A Business at a Glance
0 of 1 daily views used (1 remaining). Sign up free for +5 more daily views (6 total), or try AAPL for a full preview.
FIRST BANCORP /NC/
FBNC
$2.6B
Mkt Cap
$62.74
-0.84%
FIRST BANCORP /NC/ (FBNC) has a current P/E ratio of 23.4, compared to its historical median P/E of 13.7. The stock is currently considered Expensive based on its historical valuation range.
FIRST BANCORP /NC/ (FBNC) has a 5-year average return on invested capital (ROIC) of 7.4%. This is below average and may indicate limited pricing power.
FIRST BANCORP /NC/ (FBNC) has a market capitalization of $2.6B. It is classified as a mid-cap stock.
Yes, FIRST BANCORP /NC/ (FBNC) pays a dividend with a trailing twelve-month yield of 1.45%. The company also returns capital through share buybacks, with a buyback yield of 0.20%.
Based on historical P/E analysis, FIRST BANCORP /NC/ (FBNC) appears expensive. The current P/E of 23.4 is 71% above its historical median of 13.7. The estimated fair value CAGR (P/E method) is -2.8%.
FIRST BANCORP /NC/ (FBNC) operates in the State Commercial Banks industry, within the Financials sector.
FIRST BANCORP /NC/ (FBNC) reported annual revenue of $549 million in its most recent fiscal year, based on SEC EDGAR filings.
General Description The Company is the fourth largest commercial bank holding company headquartered in North Carolina. At December 31, 2025, the Company had total consolidated assets of $12.7 billion, total loans of $8.7 billion, total deposits of $10.7 billion, and shareholders’ equity of $1.7 billion. Our principal activity is the ownership and operation of the Bank, a state-chartered bank with its headquarters in Southern Pines, North Carolina, through which we engage in a full range of banking activities. Our principal executive offices are located at 205 SE Broad St., Southern Pines, North Carolina 28387, and our telephone number is (910) 246-2500. The Company was incorporated in North Carolina on December 8, 1983 for the purpose of acquiring 100% of the outstanding common stock of the Bank through a stock-for-stock exchange. The Bank began banking operations in 1935 as the Bank of Montgomery, named for the county in which it originally operated.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 407M | 549M | 537M | 546M | 409M | 330M |
| Net Income | 121M | 110M | 76M | 103M | 146M | 95M |
| EPS | $2.91 | $2.68 | $1.84 | $2.53 | $4.12 | $3.19 |
| Free Cash Flow | 206M | 199M | 172M | 127M | 225M | 133M |
| ROIC | 0.0% | 6.8% | 4.3% | 6.2% | 11.2% | 8.4% |
| Gross Margin | - | 69.0% | 62.1% | 70.7% | 93.0% | 92.5% |
| Debt/Equity | 0.05 | 0.05 | 0.07 | 0.84 | 0.49 | 0.06 |
| Dividends/Share | $0.91 | $0.91 | $0.88 | $0.88 | $0.88 | $0.80 |
| Operating Income | 0 | 140M | 98M | 132M | 185M | 120M |
| Operating Margin | 0.0% | 25.4% | 18.3% | 24.2% | 45.3% | 36.5% |
| ROE | 7.2% | 7.1% | 5.4% | 8.6% | 12.9% | 9.0% |
| Shares Outstanding | 41M | 41M | 41M | 41M | 35M | 30M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 154M | 145M | 157M | 227M | 290M | 310M | 319M | 330M | 409M | 546M | 537M | 549M | 407M |
