Last $16.60 USD
Change Today -0.62 / -3.60%
Volume 51.0K
As of 8:10 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

first bancorp/nc (FBNC) Key Developments

First Bancorp Names Rex M. Scott as Chief Operating Officer and Executive Vice President of First Bancorp and First Bank

On December 16, 2014, the Board of Directors of First Bancorp named Rex M. Scott as the Chief Operating Officer and an Executive Vice President of First Bancorp and of First Bank, the principal subsidiary of First Bancorp. Mr. Scott, age 59, has been with First Bancorp and First Bank since 2011. He joined First Bank in October 2011 as an information technology officer and was named Chief Information Officer of First Bank in October 2012. Prior to joining First Bank, Mr. Scott served as the Chief Operations Officer for CapStone Bank.

First Bancorp Declares Cash Dividend Payable on January 23, 2015

The Board of Directors of First Bancorp has declared a cash dividend on its common stock of $0.08 per share payable January 23, 2015 to shareholders of record as of December 31, 2014. The $0.08 per share dividend rate is the same as the rate declared in the comparable period of 2013.

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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FBNC

Industry Average

Valuation FBNC Industry Range
Price/Earnings 14.1x
Price/Sales 2.4x
Price/Book 1.0x
Price/Cash Flow 13.1x
TEV/Sales NM Not Meaningful
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