{"schema_version":"secwatch.filing_event.v1","accession":"0000811589-23-000054","form_type":"8-K","ticker":"FBNC","cik":"0000811589","company_name":"FIRST BANCORP /NC/","filed_at":"2023-10-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:32.067340+00:00","generated_at":"2026-06-09T12:29:52.843221+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"First Bancorp Q3 net income $29.9M ($0.73/sh), down from $1.06 a year ago","bullets":["Net income $29.9M ($0.73 diluted EPS) vs $37.9M ($1.06) in Q3 2022; up from $29.4M ($0.71) in linked quarter.","Net interest margin (tax-equiv) fell to 2.97% from 3.40% YoY; loan yield 5.32%, cost of funds 1.46%.","Loans $8.0B, up $129.4M (6.5% annualized); organic deposits grew $66.7M; noninterest demand 34% of deposits.","Noninterest expenses $62.2M, +27.8% YoY driven by GrandSouth acquisition and higher data processing & FDIC costs.","Credit quality strong: NPAs 0.32% of assets; allowance 1.35% of loans; net charge-offs 0.11% annualized."],"urls":{"canonical":"https://secwatch.observer/filing/0000811589-23-000054","json":"https://secwatch.observer/filing/0000811589-23-000054.json","markdown":"https://secwatch.observer/filing/0000811589-23-000054.md","text":"https://secwatch.observer/filing/0000811589-23-000054.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/811589/000081158923000054/0000811589-23-000054-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/811589/000081158923000054/fbnc-20231025.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T12:29:52.843221+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3a6895da77467540f13a7f0307c9821d1948af84","claim":"FIRST BANCORP /NC/ reported the nine months ended September 30, 2023 results: net income $74.5 million, EPS $1.81 per diluted common share.","evidence_excerpt":"For the nine months ended September 30, 2023, the Company recorded net income of $74.5 million, or $1.81 per diluted common share","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/811589/000081158923000054/0000811589-23-000054-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the nine months ended September 30, 2023"},{"label":"Net income","value":"$74.5 million"},{"label":"EPS","value":"$1.81 per diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"d37489ac1469b3546226558fba11d4543ac60e4e","claim":"FIRST BANCORP /NC/ reported the three months ended September 30, 2023 results: net income $29.9 million, EPS $0.73 per diluted common share.","evidence_excerpt":"First Bancorp (the \"Company\") (NASDAQ - FBNC), the parent company of First Bank, announced today net income of $29.9 million, or $0.73 per diluted common share, for the three months ended September 30, 2023","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/811589/000081158923000054/0000811589-23-000054-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended September 30, 2023"},{"label":"Net income","value":"$29.9 million"},{"label":"EPS","value":"$0.73 per diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}