First Bancorp Announces Cash Dividend

Rhea-AI Summary

On March 15, 2023, First Bancorp (NASDAQ: FBNC) declared a cash dividend of $0.22 per share, payable on April 25, 2023, to shareholders of record by March 31, 2023. CEO Richard Moore emphasized the company’s strong capital position, allowing continuation of this dividend to enhance shareholder value. First Bancorp, headquartered in Southern Pines, NC, has total assets of approximately $12 billion and operates 118 branches across North Carolina and South Carolina. The company is involved in SBA lending through its nationwide network.

Positive

• Declaration of a cash dividend of $0.22 per share reflects commitment to shareholder value.
• Strong capital position supports dividend payments and indicates financial stability.

Negative

• None.

SOUTHERN PINES, N.C., March 15, 2023 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ: FBNC) (the "Company"), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on April 25, 2023 to shareholders of record as of March 31, 2023. 

Richard Moore, Chief Executive Officer of First Bancorp, stated, "We are pleased to enhance shareholder value with the continuation of this dividend on our common stock. The Company's capital position is strong and allows us the opportunity to provide a return to our shareholders."

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of approximately $12 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 118 branches in North Carolina and South Carolina.  First Bank also provides SBA loans to customers through its nationwide network of lenders - for more information on First Bank's SBA lending capabilities, please visit www.firstbanksba.com.  First Bancorp's common stock is traded on the NASDAQ Global Select Market under the symbol "FBNC."  Please visit our website at www.LocalFirstBank.com.

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SOURCE First Bancorp

FAQ

What is the dividend amount declared by FBNC?

The dividend amount declared by First Bancorp (FBNC) is $0.22 per share.

When will the dividend for FBNC be paid?

The dividend will be paid on April 25, 2023.

What is the record date for FBNC's dividend?

The record date for First Bancorp's dividend is March 31, 2023.

How does the dividend impact FBNC shareholders?

The dividend enhances shareholder value and indicates the company's strong financial position.

What is First Bancorp's total asset value?

First Bancorp has total assets of approximately $12 billion.