News & Events zu First Bancorp (North Carolina) (FBNC)FBNCFirst Bancorp (North Carolina)

First Bancorp Q2 Net Interest Margin at 3.71%

Reports Q2 net interest margin 3.71%, up 0.04% from the linked quarter and 0.39% from the like quarter. Reports tangible book value per common share $29.84 vs. $29.01 at previous quarter end. CEO Richard Moore stated, "First Bancorp continued to build on its positive start to 2026 with strong Q2 financial results driven by continued margin expansion, prudent balance sheet execution, high quality loans and a controlled efficiency ratio. Earnings continue to benefit from the repositioning of lower-yielding assets into higher-yielding opportunities, while our liquidity position, capital levels, and credit quality remain strong. We are pleased with our performance through the first half of the year and remain confident in our ability to sustain positive momentum and deliver continued success in 2026. We are excited about the acquisition of First Carolina which brings talented bankers and will help us accelerate our South Carolina growth expansion."

First Bancorp to Acquire First Carolina for $166M

First Bancorp (FBNC) and First Carolina (FCBM) signed a definitive merger agreement under which First Bancorp will acquire First Carolina in a stock and cash transaction with an aggregate value of $166M, based on First Bancorp's stock price of $64.22 as of July 13. The consideration payable to First Carolina shareholders consists of 1,967,017 shares of First Bancorp common stock and $40M in cash. The merger agreement is expected to close in 4Q26 or early in 1Q27, subject to customary closing conditions, including First Carolina shareholder approval and regulatory approval. Carolina Bank is a privately held community bank headquartered in Florence, South Carolina with approximately $831M in assets. Founded in 1936, the Bank has had a presence in the Pee Dee region of South Carolina and operates 14 branches across six counties in the state. Carolina Bank is one of the top-performing community banks based in the Carolinas with an LTM return on average assets of 1.60% for the twelve months ended March 31, 2026.

First Bancorp Reports Strong Q1 2026 Performance

Richard Moore, Chairman and CEO of the company, stated, "First Bancorp delivered a strong start to 2026 with financial performance that underscores the benefit of our balance sheet management activities, continued margin expansion, and prudent expense control. Earnings continue to benefit from the repositioning of lower-yielding assets into higher-yielding opportunities, while our liquidity, capital and credit quality remain strong. We are highly encouraged by our first quarter performance and remain confident in our ability to sustain momentum and drive continued success in 2026."