(Updates with buyback details in the fifth paragraph.)

First Citizens BancShares (FCNCA) reported Q3 adjusted earnings Friday of $55.37 per diluted share, up from $44.62 a year earlier.

Analysts polled by FactSet expected $45.89.

Revenue for the quarter ended Sept. 30 was $2.43 billion, flat compared with a year earlier.

Analysts expected $2.26 billion.

The company's board authorized a program allowing it to repurchase up to $1.2 billion of its class A common shares in 2027, it said in a regulatory filing.