FIRST BANCORP /NC/

For the period ended Dec 31, 2025. Filed Feb 25, 2026.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 25, 2026

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

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Contents

Consolidated Statements of Income

	Year Ended December 31,
($ in thousands, except per share data)	2025	2024	2023
Interest Income
Interest and fees on loans	$462,306	$441,181	$418,853
Interest on investment securities:
Taxable interest income	68,055	47,510	52,276
Tax-exempt interest income	4,461	4,466	4,485
Other, principally overnight investments	22,413	26,083	13,330
Total interest income	557,235	519,240	488,944
Interest Expense
Interest on deposits	152,518	172,085	114,866
Interest on borrowings	6,470	14,882	27,235
Total interest expense	158,988	186,967	142,101
Net interest income	398,247	332,273	346,843
Provision for credit losses	11,502	16,448	17,813
Net interest income after provision for credit losses	386,745	315,825	329,030
Noninterest Income
Service charges on deposit accounts	16,237	16,620	16,800
Other service charges and fees	24,486	22,267	22,085
Presold mortgage loan fees and gains on sale	1,819	2,292	1,613
Commissions from sales of financial products	6,274	5,270	5,503
SBA loan sale gains	1,072	3,630	2,489
Bank-owned life insurance income	5,113	4,773	4,350
Securities losses, net	(71,627)	(37,981)	—
Other income, net	8,691	1,028	4,465
Total noninterest income	(7,935)	17,899	57,305
Noninterest Expense
Salaries incentives and commissions expense	119,478	113,853	114,415
Employee benefit expense	24,706	26,169	25,436
Total personnel expense	144,184	140,022	139,851
Occupancy and equipment expense	20,435	20,535	21,554
Merger and acquisition expenses	—	—	13,695
Intangibles amortization expense	5,672	6,604	8,003
Other operating expenses	69,019	68,446	71,276
Total noninterest expense	239,310	235,607	254,379
Income before income taxes	139,500	98,117	131,956
Income tax expense	28,452	21,902	27,825
Net income	$111,048	$76,215	$104,131
Earnings per common share:
Basic	$2.68	$1.85	$2.54
Diluted	2.68	1.84	2.53
Weighted average common shares outstanding:
Basic	41,196,459	41,021,475	40,746,772
Diluted	41,453,247	41,327,216	41,164,834

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