FIRST BANCORP NC
For the period ended Dec 31, 2023. Filed Feb 28, 2024.
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FY2023 · Filed Feb 28, 2024
FBNC$64.81-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of December 31, 202 and
Consolidated Balance Sheets
December 31, 2023 and 2022
| ($ in thousands) | 2023 | 2022 |
|---|---|---|
| Assets | ||
| Cash and due from banks, noninterest-bearing | $100,891 | 101,133 |
| Due from banks, interest-bearing | 136,964 | 169,185 |
| Total cash and cash equivalents | 237,855 | 270,318 |
| Securities available for sale | 2,189,379 | 2,314,493 |
| Securities held to maturity (fair values of $449,623 in 2023 and $432,528 in 2022) | 533,678 | 541,700 |
| Presold mortgages and SBA loans in process of settlement | 2,667 | 1,282 |
| Loans | 8,150,102 | 6,665,145 |
| Allowance for credit losses on loans | (109,853) | (90,967) |
| Net loans | 8,040,249 | 6,574,178 |
| Premises and equipment, net | 150,957 | 134,187 |
| Operating right-of-use lease assets | 17,063 | 18,733 |
| Accrued interest receivable | 37,351 | 29,710 |
| Goodwill | 478,750 | 364,263 |
| Other intangible assets, net | 32,858 | 12,675 |
| Bank-owned life insurance | 183,897 | 164,592 |
| Other assets | 210,238 | 198,918 |
| Total assets | $12,114,942 | 10,625,049 |
| Liabilities | ||
| Deposits: Noninterest-bearing deposits | $3,379,876 | 3,566,003 |
| Interest-bearing deposits | 6,651,723 | 5,661,526 |
| Total deposits | 10,031,599 | 9,227,529 |
| Borrowings | 630,158 | 287,507 |
| Accrued interest payable | 5,699 | 2,738 |
| Operating lease liabilities | 17,833 | 19,391 |
| Other liabilities | 57,273 | 56,288 |
| Total liabilities | 10,742,562 | 9,593,453 |
| Commitments and contingencies (see Note 12) | ||
| Shareholders’ Equity | ||
| Preferred stock, no par value per share. Authorized: 5,000,000 shares | ||
| Issued & outstanding: none in 2023 and 2022 | — | — |
| Common stock, no par value per share. Authorized: 60,000,000 shares | ||
| Issued & outstanding: 41,109,987 shares in 2023 and 35,704,154 shares in 2022 | 963,990 | 725,153 |
| Retained earnings | 716,420 | 648,418 |
| Stock in rabbi trust assumed in acquisition | (1,385) | (1,585) |
| Rabbi trust obligation | 1,385 | 1,585 |
| Accumulated other comprehensive loss | (308,030) | (341,975) |
| Total shareholders’ equity | 1,372,380 | 1,031,596 |
| Total liabilities and shareholders’ equity | $12,114,942 | 10,625,049 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.