| Gross Margin | 88.1% | 94.7% | 95.1% | 94.1% | 90.6% | 88.3% | 82.9% | 92.5% | 93.0% | 70.7% | 62.1% | 69.0% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 55M | 57M | 63M | 82M | 92M | 96M | 101M | 103M | 118M | 140M | 140M | 144M | 146M |
| EBIT | 39M | 41M | 42M | 68M | 113M | 116M | 103M | 120M | 185M | 132M | 98M | 140M | 0 |
| Op. Margin | 25.0% | 28.3% | 26.9% | 29.9% | 39.1% | 37.6% | 32.3% | 36.5% | 45.3% | 24.2% | 18.3% | 25.4% | 0.0% |
| Net Income | 24M | 26M | 27M | 46M | 89M | 92M | 81M | 95M | 146M | 103M | 76M | 110M | 121M |
| Net Margin | 15.6% | 18.2% | 17.5% | 20.3% | 30.8% | 29.6% | 25.4% | 28.9% | 35.7% | 18.9% | 14.1% | 20.1% | 29.7% |
| Non-Recurring | 512K | 221K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 6.4% | 7.2% | 7.7% | 6.2% | 7.9% | 7.9% | 7.7% | 8.4% | 11.2% | 6.2% | 4.3% | 6.8% | 0.0% |
| ROE | 6.4% | 7.2% | 7.7% | 8.7% | 12.3% | 11.3% | 9.3% | 9.0% | 12.9% | 8.6% | 5.4% | 7.1% | 7.2% |
| ROA | 0.8% | 0.8% | 0.8% | 1.0% | 1.6% | 1.5% | 1.2% | 1.1% | 1.4% | 0.9% | 0.6% | 0.9% | 0.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 48M | 37M | 41M | 27M | 46M | 51M | 58M | 142M | 231M | 131M | 175M | 203M | 212M |
| Free Cash Flow | 43M | 32M | 33M | 22M | 36M | 48M | 46M | 133M | 225M | 127M | 172M | 199M | 206M |
| Owner Earnings | 42M | 31M | 35M | 16M | 33M | 38M | 46M | 130M | 217M | 111M | 155M | 187M | 131M |
| CapEx | 4.8M | 5.5M | 8.7M | 4.7M | 11M | 3.5M | 12M | 9.4M | 5.3M | 4.4M | 2.7M | 4.2M | 5.9M |
| Maint. CapEx | 5.4M | 5.2M | 5.8M | 9.5M | 12M | 11M | 9.8M | 9.7M | 11M | 16M | 14M | 12M | 77M |
| Growth CapEx | 0 | 265K | 2.9M | 0 | 0 | 0 | 2.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 5.4M | 5.2M | 5.8M | 9.5M | 12M | 11M | 9.8M | 9.7M | 11M | 16M | 14M | 12M | 77M |
| CapEx/OCF | 9.9% | 14.7% | 21.1% | 17.4% | 23.1% | 6.9% | 21.7% | 6.6% | 2.3% | 3.4% | 1.5% | 2.1% | 2.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 6.3M | 6.3M | 6.4M | 7.6M | 11M | 14M | 21M | 22M | 31M | 35M | 36M | 37M | 38M |
| Dividend Yield | 2.2% | 2.2% | 1.9% | 1.1% | 1.2% | 1.5% | 3.1% | 1.9% | 2.3% | 2.7% | 2.4% | 2.0% | 1.5% |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 10M | 32M | 4.0M | 0 | 0 | 0 | 991K | 5.1M |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 1.0% | 3.6% | 0.3% | N/A | N/A | N/A | 0.0% | 0.2% |
| Stock-Based Comp | 270K | 710K | 714K | 1.1M | 1.6M | 2.3M | 2.5M | 2.3M | 3.0M | 5.1M | 4.9M | 3.8M | 3.7M |
| Debt Repayment | 70M | 70M | 85M | 106M | 101M | 51M | 202M | 5.7M | 133K | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | -329M | -305M | -500M | -1.8B | -390M | 238M | 921M | -411M | -232M | -520M |
| Cash & Equiv. | 253M | 267M | 306M | 489M | 463M | 231M | 367M | 461M | 270M | 238M | 508M | 310M | 598M |
| Long-Term Debt | N/A | N/A | N/A | 411M | 407M | 301M | 62M | 67M | 288M | 630M | 92M | 75M | 75M |
| Debt/Equity | 7.30 | 8.83 | 8.82 | 0.73 | 0.86 | 0.65 | 0.07 | 0.06 | 0.49 | 0.84 | 0.07 | 0.05 | 0.05 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 388M | 342M | 368M | 693M | 764M | 852M | 893M | 1.2B | 1.0B | 1.4B | 1.4B | 1.7B | 1.7B |
| Total Assets | 3.2B | 3.4B | 3.6B | 5.5B | 5.9B | 6.1B | 7.3B | 10.5B | 10.6B | 12.1B | 12.1B | 12.7B | 12.9B |
| Total Liabilities | 2.8B | 3.0B | 3.2B | 4.9B | 5.1B | 5.3B | 6.4B | 9.3B | 9.6B | 10.7B | 10.7B | 11.0B | 11.3B |
