First Bancorp (FBNC) Financials

$46.32 -2.97 (-6.03%)

Closing price 04:00 PM Eastern

Extended Trading

$46.32 0.00 (0.00%)

As of 04:10 PM Eastern

Annual Income Statements for First Bancorp

This table shows First Bancorp's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	24	26	27	46	89	92	81	96	147	104	76
Consolidated Net Income / (Loss)	25	27	28	46	89	92	81	96	147	104	76
Net Income / (Loss) Continuing Operations	25	27	28	46	89	92	81	96	147	104	76
Total Pre-Tax Income	39	41	42	68	113	116	103	120	185	132	98
Total Revenue	146	139	149	214	266	276	299	320	393	404	350
Net Interest Income / (Expense)	132	120	123	165	207	216	218	246	325	347	332
Total Interest Income	140	127	131	177	231	250	238	256	341	489	519
Loans and Leases Interest Income	134	118	121	164	209	221	213	219	278	419	441
Investment Securities Interest Income	5.34	8.13	7.91	8.68	12	21	21	34	58	57	52
Federal Funds Sold and Securities Borrowed Interest Income	0.85	0.66	1.76	4.96	10	8.44	3.43	2.43	5.01	13	26
Total Interest Expense	8.22	6.91	7.61	13	24	34	20	9.52	16	142	187
Deposits Interest Expense	7.07	5.32	5.17	7.54	14	25	16	7.88	11	115	172
Long-Term Debt Interest Expense	1.15	1.59	2.44	5.13	9.29	8.85	3.26	1.64	4.75	27	15
Total Non-Interest Income	14	19	26	49	59	60	81	74	68	57	18
Service Charges on Deposit Accounts	-	-	-	12	13	13	11	12	15	17	17
Other Service Charges	29	28	32	25	28	36	43	40	34	29	30
Net Realized & Unrealized Capital Gains on Investments	-3.29	-1.95	2.25	5.63	11	8.20	16	19	15	6.95	-33
Other Non-Interest Income	-12	-6.95	-8.20	6.35	7.21	2.56	11	2.89	3.85	4.35	4.77
Provision for Credit Losses	10	-0.78	-0.02	0.72	-3.59	2.26	35	15	12	18	16
Total Non-Interest Expense	97	98	107	145	156	157	161	185	195	254	236
Salaries and Employee Benefits	46	48	51	67	92	96	101	103	118	140	140
Net Occupancy & Equipment Expense	11	11	11	14	16	16	16	16	19	21	20
Other Operating Expenses	39	39	41	52	39	39	40	45	50	72	69
Amortization Expense	0.78	0.72	1.21	4.03	5.92	4.86	3.96	3.53	3.68	8.00	6.60
Restructuring Charge	0.00	0.00	1.43	8.07	2.36	0.19	0.00	17	5.07	14	0.00
Income Tax Expense	14	14	15	22	24	24	22	25	38	28	22
Basic Earnings per Share	$1.22	$1.34	$1.37	$1.82	$3.02	$3.10	$2.81	$3.19	$4.12	$2.54	$1.85
Weighted Average Basic Shares Outstanding	19.70M	19.77M	19.96M	25.21M	29.57M	29.55M	28.84M	29.88M	35.49M	40.75M	41.02M
Diluted Earnings per Share	$1.19	$1.30	$1.33	$1.82	$3.01	$3.10	$2.81	$3.19	$4.12	$2.53	$1.84
Weighted Average Diluted Shares Outstanding	20.43M	20.50M	20.73M	25.29M	29.71M	29.72M	28.98M	30.03M	35.67M	41.16M	41.33M
Weighted Average Basic & Diluted Shares Outstanding	19.80M	19.70M	20M	25.30M	29.60M	29.21M	28.49M	35.65M	40.88M	41.13M	41.36M
Cash Dividends to Common per Share	$0.32	$0.32	$0.32	$0.32	$0.40	$0.54	$0.72	$0.80	$0.88	$0.88	$0.88

This table shows First Bancorp's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	38	38	15	29	30	30	25	29	19	3.55
Consolidated Net Income / (Loss)	38	38	15	29	30	30	25	29	19	3.55
Net Income / (Loss) Continuing Operations	38	38	15	29	30	30	25	29	19	3.55
Total Pre-Tax Income	48	48	19	37	38	38	32	37	23	6.88
Total Revenue	102	99	106	101	100	97	92	96	97	66
Net Interest Income / (Expense)	85	85	92	87	85	83	79	81	83	89
Total Interest Income	88	93	117	121	124	127	127	129	131	132
Loans and Leases Interest Income	72	77	99	103	107	110	110	110	111	110
Investment Securities Interest Income	15	15	15	14	14	14	14	12	12	14
Federal Funds Sold and Securities Borrowed Interest Income	1.49	1.99	3.25	4.02	3.28	2.78	2.97	5.94	8.44	8.73
Total Interest Expense	2.96	8.74	25	34	39	44	47	48	48	44
Deposits Interest Expense	1.85	6.15	19	27	33	36	39	45	46	42
Long-Term Debt Interest Expense	1.11	2.59	5.77	6.85	6.51	8.11	8.21	2.96	1.95	1.77
Total Non-Interest Income	17	14	14	14	15	14	13	15	14	-23
Service Charges on Deposit Accounts	4.17	3.96	3.89	4.11	4.66	4.13	3.87	4.14	4.32	4.29
Other Service Charges	8.08	5.46	8.15	7.62	6.98	6.45	7.53	7.33	7.62	7.36
Net Realized & Unrealized Capital Gains on Investments	3.23	4.48	0.44	1.44	2.43	2.65	0.38	2.00	0.44	-36
Other Non-Interest Income	1.44	0.49	1.05	1.07	1.10	1.13	1.16	1.18	1.21	1.23
Provision for Credit Losses	5.10	5.30	13	2.36	0.00	2.95	1.20	0.54	14	0.51
Total Non-Interest Expense	49	46	74	62	62	56	59	58	60	58
Salaries and Employee Benefits	29	30	36	35	36	33	34	35	36	35
Net Occupancy & Equipment Expense	4.85	4.43	5.07	4.97	5.00	5.95	5.59	4.85	4.86	4.69
Other Operating Expenses	14	9.71	19	18	19	15	18	17	17	17
Amortization Expense	0.89	0.83	2.15	2.05	1.95	1.86	1.76	1.67	1.61	1.56
Income Tax Expense	10	9.84	4.18	7.86	7.76	8.02	6.51	8.17	3.89	3.33
Basic Earnings per Share	$1.06	$1.08	$0.37	$0.72	$0.73	$0.72	$0.61	$0.70	$0.45	$0.09
Weighted Average Basic Shares Outstanding	35.47M	35.49M	40.58M	40.72M	40.74M	40.75M	40.84M	40.88M	40.97M	41.02M
Diluted Earnings per Share	$1.06	$1.08	$0.37	$0.71	$0.73	$0.72	$0.61	$0.70	$0.45	$0.08
Weighted Average Diluted Shares Outstanding	35.70M	35.67M	41.11M	41.13M	41.20M	41.16M	41.25M	41.26M	41.37M	41.33M
Weighted Average Basic & Diluted Shares Outstanding	35.71M	40.88M	40.99M	41.08M	41.09M	41.13M	41.17M	41.28M	41.34M	41.36M

