First Bancorp N C Financials

FBNC

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Financial Profile 80/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

First Bancorp N C's revenue surged 113.7% year-over-year to $70.1M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

100

First Bancorp N C carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

First Bancorp N C converts 245.5% of revenue into free cash flow ($172.1M). This strong cash generation earns a score of 100/100.

Returns

First Bancorp N C generates a 5.3% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100. This is down from 7.6% the prior year.

Piotroski F-Score Neutral

5/9

First Bancorp N C passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.29x

For every $1 of reported earnings, First Bancorp N C generates $2.29 in operating cash flow ($174.8M OCF vs $76.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

This page shows First Bancorp N C (FBNC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$70.1M

YoY+113.7%

5Y CAGR-22.5%

10Y CAGR-6.7%

First Bancorp N C generated $70.1M in revenue in fiscal year 2024. This represents an increase of 113.7% from the prior year.

EBITDA

N/A

Free Cash Flow

$172.1M

YoY+35.6%

5Y CAGR+29.3%

10Y CAGR+14.9%

First Bancorp N C generated $172.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 35.6% from the prior year.

Net Income

$76.2M

YoY-26.8%

5Y CAGR-3.7%

10Y CAGR+11.8%

First Bancorp N C reported $76.2M in net income in fiscal year 2024. This represents a decrease of 26.8% from the prior year.

EPS (Diluted)

$1.84

YoY-27.3%

5Y CAGR-9.9%

10Y CAGR+4.5%

First Bancorp N C earned $1.84 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 27.3% from the prior year.

Cash & Debt

$507.5M

YoY+113.4%

5Y CAGR+17.0%

10Y CAGR+7.2%

First Bancorp N C held $507.5M in cash against $91.9M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.88

YoY+0.0%

5Y CAGR+10.3%

10Y CAGR+10.6%

First Bancorp N C paid $0.88 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.

Shares Outstanding

41M

YoY+0.6%

5Y CAGR+6.9%

10Y CAGR+7.7%

First Bancorp N C had 41M shares outstanding in fiscal year 2024. This represents an increase of 0.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

108.7%

YoY-208.6pp

5Y CAGR+71.9pp

10Y CAGR+90.8pp

First Bancorp N C's net profit margin was 108.7% in fiscal year 2024, showing the share of revenue converted to profit. This is down 208.6 percentage points from the prior year.

Return on Equity

5.3%

YoY-2.3pp

5Y CAGR-5.5pp

10Y CAGR-1.2pp

First Bancorp N C's ROE was 5.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 2.3 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$2.7M

YoY-39.9%

5Y CAGR-5.5%

10Y CAGR-5.6%

First Bancorp N C invested $2.7M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 39.9% from the prior year.

FBNC Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$70.1M+113.7%	$32.8M+88.1%	$17.4M-31.1%	$25.3M-89.3%	$237.7M-5.0%	$250.1M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$187.0M+31.6%	$142.1M+782.5%	$16.1M+69.1%	$9.5M-51.3%	$19.6M-42.3%	$33.9M
Income Tax	$21.9M-21.3%	$27.8M-27.3%	$38.3M+55.1%	$24.7M+14.0%	$21.7M-10.6%	$24.2M
Net Income	$76.2M-26.8%	$104.1M-29.1%	$146.9M+53.6%	$95.6M+17.4%	$81.5M-11.5%	$92.0M
EPS (Diluted)	$1.84-27.3%	$2.53-38.6%	$4.12+29.2%	$3.19+13.5%	$2.81-9.4%	$3.10

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$144.2M+5.5%	$136.7M+3.1%	$132.7M+1.0%	$131.4M+2.0%	$128.8M+1.7%	$126.6M	N/A	$123.9M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$41.7M+4.1%	$40.1M+0.7%	$39.8M-17.8%	$48.4M+1.4%	$47.7M+0.8%	$47.3M	N/A	$39.1M
Income Tax	$5.6M-50.3%	$11.3M+8.5%	$10.4M+166.4%	$3.9M-52.4%	$8.2M+25.5%	$6.5M	N/A	$7.8M
Net Income	$20.4M-47.2%	$38.6M+5.9%	$36.4M+94.9%	$18.7M-34.9%	$28.7M+13.6%	$25.3M	N/A	$29.9M
EPS (Diluted)	$0.49-47.3%	$0.93+5.7%	$0.88+95.6%	$0.45-35.7%	$0.70+14.8%	$0.61	N/A	$0.73

