FIRST BANCORP /NC/

For the period ended Jun 30, 2025. Filed Aug 7, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 7, 2025

FBNC$64.81-0.8%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

Index

Consolidated Statements of Income

	Three Months Ended June 30,		Six Months Ended June 30,
($ in thousands, except share data - unaudited)	2025	2024	2025	2024
Interest Income
Interest and fees on loans	$112,931	$110,472	$223,464	$220,270
Interest on investment securities:
Taxable interest income	16,857	11,291	32,381	24,019
Tax-exempt interest income	1,116	1,117	2,232	2,234
Other, principally overnight investments	5,837	5,942	11,324	8,913
Total interest income	136,741	128,822	269,401	255,436
Interest Expense
Interest on deposits	38,405	44,744	76,524	83,879
Interest on borrowings	1,660	2,963	3,318	11,168
Total interest expense	40,065	47,707	79,842	95,047
Net interest income	96,676	81,115	189,559	160,389
Provision for credit losses	2,212	541	3,328	1,741
Net interest income after provision for credit losses	94,464	80,574	186,231	158,648
Noninterest Income
Service charges on deposit accounts	3,976	4,139	7,743	8,007
Other service charges and fees	6,595	5,314	12,478	10,884
Presold mortgage loan fees and gains on sale	315	588	765	926
Commissions from sales of financial products	1,388	1,377	2,796	2,697
SBA loan sale gains	151	1,336	203	2,231
Bank-owned life insurance income	1,221	1,179	2,449	2,343
Securities losses, net	—	(186)	—	(1,161)
Other income, net	695	854	809	1,570
Total noninterest income	14,341	14,601	27,243	27,497
Noninterest Expense
Salaries, incentives and commissions expense	29,005	27,809	57,666	55,451
Employee benefit expense	6,187	6,703	12,282	12,972
Total personnel expense	35,192	34,512	69,948	68,423
Occupancy and equipment expense	5,195	4,877	10,387	10,952
Intangibles amortization expense	1,468	1,669	2,984	3,428
Other operating expenses	17,128	17,233	33,557	34,675
Total noninterest expenses	58,983	58,291	116,876	117,478
Income before income taxes	49,822	36,884	96,598	68,667
Income tax expense	11,256	8,172	21,626	14,683
Net income	$38,566	$28,712	$74,972	$53,984
Earnings per common share:
Basic	$0.93	$0.70	$1.81	$1.31
Diluted	0.93	0.70	1.81	1.31
Weighted average common shares outstanding:
Basic	41,168,260	40,879,684	41,149,623	40,861,775
Diluted	41,441,393	41,262,091	41,424,063	41,256,081

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.