First Bancorp (FBNC) Financials

$52.31 +0.23 (+0.44%)

Closing price 10/3/2025 04:00 PM Eastern

Extended Trading

$52.32 +0.01 (+0.01%)

As of 10/3/2025 04:47 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 experienced notable financial shifts over the past four years, with the following key trends identified from quarterly financial statements:

Net interest income showing steady growth, reaching approximately $88.9 million in Q4 2024, up from the $84.5 million level in Q4 2022, driven mainly by higher loans and leases interest income.
Consistent dividend payouts at $0.22 per share each quarter throughout 2023 and 2024, indicating steady shareholder returns.
Loans and leases balances remained strong and growing, with net loans and leases increasing from about $6.4 billion in Q3 2022 to nearly $8 billion by Q3 2024, signaling expanding lending activities.
Increase in total common equity from approximately $985 million in Q1 2022 to $1.48 billion by Q3 2024, reflecting strengthened capital base.
Non-interest expenses have remained relatively controlled, with some fluctuations but stability around $58-62 million in recent quarters, supporting improved operating leverage.
Volatility in net realized and unrealized capital gains/losses on investments, with a negative $36.1 million impact in Q4 2024 contrasting with mostly positive or small gains in previous quarters, impacting non-interest income significantly.
Provision for credit losses fluctuates substantially, from as high as $12.5 million in Q1 2023 to as low as about $0.5 million in Q4 2024, indicating variable credit risk management expenses.
Decline in consolidated net income from roughly $38.4 million in Q4 2022 to $3.55 million in Q4 2024, reflecting pressures on profitability despite increased revenues.
Significant negative total non-interest income in Q4 2024 (-$23.3 million) driven primarily by realized and unrealized capital losses, heavily impacting overall revenue.
Sharp increase in cash paid for interest in 2024 compared to 2022 levels, with Q4 2024 cash interest paid at approximately $44.3 million up from $6.9 million in Q4 2022, implying increasing cost of funds.

In summary, First Bancorp has demonstrated solid growth in lending and interest income over the past several years, with a strengthening capital position. However, recent quarters, particularly Q4 2024, show notable challenges from investment losses and reduced profitability. Retail investors should watch for improvements in non-interest income volatility and continued credit quality to support earnings recovery.

10/05/25 08:39 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. Find out what analysts predict for First Bancorp in the coming months.

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 10/5/2025 by MarketBeat.com Staff

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First Bancorp (FBNC) Financials

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First Bancorp (FBNC) Financials

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