NASDAQ : FBNC
First Bancorp — Financial statements
Financials · Banks - Regional · United States
Last price 63.6 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.63B
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 497.68M | 462.31M | 441.18M | 418.85M | 278.19M | 219.01M |
| Interest Income on Investments | 90.65M | 94.93M | 78.06M | 70.09M | 62.93M | 36.91M |
| Total Interest Income | 588.33M | 557.24M | 519.24M | 488.94M | 341.12M | 255.92M |
| Interest Paid on Deposits | 143.74M | 152.52M | 172.09M | 114.87M | 11.35M | 7.88M |
| Interest Paid on Borrowings | 5.20M | 6.47M | 14.88M | 27.23M | 4.75M | 1.64M |
| Total Interest Expense | 148.94M | 158.99M | 186.97M | 142.10M | 16.10M | 9.52M |
| Net Interest Income | 439.39M | 398.25M | 332.27M | 346.84M | 325.01M | 246.40M |
| Mortgage Banking Activities | 2.29M | 1.82M | 2.29M | 1.61M | 2.10M | 10.97M |
| Gain (Loss) on Sale of Investments | -43.72M | -71.63M | -37.98M | -1.24M | ||
| Other Non-Interest Income | 46.17M | 44.56M | 33.34M | 36.40M | 35.33M | 44.23M |
| Total Non-Interest Income | 24.10M | -7.93M | 17.90M | 57.30M | 57.88M | 73.61M |
| Revenues Before Loan Losses | 463.49M | 390.31M | 350.17M | 404.15M | 382.89M | 320.01M |
| Provision for Loan Losses | 10.28M | 11.50M | 16.45M | 17.81M | 12.40M | 15.03M |
| Revenue | 453.20M | 378.81M | 333.72M | 386.33M | 370.49M | 304.98M |
| Salaries and Employee Benefits | 148.46M | 140.78M | 135.72M | 135.25M | 114.72M | 100.98M |
| Occupancy Expenses | 17.97M | 17.93M | 18.04M | 18.45M | 15.70M | 6.20M |
| Amortization of Goodwill & Intangibles | 4.89M | 5.67M | 6.60M | 8.00M | 3.68M | 3.53M |
| Selling, General & Administrative | 9.28M | 9.28M | 10.50M | 12.10M | 8.93M | 14.67M |
| Other Non-Interest Expense | 67.88M | 65.31M | 64.25M | 66.35M | 46.73M | 42.43M |
| Total Non-Interest Expense | 248.82M | 239.31M | 235.61M | 240.68M | 190.15M | 167.81M |
| EBT Excluding Unusual Items | 204.38M | 139.50M | 98.12M | 145.65M | 180.34M | 137.16M |
| Pretax Income | 203.93M | 139.50M | 98.12M | 131.96M | 185.22M | 120.32M |
| Income Tax Expense | 39.76M | 28.45M | 21.90M | 27.82M | 38.28M | 24.68M |
| Net Income | 164.17M | 111.05M | 76.22M | 104.13M | 146.94M | 95.64M |
| Preferred Dividends & Other Adjustments | 620.00K | 620.00K | 391.00K | 685.00K | 779.00K | 483.00K |
| Net Income to Common | 163.55M | 110.43M | 75.82M | 103.45M | 146.16M | 95.16M |
| Basic Shares Outstanding | 41.12M | 41.20M | 41.02M | 40.75M | 35.49M | 29.88M |
| Diluted Shares Outstanding | 41.42M | 41.45M | 41.33M | 41.16M | 35.67M | 30.03M |
| EPS (Basic) | 3.98 | 2.68 | 1.85 | 2.54 | 4.12 | 3.19 |
| EPS (Diluted) | 3.97 | 2.68 | 1.84 | 2.53 | 4.12 | 3.19 |
| Dividend Per Share | 0.95 | 0.91 | 0.88 | 0.88 | 0.88 | 0.80 |
| Effective Tax Rate | 19.50% | 20.40% | 22.32% | 21.09% | 20.67% | 20.51% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 451.71M | 309.60M | 507.51M | 237.85M | 270.32M | 461.16M |
| Investment Securities | 508.10M | 867.08M | 704.33M | 773.19M | 814.54M | 620.47M |
| Trading Asset Securities | 3.42M | 301.00K | 295.00K | |||
| Mortgage-Backed Securities | 1.99B | 1.87B | 1.91B | 1.95B | 2.06B | 2.54B |
| Total Investments | 2.49B | 2.74B | 2.61B | 2.72B | 2.87B | 3.16B |
| Gross Loans | 9.10B | 8.72B | 8.09B | 8.15B | 6.67B | 6.08B |
| Allowance for Loan Losses | -124.24M | -123.58M | -122.57M | -109.85M | -90.97M | -78.79M |
| Other Adjustments to Gross Loans | -178.00K | -1.40M | -1.70M | |||
| Net Loans | 8.98B | 8.60B | 7.97B | 8.04B | 6.57B | 6.00B |
| Property, Plant & Equipment | 140.05M | 152.53M | 157.26M | 168.06M | 152.92M | 156.81M |
| Goodwill | 478.75M | 478.75M | 478.75M | 478.75M | 364.26M | 364.26M |
| Other Intangible Assets | 13.63M | 17.23M | 22.90M | 29.51M | 8.67M | 12.36M |
| Loans Held for Sale | 2.68M | 7.79M | 5.94M | 2.67M | 1.28M | 80.26M |
| Accrued Interest Receivable | 38.59M | 39.21M | 36.33M | 37.35M | 29.71M | 25.90M |
| Long-Term Deferred Tax Assets | 34.48M | 105.66M | 107.65M | 117.03M | 40.05M | |
| Other Real Estate Owned & Foreclosed | 793.00K | 1.43M | 4.96M | 862.00K | 658.00K | 3.07M |
| Other Long-Term Assets | 550.56M | 282.41M | 236.67M | 266.94M | 216.62M | 201.97M |
| Total Assets | 13.15B | 12.67B | 12.15B | 12.11B | 10.63B | 10.51B |
| Interest Bearing Deposits | 7.18B | 6.96B | 6.80B | 6.30B | 5.39B | 5.42B |
| Institutional Deposits | 318.54M | 305.47M | 360.85M | 355.21M | 276.32M | 357.36M |
| Non-Interest Bearing Deposits | 3.63B | 3.49B | 3.37B | 3.38B | 3.57B | 3.35B |
| Total Deposits | 11.13B | 10.75B | 10.53B | 10.03B | 9.23B | 9.12B |
| Short-Term Borrowings | 3.44M | 302.00K | 529.35M | 216.59M | ||
| Current Portion of Long-Term Debt | 944.00K | |||||
| Current Portion of Leases | 1.62M | |||||
| Accrued Interest Payable | 4.09M | 3.75M | 4.60M | 5.70M | 2.74M | 607.00K |
| Long-Term Debt | 74.79M | -3.51M | 13.75M | 22.98M | ||
| Federal Home Loan Bank Debt, Long-Term | 753.00K | 802.00K | 851.00K | 898.00K | 1.97M | |
| Long-Term Leases | 12.62M | 14.60M | 17.80M | 19.39M | 21.19M | |
| Trust Preferred Securities | 77.32M | 77.32M | 77.32M | 69.08M | 65.41M | |
| Pension & Post-Retirement Benefits | 3.17M | 3.15M | 3.35M | 3.52M | 4.66M | |
| Other Long-Term Liabilities | 233.22M | 166.58M | 57.02M | 53.60M | 52.77M | 59.85M |
| Total Liabilities | 11.44B | 11.01B | 10.70B | 10.74B | 9.59B | 9.28B |
| Common Stock | 967.74M | 973.88M | 971.31M | 963.99M | 725.15M | 722.67M |
| Retained Earnings | 948.32M | 829.66M | 756.33M | 716.42M | 648.42M | 532.87M |
| Comprehensive Income & Other | -202.91M | -149.38M | -282.03M | -308.03M | -341.98M | -24.97M |
| Total Common Equity | 1.71B | 1.65B | 1.45B | 1.37B | 1.03B | 1.23B |
| Shareholders' Equity | 1.71B | 1.65B | 1.45B | 1.37B | 1.03B | 1.23B |
| Total Liabilities & Equity | 13.15B | 12.67B | 12.15B | 12.11B | 10.63B | 10.51B |
| Total Debt | 74.79M | 92.25M | 106.78M | 648.31M | 306.90M | 88.58M |
| Net Cash (Debt) | 376.92M | 220.76M | 401.03M | -410.16M | -36.58M | 372.58M |
| Net Cash Per Share | 9.10 | 5.33 | 9.70 | -9.96 | -1.03 | 12.41 |
| Filing Date Shares Outstanding | 41.40M | 41.48M | 41.36M | 41.13M | 40.88M | 35.65M |
| Total Common Shares Outstanding | 41.40M | 41.47M | 41.35M | 41.11M | 35.70M | 35.63M |
| Book Value Per Share | 41.38 | 39.89 | 34.96 | 33.38 | 28.89 | 34.54 |
| Tangible Book Value | 1.22B | 1.16B | 943.96M | 864.12M | 658.66M | 853.96M |
| Tangible Book Value Per Share | 29.49 | 27.93 | 22.83 | 21.02 | 18.45 | 23.97 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 111.05M | 76.22M | 104.13M | 146.94M | 95.64M | |
| Depreciation & Amortization | 14.93M | 17.88M | 19.21M | 15.33M | 13.93M | |
| Other Amortization | 450.00K | -1.37M | -1.23M | |||
| Gain (Loss) on Sale of Assets | -8.40M | -878.00K | -2.01M | -4.44M | -1.62M | |
| Gain (Loss) on Sale of Investments | 76.77M | 46.61M | 9.34M | 12.01M | 15.29M | |
| Provision for Credit Losses | 11.50M | 16.45M | 17.81M | 12.40M | 15.03M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 8.37M | 41.19M | -12.60M | 64.68M | 24.10M | |
