{"schema_version":"secwatch.filing_event.v1","accession":"0000811589-24-000004","form_type":"8-K","ticker":"FBNC","cik":"0000811589","company_name":"FIRST BANCORP /NC/","filed_at":"2024-01-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.983975+00:00","generated_at":"2026-06-06T19:39:29.633841+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"First Bancorp Q4 net income $29.7M ($0.72 EPS) down 23% YoY; loan growth 6.1% annualized","bullets":["Net income of $29.7M ($0.72 diluted EPS) vs $38.4M ($1.08) in Q4 2022, a 23% decline.","Full-year 2023 net income $104.1M ($2.53 EPS) vs $146.9M ($4.12) in 2022, affected by GrandSouth acquisition costs of $13.7M.","Net interest margin (tax-equivalent) fell to 2.88% from 3.32% a year ago as cost of funds rose to 1.64% from 0.36%.","Loans grew $123.1M in Q4 (6.1% annualized) to $8.2B; organic loan growth for 2023 was $464.9M (6.0%).","Credit quality strong: NPA ratio 0.37%, annualized net charge-offs 0.09%, capital ratio 15.54%."],"urls":{"canonical":"https://secwatch.observer/filing/0000811589-24-000004","json":"https://secwatch.observer/filing/0000811589-24-000004.json","markdown":"https://secwatch.observer/filing/0000811589-24-000004.md","text":"https://secwatch.observer/filing/0000811589-24-000004.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/811589/000081158924000004/0000811589-24-000004-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/811589/000081158924000004/fbnc-20240124.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T19:39:29.633841+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":"bea43062129b369de84bdfb7036cc0daf36a6559","claim":"FIRST BANCORP /NC/ reported the twelve months ended December 31, 2023 results: net income $104.1 million, EPS $2.53 per diluted common share.","evidence_excerpt":"For the twelve months ended December 31, 2023, the Company recorded net income of $104.1 million, or $2.53 per diluted common share","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/811589/000081158924000004/0000811589-24-000004-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the twelve months ended December 31, 2023"},{"label":"Net income","value":"$104.1 million"},{"label":"EPS","value":"$2.53 per diluted common share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"c327ce8eb386f336b1d4fec5fb6d165e215d727f","claim":"FIRST BANCORP /NC/ reported the three months ended December 31, 2023 results: net income $29.7 million, EPS $0.72 per diluted common share.","evidence_excerpt":"First Bancorp (the \"Company\") (NASDAQ - FBNC), the parent company of First Bank, announced today net income of $29.7 million, or $0.72 per diluted common share, for the three months ended December 31, 2023","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/811589/000081158924000004/0000811589-24-000004-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three months ended December 31, 2023"},{"label":"Net income","value":"$29.7 million"},{"label":"EPS","value":"$0.72 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"}