---
schema_version: "secwatch.filing_event.v1"
accession: "0000811589-24-000050"
form_type: "8-K"
ticker: "FBNC"
cik: "0000811589"
company_name: "FIRST BANCORP /NC/"
filed_at: "2024-07-24T23:59:59+00:00"
generated_at: "2026-05-31T17:40:39.210469+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First Bancorp Q2 net income $28.7M ($0.70 EPS); NIM expands to 2.87%

## Summary
- Net income $28.7M ($0.70 diluted EPS), up from $25.3M ($0.61) linked quarter; vs $29.4M ($0.71) year ago.
- Tax-equivalent NIM rose 7 bps to 2.87% (linked qtr 2.80%); loan yield increased to 5.50%.
- Customer deposits grew $336.6M; brokered deposits fell $152M; total deposits up $184.5M to $10.49B.
- Nonperforming assets ratio 0.37% (down 2 bps linked); annualized net charge-offs 0.07%.
- Estimated total risk-based capital ratio 16.23% (up from 15.85%); tangible common equity ratio 7.76%.

## SEC filing metadata
- accession: 0000811589-24-000050
- form_type: 8-K
- ticker: FBNC
- cik: 0000811589
- company_name: FIRST BANCORP /NC/
- filed_at: 2024-07-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811589/000081158924000050/0000811589-24-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811589/000081158924000050/fbnc-20240724.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000811589-24-000050
- JSON: https://secwatch.observer/filing/0000811589-24-000050.json
- Plain text: https://secwatch.observer/filing/0000811589-24-000050.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.