Key Highlights

  • The board declared a $0.24 quarterly Dividend on September 15, 2026, payable October 23 to holders of record September 30.
  • Second-quarter Net Income was $50.5 million, or $1.22 per diluted share, compared with $38.6 million, or $0.93, a year earlier.
  • Net interest Margin was 3.71%, compared with 3.67% in the first quarter and 3.32% in the second quarter of 2025.
  • Total loans were $9.0 billion and total deposits were $11.1 billion at June 30, 2026.

Overview

First Bancorp (NASDAQ:FBNC) declared a $0.24 quarterly dividend on September 15, 2026, payable October 23 to holders of record on September 30. The dividend yields 1.51% and is the third $0.24 declaration of 2026, following March and June. Second-quarter net income was $50.5 million, or $1.22 per diluted share.

Dividend Program and Shareholder Returns

The board declared a Cash Dividend of $0.24 per share on September 15, 2026, payable October 23 to shareholders of record on September 30. It trades ex-dividend on September 30.

The board declared $0.24 per share on March 13, 2026, payable April 27, and $0.24 per share on June 12, 2026, payable July 24. In March, the board cited fourth-quarter performance, solid Capital and liquidity, and stable Credit quality. In June, it cited an expanding net interest margin, stable credit quality and continued expense controls.

The company's chief executive said the September declaration reflects continued solid financial performance, stable credit quality, and capital and Liquidity positions in the second quarter of 2026. Each dividend remains subject to board approval.

About the Company

First Bancorp is the Parent Company of First Bank and is headquartered in Southern Pines, North Carolina. Its common stock trades on the Nasdaq Global Select Market. Its Earnings come primarily from net interest income, supplemented by fee income. Loan growth, deposit pricing and credit quality influence results.

Second-Quarter Earnings and Balance Sheet

Net income was $50.5 million, or $1.22 per diluted share, compared with $46.7 million, or $1.13, in the first quarter and $38.6 million, or $0.93, in the second quarter of 2025.

Net interest margin was 3.71%, compared with 3.67% in the first quarter and 3.32% a year earlier. Total loans were $9.0 billion and total deposits were $11.1 billion at June 30, 2026, and total Assets were $13.0 billion.

Loan Growth, Margin Drivers and Credit Quality

Net interest income was $111.3 million, an increase of 3.9% from the linked quarter. The company attributed the linked-quarter expansion in net interest margin to a $114.9 million increase in average loans along with a 10 basis point expansion in loan yield.

Total loans increased $194.9 million, or 8.9% annualized, from March 31, 2026, and total deposits increased $72.4 million, or 2.6% annualized. The company recorded $1.2 million in provision for credit losses.

Annualized net loan charge-offs were 0.04% for the quarter. Total nonperforming assets were $44.9 million, or 0.34% of total assets. Noninterest expenses were $62.8 million, compared with $60.2 million in the linked quarter, and the estimated total risk-based capital ratio was 16.06%.

Outlook

Net interest margin, loan growth, deposit costs, credit quality, noninterest expenses, and the board's quarterly declarations are the relevant considerations. Second-quarter results are the most recent reported period.