MARKETS / NASDAQ / FBNC

NASDAQ · STATE COMMERCIAL BANKS · LARGE CAP

First Bancorp FBNC

17 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$67.6M

▼ 3.6% YoY

Net income

$111.0M

▲ 45.7% YoY

Free cash flow

$198.9M

▲ 15.5% YoY

In brief

What this company does

The Bank began banking operations in 1935 as the Bank of Montgomery, named for the county in which it originally operated. In January 2023, the Company acquired GrandSouth, a community bank headquartered in Greenville, South Carolina with $1.2 billion in total assets, $1.0 billion in loans, and $1.1 billion in deposits. As of December 31, 2025, the Company had 1,332 full-time and 42 part-time associates, all of whom are employed by the Bank and the majority of whom are located in North Carolina and South Carolina.

Written from the business description in FIRST BANCORP's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 67.6M

Revenue, FY2025 · full 17-year series below

Revenue $M Net income $M

FY2025 · Revenue 67.6 · Net income 111.0

Compound annual growth

Revenue

+57.1%

Net income

−8.9%

+6.4%

+15.2%

+17.4%

EPS, diluted

−13.4%

−0.9%

Dividend / share

+1.1%

+4.8%

Returned to shareholders

+6.7%

−6.7%

+19.4%

+13.8%

3 yrs

5 yrs

10 yrs

15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

164 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 206.3% · Net 164.2%

ROE

FY2025 · ROE 7.2%

Gross margin—

Operating margin206.3%

Net margin164.2%

Return on assets0.9%

EBITDAUSD 146.3M

Each USD of equity produced 7 cents of profit this year.

Cash & shareholders

USD 37.3M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 198.9

Net buybacks $M Dividends $M

FY2025 · Dividends 37.3 · Net buybacks -0.5

Dividends paidUSD 37.3M

Net buybacksUSD -500,000.00

Share of profit33.6%

Consecutive raises1 years

USD 37.3M in dividends — 34% of the year's profit went back to shareholders.

Total assetsUSD 12.7B

EquityUSD 1.7B

CashUSD 309.6M

Gross debtUSD 74.6M

Net debtUSD -235.0M

DepositsUSD 10.7B

The company holds more cash than debt.

The 17-year record

17 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Revenue $B	0.1	0.1	0.0	0.0	0.0	·	·	·	·	·	·	·	·	·	·	·	·
Operating income $B	0.1	0.1	0.1	0.2	0.1	0.1	0.1	·	·	·	·	·	·	·	·	·	·
EBITDA $B	0.1	0.1	0.1	0.2	0.1	0.1	0.1	·	·	·	·	·	·	·	·	·	·
Income tax $B	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.0
Net income $B	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	0.1
Free cash flow $B	0.2	0.2	0.1	0.2	0.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0	0.0	0.0	0.0
EPS, diluted $	2.68	1.84	2.53	4.12	3.19	2.81	3.10	3.01	1.82	1.33	1.30	1.19	0.98	−1.54	0.44	0.35	3.37
Dividend / sh $	0.91	0.88	0.88	0.88	0.80	0.72	0.54	0.40	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.32	0.32
Payout %	34	48	34	21	23	26	15	13	17	23	23	25	30	−23	40	54	·
ROE %	7.2	5.4	8.7	13.0	9.0	9.3	11.4	12.3	8.7	7.7	7.4	6.6	5.7	−6.7	4.0	2.9	·
Shares out B	0.04	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.02	0.02	0.02	0.02	0.02	0.02	0.02	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 50 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityState Commercial Banks

Listed onNASDAQ

Incorporated inNorth Carolina

Fiscal year endsDecember 31

Data on record since2009