FBNC Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$12.1B+0.3%	$12.1B+14.0%	$10.6B+1.1%	$10.5B+44.2%	$7.3B+18.7%	$6.1B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$507.5M+113.4%	$237.9M-12.0%	$270.3M-41.4%	$461.2M+25.6%	$367.3M+58.8%	$231.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$478.8M0.0%	$478.8M+31.4%	$364.3M0.0%	$364.3M+52.2%	$239.3M+2.1%	$234.4M
Total Liabilities	$10.7B-0.4%	$10.7B+12.0%	$9.6B+3.4%	$9.3B+45.1%	$6.4B+20.9%	$5.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$91.9M-85.4%	$630.2M+119.2%	$287.5M+326.7%	$67.4M+9.0%	$61.8M-79.4%	$300.7M
Total Equity	$1.4B+5.3%	$1.4B+33.0%	$1.0B-16.2%	$1.2B+37.7%	$893.4M+4.8%	$852.4M
Retained Earnings	$756.3M+5.6%	$716.4M+10.5%	$648.4M+21.7%	$532.9M+11.4%	$478.5M+14.5%	$417.8M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$12.8B+1.1%	$12.6B+1.4%	$12.4B+2.4%	$12.1B+0.7%	$12.1B-0.3%	$12.1B-0.2%	$12.1B+1.1%	$12.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$598.0M-15.9%	$711.3M-7.9%	$772.4M+52.2%	$507.5M-16.6%	$608.4M+71.9%	$353.8M+48.8%	$237.9M-13.1%	$273.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$478.8M0.0%	$478.8M0.0%	$478.8M0.0%	$478.8M0.0%	$478.8M0.0%	$478.8M0.0%	$478.8M0.0%	$478.8M
Total Liabilities	$11.1B+0.9%	$11.1B+1.1%	$10.9B+2.1%	$10.7B+0.4%	$10.7B-0.6%	$10.7B-0.3%	$10.7B+0.2%	$10.7B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$92.4M+0.2%	$92.2M+0.2%	$92.1M+0.2%	$91.9M+0.4%	$91.5M-72.5%	$332.3M-47.3%	$630.2M+56.8%	$401.8M
Total Equity	$1.6B+3.0%	$1.6B+3.2%	$1.5B+4.3%	$1.4B+2.9%	$1.4B+2.1%	$1.4B+0.3%	$1.4B+9.1%	$1.3B
Retained Earnings	$823.5M+1.3%	$812.7M+3.7%	$783.6M+3.6%	$756.3M+0.5%	$752.3M+2.7%	$732.6M+2.3%	$716.4M+3.0%	$695.8M

FBNC Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$174.8M+33.0%	$131.4M-43.0%	$230.7M+62.1%	$142.3M+144.0%	$58.3M+13.8%	$51.2M
Capital Expenditures	$2.7M-39.9%	$4.4M-16.4%	$5.3M-43.8%	$9.4M-24.0%	$12.4M+249.8%	$3.5M
Free Cash Flow	$172.1M+35.6%	$127.0M-43.7%	$225.4M+69.5%	$132.9M+189.2%	$46.0M-3.6%	$47.7M
Investing Cash Flow	$169.7M+188.7%	-$191.4M+73.2%	-$713.4M+44.0%	-$1.3B-32.5%	-$961.5M-126.4%	-$424.7M
Financing Cash Flow	-$74.8M-371.9%	$27.5M-90.6%	$291.9M-76.2%	$1.2B+17.9%	$1.0B+632.6%	$141.9M
Dividends Paid	$36.2M+3.7%	$34.9M+14.0%	$30.7M+37.9%	$22.2M+6.2%	$20.9M+53.2%	$13.7M
Share Buybacks	N/A	$0	$0-100.0%	$4.0M-87.3%	$31.9M+218.7%	$10.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$49.7M+8.7%	$45.7M-13.1%	$52.6M-23.5%	$68.7M-21.7%	$87.7M+536.6%	-$20.1M-152.6%	$38.2M+35.9%	$28.1M
Capital Expenditures	$1.5M+6.9%	$1.4M+463.0%	$243K-51.2%	$498K+522.5%	$80K-95.1%	$1.6M+34.5%	$1.2M-9.4%	$1.3M
Free Cash Flow	$48.2M+8.7%	$44.3M-15.3%	$52.4M-23.3%	$68.2M-22.1%	$87.6M+503.3%	-$21.7M-158.8%	$36.9M+38.2%	$26.7M
Investing Cash Flow	-$203.8M-10.8%	-$183.9M-2243.0%	$8.6M+102.7%	-$321.6M-238.5%	$232.2M+35.7%	$171.1M+292.5%	-$88.9M+3.7%	-$92.3M
Financing Cash Flow	$40.8M-47.1%	$77.1M-62.2%	$203.8M+1179.8%	$15.9M+124.3%	-$65.4M-86.7%	-$35.0M-334.1%	$15.0M+165.4%	-$22.9M
Dividends Paid	$9.5M+4.8%	$9.1M0.0%	$9.1M+0.1%	$9.1M+0.5%	$9.1M+0.1%	$9.0M0.0%	$9.0M0.0%	$9.0M
Share Buybacks	$0	$0-100.0%	$992K	$0	$0	$0	N/A	N/A

