First Bancorp

Description

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. The company accepts deposit products, such as checking, savings, and money market accounts, as well as time deposits, including certificate of deposits and individual retirement accounts. It 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; and accounts receivable financing and factoring, inventory financing, and purchase order financing services. In addition, the company 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, it 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. The company was founded in 1934 and is headquartered in Southern Pines, North Carolina.

About

CEO
Mr. Richard Hancock Moore
Employees
1,396
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNGS
Address
300 SW Broad Street, Southern Pines, NC 28387, United States
Phone
910 246 2500
Website
Chart Image
× Enlarged Chart
Oscillators
No data available
Summary
No data available
Moving Averages
No data available

Earnings

Date Estimate EPS Actual EPS Difference % Surprise
Jan 21, 2026
Oct 21, 2025
Jul 22, 2025
Apr 22, 2025
Jan 30, 2025 0.72 0.76 0.04 5.56%

Earnings estimate

Current Quarter
(Mar 2025)
Next Quarter
(Jun 2025)
Current Year
(Dec 2025)
Next Year
(Dec 2026)
Number of analysts 2 2 2 3
Average estimate 0.81 0.83 3.37 3.44
Low estimate 0.78 0.81 3.29 3.08
High estimate 0.83 0.84 3.45 3.70
Last year EPS 0.61 0.70 2.77 3.37
[stock_revenue_estimate]

Growth estimates

Current qtr (Mar 2025)
31.970%
Next qtr. (Jun 2025)
17.860%
Current year (Dec 2025)
21.660%
Next year (Dec 2026)
1.980%
Next 5 years (per annum)
Past 5 years (per annum)

Analyst Ratings

Date Firm Action Rating Price Target
Dec 4, 2024
Keefe, Bruyette & Woods
Wood Lay
Maintains Outperform ▲ Raises $49 → $56
Jul 25, 2024
Keefe, Bruyette & Woods
Wood Lay
Maintains Outperform ▲ Raises $40 → $45
Oct 26, 2023
Piper Sandler
Stephen Scouten
Maintains Overweight ▼ Lowers $34 → $32
Sep 14, 2023
DA Davidson
Kevin Fitzsimmons
Upgrade Buy ▼ Lowers $36.5 → $34
Jul 31, 2023
Raymond James
Downgrade Market Perform
Jul 27, 2023
Keefe, Bruyette & Woods
Maintains Outperform
May 1, 2023
Raymond James
Daniel Tamayo
Maintains Outperform ▼ Lowers $43 → $36
Apr 27, 2023
Keefe, Bruyette & Woods
Brady Gailey
Maintains Outperform ▼ Lowers $46 → $42
Apr 27, 2023
Piper Sandler
Stephen Scouten
Maintains Overweight ▼ Lowers $44 → $39
Apr 6, 2023
Raymond James
Daniel Tamayo
Maintains Outperform ▼ Lowers $45 → $43
Jan 30, 2023
Raymond James
Daniel Tamayo
Maintains Market Outperform ▼ Lowers $49 → $45
Jan 26, 2023
Piper Sandler
Stephen Scouten
Maintains Overweight ▼ Lowers $49 → $45
Oct 31, 2022
Raymond James
Daniel Tamayo
Maintains Outperform ▲ Raises $41 → $49
Oct 6, 2022
Raymond James
David Long
Maintains Outperform ▼ Lowers $43 → $41
Aug 18, 2022
Piper Sandler
Stephen Scouten
Upgrade Overweight ▼ Lowers $49 → $47
Aug 1, 2022
DA Davidson
Kevin Fitzsimmons
Downgrade Neutral ▼ Lowers $43 → $42
Aug 1, 2022
Raymond James
Daniel Tamayo
Maintains Outperform ▲ Raises $40 → $43
Jun 23, 2022
Raymond James
Daniel Tamayo
Maintains Outperform ▼ Lowers $44 → $40
May 2, 2022
Raymond James
Daniel Tamayo
Maintains Outperform ▼ Lowers $49 → $44
Feb 28, 2022
Raymond James
Initiates Outperform
Oct 12, 2021
Piper Sandler
Stephen Scouten
Downgrade Neutral ▲ Raises $49 → $52
Jun 16, 2021
Piper Sandler
Stephen Scouten
Upgrade Overweight ▲ Raises $46 → $51
Jul 24, 2020
Piper Sandler
Maintains Neutral ▼ Lowers $26 → $25
Jun 19, 2020
DA Davidson
Downgrade Neutral
Jun 18, 2020
Piper Sandler
Stephen Scouten
Downgrade Neutral ▼ Lowers $32 → $26
Feb 28, 2020
DA Davidson
Initiates Buy
Apr 25, 2019
Gabelli & Co.
Upgrade Buy
Mar 25, 2019
Piper Sandler
Upgrade Buy
Mar 25, 2019
Sandler O'Neill
Upgrade Buy
Jul 27, 2018
Piper Sandler
Peyton Green
Maintains Overweight ▲ Raises $44 → $46

