---
schema_version: "secwatch.filing_event.v1"
accession: "0000811589-22-000046"
form_type: "8-K"
ticker: "FBNC"
cik: "0000811589"
company_name: "FIRST BANCORP /NC/"
filed_at: "2022-10-27T23:59:59+00:00"
generated_at: "2026-06-23T00:33:31.726530+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Bancorp Q3 net income $37.9M ($1.06 EPS) beats year ago; margin expands; GrandSouth on track

## Summary
- EPS of $1.06 (diluted) vs $0.97 year ago; net income $37.9M, up 37% YoY.
- Net interest margin (tax-equivalent) rose to 3.40% from 3.03% a year ago.
- Loan growth annualized 17.9% to $6.5B; deposits $9.2B, down $130.5M QoQ.
- GrandSouth acquisition received regulatory approvals; expected close Jan 2023; target has $1.3B assets.
- Quarterly cash dividend raised 10% to $0.22 per share.

## SEC filing metadata
- accession: 0000811589-22-000046
- form_type: 8-K
- ticker: FBNC
- cik: 0000811589
- company_name: FIRST BANCORP /NC/
- filed_at: 2022-10-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811589/000081158922000046/0000811589-22-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811589/000081158922000046/fbnc-20221026.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000811589-22-000046
- JSON: https://secwatch.observer/filing/0000811589-22-000046.json
- Plain text: https://secwatch.observer/filing/0000811589-22-000046.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.