First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and small to medium-sized businesses primarily in North Carolina and northeastern South Carolina. It accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. The company also offers loans for a range of consumer and commercial purposes comprising loans for business, real estate, personal, home improvement, and automobiles, as well as residential mortgages and small business administration loans. In addition, it provides credit and debit cards, letter of credits, and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers; and internet and mobile banking, cash management, bank-by-phone services, and remote deposit capture services. Further, the company offers investment and insurance products, such as mutual funds, annuities, long-term care insurance, life insurance, and company retirement plans, as well as property and casualty insurance products; and financial planning services. As of January 27, 2021, it operated 101 branches in North Carolina and South Carolina. The company was founded in 1934 and is headquartered in Southern Pines, North Carolina.
IPO Year: 1987
Exchange: NASDAQ
Website: localfirstbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/13/2025 | $48.00 | Neutral | Piper Sandler |
| 3/26/2025 | $48.00 | Overweight | Stephens |
| 2/7/2025 | Buy → Neutral | Janney | |
| 9/14/2023 | $36.50 → $34.00 | Neutral → Buy | DA Davidson |
| 7/31/2023 | Outperform → Mkt Perform | Raymond James | |
| 8/18/2022 | $49.00 → $47.00 | Neutral → Overweight | Piper Sandler |
| 8/1/2022 | $43.00 → $42.00 | Buy → Neutral | DA Davidson |
| 2/28/2022 | $49.00 | Outperform | Raymond James |
| 10/12/2021 | $49.00 → $52.00 | Overweight → Neutral | Piper Sandler |
SOUTHERN PINES, N.C., April 23, 2025 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported unaudited first quarter earnings today. The Company announced net income of $36.4 million, or $0.88 diluted earnings per share ("D-EPS"), for the three months ended March 31, 2025 compared to $3.6 million, or $0.08 D-EPS, for the three months ended December 31, 2024 ("linked quarter") and $25.3 million, or $0.61 D-EPS, for the first quarter of 2024 ("like quarter"). The Company continued its efforts to enhance net interest income and net interest margin. The Company recorded net interest income of $92.9 million for the first quarter of 2025, compared
SOUTHERN PINES, N.C., March 14, 2025 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on April 25, 2025 to shareholders of record as of March 31, 2025. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our Company had a strong fourth quarter performance with meaningful increases in adjusted net income and adjusted EPS while maintaining strong capital, liquidity and credit quality. We are pleased to continue distributing cash dividends to our shareholders, contributing to a valuable return on their investments." First Bancorp is
SOUTHERN PINES, N.C., Feb. 6, 2025 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ - FBNC), the parent company of First Bank (the "Bank"), today announced the promotion of G. Adam Currie from President to Chief Executive Officer (CEO) of the Bank. Currie will replace Michael G. Mayer, who will remain as President of First Bancorp until early 2026. "This transition is the culmination of a succession plan that has been in place for many years," said Richard H. Moore, Chief Executive Officer and Chairman of the Board of Directors of First Bancorp. "It is my privilege to hand over the reins to Adam at this stage of our Company's 90-year history. He has demonstrated his astute kn
SOUTHERN PINES, N.C., Jan. 29, 2025 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported unaudited fourth quarter and full year earnings today. The Company announced net income of $3.6 million, or $0.08 diluted earnings per share ("EPS"), for the three months ended December 31, 2024 compared to $18.7 million, or $0.45 diluted earnings per common share, for the three months ended September 30, 2024 ("linked quarter") and $29.7 million, or $0.72 diluted earnings per common share, for the fourth quarter of 2023 ("like quarter"). For the twelve months ended December 31, 2024, the Company recorded net income of $76.2 million, or $1.84 diluted
RALEIGH, N.C., Jan. 16, 2025 /PRNewswire/ -- First Bank, a leader in the banking industry in the Carolinas, is thrilled to join forces with the Carolina Hurricanes for an exciting new initiative: The Power of Good Goals. Every time the Canes score, First Bank will donate $100 to the Carolina Hurricanes Foundation, fueling their incredible work in the community. From youth hockey programs and educational support to health and wellness initiatives, this partnership will help the Foundation continue to make a difference for countless individuals across the region. "We are incredibly excited to be partnering with the Carolina Hurricanes Foundation," said Adam Currie, President of First Bank. "Th
SOUTHERN PINES, N.C., Dec. 17, 2024 /PRNewswire/ -- First Bank proudly continues its commitment to community with the successful completion of its 2nd annual companywide food drive. This year, employees, customers and friends from across the Carolinas and in over 110 First Bank locations joined forces to collect 21,750 pounds of food given to over 90 agencies and/or organizations for families in need throughout the community. In addition to addressing food insecurity, First Bank has awarded $319,229 in grants to local nonprofits and schools through the Power of Good Grants throughout 2024 with a total of over $640,000 in philanthropic giving, further solidifying its role as a vital partner i