Income statement

2023 2022 2021 2020 2019
Fiscal date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total reported revenue 404.30M 393.21M 319.98M 298.92M 274.79M
Cost of revenue
Gross profit
Operating expense
Research & development
Selling general and admin 153.16M 125.61M 109.82M 100.97M 95.97M
Other operating expenses
Operating income
Non operating interest income
Income
Expense
Other income expense
Pretax income 131.96M 185.22M 120.32M 103.13M 116.28M
Tax provision 27.83M 38.28M 24.68M 21.65M 24.23M
Net income 104.13M 146.94M 95.64M 81.48M 92.05M
Basic EPS 2.54 4.12 2.68 2.85 3.11
Diluted EPS 2.53 4.12 2.68 2.81 3.10
Basic average shares 40.75M 35.70M 35.63M 28.58M 29.60M
Diluted average shares 40.75M 35.70M 35.63M 28.58M 29.60M
EBITDA
Net income from continuing op. 104.13M 146.94M 95.64M 81.48M 92.05M
Minority interests
Preferred stock dividends 685,000 779,000 483,000 398,000 450,000

Balance sheet

2023 2022 2021 2020 2019
Fiscal date 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31
Total assets
Current assets
Cash 100.89M 101.13M 128.23M 93.72M 64.52M
Cash equivalents
Cash and cash equivalents 237.86M 270.32M 461.16M 367.29M 231.30M
Other short term investments 2.19B 2.31B 2.63B 1.45B 821.95M
Accounts receivable 37.35M 29.71M 25.90M 20.27M 16.65M
Other receivables
Inventory
Prepaid assets
Restricted cash
Assets held for sale
Hedging assets
Other current assets
Non current assets
Properties 19.45M 19.96M 20.72M 17.51M 19.67M
Land and improvements 52.44M 45.36M 45.40M 38.58M 38.16M
Machinery furniture equipment 35.21M 31.92M 31.10M 30.10M 33.11M
Construction in progress
Leases 1.64M 1.64M 2.03M 3.05M 2.20M
Accumulated depreciation -68.71M -60.85M -55.06M -54.47M -52.35M
Goodwill 990.36M 741.20M 746.35M 493.91M 485.95M
Investment properties
Financial assets
Intangible assets 32.86M 12.68M 17.83M 15.37M 17.22M
Investments and advances 2.72B 2.86B 3.14B 1.62B 889.88M
Other non current assets
Total liabilities
Current liabilities
Accounts payable 5.70M 2.74M 607,000 904,000 2.15M
Accrued expenses
Short term debt 238.00M
Deferred revenue
Tax payable
Pensions
Other current liabilities
Non current liabilities
Long term debt 570.67M 237.82M 19.50M 22.99M 263.82M
Provision for risks and charges
Deferred liabilities
Derivative product liabilities
Other non current liabilities
Shareholders equity
Common stock 963.99M 725.15M 722.67M 400.58M 429.51M
Retained earnings 716.42M 648.42M 532.87M 478.49M 417.76M
Other shareholders equity -308.03M -341.98M -24.97M 14.35M 5.12M
Total shareholders equity 1.37B 1.03B 1.23B 893.42M 852.40M
Additional paid in capital
Treasury stock 1.39M 1.59M 1.80M 2.24M 2.59M
Minority interest