FBNC Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	108.7%-208.6pp	317.3%-524.8pp	842.1%+464.5pp	377.7%+343.4pp	34.3%-2.5pp	36.8%
Return on Equity	5.3%-2.3pp	7.6%-6.7pp	14.2%+6.5pp	7.8%-1.3pp	9.1%-1.7pp	10.8%
Return on Assets	0.6%-0.2pp	0.9%-0.5pp	1.4%+0.5pp	0.9%-0.2pp	1.1%-0.4pp	1.5%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.06-0.4	0.46+0.2	0.28+0.2	0.05-0.0	0.07-0.3	0.35
FCF Margin	245.5%-141.5pp	386.9%-904.7pp	1291.6%+766.7pp	524.9%+505.6pp	19.3%+0.3pp	19.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	14.1%-14.1pp	28.2%+0.8pp	27.4%+13.2pp	14.2%-8.1pp	22.3%+2.3pp	20.0%	N/A	24.1%
Return on Equity	1.3%-1.2pp	2.5%+0.1pp	2.4%+1.1pp	1.3%-0.8pp	2.0%+0.2pp	1.8%	N/A	2.4%
Return on Assets	0.2%-0.1pp	0.3%+0.0pp	0.3%+0.1pp	0.1%-0.1pp	0.2%+0.0pp	0.2%	N/A	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.060.0	0.060.0	0.060.0	0.060.0	0.07-0.2	0.24-0.2	0.46+0.1	0.32
FCF Margin	33.4%+1.0pp	32.4%-7.0pp	39.5%+10.5pp	28.9%-39.1pp	68.0%+85.2pp	-17.2%	N/A	21.6%

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Frequently Asked Questions

What is First Bancorp N C's annual revenue?

First Bancorp N C (FBNC) reported $70.1M in total revenue for fiscal year 2024. This represents a 113.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is First Bancorp N C's revenue growing?

First Bancorp N C (FBNC) revenue grew by 113.7% year-over-year, from $32.8M to $70.1M in fiscal year 2024.

Is First Bancorp N C profitable?

Yes, First Bancorp N C (FBNC) reported a net income of $76.2M in fiscal year 2024, with a net profit margin of 108.7%.

What is First Bancorp N C's earnings per share (EPS)?

First Bancorp N C (FBNC) reported diluted earnings per share of $1.84 for fiscal year 2024. This represents a -27.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does First Bancorp N C have?

As of fiscal year 2024, First Bancorp N C (FBNC) had $507.5M in cash and equivalents against $91.9M in long-term debt.

What is First Bancorp N C's net profit margin?

First Bancorp N C (FBNC) had a net profit margin of 108.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does First Bancorp N C pay dividends?

Yes, First Bancorp N C (FBNC) paid $0.88 per share in dividends during fiscal year 2024.

What is First Bancorp N C's return on equity (ROE)?

First Bancorp N C (FBNC) has a return on equity of 5.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is First Bancorp N C's free cash flow?

First Bancorp N C (FBNC) generated $172.1M in free cash flow during fiscal year 2024. This represents a 35.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is First Bancorp N C's operating cash flow?

First Bancorp N C (FBNC) generated $174.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are First Bancorp N C's total assets?

First Bancorp N C (FBNC) had $12.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are First Bancorp N C's capital expenditures?

First Bancorp N C (FBNC) invested $2.7M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does First Bancorp N C have outstanding?

First Bancorp N C (FBNC) had 41M shares outstanding as of fiscal year 2024.

What is First Bancorp N C's debt-to-equity ratio?

First Bancorp N C (FBNC) had a debt-to-equity ratio of 0.06 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is First Bancorp N C's return on assets (ROA)?

First Bancorp N C (FBNC) had a return on assets of 0.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is First Bancorp N C's Piotroski F-Score?

First Bancorp N C (FBNC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are First Bancorp N C's earnings high quality?

First Bancorp N C (FBNC) has an earnings quality ratio of 2.29x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is First Bancorp N C?

First Bancorp N C (FBNC) scores 80 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.