This table details how cash moves in and out of First Bancorp's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	30	14	39	183	-30	-232	136	94	-191	-32	270
Net Cash From Operating Activities	48	37	41	27	46	51	58	142	231	131	175
Net Cash From Continuing Operating Activities	48	37	41	27	43	51	58	142	231	131	175
Net Income / (Loss) Continuing Operations	25	27	28	46	89	92	81	96	147	104	76
Consolidated Net Income / (Loss)	25	27	28	46	89	92	81	96	147	104	76
Provision For Loan Losses	10	-0.78	-0.02	0.72	-3.59	2.26	35	15	12	18	16
Depreciation Expense	4.62	4.49	4.60	5.49	6.08	5.84	5.84	6.19	6.86	7.75	7.76
Amortization Expense	-13	-0.78	0.10	7.15	9.32	11	13	20	20	20	20
Non-Cash Adjustments to Reconcile Net Income	16	13	-14	-29	-51	-53	-86	-11	46	-27	62
Changes in Operating Assets and Liabilities, net	5.36	-5.56	23	-3.71	-4.02	-6.34	8.99	16	-1.95	9.39	-7.78
Net Cash From Investing Activities	-26	-138	-240	-129	-313	-425	-962	-1,274	-713	-191	170
Net Cash From Continuing Investing Activities	-26	-138	-240	-129	-313	-425	-962	-1,274	-713	-191	170
Purchase of Property, Leasehold Improvements and Equipment	-4.75	-5.48	-8.69	-4.66	-11	-3.53	-12	-9.40	-5.29	-4.42	-2.66
Purchase of Investment Securities	-202	-250	-366	-406	-390	-664	-1,438	-1,761	-1,008	-541	-524
Sale of Property, Leasehold Improvements and Equipment	1.31	1.62	2.03	0.15	2.75	1.80	0.19	0.31	0.30	0.97	1.34
Sale and/or Maturity of Investments	181	126	134	210	85	237	479	485	300	353	690
Other Investing Activities, net	-2.12	-9.88	-2.01	-	0.00	4.09	9.85	-	0.00	0.00	4.52
Net Cash From Financing Activities	7.79	115	238	285	240	142	1,039	1,225	292	28	-75
Net Cash From Continuing Financing Activities	7.79	115	238	285	240	142	1,039	1,225	292	28	-75
Net Change in Deposits	-55	115	159	195	253	272	1,342	1,258	103	-244	498
Issuance of Debt	70	70	85	203	100	0.00	-48	0.00	1,252	3,348	986
Repayment of Debt	-	-	-	-106	-101	-106	-202	-5.73	-1,032	-3,045	-1,525
Payment of Dividends	-7.17	-7.11	-6.63	-7.60	-11	-14	-21	-22	-31	-35	-36
Other Financing Activities, Net	0.07	0.06	0.21	0.06	-0.08	-0.57	-0.31	-0.79	-0.84	3.78	2.40
Cash Interest Paid	8.42	7.01	7.65	12	23	34	21	10	14	136	187
Cash Income Taxes Paid	5.10	14	12	20	21	24	30	33	40	30	34

This table details how cash moves in and out of First Bancorp's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Net Change in Cash & Equivalents	-165	0.80	443	-353	-87	-36	116	255	136	-237
Net Cash From Operating Activities	49	51	37	29	28	38	-20	88	38	69
Net Cash From Continuing Operating Activities	49	51	37	29	28	38	-20	88	38	69
Net Income / (Loss) Continuing Operations	38	38	15	29	30	30	25	29	19	3.55
Consolidated Net Income / (Loss)	38	38	15	29	30	30	25	29	19	3.55
Provision For Loan Losses	5.40	5.00	13	2.36	0.00	2.95	1.20	0.54	14	0.51
Depreciation Expense	1.72	1.71	1.92	1.86	1.81	2.17	2.02	2.01	1.86	1.88
Amortization Expense	4.87	4.49	5.12	4.80	4.73	4.92	4.93	3.94	4.56	6.91
Non-Cash Adjustments to Reconcile Net Income	-5.83	0.81	-8.69	-5.27	-13	-0.32	-4.49	2.62	1.61	62
Changes in Operating Assets and Liabilities, net	4.59	1.00	11	-4.61	4.63	-1.23	-49	50	-2.48	-6.17
Net Cash From Investing Activities	-234	-102	32	-43	-92	-89	171	232	88	-322
Net Cash From Continuing Investing Activities	-234	-102	32	-43	-92	-89	171	232	88	-322
Purchase of Property, Leasehold Improvements and Equipment	-1.05	-1.54	-0.35	-1.51	-1.35	-1.22	-1.64	-0.08	-0.44	-0.50
Purchase of Investment Securities	-285	-178	-154	-101	-139	-147	56	2.26	25	-608
Sale of Property, Leasehold Improvements and Equipment	-0.20	0.14	0.02	0.03	0.01	0.91	0.01	-	0.74	0.59
Sale and/or Maturity of Investments	53	78	187	60	48	59	117	226	62	286
Net Cash From Financing Activities	21	51	374	-339	-23	15	-35	-65	9.70	16
Net Cash From Continuing Financing Activities	21	51	374	-339	-23	15	-35	-65	9.70	16
Net Change in Deposits	-130	-1.67	99	-205	66	-204	271	184	17	25
Repayment of Debt	-169	-863	-649	-421	-521	-1,455	-779	-241	-505	-0.01
Payment of Dividends	-7.85	-7.85	-7.85	-9.02	-9.04	-9.04	-9.04	-9.05	-9.06	-9.10
Other Financing Activities, Net	-	-0.24	3.22	0.30	0.07	0.19	0.60	0.38	1.85	-0.42
Cash Interest Paid	2.78	6.89	19	35	38	43	43	52	48	44
Cash Income Taxes Paid	13	11	0.05	13	8.94	7.88	0.02	14	12	7.42

