Trade First Bancorp/Southern Pines NC - FBNC CFD

First Bancorp Company profile

About First Bancorp (North Carolina)

First Bancorp is a bank holding company. The Company offers deposit products, such as checking, savings and money market accounts, as well as time deposits, including various types of certificates of deposits (CDs) and individual retirement accounts (IRAs). It provides loans for a range of consumer and commercial purposes, including loans for business, real estate, personal uses, home improvement and automobiles. It offers residential mortgages through its Mortgage Banking Division and it offers Small Business Administration (SBA) loans to small business owners across the nation through its SBA Lending Division. It offers accounts receivable financing and factoring, inventory financing, and purchase order financing through Magnolia Financial, as well as credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers. In addition, it offers Internet banking, mobile banking, cash management and bank-by-phone.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, First Bancorp (North Carolina) interest income increased 8% to $255.9M. Net interest income after loan loss provision increased 16% to $241M. Net income applicable to common stockholders increased 17% to $95.2M. Net interest income after loan loss provision reflects Interest&Dividend-InvesInterest on inves increase of 57% to $32.1M, Interest and fees on loans increase of 3% to $219M.

Equity composition

Common Stock no Par, 12/10, 40M auth., 16,801,426 issd., Insiders control 10.35%. Public Offering: 5/87, 400,000 shares @ $17.75 by Interstate Securities Corp. 9/99, 3-for-2 stock split; 1/90, & 12/90, 10% stock dividends; 9/96, 2-for-1 stock split. FY'02 Q's are restated. 11/04, 3-for-2 stock split.