FIRST BANCORP NC
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
FBNC$64.81-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets - March 31 and December 31,
Consolidated Balance Sheets
| ($ in thousands - unaudited) | March 31,2024 | December 31,2023 |
|---|---|---|
| Assets | ||
| Cash and due from banks, noninterest-bearing | $87,181 | 100,891 |
| Due from banks, interest-bearing | 266,661 | 136,964 |
| Total cash and cash equivalents | 353,842 | 237,855 |
| Securities available for sale | 2,088,483 | 2,189,379 |
| Securities held to maturity (fair values of $436,655 at March 31, 2024 and $449,623 at December 31, 2023) | 525,627 | 533,678 |
| Presold mortgages in process of settlement | 6,703 | 2,667 |
| Loans | 8,076,506 | 8,150,102 |
| Allowance for credit losses on loans | (110,067) | (109,853) |
| Net loans | 7,966,439 | 8,040,249 |
| Premises and equipment, net | 150,546 | 150,957 |
| Operating right-of-use lease assets | 16,551 | 17,063 |
| Accrued interest receivable | 35,147 | 37,351 |
| Goodwill | 478,750 | 478,750 |
| Other intangible assets, net | 30,886 | 32,858 |
| Bank-owned life insurance | 185,061 | 183,897 |
| Other assets | 253,562 | 210,238 |
| Total assets | $12,091,597 | 12,114,942 |
| Liabilities | ||
| Deposits: Noninterest-bearing deposits | $3,362,265 | 3,379,876 |
| Interest-bearing deposits | 6,941,046 | 6,651,723 |
| Total deposits | 10,303,311 | 10,031,599 |
| Borrowings | 332,335 | 630,158 |
| Accrued interest payable | 9,847 | 5,699 |
| Operating lease liabilities | 17,343 | 17,833 |
| Other liabilities | 52,662 | 57,273 |
| Total liabilities | 10,715,498 | 10,742,562 |
| Commitments and contingencies | ||
| Shareholders' Equity | ||
| Preferred stock, no par value per share. Authorized: 5,000,000 shares | ||
| Issued & outstanding: none as of March 31, 2024 and December 31, 2023 | — | — |
| Common stock, no par value per share. Authorized: 60,000,000 shares | ||
| Issued & outstanding: 41,156,286 shares and 41,109,987 shares as of March 31, 2024 and December 31, 2023, respectively | 965,429 | 963,990 |
| Retained earnings | 732,643 | 716,420 |
| Stock in rabbi trust assumed in acquisition | (1,396) | (1,385) |
| Rabbi trust obligation | 1,396 | 1,385 |
| Accumulated other comprehensive loss | (321,973) | (308,030) |
| Total shareholders’ equity | 1,376,099 | 1,372,380 |
| Total liabilities and shareholders’ equity | $12,091,597 | 12,114,942 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.