SOUTHERN PINES, N.C., Dec. 13, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on January 25, 2025 to shareholders of record as of December 31, 2024. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our strong capital position allows us to continue to operate profitably and to distribute cash dividends providing our shareholders with a valuable return on their investments." First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.2 billion. Its principal activity is
SOUTHERN PINES, N.C., Oct. 23, 2024 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported third quarter earnings today. At the end of September, Hurricane Helene greatly impacted portions of our footprint in Western North Carolina and the upstate of South Carolina. We quickly initiated a response for our associates, customers and communities in these areas, and our most important priority was and continues to be making sure our people are taken care of during this difficult time. Our team rallied together to support our customers and the communities we serve. While some of our facilities suffered damage during the storm, we have worked
SOUTHERN PINES, N.C., Sept. 13, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on October 25, 2024 to shareholders of record as of September 30, 2024. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our company had a strong performance during the second quarter of 2024 with improved liquidity, solid capital growth and continued strong credit quality. We are pleased that our financial performance and capital position allow us to continue distributing the level of cash dividend providing our shareholders with a valuable re
SOUTHERN PINES, N.C., July 30, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company") announces the retirement of Mason Y. Garrett from the First Bancorp and First Bank Board of Directors (the "Board of Directors") effective July 26, 2024. Mr. Garrett was the Founder and Chairman of the Board of Directors of GrandSouth Bank and CEO of GrandSouth Bancorporation from 1998 until its merger with the Company in 2023, at which time he joined the Company's Board of Directors. He was a member of the Executive & Loan Committee of First Bank. Mr. Garrett has over 50 years of banking experience, including roles as President and Chief Executive Officer and Chairman of
Piper Sandler resumed coverage of First Bancorp with a rating of Neutral and set a new price target of $48.00
Stephens initiated coverage of First Bancorp with a rating of Overweight and set a new price target of $48.00
Janney downgraded First Bancorp from Buy to Neutral
DA Davidson upgraded First Bancorp from Neutral to Buy and set a new price target of $34.00 from $36.50 previously
Raymond James downgraded First Bancorp from Outperform to Mkt Perform
Piper Sandler upgraded First Bancorp from Neutral to Overweight and set a new price target of $47.00 from $49.00 previously
DA Davidson downgraded First Bancorp from Buy to Neutral and set a new price target of $42.00 from $43.00 previously
Raymond James resumed coverage of First Bancorp with a rating of Outperform and set a new price target of $49.00
Piper Sandler downgraded First Bancorp from Overweight to Neutral and set a new price target of $52.00 from $49.00 previously
Piper Sandler upgraded First Bancorp from Neutral to Overweight and set a new price target of $51.00 from $46.00 previously
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SOUTHERN PINES, N.C., Feb. 6, 2025 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ - FBNC), the parent company of First Bank (the "Bank"), today announced the promotion of G. Adam Currie from President to Chief Executive Officer (CEO) of the Bank. Currie will replace Michael G. Mayer, who will remain as President of First Bancorp until early 2026. "This transition is the culmination of a succession plan that has been in place for many years," said Richard H. Moore, Chief Executive Officer and Chairman of the Board of Directors of First Bancorp. "It is my privilege to hand over the reins to Adam at this stage of our Company's 90-year history. He has demonstrated his astute kn
RALEIGH, N.C., Jan. 16, 2025 /PRNewswire/ -- First Bank, a leader in the banking industry in the Carolinas, is thrilled to join forces with the Carolina Hurricanes for an exciting new initiative: The Power of Good Goals. Every time the Canes score, First Bank will donate $100 to the Carolina Hurricanes Foundation, fueling their incredible work in the community. From youth hockey programs and educational support to health and wellness initiatives, this partnership will help the Foundation continue to make a difference for countless individuals across the region. "We are incredibly excited to be partnering with the Carolina Hurricanes Foundation," said Adam Currie, President of First Bank. "Th
SOUTHERN PINES, N.C., July 30, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company") announces the retirement of Mason Y. Garrett from the First Bancorp and First Bank Board of Directors (the "Board of Directors") effective July 26, 2024. Mr. Garrett was the Founder and Chairman of the Board of Directors of GrandSouth Bank and CEO of GrandSouth Bancorporation from 1998 until its merger with the Company in 2023, at which time he joined the Company's Board of Directors. He was a member of the Executive & Loan Committee of First Bank. Mr. Garrett has over 50 years of banking experience, including roles as President and Chief Executive Officer and Chairman of
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10-K - FIRST BANCORP /NC/ (0000811589) (Filer)
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8-K - FIRST BANCORP /NC/ (0000811589) (Filer)