Cash flow statement

202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997199619951994199319921991
Operating Activities
Net Income104.13M146.94M95.64M81.48M92.05M89.29M45.97M27.51M27.03M25.00M20.70M-23.41M13.64M9.98M60.26M22.01M21.81M19.30M16.09M20.11M19.42M17.23M13.62M9.34M11.85M10.97M5.00M4.30M1.60M3.00M2.70M2.50M2.00M
Depreciation19.21M15.33M13.93M13.60M13.89M12.84M9.73M5.81M5.22M5.40M5.48M5.45M5.29M4.87M630,0003.88M3.66M3.28M3.09M2.69M2.82M2.15M3.01M1.85M1.75M1.52M1.30M1.30M1.10M1.10M1.00M1.10M700,000
Deferred Taxes-782,000-1.81M-4.80M-10.01M1.59M20.06M-1.37M-422,000-1.34M-156,000-217,000425,000-322,000-51,000-546,000-183,000192,000-100,000300,000-200,000400,000100,000-100,000
Stock-Based Compensation5.13M2.98M2.27M2.54M2.27M1.57M1.10M714,000710,000270,000222,000311,000905,000640,000449,000143,000190,000
Other Non-Cash Items-20.94M54.59M17.78M-43.75M-40.50M-31.32M-11.63M10.36M14.76M19.19M1.36M26.42M25.58M34.86M-99.68M57,0002.98M5.69M3.10M2.72M21.00M3.09M1.11M1.77M4.70M8.23M700,000200,0001.00M500,000700,000600,0001.10M
Accounts Receivable-1.90M-3.81M-773,000-3.62M-644,000-1.91M-1.07M-120,000-246,000729,000552,0001.58M1.80M1.20M1.10M1.29M-803,000
Accounts Payable2.58M2.13M-683,000-1.25M178,000741,000392,000-4,000-101,000-193,000-447,000-577,000-210,000-972,000-3.71M-1.24M361,000
Other Assets & Liabilities11.49M3.34M17.81M10.07M-3.56M-2.17M-4.01M2.14M-5.28M4.84M26.34M-22.21M-30.43M-31.94M4.95M-143,000-2.02M
Operating Cash Flow118.91M219.69M141.17M49.06M65.26M69.04M40.48M46.42M42.09M55.23M54.21M-12.43M16.58M18.64M-15.95M24.63M25.76M26.93M22.12M25.31M43.67M22.14M17.68M12.42M18.12M20.91M6.90M6.10M3.50M5.00M4.50M4.20M3.70M
Investing Activities
Capital Expenditures-3.45M-4.99M-9.09M-12.17M-1.74M-7.97M-4.51M-6.66M-3.86M-3.44M-6.29M-8.95M-6.61M-17.54M-1.21M-5.38M-5.79M-10.87M-7.21M-7.34M-3.67M-5.64M-3.22M-3.31M-2.58M-1.54M-1.80M-600,000-1.30M-200,000-1.20M-200,000-1.00M
Net Intangibles
Net Acquisitions22.61M208.99M-9.56M72.52M-27.43M38.32M9.31M54.04M-171,00091.70M2.46M-2.82M79.82M
Purchase of Investments-10.92M-401.76M-1.85B-1.19B-498.89M-230.79M-191.55M-114.40M-96.68M-191.64M-65.73M-92.06M-80.02M-121.74M-123.20M-160.92M-95.16M-67.12M-55.64M-31.06M-73.98M-12.98M-39.75M-22.14M-81.89M-74.94M-39.70M-46.20M-28.00M-38.80M-30.70M-36.30M-25.80M
Sale of Investments280.67M257.81M478.39M476.57M231.18M77.05M200.94M100.32M109.44M78.26M53.63M107.37M79.19M99.89M136.58M141.10M87.78M49.40M27.90M46.77M50.51M45.18M54.16M72.29M52.15M95.53M44.90M39.20M30.00M36.80M33.30M27.80M20.50M
Investing Cash Flow275.12M-154.96M-1.18B-727.75M-259.48M-160.31M76.10M-47.72M348,000-77.96M146.48M95.44M159.35M32.03M145.76M-19.74M-11.65M-249.72M-154.74M-142.68M-117.37M-76.14M60.90M-70.61M-112.45M-73.40M-42.20M-22.90M-15.40M-6.80M-12.80M-7.00M-11.40M
Financing Activities
Long-Term Debt Issuance3.35B1.25B150.00M50.00M110.00M84.56M32.38M109.77M8.00M15.00M44.00M15.00M
Long-Term Debt Payments-3.04B-1.03B-5.73M-400.04M-106.12M-101.12M-105.74M-349.47M
Other Financing Charges-743,000-840,000-786,000-307,000-702,000-406,000-231,000-166,000-54,000-924,00073,00065,00041,000117,000100,000-100,000-100,000100,000
Financing Cash Flow267.33M408.37M-32.78M-501.15M-185.48M-12.80M89.44M-6.80M-70.66M-7.10M-7.51M25.55M-76.89M12.63M-642.26M74.85M21.54M99.47M-1.76M5.86M35.33M6.86M-32.63M-42.62M50.88M-19.23M-1.50M-1.30M-1.10M-1.00M-900,000-500,000-500,000
Other Cash Details
End Cash Position237.86M270.32M461.16M367.29M231.30M462.90M489.49M305.99M267.27M253.08M223.27M241.51M216.17M212.00M350.87M224.78M166.60M146.67M103.52M89.40M62.91M73.65M86.82M30.44M58.34M51.05M33.60M
Income Tax Paid29.73M39.72M32.51M29.60M24.34M21.16M19.54M11.79M13.82M5.10M1.08M14.29M14.89M16.31M16.47M15.32M17.08M
Interest Paid135.70M14.31M10.21M20.81M33.73M23.04M12.24M7.65M7.01M8.42M11.41M17.89M23.78M32.88M52.60M62.54M69.30M
Free Cash Flow126.98M225.37M132.93M45.97M47.70M35.69M22.18M32.58M31.87M43.07M65.59M32.73M30.44M46.57M9.73M28.92M24.78M14.19M21.69M20.55M37.80M5.44M8.80M10.83M16.97M18.97M5.60M6.70M5.50M4.10M3.60M4.30M2.50M
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First Bank Appoints New Chief Executive Officer Article
First Bank Appoints New Chief Executive Officer
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.
PRNewsWire Neutral
Feb 6, 2025
First Bancorp (FBNC) Upgraded to Buy: What Does It Mean for the Stock? Article
First Bancorp (FBNC) Upgraded to Buy: What Does It Mean for the Stock?
First Bancorp (FBNC) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Zacks Investment Research Positive
Jan 31, 2025
First Bancorp (FBNC) Q4 Earnings and Revenues Surpass Estimates Article
First Bancorp (FBNC) Q4 Earnings and Revenues Surpass Estimates
First Bancorp (FBNC) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.72 per share. This compares to earnings of $0.72 per share a year ago.
Zacks Investment Research Positive
Jan 30, 2025
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