First Bancorp Q2 net income $29.4M ($0.71 EPS); loans grow 5.1% annualized

FIRST BANCORP /NC/

2023-Q2 EPS reported $1.08

Net interest income $87.0M, up 11.1% YoY; NIM (tax-equivalent) 3.08% vs 3.18% a year ago.
Loans $7.9B, up $98.7M in Q2 (5.1% annualized); deposits grew $67.1M organically, noninterest-bearing 36% of total.
Nonperforming assets ratio 0.30%, down from 0.39% a year ago; provision for loan losses $3.7M.
GrandSouth acquisition closed Jan 2023 added $1.02B loans and $1.05B deposits; merger expenses $1.3M in Q2 vs $12.2M in Q1.
Capital ratios strong: CET1 12.76%, total RBC 15.10%; TCE/tangible assets 6.79%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FIRST BANCORP /NC/ reported three months ended June 30, 2023 results: net income $29.4 million, EPS $0.71 per diluted common share.

Period: three months ended June 30, 2023
Net income: $29.4 million
EPS: $0.71 per diluted common share
Result: reported results

Exact text from the filing

First Bancorp (the "Company") (NASDAQ - FBNC), the parent company of First Bank, announced today net income of $29.4 million, or $0.71 per diluted common share, for the three months ended June 30, 2023

View on SEC.gov

Browse all earnings releases →

FIRST BANCORP /NC/ filing history →

Source: SEC EDGAR

accession 0000811589-23-000043

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.