First Bancorp Announces Cash Dividend

Rhea-AI Summary

First Bancorp (NASDAQ: FBNC) has announced an increase in its quarterly cash dividend to $0.23 per share, up from $0.22 in the previous quarter. The dividend will be paid on July 25, 2025, to shareholders of record as of June 30, 2025. CEO Richard Moore attributed the dividend increase to the company's strong first quarter performance, highlighting improved net income, EPS growth, solid credit quality, and robust capital and liquidity positions. First Bancorp, headquartered in Southern Pines, North Carolina, is a bank holding company with $12.4 billion in total assets, operating 113 branches across North and South Carolina through its subsidiary First Bank, which has been providing tailored banking services since 1935.

Positive

• Increased quarterly dividend from $0.22 to $0.23 per share
• Strong Q1 performance with growth in net income and EPS
• Solid credit quality metrics reported
• Strong capital and liquidity positions maintained
• Substantial presence with 113 branches across North and South Carolina
• Significant asset base of $12.4 billion

Negative

• None.

SOUTHERN PINES, N.C., June 13, 2025 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ: FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.23 per share payable on July 25, 2025 to shareholders of record as of June 30, 2025. This represents an increase from $0.22 per share paid in the prior quarter.

Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our Company had a strong first quarter performance with continued momentum in net income and EPS as well as solid credit quality and adequate capital and liquidity positions.  In conjunction with our commitment to return capital to our shareholders, we are pleased to increase the level of cash dividends."

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.4 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 113 branches in North Carolina and South Carolina.  Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business.  First Bank also provides SBA loans to customers through its nationwide network of lenders.

Please visit our website at www.LocalFirstBank.com for more information.

First Bancorp's common stock is traded on The NASDAQ Global Select Market under the symbol "FBNC." Member FDIC, Equal Housing Lender.

 

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SOURCE First Bancorp

FAQ

What is First Bancorp's new dividend amount and when is it payable?

First Bancorp's new dividend is $0.23 per share, payable on July 25, 2025, to shareholders of record as of June 30, 2025.

How much did FBNC increase its dividend compared to the previous quarter?

FBNC increased its dividend by $0.01, from $0.22 to $0.23 per share, representing a 4.5% increase from the previous quarter.

What is First Bancorp's current total asset value?

First Bancorp has total assets of $12.4 billion.

How many branches does First Bank operate and in which states?

First Bank operates 113 branches across North Carolina and South Carolina.

What factors contributed to FBNC's dividend increase?

The dividend increase was supported by strong first quarter performance, including improved net income, EPS growth, solid credit quality, and strong capital and liquidity positions.