secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /NC/ (FBNC)
CIK:        0000811589
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0000811589-23-000005
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Bancorp Q4 net income $38.4M ($1.08 EPS); closes GrandSouth acquisition Jan 1
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- Q4 2022 net income $38.4M ($1.08 diluted EPS) vs $10.5M ($0.30) in Q4 2021.
- Full-year 2022 net income $146.9M ($4.12 per diluted share) vs $95.6M ($3.19) in 2021.
- Total loans grew 9.6% YoY to $6.7B; NPA ratio improved to 0.36%.
- GrandSouth acquisition closed Jan 1, 2023, adding ~$1.2B in assets, 8 branches in SC.
- Net interest margin tax-equivalent 3.28% for full year 2022, up from 3.16% in 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811589/000081158923000005/0000811589-23-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811589/000081158923000005/fbnc-20230124.htm
  HTML page:      https://secwatch.observer/filing/0000811589-23-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer