---
schema_version: "secwatch.filing_event.v1"
accession: "0000811589-26-000065"
form_type: "8-K"
ticker: "FBNC"
cik: "0000811589"
company_name: "FIRST BANCORP /NC/"
filed_at: "2026-04-22T23:59:59+00:00"
generated_at: "2026-05-15T04:59:28.106490+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# First Bancorp Q1 net income $46.7M, EPS $1.13; NIM expands 42 bps YoY

## Summary
- Net income $46.7M ($1.13 D-EPS) vs $15.7M ($0.38) linked quarter and $36.4M ($0.88) year ago.
- Net interest margin 3.67%, up 9 bps from Q4 2025 and 42 bps from Q1 2025.
- Total loans $8.79B, up $71.4M (3.3% annualized); adjusting for one seasonal paydown, loan growth 5.9% annualized.
- Noninterest expenses $60.2M, down $1.8M from linked quarter; efficiency ratio 49.05%.
- Tangible book value per share $29.01, up from $28.23 at year-end 2025 and $24.69 a year ago.

## SEC filing metadata
- accession: 0000811589-26-000065
- form_type: 8-K
- ticker: FBNC
- cik: 0000811589
- company_name: FIRST BANCORP /NC/
- filed_at: 2026-04-22T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/811589/000081158926000065/0000811589-26-000065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/811589/000081158926000065/fbnc-20260422.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000811589-26-000065
- JSON: https://secwatch.observer/filing/0000811589-26-000065.json
- Plain text: https://secwatch.observer/filing/0000811589-26-000065.txt

## Key facts
- Earnings Releases
  FIRST BANCORP /NC/ reported the three months ended March 31, 2026 results: net income $46.7 million, EPS $1.13.
  - Period: the three months ended March 31, 2026
  - Net income: $46.7 million
  - EPS: $1.13
  - Result: reported results
  source text: The Company announced net income of $46.7 million, or $1.13 diluted earnings per share ("D-EPS"), for the three months ended March 31, 2026
  evidence_url: https://www.sec.gov/Archives/edgar/data/811589/000081158926000065/0000811589-26-000065-index.htm

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