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Complete financial analysis of First Bancorp (FBNC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of First Bancorp, a leading company in the Banks – Regional industry within the Financial Services sector.
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First Bancorp (FBNC)
About First Bancorp
First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. The company also offers loans for a range of consumer and commercial purposes comprising loans for business, real estate, personal, home improvement, and automobiles, as well as residential mortgages and small business administration loans; and accounts receivable financing and factoring, inventory financing, and purchase order financing services. In addition, it provides credit and debit cards, letter of credits, and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers; and internet and mobile banking, cash management, bank-by-phone services, and remote deposit capture services. Further, the company offers investment and insurance products, such as mutual funds, annuities, long-term care insurance, life insurance, and company retirement plans, as well as property and casualty insurance products; and financial planning services. As of December 31, 2021, it operated 121 branches comprising 114 branch offices located in North Carolina and seven branches in South Carolina. First Bancorp was founded in 1934 and is headquartered in Southern Pines, North Carolina.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 546.25M | 392.84M | 320.01M | 299.47M | 274.79M | 269.26M | 213.62M | 159.19M | 148.61M | 162.66M | 165.14M | 160.87M | 176.07M | 191.97M | 196.61M | 107.67M | 97.76M | 90.75M | 83.60M | 77.15M | 70.68M | 61.36M | 50.71M | 43.42M | 28.61M | 25.70M | 22.30M | 20.00M | 17.90M | 16.00M | 14.30M | 13.70M | 12.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 546.25M | 392.84M | 320.01M | 299.47M | 274.79M | 269.26M | 213.62M | 159.19M | 148.61M | 162.66M | 165.14M | 160.87M | 176.07M | 191.97M | 196.61M | 107.67M | 97.76M | 90.75M | 83.60M | 77.15M | 70.68M | 61.36M | 50.71M | 43.42M | 28.61M | 25.70M | 22.30M | 20.00M | 17.90M | 16.00M | 14.30M | 13.70M | 12.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 149.11M | 117.72M | 103.25M | 100.97M | 95.97M | 91.97M | 81.18M | 62.06M | 56.79M | 55.16M | 54.76M | 53.34M | 51.44M | 45.29M | 42.93M | 35.45M | 33.67M | 30.68M | 27.98M | 25.60M | 22.14M | 18.47M | 15.62M | 12.68M | 9.75M | 8.70M | 7.50M | 6.70M | 7.10M | 5.50M | 5.00M | 4.80M | 4.50M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Selling & Marketing | 4.06M | 3.03M | 2.58M | 2.30M | 3.12M | 3.07M | 2.55M | 2.00M | 1.67M | 1.49M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 153.16M | 117.72M | 103.25M | 100.97M | 95.97M | 91.97M | 81.18M | 62.06M | 56.79M | 55.16M | 54.76M | 53.34M | 51.44M | 45.29M | 42.93M | 35.45M | 33.67M | 30.68M | 27.98M | 25.60M | 22.14M | 18.47M | 15.62M | 12.68M | 9.75M | 8.70M | 7.50M | 6.70M | 7.10M | 5.50M | 5.00M | 4.80M | 4.50M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Expenses | 251.14M | -309.24M | -302.94M | -297.31M | -254.49M | -217.90M | -208.89M | -166.91M | -152.84M | -166.45M | -171.52M | -232.70M | 17.65M | 35.51M | -67.89M | -46.68M | -26.81M | -36.03M | -45.81M | -51.92M | -43.87M | -29.44M | -9.68M | -6.81M | -12.66M | -11.20M | -11.20M | -10.30M | -13.80M | -11.00M | -9.50M | -7.40M | -4.10M | 1.60M | 1.90M | 1.90M | 1.40M | 1.00M | 1.00M |
