Welcome to our dedicated page for First Bancorp N C news (Ticker: FBNC), a resource for investors and traders seeking the latest updates and insights on First Bancorp N C stock.
First Bancorp (NASDAQ: FBNC) is the parent company of First Bank, a state-chartered community-focused bank headquartered in Southern Pines, North Carolina. Through First Bank, the company operates 113 branches across North Carolina and South Carolina and engages in commercial and consumer banking, mortgage lending, SBA lending, accounts receivable financing, and investment advisory services. This news page brings together company-reported developments and market-facing announcements related to FBNC.
Investors and followers of First Bancorp can use this page to review earnings releases, dividend declarations, and governance updates that the company discloses through news and SEC filings. Recent communications have covered quarterly financial results, including net interest income, net interest margin, loan growth, deposit trends, noninterest income, expense management, and asset quality metrics. The company also issues news releases when its board of directors declares cash dividends on its common stock.
Beyond financial performance, First Bancorp and First Bank share updates on leadership appointments and risk management roles, such as changes in senior executives and board membership. These items provide context on how the organization structures its leadership and oversight as it grows and navigates the regulatory environment for commercial banking.
First Bank also highlights community and sponsorship initiatives in its news, including partnerships with organizations like the Carolina Hurricanes Foundation and sponsorship of cultural events in the Carolinas. These stories illustrate the bank’s stated focus on community involvement and support for regional economic and social initiatives.
By reviewing the news items linked on this page, users can follow how First Bancorp communicates about its financial results, capital and liquidity position, credit quality, dividends, leadership changes, and community engagement over time.
First Bank (FBNC) has donated $26,600 to the Carolina Hurricanes Foundation following their 2024-2025 season partnership. The donation was generated through the bank's pledge to contribute $100 for each goal scored by the Hurricanes during the season. The check presentation took place during a playoff game at Lenovo Center.
The partnership included fan engagement activities like First Bank tee shirt tosses at home games. The Carolina Hurricanes Foundation focuses on supporting youth hockey programs, educational opportunities, and assisting families in need across North Carolina. The initiative, called 'Power of Good Goals,' successfully combined sports engagement with community support.
First Bancorp (FBNC) reported strong Q1 2025 financial results with net income of $36.4 million, or $0.88 diluted earnings per share, compared to $3.6 million in Q4 2024 and $25.3 million in Q1 2024. Net interest income increased to $92.9 million, with tax-equivalent net interest margin expanding to 3.27%.
Key highlights include reduced noninterest expenses to $57.9 million, strong credit quality with nonperforming assets ratio of 0.27%, and maintained excess capital with common equity tier 1 ratio at 14.53%. The company saw customer deposit growth of $214.1 million and loan growth of $8.4 million during Q1 2025.
The results include a $2.0 million reduction in allowance for credit losses related to Hurricane Helene impacts. The company maintains strong liquidity with a total liquidity ratio of 36.4% and continues to focus on expense management, reducing full-time equivalent employees from 1,371 to 1,353.
First Bancorp (NASDAQ: FBNC) has declared a quarterly cash dividend of $0.22 per share, payable on April 25, 2025, to shareholders of record as of March 31, 2025. The announcement follows a strong fourth quarter performance with improvements in adjusted net income and EPS, while maintaining robust capital, liquidity, and credit quality metrics.
The company, headquartered in Southern Pines, North Carolina, operates as a bank holding company with total assets of $12.1 billion. Its main subsidiary, First Bank, manages 113 branches across North Carolina and South Carolina, offering tailored banking solutions, local expertise, and technology for home and business management since 1935. The bank also provides SBA loans through its nationwide lending network.
First Bancorp (NASDAQ: FBNC) has announced the promotion of G. Adam Currie from President to Chief Executive Officer of First Bank. Currie will succeed Michael G. Mayer, who will remain as President of First Bancorp until early 2026. This transition is part of a long-planned succession strategy.
Currie, who has served as President since November 2023, previously held positions as Chief Banking Officer and Regional President. His experience includes roles at PNC Capital Markets and RBC Bank. The company, headquartered in Southern Pines, North Carolina, operates 113 branches across North and South Carolina, with total assets of approximately $12.2 billion.
As part of the transition, First Bancorp has entered into an Amended and Restated Employment Agreement with Mayer and a new Employment Agreement with Christian Wilson as Chief Operating Officer, both effective February 7, 2025.
First Bancorp (NASDAQ:FBNC) reported Q4 2024 net income of $3.6 million ($0.08 EPS), down from $18.7 million ($0.45 EPS) in Q3 2024 and $29.7 million ($0.72 EPS) in Q4 2023. The results include impacts from Hurricane Helene ($13.4 million) and a strategic securities loss-earnback transaction ($36.8 million).
Key Q4 2024 highlights include: tax-equivalent net interest margin increased to 3.07%, average deposits grew to $10.6 billion, and loan growth accelerated with total loans reaching $8.1 billion. The company executed a securities portfolio restructuring, selling $280 million of securities yielding 1.56% and investing $495 million at 5.27%.
Adjusted net income for Q4 2024 was $31.7 million ($0.76 adjusted EPS), compared to $29.0 million ($0.70 adjusted EPS) in Q3 2024. Credit quality remained strong with nonperforming assets at 0.39% of total assets.
First Bank has announced a new partnership with the Carolina Hurricanes Foundation, launching 'The Power of Good Goals' initiative. Under this program, First Bank will donate $100 to the Foundation for every goal scored by the Hurricanes, supporting youth hockey programs, education, and health initiatives across the Carolinas.
The partnership includes exclusive branding and visibility for First Bank during Hurricanes' home games, special events, televised games, and community outreach programs. This collaboration extends First Bank's Power of Good corporate citizenship program, which in 2024 encompassed grants to local nonprofits, the First Bank Book Club, financial education programs, affordable housing initiatives, and employee volunteer programs.
First Bank (NASDAQ: FBNC) has completed its 2nd annual companywide food drive, collecting 21,750 pounds of food distributed to over 90 organizations across the Carolinas through 110+ locations. The initiative, honoring late employee Sharon Shaw Adams, demonstrates the bank's community commitment.
The bank has awarded $319,229 in Power of Good Grants to local nonprofits and schools in 2024, with total philanthropic giving exceeding $640,000. In Q4 alone, 40 nonprofits received grants totaling $90,000. First Bank, with approximately $12.1 billion in total assets, operates 113 branches across North and South Carolina, including a nationwide SBA platform.
First Bancorp (NASDAQ: FBNC) has declared a quarterly cash dividend of $0.22 per share, payable on January 25, 2025, to shareholders of record as of December 31, 2024. The company, with total assets of $12.2 billion, operates First Bank across 113 branches in North and South Carolina. CEO Richard Moore highlighted the company's strong capital position enabling profitable operations and shareholder returns through dividends. First Bank, established in 1935, provides community banking services including SBA loans through its nationwide network.