secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /NC/ (FBNC)
CIK:        0000811589
Form:       8-K
Filed at:   2024-07-24T23:59:59+00:00
Accession:  0000811589-24-000050
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811589/000081158924000050/0000811589-24-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811589/000081158924000050/fbnc-20240724.htm
  HTML page:      https://secwatch.observer/filing/0000811589-24-000050

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