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FBNC

First Bancorp

FBNC

First Bancorp • NASDAQ
$51.01 ▼ -0.74% (-0.38)
Market Cap $2.12 B
52w High $56.45
52w Low $34.50
Dividend Yield 0.90%
P/E 21.43
Volume 116.33K
Outstanding Shares 41.47M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $127.879M ▼ $60.211M ▲ $20.363M ▼ 15.924% ▼ $0.49 ▼ $27.351M ▼
Q2-2025 $149.508M ▲ $57.409M ▲ $38.566M ▲ 25.795% ▲ $0.93 ▲ $53.553M ▲
Q1-2025 $144.402M ▲ $56.733M ▲ $36.406M ▲ 25.212% ▲ $0.88 ▲ $50.764M ▲
Q4-2024 $107.347M ▼ $56.408M ▼ $3.551M ▼ 3.308% ▼ $0.09 ▼ $11.163M ▼
Q3-2024 $143.236M $58.098M $18.68M 13.041% $0.45 $26.828M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.239B ▲ $12.75B ▲ $11.147B ▲ $1.603B ▲
Q2-2025 $2.713B ▲ $12.608B ▲ $11.052B ▲ $1.556B ▲
Q1-2025 $2.684B ▲ $12.436B ▲ $10.928B ▲ $1.508B ▲
Q4-2024 $2.405B ▼ $12.148B ▼ $10.702B ▲ $1.446B ▼
Q3-2024 $2.652B $12.153B $10.676B $1.478B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $20.363M ▼ $49.668M ▲ $-203.757M ▼ $40.778M ▼ $-113.311M ▼ $48.206M ▲
Q2-2025 $38.566M ▲ $45.711M ▼ $-183.936M ▼ $77.07M ▼ $-61.155M ▼ $44.343M ▼
Q1-2025 $36.406M ▲ $52.596M ▼ $8.583M ▲ $203.755M ▲ $264.934M ▲ $52.353M ▼
Q4-2024 $3.551M ▼ $68.729M ▲ $-321.584M ▼ $15.921M ▲ $-236.934M ▼ $68.231M ▲
Q3-2024 $18.68M $38.422M $87.907M $9.7M $136.029M $37.984M

Five-Year Company Overview

Income Statement

Income Statement Earnings have followed a clear cycle. From 2020 through 2022, revenue and profits climbed steadily as the bank grew and benefited from a favorable rate backdrop. Profitability peaked around 2022, then pulled back in 2023 and 2024, suggesting pressure from higher funding costs, a tougher lending environment, or higher credit costs. Margins are still positive, but not as rich as in the peak year, and earnings per share have come down from those highs. Overall, the business remains solidly profitable, but recent years show that growth has paused and the bank is working through a more challenging operating environment.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully over the last five years, reflecting growth in loans and customer relationships. Cash levels have moved around but remain healthy for a regional bank, giving some flexibility. Debt rose as the bank grew, then eased back more recently, which points to some conscious balance sheet management after a period of heavy funding use. Shareholders’ equity has grown steadily, which is a positive sign of retained earnings and capital build. In simple terms, the franchise has gotten larger and somewhat stronger, though it still faces the usual regional-bank risks tied to credit quality and local economies.

Cash Flow

Cash Flow Cash generation from the core business has been consistently positive, even if it moves up and down from year to year. Free cash flow closely tracks operating cash flow because the bank’s capital spending needs are modest, which is typical for a service-heavy financial institution. This pattern suggests that day‑to‑day banking operations are reliably producing cash and that growth and technology investments are being funded without visible strain. However, as with most banks, headline cash flow figures can be noisy, so the trend of steady positive generation is more important than any single year’s movement.

Competitive Edge

Competitive Edge First Bancorp sits firmly in the community and regional banking niche, with a strong presence in the Carolinas. Its edge comes less from exotic products and more from local knowledge, long-standing customer relationships, and solid service to small and mid‑sized businesses. Industry recognition in small business banking supports this relationship‑driven strength. Strategic acquisitions have helped it deepen and widen its footprint. At the same time, it competes directly with national banks, credit unions, and fintechs, all of which can pressure pricing and deposit retention. Its moat is real but regional and relationship‑based, and it depends heavily on continuing to execute well at the local level.

Innovation and R&D

Innovation and R&D The bank’s innovation focus is practical rather than flashy. It has built a full digital banking suite and mobile app that meet modern customer expectations and added personal finance tools and small‑business e‑banking features. Leadership changes, including roles dedicated to operations and transformation, show a deliberate push to modernize processes and use technology to improve efficiency and customer experience. These tools are mostly in line with industry standards rather than groundbreaking, so the differentiation comes from how well First Bancorp blends technology with high‑touch service. The main uncertainty is execution: how quickly and effectively the bank can turn this transformation focus into better productivity, deeper digital engagement, and a smoother integration of future acquisitions.

Summary

First Bancorp today looks like a mature, growing regional bank that enjoyed a strong upswing through 2022 and is now managing through a more normal, somewhat tougher phase of the banking cycle. Earnings remain positive but off their peak, while the balance sheet has grown and capital has strengthened over time. Cash generation is steady, and investment needs appear manageable. Competitively, the bank leans on its community roots, small‑business focus, and a “high‑touch, high‑tech” model to stand out in its markets, but it faces ongoing pressure from larger banks and digital‑first players. The key opportunities lie in further digital improvement, operational efficiency, and thoughtful integration of acquisitions. Key risks revolve around interest‑rate swings, local economic slowdowns, credit quality, and the bank’s ability to keep pace with technology and customer expectations without overextending itself.

NEWS

October 30, 2025 · 10:00 AM UTC

Adam Currie Appointed to Board of Directors of First Bank and First Bancorp

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October 22, 2025 · 4:05 PM UTC

First Bancorp Reports Third Quarter Results

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September 12, 2025 · 9:20 AM UTC

First Bancorp Announces Cash Dividend

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