This table presents First Bancorp's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	3,218	3,362	3,615	5,547	5,864	6,144	7,290	10,509	10,625	12,115	12,148
Cash and Due from Banks	81	53	72	114	56	65	94	128	101	101	79
Interest Bearing Deposits at Other Banks	171	213	234	375	407	167	274	333	169	137	429
Trading Account Securities	337	320	329	462	603	890	1,621	3,144	2,856	2,723	2,563
Loans and Leases, Net of Allowance	2,356	2,490	2,687	4,019	4,228	4,432	4,679	6,003	6,574	8,040	7,972
Loans and Leases	2,396	2,519	2,711	4,042	4,249	4,453	4,731	6,082	6,665	8,150	8,095
Allowance for Loan and Lease Losses	41	29	24	23	21	21	52	79	91	110	123
Premises and Equipment, Net	75	75	75	116	119	115	121	136	134	151	143
Goodwill	66	66	75	233	234	234	239	364	364	479	479
Intangible Assets	2.06	1.34	4.43	24	21	17	15	18	13	30	23
Other Assets	124	138	136	191	196	224	242	321	413	455	460
Total Liabilities & Shareholders' Equity	3,218	3,362	3,615	5,547	5,864	6,144	7,290	10,509	10,625	12,115	12,148
Total Liabilities	2,831	3,020	3,247	4,854	5,100	5,291	6,396	9,278	9,593	10,743	10,702
Non-Interest Bearing Deposits	560	659	756	1,196	1,320	1,516	2,210	3,349	3,566	3,380	3,368
Interest Bearing Deposits	2,136	2,152	2,191	3,211	3,339	3,415	4,064	5,776	5,662	6,652	7,163
Accrued Interest Payable	0.69	0.59	0.54	1.24	1.98	2.15	0.90	0.61	2.74	5.70	4.60
Long-Term Debt	-	-	-	-	-	301	62	67	288	630	92
Other Long-Term Liabilities	18	22	27	38	32	57	60	86	76	75	75
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	388	342	368	693	764	852	893	1,231	1,032	1,372	1,446
Total Preferred & Common Equity	388	342	368	693	764	852	893	1,231	1,032	1,372	1,446
Preferred Stock	71	7.29	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	317	335	368	693	764	852	893	1,231	1,032	1,372	1,446
Common Stock	133	133	147	429	431	427	398	721	724	963	970
Retained Earnings	185	205	226	264	342	418	478	533	648	716	756
Accumulated Other Comprehensive Income / (Loss)	-0.58	-3.55	-5.11	-4.15	-12	5.12	14	-25	-342	-308	-282
Other Equity Adjustments	-	-	0.00	3.58	3.24	2.59	2.24	1.80	1.59	1.39	1.15

This table presents First Bancorp's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024
Total Assets	10,516	12,363	12,033	11,978	12,092	12,061	12,153
Cash and Due from Banks	83	103	101	95	87	90	74
Interest Bearing Deposits at Other Banks	186	611	259	178	267	518	670
Trading Account Securities	2,882	2,830	2,758	2,636	2,614	2,391	2,429
Loans and Leases, Net of Allowance	6,439	7,693	7,788	7,919	7,966	7,960	7,891
Loans and Leases	6,525	7,799	7,898	8,027	8,077	8,070	8,014
Allowance for Loan and Lease Losses	87	106	109	108	110	110	123
Premises and Equipment, Net	134	153	152	152	151	147	145
Goodwill	364	479	479	479	479	479	479
Intangible Assets	14	39	37	35	31	26	24
Other Assets	412	8,146	458	476	490	443	431
Total Liabilities & Shareholders' Equity	10,516	12,363	12,033	11,978	12,092	12,061	12,153
Total Liabilities	9,531	11,063	10,735	10,720	10,715	10,656	10,676
Non-Interest Bearing Deposits	3,748	3,764	3,640	3,503	3,362	3,340	3,350
Interest Bearing Deposits	5,481	6,609	6,529	6,732	6,941	7,148	7,155
Accrued Interest Payable	0.88	6.99	4.85	5.51	9.85	5.73	5.57
Long-Term Debt	226	606	482	402	332	92	92
Other Long-Term Liabilities	75	77	80	78	70	71	74
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	984	1,300	1,298	1,258	1,376	1,404	1,478
Total Preferred & Common Equity	984	1,300	1,298	1,258	1,376	1,404	1,478
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	984	1,300	1,298	1,258	1,376	1,404	1,478
Common Stock	723	958	959	961	964	966	969
Retained Earnings	618	655	675	696	733	752	762
Accumulated Other Comprehensive Income / (Loss)	-358	-314	-338	-401	-322	-315	-255
Other Equity Adjustments	1.59	1.61	1.37	1.38	1.40	1.14	1.15

