First Bancorp (FBNC)

First Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	441.18	418.85	278.19	219.01	213.1
Interest Income on Investments	78.06	70.09	62.93	36.91	24.59
Total Interest Income	519.24	488.94	341.12	255.92	237.68
Interest Paid on Deposits	172.09	114.87	11.35	7.88	16.3
Interest Paid on Borrowings	14.88	27.24	4.75	1.64	3.26
Total Interest Expense	186.97	142.1	16.1	9.52	19.56
Net Interest Income	332.27	346.84	325.02	246.4	218.12
Net Interest Income Growth (YoY)	-4.20%	6.72%	31.91%	12.96%	0.89%
Mortgage Banking Activities	2.29	1.61	2.1	10.98	14.18
Gain (Loss) on Sale of Investments	-37.98	-	-	-1.24	8.02
Other Non-Interest Income	33.34	36.4	35.33	44.23	40.07
Total Non-Interest Income	17.9	57.31	57.88	73.61	81.35
Non-Interest Income Growth (YoY)	-68.77%	-0.99%	-21.38%	-9.51%	36.65%
Revenues Before Loan Losses	350.17	404.15	382.89	320.01	299.47
Provision for Loan Losses	16.45	17.81	12.4	15.03	35.04
Revenue	333.72	386.34	370.49	304.98	264.43
Revenue Growth (YoY)	-13.62%	4.28%	21.48%	15.33%	-3.31%
Salaries and Employee Benefits	135.72	135.25	114.72	100.98	98.43
Occupancy Expenses	17.48	17.89	15.7	6.2	5.8
Amortization of Goodwill & Intangibles	6.6	8	3.68	3.53	3.96
Selling, General & Administrative	10.22	11.76	8.93	14.67	14.6
Other Non-Interest Expense	65.09	67.26	46.73	42.43	37.97
Total Non-Interest Expense	235.61	240.68	190.15	167.81	161.3
EBT Excluding Unusual Items	98.12	145.65	180.34	137.16	103.13
Pretax Income	98.12	131.96	185.22	120.32	103.13
Income Tax Expense	21.9	27.83	38.28	24.68	21.65
Net Income	76.22	104.13	146.94	95.64	81.48
Preferred Dividends & Other Adjustments	0.39	0.69	0.78	0.48	0.4
Net Income to Common	75.82	103.45	146.16	95.16	81.08
Net Income Growth	-26.81%	-29.13%	53.63%	17.39%	-11.48%
Basic Shares Outstanding	41	41	35	30	29
Diluted Shares Outstanding	41	41	36	30	29
Shares Change (YoY)	0.39%	15.39%	18.81%	3.61%	-2.49%
EPS (Basic)	1.85	2.54	4.12	3.19	2.81
EPS (Diluted)	1.84	2.53	4.12	3.19	2.81
EPS Growth	-27.10%	-38.58%	29.31%	13.30%	-9.22%
Dividend Per Share	0.880	0.880	0.880	0.800	0.720
Dividend Growth	-	-	10.00%	11.11%	33.33%
Effective Tax Rate	22.32%	21.09%	20.67%	20.51%	21.00%

Updated Feb 26, 2025. Source: S&P Global Market Intelligence. Banks template. Financial Sources.

SEC Filings: 10-K · 10-Q