FIRST BANCORP NC
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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FY2024 · Filed Feb 26, 2025
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) | December 31, 2024 | December 31, 2023 |
|---|---|---|
| Assets | ||
| Cash and due from banks, noninterest-bearing | $78,596 | $100,891 |
| Due from banks, interest-bearing | 428,911 | 136,964 |
| Total cash and cash equivalents | 507,507 | 237,855 |
| Securities available for sale (amortized cost of $2,411,117 and $2,590,099, respectively) | 2,043,062 | 2,189,379 |
| Securities held to maturity (fair values of $428,571 and $449,623, respectively) | 519,998 | 533,678 |
| Presold mortgages in process of settlement | 5,942 | 2,667 |
| Loans | 8,094,676 | 8,150,102 |
| Allowance for credit losses on loans | (122,572) | (109,853) |
| Net loans | 7,972,104 | 8,040,249 |
| Premises and equipment, net | 143,459 | 150,957 |
| Accrued interest receivable | 36,329 | 37,351 |
| Goodwill | 478,750 | 478,750 |
| Other intangible assets, net | 22,904 | 29,507 |
| Bank-owned life insurance | 188,460 | 183,897 |
| Other assets | 229,179 | 230,652 |
| Total assets | $12,147,694 | $12,114,942 |
| Liabilities | ||
| Deposits | ||
| Noninterest-bearing deposits | $3,367,624 | $3,379,876 |
| Interest-bearing deposits | 7,162,901 | 6,651,723 |
| Total deposits | 10,530,525 | 10,031,599 |
| Borrowings | 91,876 | 630,158 |
| Accrued interest payable | 4,604 | 5,699 |
| Other liabilities | 75,078 | 75,106 |
| Total liabilities | 10,702,083 | 10,742,562 |
| Commitments and contingencies (see Note 12) | ||
| 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: 41,347,418 shares and 41,109,987 shares, respectively | 971,313 | 963,990 |
| Retained earnings | 756,327 | 716,420 |
| Stock in rabbi trust assumed in acquisition | (1,148) | (1,385) |
| Rabbi trust obligation | 1,148 | 1,385 |
| Accumulated other comprehensive income (loss) | (282,029) | (308,030) |
| Total shareholders’ equity | 1,445,611 | 1,372,380 |
| Total liabilities and shareholders’ equity | $12,147,694 | $12,114,942 |
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