First Bancorp Announces Cash Dividend

The Board of Directors of First Bancorp (NASDAQ - FBNC) declared a cash dividend of $0.20 per share, which is an 11.1% increase from the $0.18 paid in the same period last year.

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Rhea-AI Summary

The Board of Directors of First Bancorp (NASDAQ - FBNC) declared a cash dividend of $0.20 per share, which is an 11.1% increase from the $0.18 paid in the same period last year. The dividend is payable on January 25, 2022, to shareholders of record by December 31, 2021. First Bancorp, based in Southern Pines, North Carolina, has total assets of approximately $10.3 billion and operates 122 branches in NC and SC. Shareholders can expect a reliable income boost from this increased dividend, reflecting the company's growth and stability.

Positive

Dividend increased by 11.1% from $0.18 to $0.20 per share.
Total assets approximately $10.3 billion, indicating strong financial health.
122 branches operating in North Carolina and South Carolina, showing robust regional presence.

Negative

None.

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News Market Reaction – FBNC

The recorded move for FBNC in the trading session of this news was -2.09%.

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12/15/2021 - 11:30 AM EST

SOUTHERN PINES, N.C., Dec. 15, 2021 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ - FBNC), the parent company of First Bank, has declared a cash dividend on its common stock of $0.20 per share payable on January 25, 2022 to shareholders of record as of December 31, 2021. The $0.20 dividend rate represents an 11.1% increase over the dividend rate of $0.18 paid in the comparable period of 2020.

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of approximately $10.3 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 122 branches in North Carolina and South Carolina. First Bank also provides SBA loans to customers through its nationwide network of lenders – for more information on First Bank's SBA lending capabilities, please visit www.firstbanksba.com. First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC."

Please visit our website at www.LocalFirstBank.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-bancorp-announces-cash-dividend-301445556.html

SOURCE First Bancorp

FAQ

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What is the dividend amount declared by First Bancorp (FBNC)?

First Bancorp declared a cash dividend of $0.20 per share.

When will the dividend be paid to shareholders of FBNC?

The dividend will be payable on January 25, 2022.

What was the previous dividend amount for FBNC before the increase?

The previous dividend amount was $0.18 per share.

What is the record date for the FBNC dividend?

The record date for the dividend is December 31, 2021.

How many branches does First Bancorp operate?

First Bancorp operates 122 branches in North Carolina and South Carolina.

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First Bancorp Announces Cash Dividend