Last $17.26 USD
Change Today +0.08 / 0.47%
Volume 46.8K
As of 8:10 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

first bancorp/nc (FBNC) Snapshot

Open
$17.30
Previous Close
$17.18
Day High
$17.35
Day Low
$17.01
52 Week High
03/20/14 - $19.65
52 Week Low
12/13/13 - $15.41
Market Cap
340.1M
Average Volume 10 Days
28.3K
EPS TTM
$1.16
Shares Outstanding
19.7M
EX-Date
09/26/14
P/E TM
14.9x
Dividend
$0.32
Dividend Yield
1.85%
Current Stock Chart for FIRST BANCORP/NC (FBNC)

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first bancorp/nc (FBNC) Details

First Bancorp operates as the bank holding company for First Bank that provides various banking products and services for individuals and small to medium-sized businesses primarily in North Carolina, Southwestern Virginia, and Northeastern South Carolina. It accepts various deposit products, including checking, savings, and money market accounts, as well as time deposits comprising certificates of deposits and individual retirement accounts. The company also provides loans for various consumer and commercial purposes, such as loans for business, agriculture, real estate, personal uses, home improvement, and automobiles. In addition, it offers credit cards, debit cards, letters of credit, and safe deposit box rental services, as well as electronic funds transfer services consisting of wire transfers; and Internet banking, mobile banking, cash management, bank-by-phone services, ATM, and remote deposit capture services. Further, the company is engaged in the provision of investment and insurance products, which comprise mutual funds, annuities, long-term care insurance, and life insurance, as well as financial planning services; and placement of property and casualty insurance products. It offers access to 67,000 ATMs. As of December 31, 2013, the company operated 96 branches, including 81 branches in North Carolina, 7 branches in South Carolina, and 8 branches in Virginia. First Bancorp was founded in 1934 and is headquartered in Southern Pines, North Carolina.

837 Employees
Last Reported Date: 03/17/14
Founded in 1934

first bancorp/nc (FBNC) Top Compensated Officers

Chief Executive Officer, President, Treasurer...
Total Annual Compensation: $625.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $283.9K
Executive Vice President and Executive Vice P...
Total Annual Compensation: $224.1K
Co-Chief Credit Officer of First Bank and Exe...
Total Annual Compensation: $215.0K
Compensation as of Fiscal Year 2013.

first bancorp/nc (FBNC) Key Developments

First Bancorp Announces Quarterly Cash Dividend, Payable on October 24, 2014

On September 15, 2014, First Bancorp announced a quarterly cash dividend of $0.08 per share payable on October 24, 2014 to shareholders of record on September 30, 2014. This is the same dividend rate as the Company declared in the third quarter of 2013.

First Bancorp Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

First Bancorp reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company announced net income available to common shareholders of $5.4 million, or $0.27 per diluted common share, a decrease of 12.3% compared to the $6.1 million, or $0.30 per diluted common share, recorded in the third quarter of 2013. Net interest income amounted to $31.3 million, a 7.1% decrease from the $33.7 million recorded in the third quarter of 2013. Net interest income after provision for loan losses was $29,858,000 compared to $28,747,000 a year ago. Income before income taxes was $8,535,000 compared to $10,651,000 a year ago. Net income was $5,579,000 compared to $6,333,000 a year ago. Return on average assets was 0.66% compared to 0.76% a year ago. Return on average common equity was 6.76% compared to 8.29% a year ago. For the nine months ended September 30, 2014, the company recorded net income available to common shareholders of $17.3 million, or $0.85 per diluted common share, an increase of 20.3% compared to the $14.3 million, or $0.71 per diluted common share, for the nine months ended September 30, 2013. The higher earnings were primarily the result of lower provisions for loan losses. Net interest income amounted to $100.7 million, a 0.6 % decrease from the $101.3 million recorded in the comparable period of 2013. Net interest income after provision for loan losses was $91,967,000 compared to $79,530,000 a year ago. Income before income taxes was $27,581,000 compared to $24,049,000 a year ago. Net income was $17,901,000 compared to $15,021,000 a year ago. Return on average assets was 0.72% compared to 0.60% a year ago. Return on average common equity was 7.44% compared to 6.60% a year ago.

First Bancorp Announces Cash Dividend Payable October 24, 2014

The Board of Directors of First Bancorp has declared a cash dividend on its common stock of $0.08 per share payable October 24, 2014 to shareholders of record as of September 30, 2014. The $0.08 per share dividend rate is the same as the rate declared in the comparable period of 2013.

 

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Industry Analysis

FBNC

Industry Average

Valuation FBNC Industry Range
Price/Earnings 15.6x
Price/Sales 2.5x
Price/Book 1.1x
Price/Cash Flow 14.4x
TEV/Sales NM Not Meaningful
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