secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /NC/ (FBNC)
CIK:        0000811589
Form:       8-K
Filed at:   2025-01-29T23:59:59+00:00
Accession:  0000811589-25-000002
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811589/000081158925000002/0000811589-25-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811589/000081158925000002/fbnc-20250129.htm
  HTML page:      https://secwatch.observer/filing/0000811589-25-000002

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