FIRST BANCORP /NC/

For the period ended Sep 30, 2026. Filed Nov 2, 2026.

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.

Sep 30, 2026 · Filed Nov 2, 2026

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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Contents

Consolidated Balance Sheets

($ in thousands - unaudited)	September 30,2026	December 31,2025
Assets
Cash and due from banks, noninterest-bearing	$131,879	$146,759
Due from banks, interest-bearing	319,832	162,836
Total cash and cash equivalents	451,711	309,595
Securities available for sale (amortized cost of $2,249,799 and $2,242,678, respectively)	1,986,024	2,048,556
Securities held to maturity (fair values of $407,940 and $448,452, respectively)	508,100	513,099
Presold mortgages in process of settlement	2,677	7,790
Loans	9,104,899	8,722,419
Allowance for credit losses on loans	(124,241)	(123,581)
Net loans	8,980,658	8,598,838
Premises and equipment, net	140,053	139,125
Accrued interest receivable	38,594	39,206
Goodwill	478,750	478,750
Other intangible assets, net	13,633	17,232
Bank-owned life insurance	197,379	193,286
Other assets	353,974	322,862
Total assets	$13,151,553	$12,668,339
Liabilities
Deposits
Noninterest-bearing deposits	$3,626,442	$3,486,985
Interest-bearing deposits	7,499,862	7,261,436
Total deposits	11,126,304	10,748,421
Borrowings	74,793	74,569
Accrued interest payable	4,092	3,747
Other liabilities	233,219	187,434
Total liabilities	11,438,408	11,014,171
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: 41,399,233 shares and 41,466,227 shares, respectively	967,738	973,884
Retained earnings	948,317	829,659
Stock in rabbi trust assumed in acquisition	(541)	(885)
Rabbi trust obligation	541	885
Accumulated other comprehensive loss	(202,910)	(149,375)
Total shareholders’ equity	1,713,145	1,654,168
Total liabilities and shareholders’ equity	$13,151,553	$12,668,339

Index

Consolidated Statements of Income

	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
($ in thousands, except share data-unaudited)	2026	2025	2026	2025
Interest Income
Interest and fees on loans	$131,056	$118,855	$377,648	$342,273
Interest on investment securities:
Taxable interest income	17,882	17,571	52,363	49,952
Tax-exempt interest income	1,113	1,114	3,343	3,346
Other, principally overnight investments	3,928	6,693	11,330	18,017
Total interest income	153,979	144,233	444,684	413,588
Interest Expense
Interest on deposits	37,919	40,035	107,777	116,559
Interest on borrowings	1,263	1,676	3,728	4,994
Total interest expense	39,182	41,711	111,505	121,553
Net interest income	114,797	102,522	333,179	292,035
Provision for credit losses	1,300	3,442	5,552	6,770
Net interest income after provision for loan losses	113,497	99,080	327,627	285,265
Noninterest Income
Service charges on deposit accounts	4,574	4,225	12,733	11,968
Other service charges, commissions and fees	5,500	6,322	17,428	18,846
Presold mortgage loan fees and gains on sale	379	471	1,708	1,236
Commissions from sales of insurance and financial products	1,611	1,678	4,810	4,474
SBA loan sale gains	924	869	2,356	1,072
Bank-owned life insurance income	1,395	1,289	4,093	3,738
Security losses, net	—	(27,905)	—	(27,905)
Other income, net	734	99	3,201	867
Total noninterest income	15,117	(12,952)	46,329	14,296
Noninterest Expense
Salaries expense	32,652	31,065	94,159	88,731
Employee benefits expense	6,810	5,751	20,284	18,033
Total personnel expense	39,462	36,816	114,443	106,764
Occupancy and equipment expense	5,253	5,145	15,569	15,532
Merger and acquisition expenses	450	—	450	—
Intangibles amortization expense	1,153	1,394	3,599	4,378
Other operating expenses	17,673	16,816	52,909	50,332
Total noninterest expenses	63,991	60,171	186,970	177,006
Income before income taxes	64,623	25,957	186,986	122,555
Income tax expense	13,347	5,594	38,532	27,220
Net Income	$51,276	$20,363	$148,454	$95,335
Earnings per common share:
Basic	$1.24	$0.49	$3.59	$2.30
Diluted	1.24	0.49	3.59	2.30
Weighted average common shares outstanding:
Basic	41,196,822	41,237,874	41,210,549	41,179,363
Diluted	41,393,792	41,481,542	41,409,330	41,443,636

Index

Consolidated Statements of Comprehensive Income

	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
($ in thousands - unaudited)	2026	2025	2026	2025
Net Income	$51,276	$20,363	$148,454	$95,335
Other comprehensive (loss) income:
Unrealized (losses) gains on securities available for sale:
Unrealized holding (losses) gains arising during the period, pretax	(59,306)	19,222	(69,653)	88,384
Tax benefit (expense)	13,669	(4,488)	16,059	(21,139)
Reclassification to realized losses	—	27,905	—	27,905
Tax expense	—	(6,516)	—	(6,516)
Postretirement Plans:
Amortization of unrecognized net actuarial losses	26	—	77	—
Tax expense	(6)	—	(18)	—
Other comprehensive (loss) income	(45,617)	36,123	(53,535)	88,634
Comprehensive income	$5,659	$56,486	$94,919	$183,969

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.