First Citizens Bancshares Inc., headquartered in Raleigh, reported a 23.4 percent increase in its fourth-quarter profit, driven by increased loans and deposits from acquisitions.

The Raleigh-based financial holding company reported a net income of $52.7 million, or $4.39 per share, compared to $42.7 million, or $3.56 per share, in the fourth quarter of 2015. No analyst estimates were available for this year’s fourth quarter.

Loans grew by $440.9 million in the fourth quarter and rose $1.5 billion for the year. Deposits increased by $236.1 million in the fourth quarter, and up $1.23 billion from last year.

In the fourth quarter, First Citizens Bank acquired Virginia-based Cordia Bancorp, along with its subsidiary, Bank of Virginia.

Earlier in 2016, First Citizens Bank gained $5.8 million related to the acquisitions of First CornerStone Bank in Pennsylvania and North Milwaukee State Bank in Wisconsin.

For 2016, the company reported a profit of $225.5 million, or $18.77 per share, up from $210.4 million, or $17.52 per share, at the end of 2015.

First Citizens Bancshares has $33 billion in total assets, with offices in 21 states offering direct banking, ATMs and telephone banking.

Its shares were trading at $376.91, up $9.91, or 2.70 percent in afternoon trading.

The filing can be found here.