First Bancorp Announces Cash Dividend Increase

The Board of Directors of First Bancorp (NASDAQ - FBNC) has declared a cash dividend of $0.20 per share, an increase of 11.1% from the previous rate of $0.18.

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Rhea-AI Summary

The Board of Directors of First Bancorp (NASDAQ - FBNC) has declared a cash dividend of $0.20 per share, an increase of 11.1% from the previous rate of $0.18. This dividend will be payable on April 25, 2021, to shareholders of record as of March 31, 2021. First Bancorp, based in Southern Pines, North Carolina, has total assets of approximately $7.3 billion and operates 101 branches in North and South Carolina.

Positive

Dividend increase of 11.1% to $0.20 per share enhances shareholder value.
Strong asset base of approximately $7.3 billion indicates financial stability.

Negative

None.

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News Market Reaction – FBNC

The recorded move for FBNC in the trading session of this news was -3.37%.

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03/15/2021 - 09:00 AM EDT

SOUTHERN PINES, N.C., March 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 April 25, 2021 to shareholders of record as of March 31, 2021. The $0.20 dividend rate represents an 11.1% increase over the previous dividend rate of $0.18.

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of approximately $7.3 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 101 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:http://www.prnewswire.com/news-releases/first-bancorp-announces-cash-dividend-increase-301247268.html

SOURCE First Bancorp

FAQ

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

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

When will the dividend for FBNC be paid?

The dividend will be paid on April 25, 2021.

What is the record date for the FBNC dividend?

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

How much was the increase in FBNC's dividend?

The dividend increased by 11.1% from $0.18 to $0.20 per share.

What are the total assets of First Bancorp (FBNC)?

First Bancorp has total assets of approximately $7.3 billion.

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First Bancorp Announces Cash Dividend Increase