This table displays calculated financial ratios and metrics derived from First Bancorp's official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-8.77%	-5.11%	7.52%	43.65%	24.51%	3.51%	8.61%	6.86%	22.76%	2.88%	-13.36%
EBITDA Growth	17.28%	50.32%	4.38%	71.62%	60.34%	3.05%	-8.27%	20.05%	45.12%	-24.96%	-20.76%
EBIT Growth	17.54%	6.82%	2.36%	60.77%	67.52%	2.47%	-11.31%	16.67%	53.94%	-28.76%	-25.64%
NOPAT Growth	20.76%	8.15%	1.76%	67.12%	94.22%	3.09%	-11.48%	17.39%	53.63%	-29.13%	-26.81%
Net Income Growth	20.76%	8.15%	1.76%	67.12%	94.22%	3.09%	-11.48%	17.39%	53.63%	-29.13%	-26.81%
EPS Growth	21.43%	9.24%	2.31%	36.84%	65.38%	2.99%	-9.35%	13.52%	29.15%	-38.59%	-27.27%
Operating Cash Flow Growth	-33.47%	-21.89%	10.50%	-34.97%	72.93%	10.40%	13.85%	144.00%	62.05%	-43.03%	33.02%
Free Cash Flow Firm Growth	-1,341.95%	104.18%	-3,379.67%	-397.66%	104.57%	478.82%	154.34%	-188.46%	150.91%	-560.52%	193.43%
Invested Capital Growth	20.51%	4.86%	20.98%	72.09%	6.39%	-1.52%	-17.16%	35.88%	1.63%	51.81%	-23.22%
Revenue Q/Q Growth	-4.04%	0.26%	3.47%	12.21%	0.71%	1.25%	2.28%	4.20%	2.62%	-0.47%	-8.22%
EBITDA Q/Q Growth	-15.42%	20.31%	-18.92%	39.67%	8.04%	-2.36%	4.49%	-10.30%	19.86%	-5.26%	-20.76%
EBIT Q/Q Growth	6.11%	-1.51%	5.86%	11.16%	9.44%	-3.04%	3.87%	-12.65%	23.55%	-7.10%	-23.90%
NOPAT Q/Q Growth	6.01%	-1.09%	6.00%	14.50%	12.21%	-3.17%	3.51%	-12.07%	23.45%	-7.76%	-25.53%
Net Income Q/Q Growth	6.01%	-1.09%	6.00%	14.50%	12.21%	-3.17%	3.51%	-12.07%	23.45%	-7.76%	-25.53%
EPS Q/Q Growth	5.31%	0.00%	5.56%	5.81%	11.07%	-2.82%	4.07%	-16.27%	27.16%	-12.46%	-25.81%
Operating Cash Flow Q/Q Growth	-29.97%	-12.08%	10.27%	10,666.14%	-23.14%	-8.74%	12.48%	5.07%	9.64%	-9.18%	21.19%
Free Cash Flow Firm Q/Q Growth	11.26%	113.37%	-199.76%	-54.56%	111.85%	0.66%	2.79%	-505.76%	224.02%	-72.59%	180.97%
Invested Capital Q/Q Growth	0.58%	-3.47%	6.34%	20.93%	1.84%	1.54%	1.34%	31.04%	8.93%	20.67%	-2.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	20.45%	32.40%	31.45%	37.57%	48.38%	48.17%	40.68%	45.71%	54.03%	39.41%	36.04%
EBIT Margin	26.40%	29.72%	28.29%	31.66%	42.60%	42.17%	34.44%	37.60%	47.15%	32.65%	28.02%
Profit (Net Income) Margin	17.12%	19.52%	18.47%	21.49%	33.52%	33.38%	27.21%	29.89%	37.40%	25.77%	21.77%
Tax Burden Percent	64.87%	65.68%	65.29%	67.87%	78.68%	79.16%	79.00%	79.49%	79.33%	78.91%	77.68%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	35.13%	34.32%	34.71%	32.13%	21.32%	20.84%	21.00%	20.51%	20.67%	21.09%	22.32%
Return on Invested Capital (ROIC)	5.42%	5.24%	4.71%	5.28%	7.86%	7.92%	7.73%	8.49%	11.23%	6.27%	4.31%
ROIC Less NNEP Spread (ROIC-NNEP)	5.42%	5.24%	4.71%	5.28%	7.86%	7.92%	7.73%	8.49%	11.23%	6.27%	4.31%
Return on Net Nonoperating Assets (RNNOA)	1.16%	2.17%	3.04%	3.38%	4.39%	3.47%	1.60%	0.52%	1.76%	2.39%	1.10%
Return on Equity (ROE)	6.58%	7.41%	7.75%	8.67%	12.25%	11.39%	9.33%	9.01%	12.99%	8.66%	5.41%
Cash Return on Invested Capital (CROIC)	-13.18%	0.49%	-14.28%	-47.71%	1.67%	9.45%	26.49%	-21.93%	9.61%	-34.88%	30.58%
Operating Return on Assets (OROA)	1.20%	1.25%	1.21%	1.48%	1.99%	1.94%	1.54%	1.35%	1.75%	1.16%	0.81%
Return on Assets (ROA)	0.78%	0.82%	0.79%	1.00%	1.56%	1.53%	1.21%	1.07%	1.39%	0.92%	0.63%
Return on Common Equity (ROCE)	5.35%	6.62%	7.67%	8.67%	12.25%	11.39%	9.33%	9.01%	12.99%	8.66%	5.41%
Return on Equity Simple (ROE_SIMPLE)	6.45%	7.90%	7.47%	6.63%	11.68%	10.80%	9.12%	7.77%	14.24%	7.59%	5.27%
Net Operating Profit after Tax (NOPAT)	25	27	28	46	89	92	81	96	147	104	76
NOPAT Margin	17.12%	19.52%	18.47%	21.49%	33.52%	33.38%	27.21%	29.89%	37.40%	25.77%	21.77%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	39.30%	42.43%	42.10%	37.83%	40.69%	40.66%	38.91%	37.27%	34.70%	39.80%	45.69%
Operating Expenses to Revenue	66.62%	70.85%	71.73%	68.00%	58.75%	57.01%	53.86%	57.70%	49.69%	62.94%	67.28%
Earnings before Interest and Taxes (EBIT)	39	41	42	68	113	116	103	120	185	132	98
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	45	47	80	129	133	122	146	212	159	126
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.96	0.94	1.28	1.32	1.12	1.24	1.00	1.24	1.41	1.08	1.26
Price to Tangible Book Value (P/TBV)	1.22	1.18	1.63	2.10	1.68	1.76	1.40	1.80	2.22	1.72	1.93
Price to Revenue (P/Rev)	2.08	2.27	3.16	4.27	3.21	3.83	2.98	4.78	3.70	3.67	5.19
Price to Earnings (P/E)	12.59	11.92	17.24	19.85	9.58	11.48	10.96	15.98	9.90	14.26	23.85
Dividend Yield	2.08%	2.01%	1.37%	1.04%	1.39%	1.51%	2.31%	1.86%	2.16%	2.43%	2.00%
Earnings Yield	7.95%	8.39%	5.80%	5.04%	10.43%	8.71%	9.12%	6.26%	10.10%	7.01%	4.19%
Enterprise Value to Invested Capital (EV/IC)	0.47	0.46	0.68	0.75	0.68	0.98	0.62	0.87	1.12	0.94	0.91
Enterprise Value to Revenue (EV/Rev)	1.63	1.74	2.93	3.88	3.00	4.08	1.96	3.55	3.75	4.65	4.00
Enterprise Value to EBITDA (EV/EBITDA)	7.96	5.38	9.32	10.33	6.20	8.48	4.82	7.76	6.93	11.79	11.11
Enterprise Value to EBIT (EV/EBIT)	6.17	5.87	10.36	12.26	7.04	9.68	5.70	9.43	7.94	14.23	14.29
Enterprise Value to NOPAT (EV/NOPAT)	9.51	8.93	15.87	18.07	8.95	12.23	7.21	11.86	10.01	18.03	18.40
