First Bancorp Announces Cash Dividend

Rhea-AI Summary

First Bancorp (NASDAQ: FBNC), the parent company of First Bank, has declared a cash dividend of $0.22 per share on its common stock, payable on October 25, 2024 to shareholders of record as of September 30, 2024. CEO Richard Moore cited the company's strong performance in Q2 2024, highlighting improved liquidity, solid capital growth, and continued strong credit quality. First Bancorp, headquartered in Southern Pines, North Carolina, has total assets of $12.1 billion and operates 113 branches across North and South Carolina. The company provides tailored banking services, including SBA loans, through its nationwide network of lenders.

Positive

• Declared cash dividend of $0.22 per share
• Strong Q2 2024 performance with improved liquidity
• Solid capital growth reported
• Continued strong credit quality
• Total assets of $12.1 billion
• Operates 113 branches across North and South Carolina

Negative

• None.

News Market Reaction – FBNC

+2.86%

1 alert

+2.86% News Effect

On the day this news was published, FBNC gained 2.86%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SOUTHERN PINES, N.C., Sept. 13, 2024 /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 $0.22 per share payable on October 25, 2024 to shareholders of record as of September 30, 2024. 

Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our company had a strong performance during the second quarter of 2024 with improved liquidity, solid capital growth and continued strong credit quality. We are pleased that our financial performance and capital position allow us to continue distributing the level of cash dividend providing our shareholders with a valuable return on their investments."

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.1 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.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/first-bancorp-announces-cash-dividend-302244192.html

SOURCE First Bancorp

FAQ

What is the amount of First Bancorp's (FBNC) latest cash dividend?

First Bancorp (FBNC) has declared a cash dividend of $0.22 per share on its common stock.

When will First Bancorp (FBNC) pay its latest dividend?

First Bancorp (FBNC) will pay its latest dividend on October 25, 2024 to shareholders of record as of September 30, 2024.

How did First Bancorp (FBNC) perform in Q2 2024?

First Bancorp (FBNC) reported strong performance in Q2 2024, with improved liquidity, solid capital growth, and continued strong credit quality.

What are First Bancorp's (FBNC) total assets as of September 2024?

As of September 2024, First Bancorp (FBNC) reported total assets of $12.1 billion.

How many branches does First Bancorp (FBNC) operate?

First Bancorp (FBNC) operates 113 branches across North Carolina and South Carolina.