| Operating Expenses | 404.30M | -191.52M | -199.69M | -196.34M | -158.52M | -125.93M | -127.72M | -104.84M | -96.05M | -111.29M | -116.75M | -179.35M | 69.09M | 80.80M | -24.96M | -11.24M | 6.86M | -5.35M | -17.84M | -26.32M | -21.74M | -10.98M | 5.94M | 5.87M | -2.92M | -2.50M | -3.70M | -3.60M | -6.70M | -5.50M | -4.50M | -2.60M | 400.00K | 1.60M | 1.90M | 1.90M | 1.40M | 1.00M | 1.00M |
| Cost & Expenses | 404.30M | -191.52M | -199.69M | -196.34M | -158.52M | -125.93M | -127.72M | -104.84M | -96.05M | -111.29M | -116.75M | -179.35M | 69.09M | 80.80M | -24.96M | -11.24M | 6.86M | -5.35M | -17.84M | -26.32M | -21.74M | -10.98M | 5.94M | 5.87M | -2.92M | -2.50M | -3.70M | -3.60M | -6.70M | -5.50M | -4.50M | -2.60M | 400.00K | 1.60M | 1.90M | 1.90M | 1.40M | 1.00M | 1.00M |
| Interest Income | 488.76M | 340.96M | 255.92M | 237.68M | 250.11M | 231.21M | 177.38M | 130.99M | 126.66M | 139.83M | 147.51M | 152.52M | 155.77M | 159.26M | 155.99M | 147.86M | 148.94M | 129.21M | 101.43M | 81.59M | 74.67M | 73.26M | 76.77M | 72.92M | 39.29M | 35.40M | 29.20M | 25.70M | 23.30M | 19.10M | 17.60M | 18.50M | 20.40M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest Expense | 142.10M | 16.10M | 9.52M | 19.56M | 33.90M | 23.78M | 12.67M | 7.61M | 6.91M | 8.22M | 10.99M | 17.32M | 23.57M | 31.91M | 48.90M | 61.30M | 69.66M | 54.67M | 32.84M | 20.30M | 18.91M | 23.87M | 35.72M | 34.22M | 15.81M | 14.40M | 11.10M | 9.90M | 9.00M | 6.30M | 6.10M | 7.60M | 10.40M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation & Amortization | 19.21M | 12.53M | 11.66M | 11.81M | 12.55M | 11.99M | 9.73M | 5.81M | 722.00K | 777.00K | 860.00K | 897.00K | 902.00K | 874.00K | 630.00K | 3.88M | 3.61M | 3.28M | 3.09M | 2.69M | 2.82M | 2.15M | 3.01M | 1.85M | 1.60M | 1.40M | 1.30M | 1.30M | 1.10M | 1.10M | 1.00M | 1.10M | 700.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | 0.00 | 200.55M | 134.25M | 116.73M | 131.51M | 126.32M | 77.47M | 47.32M | 46.38M | 43.93M | 38.26M | 0.00 | 26.30M | 0.00 | 101.15M | 0.00 | 0.00 | 0.00 | 40.15M | 36.30M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.60M | 1.90M | 1.90M | 1.40M | 1.00M | 1.00M |
| EBITDA Ratio | 0.00% | 52.19% | 38.70% | 35.76% | 44.08% | 55.74% | 42.20% | 34.90% | 35.85% | 32.06% | 29.82% | -10.93% | 28.32% | 24.86% | 76.81% | 93.16% | 110.71% | 97.72% | 82.35% | 69.38% | 73.24% | 85.61% | 117.64% | 117.79% | 95.41% | 95.72% | 89.24% | 88.50% | 68.72% | 72.50% | 75.52% | 89.05% | 108.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Operating Income | 145.65M | 201.32M | 120.32M | 103.13M | 116.28M | 143.33M | 85.90M | 54.34M | 52.56M | 51.37M | 48.39M | -18.48M | 48.97M | 46.85M | 150.40M | 96.43M | 104.62M | 85.40M | 65.76M | 50.84M | 48.94M | 50.38M | 56.64M | 49.30M | 25.69M | 23.20M | 18.60M | 16.40M | 11.20M | 10.50M | 9.80M | 11.10M | 13.10M | 1.60M | 1.90M | 1.90M | 1.40M | 1.00M | 1.00M |