| Intangibles | 2.1M | 1.3M | 4.4M | 24M | 21M | 17M | 15M | 18M | 13M | 30M | 23M | 17M | 16M |
| Retained Earnings | 185M | 205M | 226M | 264M | 342M | 418M | 478M | 533M | 648M | 716M | 756M | 830M | 866M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 1.19 | 1.30 | 1.33 | 1.82 | 3.01 | 3.10 | 2.81 | 3.19 | 4.12 | 2.53 | 1.84 | 2.68 | 2.91 |
| Owner EPS | 2.08 | 1.55 | 1.69 | 0.64 | 1.11 | 1.30 | 1.59 | 4.37 | 6.12 | 2.70 | 3.77 | 4.54 | 3.17 |
| Book Value | 19.12 | 16.83 | 17.91 | 27.43 | 25.76 | 28.85 | 30.96 | 41.25 | 29.08 | 33.56 | 35.08 | 40.15 | 40.68 |
| Cash Flow/Share | 2.36 | 1.84 | 2.01 | 1.06 | 1.56 | 1.73 | 2.02 | 4.77 | 6.50 | 3.21 | 4.24 | 4.93 | 4.77 |
| Dividends/Share | 0.32 | 0.32 | 0.32 | 0.32 | 0.40 | 0.54 | 0.72 | 0.80 | 0.88 | 0.88 | 0.88 | 0.91 | 0.91 |
| Shares Out. | 20.3M | 20.3M | 20.6M | 25.3M | 29.7M | 29.5M | 28.9M | 29.8M | 35.5M | 40.9M | 41.2M | 41.2M | 41.4M |
| Valuation | |||||||||||||
| P/E Ratio | 12.7 | 12.0 | 17.4 | 16.6 | 9.3 | 11.2 | 10.8 | 13.0 | 9.6 | 14.3 | 23.5 | 19.3 | 21.5 |
| P/FCF | 7.1 | 10.0 | 14.6 | 34.4 | 23.2 | 21.5 | 19.0 | 9.3 | 6.2 | 11.6 | 10.4 | 10.7 | 12.6 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 0.8 | 0.9 | 1.3 | 1.1 | 1.1 | 1.2 | 1.0 | 1.0 | 1.4 | 1.1 | 1.2 | 1.3 | 1.5 |
| Price/Sales | 1.9 | 2.1 | 2.3 | 3.1 | 3.7 | 3.4 | 2.3 | 3.6 | 3.4 | 3.2 | 4.3 | 4.8 | 6.4 |
| FCF Yield | 14.0% | 10.0% | 6.8% | 2.9% | 4.3% | 4.6% | 5.2% | 10.7% | 15.9% | 8.5% | 9.6% | 9.3% | 7.9% |
| Market Cap | 307M | 318M | 476M | 763M | 826M | 1.0B | 880M | 1.2B | 1.4B | 1.5B | 1.8B | 2.1B | 2.6B |
| Avg. Price | 14.03 | 14.13 | 16.59 | 26.54 | 32.81 | 31.64 | 23.53 | 38.28 | 37.39 | 31.47 | 36.57 | 45.68 | 62.74 |
| Year-End Price | 15.13 | 15.62 | 23.16 | 30.19 | 27.86 | 34.66 | 30.35 | 41.59 | 39.67 | 36.11 | 43.32 | 51.84 | 62.74 |
FIRST BANCORP /NC/ passes 3 of 9 quality checks, indicating weak fundamentals.
FIRST BANCORP /NC/ trades at 23.4x trailing earnings, compared to its 15-year median P/E of 13.7x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.1x vs a median of 13.1x. The company's 5-year average ROIC is 7.4% with a gross margin of 77.5%. Total shareholder yield (dividends + buybacks) is 1.7%. At current prices, the estimated annualized return to fair value is +20.1%.
FIRST BANCORP /NC/ (FBNC) has a net profit margin of 20.1%. This is a strong margin indicating high profitability.
FIRST BANCORP /NC/ (FBNC) generated $199 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
FIRST BANCORP /NC/ (FBNC) has a debt-to-equity ratio of 0.05. This indicates a conservatively financed balance sheet.
FIRST BANCORP /NC/ (FBNC) reported earnings per share (EPS) of $2.68 in its most recent fiscal year.
FIRST BANCORP /NC/ (FBNC) has a return on equity (ROE) of 7.1%. This indicates moderate shareholder returns.
FIRST BANCORP /NC/ (FBNC) has a 5-year average gross margin of 77.5%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for FIRST BANCORP /NC/ (FBNC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
FIRST BANCORP /NC/ (FBNC) has a book value per share of $40.15, based on its most recent annual SEC filing.
No recent press releases.