Enterprise Value to Operating Cash Flow (EV/OCF)	4.97	6.46	10.58	30.95	17.23	21.98	10.07	7.97	6.38	14.29	8.02
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	94.95	0.00	0.00	42.14	10.25	2.10	0.00	11.70	0.00	2.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.30	0.54	0.74	0.59	0.53	0.35	0.07	0.05	0.28	0.46	0.06
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.35	0.07	0.05	0.28	0.46	0.06
Financial Leverage	0.21	0.41	0.64	0.64	0.56	0.44	0.21	0.06	0.16	0.38	0.26
Leverage Ratio	8.43	9.02	9.82	8.63	7.83	7.43	7.69	8.38	9.34	9.46	8.61
Compound Leverage Factor	8.43	9.02	9.82	8.63	7.83	7.43	7.69	8.38	9.34	9.46	8.61
Debt to Total Capital	23.09%	35.26%	42.44%	37.03%	34.73%	26.08%	6.47%	5.19%	21.80%	31.47%	5.98%
Short-Term Debt to Total Capital	23.09%	35.26%	42.44%	37.03%	34.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	26.08%	6.47%	5.19%	21.80%	31.47%	5.98%
Preferred Equity to Total Capital	14.04%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	62.87%	63.36%	57.56%	62.97%	65.27%	73.92%	93.53%	94.81%	78.20%	68.53%	94.02%
Debt to EBITDA	3.90	4.15	5.79	5.07	3.16	2.26	0.51	0.46	1.35	3.96	0.73
Net Debt to EBITDA	-4.58	-1.80	-0.74	-1.02	-0.44	0.52	-2.51	-2.69	0.08	2.46	-3.29
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	2.26	0.51	0.46	1.35	3.96	0.73
Debt to NOPAT	4.66	6.89	9.87	8.87	4.55	3.27	0.76	0.70	1.96	6.05	1.21
Net Debt to NOPAT	-5.47	-2.99	-1.26	-1.78	-0.63	0.75	-3.75	-4.12	0.12	3.77	-5.45
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	3.27	0.76	0.70	1.96	6.05	1.21
Noncontrolling Interest Sharing Ratio	18.64%	10.70%	1.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-61	2.54	-83	-415	19	110	279	-247	126	-579	541
Operating Cash Flow to CapEx	1,389.31%	967.62%	619.31%	595.34%	582.31%	2,953.20%	479.16%	1,566.01%	4,624.18%	3,807.48%	13,261.08%
Free Cash Flow to Firm to Interest Expense	-7.39	0.37	-10.96	-32.76	0.80	3.24	14.28	-25.94	7.81	-4.08	2.90
Operating Cash Flow to Interest Expense	5.82	5.41	5.43	2.12	1.95	1.51	2.98	14.95	14.32	0.92	0.93
Operating Cash Flow Less CapEx to Interest Expense	5.40	4.85	4.55	1.76	1.62	1.46	2.36	13.99	14.01	0.90	0.93
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.05	0.04	0.04	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.03
Fixed Asset Turnover	1.91	1.85	1.99	2.23	2.26	2.36	2.54	2.49	2.91	2.83	2.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	504	529	639	1,101	1,171	1,153	955	1,298	1,319	2,003	1,537
Invested Capital Turnover	0.32	0.27	0.26	0.25	0.23	0.24	0.28	0.28	0.30	0.24	0.20
Increase / (Decrease) in Invested Capital	86	24	111	461	70	-18	-198	343	21	683	-465
Enterprise Value (EV)	238	241	437	831	799	1,126	588	1,135	1,471	1,877	1,402
Market Capitalization	304	315	471	913	856	1,057	893	1,528	1,454	1,485	1,818
Book Value per Share	$16.08	$16.93	$18.30	$23.38	$25.71	$28.79	$31.21	$34.57	$28.89	$33.40	$34.97
Tangible Book Value per Share	$12.64	$13.53	$14.35	$14.69	$17.11	$20.29	$22.31	$23.84	$18.33	$21.03	$22.83
Total Capital	504	529	639	1,101	1,171	1,153	955	1,298	1,319	2,003	1,537
Total Debt	116	186	271	408	407	301	62	67	288	630	92
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	301	62	67	288	630	92
Net Debt	-137	-81	-35	-82	-56	69	-305	-394	17	392	-416
Capital Expenditures (CapEx)	3.44	3.86	6.66	4.51	7.97	1.74	12	9.09	4.99	3.45	1.32
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	116	186	271	408	407	301	62	67	288	630	92
Total Depreciation and Amortization (D&A)	-8.68	3.71	4.70	13	15	17	19	26	27	27	28
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.22	$1.34	$1.37	$1.82	$3.02	$3.10	$2.81	$3.19	$4.12	$2.54	$1.85
Adjusted Weighted Average Basic Shares Outstanding	19.70M	19.77M	19.96M	25.21M	29.57M	29.55M	28.84M	29.88M	35.49M	40.75M	41.02M
Adjusted Diluted Earnings per Share	$1.19	$1.30	$1.33	$1.82	$3.01	$3.10	$2.81	$3.19	$4.12	$2.53	$1.84
Adjusted Weighted Average Diluted Shares Outstanding	20.43M	20.50M	20.73M	25.29M	29.71M	29.72M	28.98M	30.03M	35.67M	41.16M	41.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$3.10	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	19.71M	19.75M	24.65M	29.65M	29.72M	29.21M	28.49M	35.65M	40.88M	41.13M	41.36M
Normalized Net Operating Profit after Tax (NOPAT)	25	27	28	52	92	93	82	109	151	115	76
Normalized NOPAT Margin	17.12%	19.52%	19.10%	24.22%	34.38%	33.71%	27.35%	34.07%	38.43%	28.44%	21.77%
Pre Tax Income Margin	26.40%	29.72%	28.29%	31.66%	42.60%	42.17%	34.44%	37.60%	47.15%	32.65%	28.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.69	5.96	5.54	5.35	4.77	3.43	5.27	12.63	11.50	0.93	0.52
NOPAT to Interest Expense	3.04	3.91	3.62	3.63	3.76	2.72	4.17	10.04	9.12	0.73	0.41
EBIT Less CapEx to Interest Expense	4.27	5.40	4.66	4.99	4.44	3.38	4.65	11.68	11.19	0.90	0.52
NOPAT Less CapEx to Interest Expense	2.62	3.35	2.74	3.27	3.42	2.66	3.54	9.09	8.82	0.71	0.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.69%	26.28%	24.11%	16.52%	12.63%	14.84%	25.70%	23.24%	20.87%	33.55%	47.56%
Augmented Payout Ratio	28.69%	26.28%	24.11%	16.52%	12.63%	25.71%	64.81%	27.46%	20.87%	33.55%	47.56%

