TPL vs FCNCA Comparison

Texas Pacific Land Corp is mainly engaged in the sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. The group operates its business in two reportable segments: Land and Resource Management and Water Service and Operations. The Land and Resource Management segment, which generates maximum revenue, focuses on managing its several surface acres of land and its oil and gas royalty interests, principally concentrated in the Permian Basin. The revenue streams of this segment consist of royalties from oil and gas, revenues from easements and commercial leases, and land and material sales. The Water Services and Operations segment encompasses the business of providing a full-service water offering to operators in the Permian Basin.

First Citizens is a US regional bank with total assets of around $237 billion as of June 30, 2026. Headquartered in Raleigh, North Carolina, First Citizens' largest markets are North Carolina, South Carolina, and California. The bank has a track record of acquiring troubled banks from the FDIC, such as Silicon Valley Bridge Bank in 2023, which doubled its asset base. First Citizens offers products and services across retail, commercial, wealth management, and railcar leasing. In 2025, First Citizens derived over 95% of its earnings from banking and less than 5% from railcar leasing.