---
schema_version: "secwatch.filing_event.v1"
accession: "0000811589-25-000002"
form_type: "8-K"
ticker: "FBNC"
cik: "0000811589"
company_name: "FIRST BANCORP /NC/"
filed_at: "2025-01-29T23:59:59+00:00"
generated_at: "2026-05-27T07:40:33.264976+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First Bancorp Q4 GAAP EPS $0.08 reflects $36.8M securities loss; adjusted EPS $0.76, up from $0.70 linked quarter

## Summary
- Q4 2024 net income $3.6M vs $18.7M linked quarter; adjusted net income $31.7M, adjusted diluted EPS $0.76.
- Sold $280M of 1.56% securities at $36.8M loss; reinvested $495M at 5.27% to boost future NIM.
- Tax-equivalent NIM expanded 17 bps to 3.07% from linked quarter; cost of deposits fell 19 bps to 1.57%.
- Hurricane Helene pretax charge of $13.4M ($10.3M after-tax) with loan exposure of $744M in impacted areas.
- Full-year 2024 adjusted EPS $2.77 vs prior-year GAAP $2.53; CET1 ratio 14.33% (est.).

## SEC filing metadata
- accession: 0000811589-25-000002
- form_type: 8-K
- ticker: FBNC
- cik: 0000811589
- company_name: FIRST BANCORP /NC/
- filed_at: 2025-01-29T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/811589/000081158925000002/0000811589-25-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811589/000081158925000002/fbnc-20250129.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000811589-25-000002
- JSON: https://secwatch.observer/filing/0000811589-25-000002.json
- Plain text: https://secwatch.observer/filing/0000811589-25-000002.txt

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