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.
Dexter V. Perry has joined the boards of First Bancorp and First Bank, North Carolina's largest community bank, as of July 9, 2021. With a background as a Certified Financial Planner and extensive banking experience, Perry aims to leverage his skills in the finance industry. First Bank was recently named the Best-In-State Bank in North Carolina by Forbes and is set to acquire Select Bank, potentially growing its total assets to over $9 billion. First Bancorp's common stock trades under the symbol FBNC.
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The Board of Directors of First Bancorp (NASDAQ - FBNC) declared a cash dividend of $0.20 per share, marking an 11.1% increase from the previous $0.18 paid in 2020. This dividend is payable on July 25, 2021, to shareholders of record as of June 30, 2021. First Bancorp, headquartered in Southern Pines, North Carolina, has total assets of approximately $7.7 billion and operates 101 branches in North Carolina and South Carolina. The company primarily manages First Bank and offers SBA loans nationwide.
First Bancorp (Nasdaq: FBNC) has announced a definitive merger agreement to acquire Select Bancorp, Inc. (Nasdaq: SLCT) for approximately $314.3 million, or $18.10 per share. The merger, unanimously approved by both boards, is expected to close in Q4 2021, pending shareholder and regulatory approvals. Select Bank operates 22 locations across North Carolina, South Carolina, and Virginia, with reported assets of $1.8 billion. The acquisition aims to enhance First Bank's market presence, bringing total assets to over $9 billion.
First Bancorp (NASDAQ - FBNC) announced a net income of $28.2 million, or $0.99 per diluted share, for Q1 2021, marking a 59.7% increase year-over-year. This growth resulted from lower credit costs and increased noninterest income, with total assets rising to $7.7 billion, a 24.8% annualized increase. Net interest income was $55.2 million, with a net interest margin of 3.27%, down from 3.96% in the prior year. Total noninterest income surged by 50.8% to $20.7 million, driven by higher mortgage origination volumes.
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.
First Bank, North Carolina's largest community bank, introduces a new corporate social responsibility program named The Power of Good, launching on March 19, 2021. This initiative features two main components: a Good Deeds week where employees receive $20 to perform acts of kindness for strangers, and a quarterly employee donation matching program, starting in April, focusing on food assistance. In total, First Bank has $7.1 billion in assets and operates 101 branches. The program aims to engage employees and enhance community impact.
First Bancorp (NASDAQ - FBNC) reported a net income of $23.6 million ($0.83 per diluted share) for Q4 2020, up from $20.9 million ($0.71) in Q4 2019. For the full year, net income was $81.5 million ($2.81 per share), down from $92.0 million ($3.10) in 2019. A significant increase in provisions for loan losses due to COVID-19 was noted, rising to $35.0 million in 2020 from $2.3 million in 2019. Total assets grew by 18.7% to $7.3 billion, driven by a 27.2% increase in deposits. However, the net interest margin fell to 3.56% from 4.00% in 2019.
First Bank, North Carolina's largest community bank, announced a series of charitable donations totaling $55,000, aimed at supporting food security and youth programs in the region. Beneficiaries include NourishNC for a new facility, the Boys & Girls Club for a gym renovation, the United Way of Asheville, and Feeding the Carolinas. President Mike Mayer emphasized the bank's commitment to aiding vulnerable communities, building on previous outreach initiatives throughout 2020. First Bancorp, the bank's parent company, trades on NASDAQ under the symbol FBNC.
The Board of Directors of First Bancorp (NASDAQ - FBNC) has declared a cash dividend of $0.18 per share, payable on January 25, 2021, to shareholders of record as of December 31, 2020. This dividend rate matches the previous quarter's payment. First Bancorp, headquartered in Southern Pines, North Carolina, operates 101 branches primarily in North Carolina and South Carolina, with total assets of approximately $7.1 billion. The company also offers SBA loans through a national network of lenders.