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 (FBNC) delivers community-focused banking services across the Carolinas and Virginia through its subsidiary First Bank. This news hub provides investors and stakeholders with essential updates on the company’s financial operations, strategic initiatives, and regulatory developments.
Access timely FBNC press releases covering quarterly earnings, leadership appointments, and product launches alongside analysis of credit quality trends and net interest margin performance. Our curated collection serves as a centralized resource for tracking the bank’s SBA lending growth, mortgage portfolio updates, and community reinvestment activities.
Key content includes regulatory filings, merger/acquisition announcements, and dividend declarations. Bookmark this page for streamlined monitoring of First Bancorp’s financial health indicators and market positioning within the competitive Southeast banking landscape.
First Bancorp (FBNC) reported a net income of $15.2 million, or $0.37 per diluted share, for Q1 2023, down from $38.4 million in Q4 2022 and $34.0 million in Q1 2022. The decline was attributed to $12.2 million in merger expenses related to the acquisition of GrandSouth Bancorporation, which contributed $1.02 billion in loans and $1.05 billion in deposits. Despite these charges, First Bancorp experienced organic loan growth of $113.7 million, and total deposits grew $95.2 million. The company maintained a strong liquidity ratio of 26.2% and an impressive capital ratio of 14.33%. Nonperforming assets decreased to 0.25% of total assets, reflecting ongoing credit quality improvements.
On March 15, 2023, First Bancorp (NASDAQ: FBNC) declared a cash dividend of $0.22 per share, payable on April 25, 2023, to shareholders of record by March 31, 2023. CEO Richard Moore emphasized the company’s strong capital position, allowing continuation of this dividend to enhance shareholder value. First Bancorp, headquartered in Southern Pines, NC, has total assets of approximately $12 billion and operates 118 branches across North Carolina and South Carolina. The company is involved in SBA lending through its nationwide network.
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