First Bancorp Announces Cash Dividend

Rhea-AI Summary

The Board of Directors of First Bancorp (NASDAQ: FBNC) has declared a cash dividend of $0.22 per share, payable on July 25, 2024, to shareholders of record as of June 30, 2024. CEO Richard Moore highlighted the company's strong liquidity, capital, and credit quality during the first quarter of 2024, enabling consistent dividend distribution. First Bancorp, headquartered in Southern Pines, NC, has $12.1 billion in assets and operates 113 branches across North and South Carolina. The company emphasizes a personalized approach to banking and offers SBA loans nationwide through its network of lenders. First Bancorp's stock trades on NASDAQ under the symbol 'FBNC'.

Positive

• Declaration of a $0.22 per share cash dividend indicates strong financial health.
• Increases in liquidity and capital during Q1 2024.
• Strong credit quality as reported by CEO Richard Moore.
• First Bancorp has total assets of $12.1 billion.
• Operates 113 branches, indicating extensive regional presence.

Negative

• No specific mention of revenue or net income figures for Q1 2024.
• Does not address potential risks or uncertainties in the economic environment.

SOUTHERN PINES, N.C., June 14, 2024 /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 July 25, 2024 to shareholders of record as of June 30, 2024. 

Richard Moore, Chief Executive Officer of First Bancorp, stated, "Your company continued to perform well during the first quarter of 2024 with increases in our liquidity and capital along with strong credit quality.  We are pleased that our financial performance and capital position allow us to continue distributing the level of cash dividend providing our shareholders with a valuable return on their investments."

 

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of $12.1 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 113 branches in North Carolina and South Carolina.  Since 1935, First Bank has taken a tailored approach to banking, combining best-in-class financial solutions, helpful local expertise, and technology to manage a home or business.  First Bank also provides SBA loans to customers through its nationwide network of lenders.

Please visit our website at www.LocalFirstBank.com for more information.

First Bancorp's common stock is traded on The NASDAQ Global Select Market under the symbol "FBNC." Member FDIC, Equal Housing Lender.

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SOURCE First Bancorp

FAQ

What is the dividend declared by First Bancorp for 2024?

First Bancorp declared a cash dividend of $0.22 per share, payable on July 25, 2024.

When is the record date for First Bancorp's dividend?

The record date for First Bancorp's dividend is June 30, 2024.

What are First Bancorp's total assets?

First Bancorp has total assets of $12.1 billion.

How many branches does First Bancorp operate?

First Bancorp operates 113 branches in North Carolina and South Carolina.

What is the stock symbol for First Bancorp?

First Bancorp's stock trades under the symbol 'FBNC' on NASDAQ.