secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /NC/ (FBNC)
CIK:        0000811589
Form:       8-K
Filed at:   2022-10-27T23:59:59+00:00
Accession:  0000811589-22-000046
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811589/000081158922000046/0000811589-22-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811589/000081158922000046/fbnc-20221026.htm
  HTML page:      https://secwatch.observer/filing/0000811589-22-000046

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