| Operating Income Ratio | 26.66% | 51.25% | 37.60% | 34.44% | 42.31% | 53.23% | 40.21% | 34.14% | 35.37% | 31.58% | 29.30% | -11.49% | 27.81% | 24.40% | 76.49% | 89.56% | 107.02% | 94.10% | 78.66% | 65.89% | 69.25% | 82.11% | 111.70% | 113.53% | 89.81% | 90.27% | 83.41% | 82.00% | 62.57% | 65.63% | 68.53% | 81.02% | 103.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Other Income/Expenses | -13.70M | -48.14M | -62.81M | -42.47M | -41.96M | -45.33M | -46.31M | -34.83M | -29.02M | -29.14M | -30.18M | -897.00K | -5.29M | -36.77M | -142.00K | 156.00K | -69.66M | -2.10M | -272.00K | -1.74M | -18.91M | -23.87M | -35.72M | -34.22M | -15.81M | -14.40M | -11.10M | -9.90M | -9.00M | -6.30M | -6.10M | -7.60M | -10.40M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax | 131.96M | 185.22M | 120.32M | 103.13M | 116.28M | 113.48M | 67.74M | 42.13M | 41.16M | 38.53M | 32.78M | -40.36M | 21.01M | 14.94M | 97.88M | 35.13M | 34.96M | 30.73M | 32.92M | 30.53M | 30.03M | 26.51M | 20.92M | 15.08M | 9.88M | 8.80M | 7.50M | 6.50M | 2.20M | 4.20M | 3.70M | 3.50M | 2.70M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Income Before Tax Ratio | 24.16% | 47.15% | 37.60% | 34.44% | 42.31% | 42.14% | 31.71% | 26.47% | 27.70% | 23.69% | 19.85% | -25.09% | 11.93% | 7.78% | 49.78% | 32.62% | 35.76% | 33.86% | 39.38% | 39.57% | 42.49% | 43.21% | 41.26% | 34.72% | 34.54% | 34.24% | 33.63% | 32.50% | 12.29% | 26.25% | 25.87% | 25.55% | 21.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Income Tax Expense | 27.83M | 38.28M | 24.68M | 21.65M | 24.23M | 24.19M | 21.77M | 14.62M | 14.13M | 13.54M | 12.08M | -16.95M | 7.37M | 4.96M | 37.62M | 13.12M | 13.15M | 11.42M | 16.83M | 10.42M | 10.62M | 9.28M | 7.31M | 5.74M | 3.26M | 3.10M | 2.50M | 2.20M | 600.00K | 1.20M | 1.00M | 1.00M | 700.00K | -1.60M | -1.90M | -1.90M | -1.40M | -1.00M | -1.00M |
| Net Income | 104.13M | 146.94M | 95.64M | 81.48M | 92.05M | 89.29M | 45.97M | 27.51M | 27.03M | 25.00M | 20.70M | -23.41M | 13.64M | 9.98M | 60.26M | 22.01M | 21.81M | 19.30M | 16.09M | 20.11M | 19.42M | 17.23M | 13.62M | 9.34M | 6.62M | 5.70M | 5.00M | 4.30M | 1.60M | 3.00M | 2.70M | 2.50M | 2.00M | 1.60M | 1.90M | 1.90M | 1.40M | 1.00M | 1.00M |
| Net Income Ratio | 19.06% | 37.40% | 29.89% | 27.21% | 33.50% | 33.16% | 21.52% | 17.28% | 18.19% | 15.37% | 12.53% | -14.55% | 7.75% | 5.20% | 30.65% | 20.44% | 22.31% | 21.27% | 19.25% | 26.07% | 27.47% | 28.08% | 26.85% | 21.51% | 23.14% | 22.18% | 22.42% | 21.50% | 8.94% | 18.75% | 18.88% | 18.25% | 15.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EPS | 2.54 | 4.12 | 3.19 | 2.81 | 3.12 | 3.02 | 1.82 | 1.37 | 1.34 | 1.22 | 1.01 | -1.37 | 0.44 | 0.35 | 3.38 | 1.38 | 1.52 | 1.35 | 1.14 | 1.42 | 1.38 | 1.26 | 1.01 | 0.70 | 0.88 | 0.56 | 0.33 | 0.28 | 0.05 | 0.10 | 0.09 | 0.08 | 0.07 | 0.24 | 0.28 | 0.28 | 0.21 | 0.04 | 0.05 |
