Overview
With total consolidated assets of about $12.1 billion, total loans of some $8.2 billion, and total deposits of around $10.0 billion, First Bancorp is the parent company of First Bank, a state-chartered bank. With nearly 120 branches in North Carolina and South Carolina, the bank provides diversified financial services, including commercial and consumer banking, mortgage lending, SBA lending, accounts receivable financing, and investment advisory services.
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Read More The bank has three wholly-owned subsidiaries: SBA Complete, which specializes in providing consulting services related to SBA loan origination and servicing; Magnolia Financial, which offers accounts receivable financing and factoring, inventory financing, and purchase order financing; and First Troy SPE, holding entity for certain foreclosed properties.
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Read More The bank has three wholly-owned subsidiaries: SBA Complete, which specializes in providing consulting services related to SBA loan origination and servicing; Magnolia Financial, which offers accounts receivable financing and factoring, inventory financing, and purchase order financing; and First Troy SPE, holding entity for certain foreclosed properties.
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Depository Credit Intermediation
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Credit Intermediation and Related Activities
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Finance and Insurance
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State commercial banks
Activities Related to Credit Intermediation
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Agencies, Brokerages, and Other Insurance Related Activities
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Insurance Carriers
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Insurance and Employee Benefit Funds
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Monetary Authorities-Central Bank
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Nondepository Credit Intermediation
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Other Financial Investment Activities
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Other Investment Pools and Funds
View more , Securities and Commodity Contracts Intermediation and Brokerage Securities and Commodity Exchanges
View fewer
View more , Securities and Commodity Contracts Intermediation and Brokerage Securities and Commodity Exchanges
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Modelled
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Actual
$537.14 million
Actual
-13.83%
-26.81%
$12,147
DEC
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NASDAQ:FBNC
Contacts
Get in Touch with 4 Principals* and 114 Contacts
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Richard H MoorePresident and Chief Executive Officer
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Contact 2?
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Contact 3?
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Contact 4?
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Financial Statements
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Financial data as of December 31, 2024 (12 month period) in USD
Annual Revenue 2024
$537.14 million
USD
Actual
All financial statement data is in millions except per share data | Source: Morningstar
| Cash Flow (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Net Operating Cash | $175 | $131 | $231 |
| Net Investing Cash | $170 | -$191 | -$713 |
| Net Financing Cash | -$75 | $28 | $292 |
| Net Change in Cash | $270 | -$32 | -$191 |
| Cash at Beginning of Period | $238 | $270 | $461 |
| Cash at End of Period | $508 | $238 | $270 |
| Capital Expenditure | -$3 | -$4 | -$5 |
| Assets (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Assets | |||
| Cash and Cash Equivalents | $508 | $238 | $270 |
| Accounts Receivable | $36 | $37 | $30 |
| Inventories | $ | $ | $ |
| Other Current Assets | $ | $ | $ |
| Asset Summary | |||
| Total Current Assets | $ | $ | $ |
| Tangible Fixed Assets | $143 | $151 | $153 |
| Intangible Assets | $23 | $30 | $13 |
| Total Assets | $12,148 | $12,115 | $10,625 |
| Liabilities (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Current Liabilities | |||
| Accounts Payable | $5 | $6 | $3 |
| Short-Term Debt | $ | $ | $ |
| Other Current Liabilities | $ | $ | $ |
| Liability Summary | |||
| Total Current Liabilities | $ | $ | $ |
| Long-Term Debt | $15 | $304 | $218 |
| Other Long-Term Liabilities | $ | $ | $ |
| Total Liabilities | $10,702 | $10,743 | $9,593 |
| Stakeholder's Equity (mil) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Equity | |||
| Common Stock | $971 | $964 | $725 |
| Retained Earnings | $756 | $716 | $648 |
| Equity Summary | |||
| Total Equity | $1,446 | $1,372 | $1,032 |
| Shares Outstanding | 41,347,418 | 41,109,987 | 35,704,154 |