First Citizens BancShares Inc. reported a 25.7 percent growth in third quarter earnings due to an increase in loans, net interest income and tax benefits, according to a filing Wednesday with the Securities and Exchange Commission.

The bank holding company reported earnings of $117.3 million, or $9.80 per share, up from $93.3 million, or $7.77 per share, for the second quarter of 2018.

The Raleigh-based company’s third quarter results generated an annualized return on average assets of 1.33 percent and an annualized return on average equity of 13.41 percent.

Loans rose 5.6 percent during the third quarter to $24.89 billion. Such increase was driven by $902.9 million of organic growth and $511.6 million in non-purchased credit impaired loans acquired in the HomeBancorp Inc. acquisition on May 1, 2018.

Net interest income increased $11.1 million, or by 3.8 percent, to $307.4 million from the second quarter of 2018 due to higher loan balances and yields.

Income tax expense decreased $13.2 million to $16.2 million from the second quarter of 2018 due to the impact of the Tax Act.

First Citizens is the financial holding company for First Citizens Bank, headquartered in Raleigh, North Carolina.

First Citizens Bank provides financial services to individuals, businesses, professionals and the medical community with branch offices in 20 states and the District of Columbia.

Its stock closed Wednesday at $400.26, down $23.14, or 5.47 percent for the day, as the stock market stumbled yet again.