| EPS Diluted | 2.51 | 4.12 | 3.19 | 2.81 | 3.10 | 3.01 | 1.82 | 1.33 | 1.30 | 1.19 | 0.98 | -1.37 | 0.44 | 0.35 | 3.37 | 1.37 | 1.51 | 1.34 | 1.12 | 1.40 | 1.35 | 1.23 | 0.98 | 0.69 | 0.85 | 0.54 | 0.32 | 0.28 | 0.05 | 0.10 | 0.09 | 0.08 | 0.07 | 0.24 | 0.28 | 0.28 | 0.21 | 0.04 | 0.05 |
| Weighted Avg Shares Out | 40.75M | 35.49M | 29.88M | 28.84M | 29.55M | 29.57M | 25.21M | 19.96M | 19.77M | 19.70M | 19.68M | 17.02M | 16.86M | 16.76M | 16.65M | 15.98M | 14.38M | 14.29M | 14.17M | 14.14M | 14.08M | 13.71M | 13.55M | 13.35M | 13.45M | 10.19M | 6.80M | 6.79M | 6.78M | 6.76M | 6.76M | 6.76M | 6.76M | 6.76M | 6.77M | 6.76M | 6.76M | 23.03M | 19.96M |
| Weighted Avg Shares Out (Dil) | 41.16M | 35.67M | 30.03M | 28.98M | 29.72M | 29.71M | 25.29M | 20.73M | 20.50M | 20.43M | 20.40M | 17.05M | 16.88M | 16.79M | 16.70M | 16.03M | 14.47M | 14.44M | 14.36M | 14.40M | 14.35M | 13.98M | 13.91M | 13.61M | 14.04M | 10.48M | 6.80M | 6.79M | 6.78M | 6.76M | 6.76M | 6.76M | 6.76M | 6.76M | 6.77M | 6.76M | 6.76M | 23.03M | 19.96M |
What Makes First Bancorp (FBNC) a New Strong Buy Stock
First Bancorp (FBNC) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
First Bancorp (FBNC) Beats Q3 Earnings Estimates
First Bancorp (FBNC) came out with quarterly earnings of $0.70 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.73 per share a year ago.
First Bancorp Reports Third Quarter Results
SOUTHERN PINES, N.C. , Oct. 23, 2024 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported third quarter earnings today.
Federal Home Loan Bank of Atlanta Announces 2024 Director Election Results
ATLANTA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Federal Home Loan Bank of Atlanta (FHLBank Atlanta) today announced the results of the 2024 director election. The Bank conducted an election to fill the member directorships for North Carolina and Virginia, an...
First Bancorp (FBNC) Expected to Beat Earnings Estimates: Should You Buy?
First Bancorp (FBNC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
First Bancorp Announces Cash Dividend
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...
First BanCorp.: Raising The Earnings Estimate And Upgrading To Buy
Following the better-than-expected expense control during the first half of the year, I've decided to raise my earnings estimate for First BanCorp. for 2024. Mid-single-digit loan growth is the main earnings catalyst for FBP for the next year and a...
Are You Looking for a Top Momentum Pick? Why First Bancorp (FBNC) is a Great Choice
Does First Bancorp (FBNC) have what it takes to be a top stock pick for momentum investors? Let's find out.
First Bancorp (FBNC) Now Trades Above Golden Cross: Time to Buy?
First Bancorp (FBNC) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, FBNC's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.
First Bancorp (FBNC) Is Up 13.21% in One Week: What You Should Know
Does First Bancorp (FBNC) have what it takes to be a top stock pick for momentum investors? Let's find out.
Source: https://incomestatements.info
Category: Stock Reports