First Bancorp (FBNC)

First Bancorp reported strong Q2 2025 financial results with increased net income and an expanded net interest margin, and increased its quarterly dividend. The company announced an increase in its quarterly cash dividend to $0.23 per share. The company maintained strong capital and liquidity during Q3 2025, delivering increases in adjusted net income and adjusted EPS. G. Adam Currie was appointed to the Boards of Directors of both First Bank and First Bancorp. Bridget Welborn joined First Bank as Chief Risk Officer and Head of Legal. First Bancorp declared a cash dividend of $0.23 per share. First Bancorp reported strong fourth-quarter and full-year 2025 earnings growth, and increased its quarterly cash dividend to US$0.24 per share. Mary Clara Capel retired as a director. Piper Sandler downgraded First Bancorp to Neutral from Overweight with a price target of $64.

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First Bancorp, headquartered in Southern Pines, North Carolina, is a bank holding company with approximately $12.8 billion in total assets. It operates primarily through First Bank, a state-chartered community bank established in 1935, offering a range of banking products and services for individuals and businesses, including deposit products, lending services, and investment and insurance products.

First Bank, a subsidiary of First Bancorp, operates 113 branches across North Carolina and South Carolina. Branches are located in cities such as Asheville, Charlotte, Winston-Salem, and Wilmington in North Carolina, and Greenville, Greer, Anderson, Fountain Inn, Columbia, Orangeburg, Charleston, Cheraw, Dillon, Florence, Blacksburg, and Rock Hill in South Carolina. The company has also expanded its footprint through acquisitions, including into Virginia in the past. As of 2023, First Bancorp had 118 branches.

First Bancorp maintains a strong brand presence in the Southeast banking sector, characterized by a client-centric approach and a focus on community involvement. News and events have primarily highlighted strong financial performance, consistent net income growth, and dividend increases. Leadership appointments and board transitions also occurred. There were no widely reported negative events that significantly impacted First Bancorp's brand reputation during this period, beyond a recent analyst downgrade.

Institutional investors hold a significant portion of First Bancorp's stock, with approximately 72.93% owned by institutions and 3.5% by insiders. Major institutional holders include BlackRock, Inc., The Vanguard Group, Inc., FMR LLC, Dimensional Fund Advisors LP, State Street Global Advisors, Inc., and Franklin Resources, Inc. Key individual owners and executives include Richard H. Moore, Michael G. Mayer, and G. Adam Currie.