| Accrued Interest Receivable | -2.88M | 1.02M | -1.90M | -3.81M | -773.00K | |
| Change in Other Net Operating Assets | -26.87M | 266.00K | 11.49M | 3.34M | 15.81M | |
| Other Operating Activities | 23.82M | -12.08M | -4.79M | -10.20M | -15.72M | |
| Operating Cash Flow | 203.13M | 174.78M | 131.40M | 230.65M | 142.34M | |
| Capital Expenditures | -4.25M | -2.66M | -4.42M | -5.29M | -9.40M | |
| Sale of Property, Plant and Equipment | 7.25M | 1.34M | 970.00K | 299.00K | 313.00K | |
| Cash Acquisitions | 22.61M | 208.99M | ||||
| Investment in Securities | 68.64M | 139.23M | 269.75M | -143.94M | -1.37B | |
| Divestitures | 11.31M | |||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -638.66M | 17.49M | -466.49M | -558.40M | -97.56M | |
| Other Investing Activities | 4.94M | 14.26M | -13.79M | -6.03M | -18.96M | |
| Investing Cash Flow | -562.07M | 169.67M | -191.37M | -713.36M | -1.27B | |
| Long-Term Debt Issued | 2.00M | 986.00M | 3.35B | 1.25B | ||
| Total Debt Issued | 2.00M | 986.00M | 3.35B | 1.25B | ||
| Long-Term Debt Repaid | -20.05M | -1.53B | -3.04B | -1.03B | -5.73M | |
| Total Debt Repaid | -20.05M | -1.53B | -3.04B | -1.03B | -5.73M | |
| Net Debt Issued (Repaid) | -18.05M | -539.05M | 303.01M | 219.87M | -5.73M | |
| Issuance of Common Stock | 1.49M | 4.09M | 4.52M | |||
| Repurchase of Common Stock | -2.68M | -1.69M | -743.00K | -840.00K | -4.82M | |
| Common Dividends Paid | -37.28M | -36.25M | -34.94M | -30.66M | -22.23M | |
| Total Dividends Paid | -37.28M | -36.25M | -34.94M | -30.66M | -22.23M | |
| Net Increase (Decrease) in Deposit Accounts | 217.55M | 498.10M | -244.34M | 103.49M | 1.26B | |
| Financing Cash Flow | 161.03M | -74.80M | 27.51M | 291.86M | 1.23B | |
| Net Cash Flow | -197.91M | 269.65M | -32.46M | -190.84M | 93.87M | |
| Free Cash Flow | 198.89M | 172.12M | 126.97M | 225.37M | 132.93M | |
| Free Cash Flow Margin | 52.50% | 51.58% | 32.87% | 60.83% | 43.59% | |
| Free Cash Flow Per Share | 4.80 | 4.17 | 3.08 | 6.32 | 4.43 | |
| Cash Interest Paid | 159.16M | 186.89M | 135.70M | 14.31M | 10.21M | |
| Cash Income Tax Paid | 11.02M | 33.50M | 29.73M | 39.72M | 32.51M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.72B | 2.11B | 1.82B | 1.52B | 1.53B | 1.63B |
| Last Close Price | 63.60 | 50.19 | 42.61 | 35.02 | 39.46 | 41.18 |
| PE Ratio | 16.57 | 19.07 | 23.97 | 14.70 | 10.47 | 17.10 |
| PS Ratio | 5.86 | 5.56 | 5.45 | 3.94 | 4.13 | 5.34 |
| PB Ratio | 1.54 | 1.27 | 1.26 | 1.11 | 1.48 | 1.32 |
| P/FCF Ratio | 11.69 | 10.59 | 10.56 | 11.98 | 6.79 | 12.24 |
| P/OCF Ratio | 11.42 | 10.37 | 10.40 | 11.57 | 6.63 | 11.43 |
| Debt / Equity Ratio | 0.04 | 0.06 | 0.07 | 0.47 | 0.30 | 0.07 |
| Debt / FCF Ratio | 0.46 | 0.62 | 5.11 | 1.36 | 0.67 | |
| Net Debt / Equity Ratio | -0.22 | -0.13 | -0.28 | 0.30 | 0.04 | -0.30 |
| Net Debt / FCF Ratio | -1.11 | -2.33 | 3.23 | 0.16 | -2.80 | |
| Return on Equity (ROE) | 9.90% | 7.17% | 5.41% | 8.66% | 12.99% | 9.01% |
| Return on Assets (ROA) | 1.27% | 0.90% | 0.63% | 0.92% | 1.39% | 1.07% |
| Earnings Yield | 6.04% | 5.27% | 4.19% | 6.85% | 9.60% | 5.88% |
| FCF Yield | 8.55% | 9.44% | 9.47% | 8.35% | 14.73% | 8.17% |
| Dividend Yield | 1.51% | 1.79% | 2.00% | 2.38% | 2.05% | 1.75% |
| Payout Ratio | 24.19% | 33.58% | 47.56% | 33.55% | 20.87% | 23.24% |
| Buyback Yield / Dilution | 0.04% | -0.30% | -0.39% | -15.39% | -18.81% | -3.61% |
| Total Shareholder Return | 1.55% | 1.49% | 1.61% | -13.01% | -16.75% | -1.86% |