FIRST BANCORP NC
For the period ended Sep 30, 2024. Filed Nov 6, 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.
Sep 30, 2024 · Filed Nov 6, 2024
FBNC$65.31+1.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
| ($ in thousands - unaudited) | September 30,2024 | December 31,2023 |
|---|---|---|
| Assets | ||
| Cash and due from banks, noninterest-bearing | $74,034 | $100,891 |
| Due from banks, interest-bearing | 670,407 | 136,964 |
| Total cash and cash equivalents | 744,441 | 237,855 |
| Securities available for sale (amortized cost of $2,238,996 and $2,590,099, respectively) | 1,907,458 | 2,189,379 |
| Securities held to maturity (fair values of $448,300 and $449,623, respectively) | 521,801 | 533,678 |
| Presold mortgages in process of settlement | 9,888 | 2,667 |
| Loans | 8,013,538 | 8,150,102 |
| Allowance for credit losses on loans | (122,718) | (109,853) |
| Net loans | 7,890,820 | 8,040,249 |
| Premises and equipment, net | 144,868 | 150,957 |
| Accrued interest receivable | 32,890 | 37,351 |
| Goodwill | 478,750 | 478,750 |
| Other intangible assets, net | 24,466 | 29,507 |
| Bank-owned life insurance | 187,236 | 183,897 |
| Other assets | 210,812 | 230,652 |
| Total assets | $12,153,430 | $12,114,942 |
| Liabilities | ||
| Deposits | ||
| Noninterest-bearing deposits | $3,350,237 | $3,379,876 |
| Interest-bearing deposits | 7,154,692 | 6,651,723 |
| Total deposits | 10,504,929 | 10,031,599 |
| Borrowings | 91,694 | 630,158 |
| Accrued interest payable | 5,566 | 5,699 |
| Other liabilities | 73,716 | 75,106 |
| Total liabilities | 10,675,905 | 10,742,562 |
| Commitments and contingencies | ||
| Shareholders' Equity | ||
| Preferred stock, no par value per share. Authorized: 5,000,000 shares | ||
| Issued & outstanding: none and none, respectively | — | — |
| Common stock, no par value per share. Authorized: 60,000,000 shares | ||
| Issued & outstanding: 41,340,099 shares and 41,109,987 shares, respectively | 970,450 | 963,990 |
| Retained earnings | 761,881 | 716,420 |
| Stock in rabbi trust assumed in acquisition | (1,148) | (1,385) |
| Rabbi trust obligation | 1,148 | 1,385 |
| Accumulated other comprehensive loss | (254,806) | (308,030) |
| Total shareholders’ equity | 1,477,525 | 1,372,380 |
| Total liabilities and shareholders’ equity | $12,153,430 | $12,114,942 |
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