secwatch.observer — SEC 8-K summary
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Issuer:     FIRST BANCORP /NC/ (FBNC)
CIK:        0000811589
Form:       8-K
Filed at:   2025-04-23T23:59:59+00:00
Accession:  0000811589-25-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Bancorp Q1 net income $36.4M ($0.88 EPS), NIM expands 47bp YoY to 3.27%
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- Net income $36.4M ($0.88 D-EPS) vs $3.6M ($0.08) linked quarter and $25.3M ($0.61) year ago; adjusted D-EPS $0.84.
- NIM-T/E expanded to 3.27% (up 19bp linked, 47bp YoY); net interest income $92.9M, up 17.2% YoY.
- Noninterest expenses $57.9M, down $1.3M YoY; FTE employees reduced by 18 to 1,353.
- Loan growth $8.4M to $8.1B; deposits grew $214.1M to $10.7B; NPAs 0.27% of assets, net charge-offs 0.17%.
- Common equity tier 1 ratio 14.53% (est.), up 18bp linked; repurchased 24,849 shares for $1.0M in Q1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811589/000081158925000019/0000811589-25-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811589/000081158925000019/fbnc-20250423.htm
  HTML page:      https://secwatch.observer/filing/0000811589-25-000019

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer