FIRST BANCORP /NC/ FBNC

Financials SIC 6022 - State Commercial Banks NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Commercial Banking derived Nasdaq

The Company is the fourth largest commercial bank holding company headquartered in North Carolina. At December 31, 2025, the Company had total consolidated assets of $12.7 billion, total loans of $8.7 billion, total deposits of $10.7 billion, and shareholders' equity of $1.7 billion. Our principal activity is the ownership and operation of the Bank, a state-chartered bank with its headquarters in Southern Pines, North Carolina, through which we engage in a full range of banking activities. Our principal executive offices are located at 205 SE Broad St., Southern Pines, North Carolina 28387, and our telephone number is (910) 246-2500.

The Company was incorporated in North Carolina on December 8, 1983 for the purpose of acquiring 100% of the outstanding common stock of the Bank through a stock-for-stock exchange. The Bank began banking operations in 1935 as the Bank of Montgomery, named for the county in which it originally operated. In 1985, its name was changed to First Bank and in September 2013, the Company and the Bank moved their headquarters and main offices to Southern Pines, North Carolina.

Last close 64.44 2026-10-23
Market cap $2.67B 2026-06-30 share count
52-week range 47.83 - 66.78

Valuation FY2025 figures against the last close

P/S39.4x
P/E24.0x
P/FCF13.4x
EV/EBITDA—
Dividend yield1.4%
Diluted EPS2.68

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $67.6M$70.1M$32.8M$17.4M$25.3M$237.7M$250.1M$231.2M$177.4M$131.0M
Interest expense $398.2M$332.3M$346.8M$325.0M$9.5M$19.6M$33.9M$23.8M$12.7M$7.6M
Pre-tax income $139.5M$98.1M$132.0M$185.2M$120.3M$103.1M$116.3M$113.5M$67.7M$42.1M
Income tax $28.5M$21.9M$27.8M$38.3M$24.7M$21.7M$24.2M$24.2M$21.8M$14.6M
Net income $111.0M$76.2M$104.1M$146.9M$95.6M$81.5M$92.0M$89.3M$46.0M$27.5M
EPS, basic 2.681.852.544.123.192.813.103.021.821.37
EPS, diluted 2.681.842.534.123.192.813.103.011.821.33
Shares, diluted (wtd. avg.) 41.5M41.3M41.2M35.7M30.0M29.0M29.7M29.7M25.3M20.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $309.6M$507.5M$237.9M$270.3M$461.2M$367.3M$231.3M$462.9M$489.5M$306.0M
Property, plant and equipment $139.1M$143.5M$151.0M$134.2M$136.1M$120.5M$114.9M$119.0M$116.2M$75.4M
Goodwill $478.8M$478.8M$478.8M$364.3M$364.3M$239.3M$234.4M$234.4M$233.1M$75.0M
Other intangibles $17.2M$22.9M$29.5M$12.7M$17.8M$15.4M$17.2M$21.1M$24.4M$4.4M
Total assets $12.67B$12.15B$12.11B$10.63B$10.51B$7.29B$6.14B$5.86B$5.55B$3.61B
Short-term debt $0$0$529.0M$220.9M$0$0$253.0M$253.0M——
Long-term debt $74.6M$91.9M$630.2M$287.5M$67.4M$61.8M$300.7M$406.6M$410.7M—
Total liabilities $11.01B$10.70B$10.74B$9.59B$9.28B$6.40B$5.29B$5.10B$4.85B$3.25B
Retained earnings $829.7M$756.3M$716.4M$648.4M$532.9M$478.5M$417.8M$341.7M$264.3M$225.9M
Total equity $1.65B$1.45B$1.37B$1.03B$1.23B$893.4M$852.4M$764.2M$693.0M$368.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $203.1M$174.8M$131.4M$230.7M$142.3M$58.3M$51.2M$46.4M$26.8M$41.3M
Depreciation and amortisation $6.8M$7.8M$7.8M$6.9M$6.2M$5.8M$5.8M$6.1M$5.5M$4.6M
Stock-based compensation $3.8M$4.9M$5.1M$3.0M$2.3M$2.5M$2.3M$1.6M$1.1M$714.0K
Capital expenditure $4.2M$2.7M$4.4M$5.3M$9.4M$12.4M$3.5M$10.7M$4.7M$8.7M
Investing cash flow -$562.1M$169.7M-$191.4M-$713.4M-$1.27B-$961.5M-$424.7M-$313.3M-$128.5M-$240.1M
Financing cash flow $161.0M-$74.8M$27.5M$291.9M$1.23B$1.04B$141.9M$240.3M$285.2M$237.6M
Dividends paid $37.3M$36.2M$34.9M$30.7M$22.2M$20.9M$13.7M$11.3M$7.6M$6.4M
Buybacks $991.0K$0$0$0$4.0M$31.9M$10.0M$0$0—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000811589-26-000051.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M Revenue, FY2016: 131M Net income, FY2016: 27.5M Revenue, FY2017: 177.4M Net income, FY2017: 46M Revenue, FY2018: 231.2M Net income, FY2018: 89.3M Revenue, FY2019: 250.1M Net income, FY2019: 92M Revenue, FY2020: 237.7M Net income, FY2020: 81.5M Revenue, FY2021: 25.3M Net income, FY2021: 95.6M Revenue, FY2022: 17.4M Net income, FY2022: 146.9M Revenue, FY2023: 32.8M Net income, FY2023: 104.1M Revenue, FY2024: 70.1M Net income, FY2024: 76.2M Revenue, FY2025: 67.6M Net income, FY2025: 111M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $131.0M $177.4M $231.2M $250.1M $237.7M $25.3M $17.4M $32.8M $70.1M $67.6M
Gross profit — — — — — — — — — —
Net income $27.5M $46.0M $89.3M $92.0M $81.5M $95.6M $146.9M $104.1M $76.2M $111.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Other event Item 8.01
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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