This table displays calculated financial ratios and metrics derived from First Bancorp's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	36.21%	11.28%	10.29%	5.95%	-2.32%	-1.92%	-13.07%	-5.44%	-3.26%	-32.32%
EBITDA Growth	33.20%	185.07%	-46.84%	-17.78%	-19.69%	-17.34%	46.76%	-2.46%	-34.40%	-65.03%
EBIT Growth	40.03%	278.63%	-54.66%	-19.23%	-22.27%	-21.44%	64.30%	-1.03%	-40.06%	-81.75%
NOPAT Growth	37.28%	265.26%	-55.37%	-19.63%	-21.23%	-22.79%	66.69%	-2.35%	-37.51%	-88.03%
Net Income Growth	37.28%	265.26%	-55.37%	-19.63%	-21.23%	-22.79%	66.69%	-2.35%	-37.51%	-88.03%
EPS Growth	9.28%	440.00%	-61.05%	-31.07%	-31.13%	-33.33%	64.86%	-1.41%	-38.36%	-88.89%
Operating Cash Flow Growth	61.89%	65.10%	-63.44%	-6.04%	-42.34%	-25.81%	-154.87%	207.38%	36.85%	80.07%
Free Cash Flow Firm Growth	-801.86%	105.21%	-232.04%	-386.59%	-129.39%	-3,880.93%	131.61%	150.34%	126.03%	171.68%
Invested Capital Growth	22.26%	1.63%	60.89%	57.49%	37.04%	51.81%	-10.39%	-15.93%	-5.44%	-23.22%
Revenue Q/Q Growth	7.03%	-3.24%	7.17%	-4.53%	-1.32%	-2.86%	-5.01%	3.85%	0.95%	-32.04%
EBITDA Q/Q Growth	3.02%	-1.56%	-50.80%	66.44%	0.62%	1.32%	-12.76%	10.61%	-32.32%	-45.99%
EBIT Q/Q Growth	5.01%	-0.98%	-59.51%	92.64%	1.04%	0.09%	-15.67%	16.05%	-38.80%	-69.53%
NOPAT Q/Q Growth	3.73%	1.28%	-60.55%	93.94%	1.67%	-0.73%	-14.83%	13.61%	-34.94%	-80.99%
Net Income Q/Q Growth	3.73%	1.28%	-60.55%	93.94%	1.67%	-0.73%	-14.83%	13.61%	-34.94%	-80.99%
EPS Q/Q Growth	2.91%	1.89%	-65.74%	91.89%	2.82%	-1.37%	-15.28%	14.75%	-35.71%	-82.22%
Operating Cash Flow Q/Q Growth	60.31%	5.65%	-28.83%	-22.06%	-1.63%	35.95%	-144.04%	536.60%	-56.20%	78.88%
Free Cash Flow Firm Q/Q Growth	-43.21%	109.47%	-4,185.22%	12.21%	32.49%	-56.16%	134.15%	39.81%	-65.09%	329.96%
Invested Capital Q/Q Growth	7.19%	8.93%	44.53%	-6.67%	-6.73%	20.67%	-14.69%	-12.44%	4.90%	-2.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	53.82%	54.76%	24.89%	43.39%	44.25%	46.15%	42.02%	44.76%	30.00%	23.85%
EBIT Margin	47.38%	48.49%	18.25%	36.82%	37.70%	38.84%	34.48%	38.53%	23.36%	10.47%
Profit (Net Income) Margin	37.12%	38.85%	14.30%	29.05%	29.93%	30.58%	27.42%	30.00%	19.33%	5.41%
Tax Burden Percent	78.82%	79.62%	78.37%	78.90%	79.39%	78.73%	79.51%	77.84%	82.76%	51.63%
Interest Burden Percent	99.38%	100.63%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	21.18%	20.38%	21.63%	21.10%	20.61%	21.27%	20.49%	22.16%	17.24%	48.37%
Return on Invested Capital (ROIC)	12.91%	11.66%	3.73%	8.16%	8.47%	7.44%	5.92%	7.05%	4.57%	1.07%
ROIC Less NNEP Spread (ROIC-NNEP)	12.91%	11.66%	3.73%	8.16%	8.47%	7.44%	5.92%	7.05%	4.57%	1.07%
Return on Net Nonoperating Assets (RNNOA)	1.94%	1.83%	1.04%	1.90%	2.37%	2.84%	2.08%	1.50%	0.82%	0.27%
Return on Equity (ROE)	14.84%	13.49%	4.76%	10.05%	10.84%	10.28%	8.00%	8.54%	5.39%	1.34%
Cash Return on Invested Capital (CROIC)	-9.22%	9.61%	-38.39%	-36.34%	-23.39%	-34.88%	17.28%	24.24%	11.93%	30.58%
Operating Return on Assets (OROA)	1.91%	1.80%	0.64%	1.33%	1.36%	1.38%	1.10%	1.23%	0.74%	0.30%
Return on Assets (ROA)	1.50%	1.44%	0.50%	1.05%	1.08%	1.09%	0.88%	0.96%	0.61%	0.16%
Return on Common Equity (ROCE)	14.84%	13.49%	4.76%	10.05%	10.84%	10.28%	8.00%	8.54%	5.39%	1.34%
Return on Equity Simple (ROE_SIMPLE)	12.09%	0.00%	9.86%	9.32%	8.98%	0.00%	8.30%	8.09%	6.93%	0.00%
Net Operating Profit after Tax (NOPAT)	38	38	15	29	30	30	25	29	19	3.55
NOPAT Margin	37.12%	38.85%	14.30%	29.05%	29.93%	30.58%	27.42%	30.00%	19.33%	5.41%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	32.68%	34.81%	38.46%	39.33%	40.99%	40.52%	42.85%	41.12%	42.75%	60.67%
Operating Expenses to Revenue	47.63%	46.15%	69.96%	60.85%	62.30%	58.11%	64.22%	60.90%	61.94%	88.75%
Earnings before Interest and Taxes (EBIT)	48	48	19	37	38	38	32	37	23	6.88
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	55	54	26	44	44	45	39	43	29	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.27	1.41	1.08	0.91	0.90	1.08	1.07	0.94	1.16	1.26
Price to Tangible Book Value (P/TBV)	2.06	2.22	1.79	1.52	1.52	1.72	1.70	1.46	1.76	1.93
Price to Revenue (P/Rev)	3.26	3.70	3.48	2.91	2.78	3.67	3.78	3.42	4.50	5.19
Price to Earnings (P/E)	10.48	9.90	10.95	9.81	9.99	14.26	12.91	11.57	16.78	23.85
Dividend Yield	2.46%	2.16%	2.56%	3.04%	3.20%	2.43%	2.45%	2.76%	2.12%	2.00%
Earnings Yield	9.54%	10.10%	9.13%	10.19%	10.01%	7.01%	7.74%	8.64%	5.96%	4.19%
Enterprise Value to Invested Capital (EV/IC)	0.99	1.12	0.68	0.74	0.76	0.94	0.85	0.53	0.68	0.91
Enterprise Value to Revenue (EV/Rev)	3.15	3.75	3.22	3.20	3.09	4.65	3.72	2.07	2.79	4.00
Enterprise Value to EBITDA (EV/EBITDA)	6.80	6.93	6.88	7.31	7.47	11.79	8.28	4.57	6.68	11.11
Enterprise Value to EBIT (EV/EBIT)	8.03	7.94	8.02	8.56	8.84	14.23	10.07	5.54	8.25	14.29
