First Bancorp (FBNC)

First Bancorp Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	441.16	418.67	278.03	219.01	213.1	220.78
Interest Income on Investments	72.26	70.09	62.93	36.91	24.59	29.32
Total Interest Income	513.42	488.76	340.96	255.92	237.68	250.11
Interest Paid on Deposits	166.28	114.87	11.35	7.88	16.3	25.05
Interest Paid on Borrowings	21.22	27.24	4.75	1.64	3.26	8.85
Total Interest Expense	187.5	142.1	16.1	9.52	19.56	33.9
Net Interest Income	325.92	346.66	324.85	246.4	218.12	216.2
Net Interest Income Growth (YoY)	-6.49%	6.71%	31.84%	12.96%	0.89%	4.23%
Mortgage Banking Activities	1.94	1.61	2.1	10.98	14.18	3.94
Gain (Loss) on Sale of Investments	-1.16	-	-	-1.24	8.02	0.1
Other Non-Interest Income	36.82	36.59	37.94	44.23	40.07	34.24
Total Non-Interest Income	55.62	57.49	60.65	73.61	81.35	59.53
Non-Interest Income Growth (YoY)	-0.90%	-5.20%	-17.61%	-9.51%	36.65%	1.00%
Revenues Before Loan Losses	381.53	404.15	385.5	320.01	299.47	275.73
Provision for Loan Losses	18.89	17.81	12.4	15.03	35.04	2.26
Revenue	362.64	386.34	373.1	304.98	264.43	273.47
Revenue Growth (YoY)	-5.76%	3.55%	22.34%	15.33%	-3.31%	1.30%
Salaries and Employee Benefits	134.15	135.25	114.72	100.98	98.43	93.7
Occupancy Expenses	7.79	7.8	6.9	6.2	5.8	8.52
Amortization of Goodwill & Intangibles	6.9	8	3.68	3.53	3.96	4.86
Selling, General & Administrative	20.58	21.85	17.74	14.67	14.6	13.01
Other Non-Interest Expense	63.59	67.26	46.73	42.43	37.97	35.97
Total Non-Interest Expense	233.53	240.68	190.15	167.81	161.3	157
EBT Excluding Unusual Items	129.12	145.65	182.95	137.16	103.13	116.47
Pretax Income	128.93	131.96	185.22	120.32	103.13	116.28
Income Tax Expense	26.59	27.83	38.28	24.68	21.65	24.23
Net Income	102.34	104.13	146.94	95.64	81.48	92.05
Preferred Dividends & Other Adjustments	0.62	0.69	0.78	0.48	0.4	0.45
Net Income to Common	101.72	103.45	146.16	95.16	81.08	91.6
Net Income Growth	-9.35%	-29.13%	53.63%	17.39%	-11.48%	3.09%
Basic Shares Outstanding	41	41	35	30	29	30
Diluted Shares Outstanding	41	41	36	30	29	30
Shares Change (YoY)	3.73%	15.39%	18.81%	3.61%	-2.49%	0.04%
EPS (Basic)	2.49	2.54	4.12	3.19	2.81	3.10
EPS (Diluted)	2.48	2.53	4.12	3.19	2.81	3.10
EPS Growth	-12.60%	-38.58%	29.31%	13.30%	-9.23%	2.89%
Dividend Per Share	0.880	0.880	0.880	0.800	0.720	0.540
Dividend Growth	0%	0%	10.00%	11.11%	33.33%	35.00%
Effective Tax Rate	20.62%	21.09%	20.67%	20.51%	21.00%	20.84%

Source: S&P Capital IQ. Banks template. Financial Sources.