAAP to Non-GAAP Measures 28

First Citizens BancShares (FCNCO) 8-KFirst Citizens Bancshares Reports Earnings for Fourth Quarter and Full Year 2021