---
schema_version: "secwatch.filing_event.v1"
accession: "0000811589-24-000061"
form_type: "8-K"
ticker: "FBNC"
cik: "0000811589"
company_name: "FIRST BANCORP /NC/"
filed_at: "2024-10-23T23:59:59+00:00"
generated_at: "2026-05-30T11:18:07.380683+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Bancorp Q3 net income $18.7M ($0.45 EPS); $13M Hurricane Helene provision

## Summary
- Net income $18.7M vs $28.7M linked quarter; adjusted net income $29.0M ($0.70) excluding Helene charges.
- Recorded $13.0M incremental provision for credit losses related to Hurricane Helene; total provision $14.2M.
- NIM (tax-equivalent) 2.90%, up 3 bps from linked quarter; total cost of funds steady at 1.81%.
- Nonperforming assets to total assets 0.38%, up slightly from 0.37% linked quarter.
- Loans $8.0B down 0.6% linked quarter; deposits grew $17.1M with brokered deposits declining.

## SEC filing metadata
- accession: 0000811589-24-000061
- form_type: 8-K
- ticker: FBNC
- cik: 0000811589
- company_name: FIRST BANCORP /NC/
- filed_at: 2024-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811589/000081158924000061/0000811589-24-000061-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811589/000081158924000061/fbnc-20241023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000811589-24-000061
- JSON: https://secwatch.observer/filing/0000811589-24-000061.json
- Plain text: https://secwatch.observer/filing/0000811589-24-000061.txt

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