Enterprise Value to NOPAT (EV/NOPAT)	10.12	10.01	10.12	10.81	11.13	18.03	12.73	7.02	10.40	18.40
Enterprise Value to Operating Cash Flow (EV/OCF)	5.72	6.38	7.76	7.91	8.68	14.29	19.46	5.96	7.38	8.02
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	11.70	0.00	0.00	0.00	0.00	4.66	2.01	5.52	2.59
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.23	0.28	0.47	0.37	0.32	0.46	0.24	0.07	0.06	0.06
Long-Term Debt to Equity	0.23	0.28	0.47	0.37	0.32	0.46	0.24	0.07	0.06	0.06
Financial Leverage	0.15	0.16	0.28	0.23	0.28	0.38	0.35	0.21	0.18	0.26
Leverage Ratio	9.93	9.34	9.52	9.58	10.03	9.46	9.14	8.92	8.82	8.61
Compound Leverage Factor	9.87	9.40	9.52	9.58	10.03	9.46	9.14	8.92	8.82	8.61
Debt to Total Capital	18.70%	21.80%	31.81%	27.07%	24.21%	31.47%	19.45%	6.12%	5.84%	5.98%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	18.70%	21.80%	31.81%	27.07%	24.21%	31.47%	19.45%	6.12%	5.84%	5.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	81.30%	78.20%	68.19%	72.93%	75.79%	68.53%	80.55%	93.88%	94.16%	94.02%
Debt to EBITDA	1.28	1.35	3.22	2.69	2.39	3.96	1.89	0.52	0.58	0.73
Net Debt to EBITDA	-0.24	0.08	-0.57	0.68	0.76	2.46	-0.12	-2.96	-4.10	-3.29
Long-Term Debt to EBITDA	1.28	1.35	3.22	2.69	2.39	3.96	1.89	0.52	0.58	0.73
Debt to NOPAT	1.90	1.96	4.73	3.98	3.56	6.05	2.91	0.81	0.90	1.21
Net Debt to NOPAT	-0.36	0.12	-0.83	1.00	1.14	3.77	-0.19	-4.55	-6.38	-5.45
Long-Term Debt to NOPAT	1.90	1.96	4.73	3.98	3.56	6.05	2.91	0.81	0.90	1.21
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-183	17	-706	-620	-419	-654	223	312	109	469
Operating Cash Flow to CapEx	3,901.60%	3,682.53%	11,061.93%	1,930.92%	2,106.15%	12,351.78%	-1,231.88%	109,652.50%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-61.74	1.98	-28.61	-18.14	-10.69	-14.83	4.72	6.54	2.25	10.76
Operating Cash Flow to Interest Expense	16.47	5.89	1.48	0.84	0.72	0.87	-0.42	1.84	0.79	1.58
Operating Cash Flow Less CapEx to Interest Expense	16.05	5.73	1.47	0.79	0.68	0.86	-0.46	1.84	0.80	1.58
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.04	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03
Fixed Asset Turnover	2.96	2.91	2.79	2.84	2.84	2.83	2.57	2.57	2.57	2.38
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,211	1,319	1,906	1,779	1,660	2,003	1,708	1,496	1,569	1,537
Invested Capital Turnover	0.35	0.30	0.26	0.28	0.28	0.24	0.22	0.24	0.24	0.20
Increase / (Decrease) in Invested Capital	220	21	722	650	449	683	-198	-283	-90	-465
Enterprise Value (EV)	1,204	1,471	1,296	1,308	1,256	1,877	1,454	797	1,064	1,402
Market Capitalization	1,247	1,454	1,403	1,187	1,128	1,485	1,475	1,314	1,717	1,818
Book Value per Share	$27.59	$28.89	$31.80	$31.66	$30.61	$33.40	$33.45	$34.11	$35.79	$34.97
Tangible Book Value per Share	$16.99	$18.33	$19.13	$19.07	$18.11	$21.03	$21.06	$21.85	$23.60	$22.83
Total Capital	1,211	1,319	1,906	1,779	1,660	2,003	1,708	1,496	1,569	1,537
Total Debt	226	288	606	482	402	630	332	92	92	92
Total Long-Term Debt	226	288	606	482	402	630	332	92	92	92
Net Debt	-43	17	-107	121	128	392	-22	-517	-653	-416
Capital Expenditures (CapEx)	1.25	1.40	0.33	1.48	1.33	0.31	1.63	0.08	-0.31	-0.09
Net Nonoperating Expense (NNE)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	226	288	606	482	402	630	332	92	92	92
Total Depreciation and Amortization (D&A)	6.58	6.20	7.04	6.65	6.54	7.09	6.95	5.95	6.42	8.78
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.06	$1.08	$0.37	$0.72	$0.73	$0.72	$0.61	$0.70	$0.45	$0.09
Adjusted Weighted Average Basic Shares Outstanding	35.47M	35.49M	40.58M	40.72M	40.74M	40.75M	40.84M	40.88M	40.97M	41.02M
Adjusted Diluted Earnings per Share	$1.06	$1.08	$0.37	$0.71	$0.73	$0.72	$0.61	$0.70	$0.45	$0.08
Adjusted Weighted Average Diluted Shares Outstanding	35.70M	35.67M	41.11M	41.13M	41.20M	41.16M	41.25M	41.26M	41.37M	41.33M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	35.71M	40.88M	40.99M	41.08M	41.09M	41.13M	41.17M	41.28M	41.34M	41.36M
Normalized Net Operating Profit after Tax (NOPAT)	38	39	25	30	30	30	25	29	19	3.55
Normalized NOPAT Margin	37.54%	39.09%	23.30%	30.09%	29.93%	30.73%	27.42%	30.00%	19.33%	5.41%
Pre Tax Income Margin	47.09%	48.80%	18.25%	36.82%	37.70%	38.84%	34.48%	38.53%	23.36%	10.47%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	16.39	5.49	0.78	1.09	0.96	0.85	0.67	0.77	0.47	0.16
NOPAT to Interest Expense	12.84	4.40	0.61	0.86	0.76	0.67	0.53	0.60	0.39	0.08
EBIT Less CapEx to Interest Expense	15.97	5.33	0.77	1.05	0.93	0.85	0.64	0.77	0.47	0.16
NOPAT Less CapEx to Interest Expense	12.42	4.24	0.60	0.82	0.73	0.67	0.50	0.60	0.39	0.08
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.95%	20.87%	24.50%	26.93%	29.90%	33.55%	31.63%	31.85%	35.37%	47.56%
Augmented Payout Ratio	23.95%	20.87%	24.50%	26.93%	29.90%	33.55%	31.63%	31.85%	35.37%	47.56%