SOUTHERN PINES, N.C., April 23, 2025 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported unaudited first quarter earnings today. The Company announced net income of $36.4 million, or $0.88 diluted earnings per share ("D-EPS"), for the three months ended March 31, 2025 compared to $3.6 million, or $0.08 D-EPS, for the three months ended December 31, 2024 ("linked quarter") and $25.3 million, or $0.61 D-EPS, for the first quarter of 2024 ("like quarter"). The Company continued its efforts to enhance net interest income and net interest margin. The Company recorded net interest income of $92.9 million for the first quarter of 2025, compared
SOUTHERN PINES, N.C., March 14, 2025 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on April 25, 2025 to shareholders of record as of March 31, 2025. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our Company had a strong fourth quarter performance with meaningful increases in adjusted net income and adjusted EPS while maintaining strong capital, liquidity and credit quality. We are pleased to continue distributing cash dividends to our shareholders, contributing to a valuable return on their investments." First Bancorp is
SOUTHERN PINES, N.C., Jan. 29, 2025 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported unaudited fourth quarter and full year earnings today. The Company announced net income of $3.6 million, or $0.08 diluted earnings per share ("EPS"), for the three months ended December 31, 2024 compared to $18.7 million, or $0.45 diluted earnings per common share, for the three months ended September 30, 2024 ("linked quarter") and $29.7 million, or $0.72 diluted earnings per common share, for the fourth quarter of 2023 ("like quarter"). For the twelve months ended December 31, 2024, the Company recorded net income of $76.2 million, or $1.84 diluted
SOUTHERN PINES, N.C., Dec. 13, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on January 25, 2025 to shareholders of record as of December 31, 2024. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our strong capital position allows us to continue to operate profitably and to distribute cash dividends providing our shareholders with a valuable return on their investments." First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.2 billion. Its principal activity is
SOUTHERN PINES, N.C., Oct. 23, 2024 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, reported third quarter earnings today. At the end of September, Hurricane Helene greatly impacted portions of our footprint in Western North Carolina and the upstate of South Carolina. We quickly initiated a response for our associates, customers and communities in these areas, and our most important priority was and continues to be making sure our people are taken care of during this difficult time. Our team rallied together to support our customers and the communities we serve. While some of our facilities suffered damage during the storm, we have worked
SOUTHERN PINES, N.C., Sept. 13, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on October 25, 2024 to shareholders of record as of September 30, 2024. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Our company had a strong performance during the second quarter of 2024 with improved liquidity, solid capital growth and continued strong credit quality. We are pleased that our financial performance and capital position allow us to continue distributing the level of cash dividend providing our shareholders with a valuable re
SOUTHERN PINES, N.C., July 24, 2024 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, announced today net income of $28.7 million, or $0.70 per diluted common share, for the three months ended June 30, 2024 compared to $25.3 million, or $0.61 per diluted common share, for the three months ended March 31, 2024 ("linked quarter") and $29.4 million, or $0.71 per diluted common share, for the second quarter of 2023 ("like quarter"). For the six months ended June 30, 2024, the Company recorded net income of $54.0 million, or $1.31 per diluted common share, compared to $44.6 million, or $1.08 per diluted common share, for the six months ended June 30
SOUTHERN PINES, N.C., June 14, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on July 25, 2024 to shareholders of record as of June 30, 2024. Richard Moore, Chief Executive Officer of First Bancorp, stated, "Your company continued to perform well during the first quarter of 2024 with increases in our liquidity and capital along with strong credit quality. We are pleased that our financial performance and capital position allow us to continue distributing the level of cash dividend providing our shareholders with a valuable return on thei
SOUTHERN PINES, N.C., April 24, 2024 /PRNewswire/ -- First Bancorp (the "Company") (NASDAQ:FBNC), the parent company of First Bank, announced today net income of $25.3 million, or $0.61 per diluted common share, for the three months ended March 31, 2024 compared to $29.7 million, or $0.72 per diluted common share, for the three months ended December 31, 2023 ("linked quarter") and $15.2 million, or $0.37 per diluted common share, recorded in the first quarter of 2023. Richard H. Moore, CEO and Chairman of the Company, stated, "Your company continues to perform well with increases in our liquidity and capital. We believe that our balance sheet composition will continue to improve during the
SOUTHERN PINES, N.C., March 15, 2024 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ:FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on April 25, 2024 to shareholders of record as of March 31, 2024. Richard Moore, Chief Executive Officer of First Bancorp, stated, "2023 was a challenging year and your Company performed well, maintaining strong capital and liquidity despite the headwinds faced by the entire banking industry. We are pleased that our capital position allows us the opportunity to continue the level of cash dividend providing our shareholders with a valuable return on their investm