Financials Breakdown Chart

Key Financial Trends

First Bancorp (NASDAQ:FBNC) has shown a generally stable financial performance over the last four years, with some fluctuations and notable trends in recent quarters.

Positive Highlights:

Net Interest Income remains consistently strong, with $88.9 million reported in Q4 2024, up from $83.0 million in Q3 2024, reflecting stable income from loans and leases.
The bank maintained positive net income for common shareholders each quarter, with a Q4 2024 net income of $3.55 million.
Quarterly Earnings Per Share (EPS) have shown resilience, with Q4 2024 basic EPS at $0.09 and diluted EPS at $0.08, although down from Q3 2024's $0.45 diluted EPS.
The balance sheet reflects growth in total assets, from approximately $10.5 billion in Q3 2022 to $12.15 billion in Q3 2024, indicating steady expansion.
Deposits have increased over time, with combined interest-bearing and non-interest-bearing deposits growing from about $9.2 billion in Q3 2022 to over $10.5 billion by Q3 2024, suggesting strong customer loyalty and funding stability.
Provision for Credit Losses has generally remained low or stable recently (e.g., $507,000 in Q4 2024), implying controlled credit risk.
Amortization expense increased in Q4 2024 to $1.56 million from $1.61 million in Q3 2024, reflecting ongoing asset amortization but within manageable levels.
The company continues to pay dividends at a steady rate of $0.22 per share each quarter, supporting shareholder returns.

Neutral Observations:

Cash and Due from Banks fluctuated somewhat, with a Q3 2024 balance of $74 million and minor movements quarter to quarter.
Amortization and depreciation expenses are consistent but relatively moderate as a portion of total expenses, indicating steady asset management.

Negative Concerns:

The bank suffered a significant net realized and unrealized capital loss in Q4 2024, a notable ($36.1) million negative impact on non-interest income, heavily reducing total non-interest income and overall revenue for the quarter.
Total non-interest income was negative $23.3 million in Q4 2024, a sharp decline compared to positive figures in previous quarters (e.g., $13.6 million in Q3 2024), driven by the capital losses.
Interest Expense increased in recent quarters, with Q4 2024 total interest expense at $43.6 million, up from $48.3 million in Q3 2024 but still elevated compared to earlier periods, which pressures net interest margin.
Non-Interest Expenses, notably salaries, employee benefits, and operating expenses, have increased steadily, reaching $58.3 million in Q4 2024, up from around $56.8 million a year ago, which weighs on profitability.
Net income showed a notable decrease in Q4 2024 to $3.55 million compared to $18.7 million in Q3 2024, impacted by large unrealized losses and increased expenses.
Net cash from operating activities dropped dramatically in Q1 2024 (-$20.1 million) indicating operational struggles early in the year, before recovering in later quarters.
The company had to manage repayments and issuances of long-term debt at high levels, which may indicate refinancing risk or fluctuating capital structure priorities.
Accumulated Other Comprehensive Income (loss) remains largely negative, reaching -$254.8 million in Q3 2024 from about -$358 million in Q1 2023, indicating ongoing valuation challenges or unrealized losses affecting equity.

Summary: First Bancorp displays stable core bank operations with well-maintained net interest income and consistent dividends, along with expanding assets and deposits. However, recent quarters highlight a significant challenge from investment portfolio losses that negatively impact non-interest income and overall profitability, alongside rising expenses. Investors should watch the company’s ability to manage capital gains/losses on investments and control operating costs while maintaining credit quality as critical factors for future earnings stability.

10/16/25 05:09 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About First Bancorp's Financials

When does First Bancorp's fiscal year end?

According to the most recent income statement we have on file, First Bancorp's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has First Bancorp's net income changed over the last 10 years?

First Bancorp's net income appears to be on an upward trend, with a most recent value of $76.22 million in 2024, rising from $25.00 million in 2014. The previous period was $104.13 million in 2023. Check out First Bancorp's forecast to explore projected trends and price targets.

How has First Bancorp's revenue changed over the last 10 years?

Over the last 10 years, First Bancorp's total revenue changed from $145.98 million in 2014 to $350.17 million in 2024, a change of 139.9%.

How much debt does First Bancorp have?

First Bancorp's total liabilities were at $10.70 billion at the end of 2024, a 0.4% decrease from 2023, and a 278.1% increase since 2014.

How much cash does First Bancorp have?

In the past 10 years, First Bancorp's cash and equivalents has ranged from $53.29 million in 2015 to $128.23 million in 2021, and is currently $78.60 million as of their latest financial filing in 2024.

How has First Bancorp's book value per share changed over the last 10 years?

Over the last 10 years, First Bancorp's book value per share changed from 16.08 in 2014 to 34.97 in 2024, a change of 117.4%.

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This page (NASDAQ:FBNC) was last updated on 10/16/2025 by MarketBeat.com Staff

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First Bancorp (FBNC) Financials

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First Bancorp (FBNC) Financials

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