First Bancorp Announces Cash Dividend

Rhea-AI Summary

First Bancorp (NASDAQ: FBNC) has declared a cash dividend of $0.22 per share, representing a 10% increase from the previous year's $0.20. This dividend is payable on January 25, 2023, to shareholders on record as of December 31, 2022. CEO Richard Moore emphasized the Board's commitment to enhancing shareholder value aligned with the company's strong capital position. First Bancorp boasts total assets of approximately $10.5 billion and operates 108 branches primarily in North and South Carolina.

Positive

• Dividend increased to $0.22, up 10% from $0.20
• Total assets approximately $10.5 billion
• Strong commitment to enhancing shareholder value

Negative

• None.

SOUTHERN PINES, N.C., Dec. 15, 2022 /PRNewswire/ -- The Board of Directors of First Bancorp (NASDAQ - FBNC), the parent company of First Bank, has declared a cash dividend on its common stock of $0.22 per share payable on January 25, 2023 to shareholders of record as of December 31, 2022.  The $0.22 dividend rate represents a 10% increase over the dividend rate of $0.20 paid in the comparable period of 2021.

 "The increased dividend reflect the Board and management's commitment to enhancing shareholder value when the Company's capital position allows us the opportunity to do so," stated Richard Moore, Chief Executive Officer of First Bancorp.

First Bancorp is a bank holding company headquartered in Southern Pines, North Carolina, with total assets of approximately $10.5 billion. Its principal activity is the ownership and operation of First Bank, a state-chartered community bank that operates 108 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 First Bancorp (FBNC)?

First Bancorp has declared a cash dividend of $0.22 per share.

When will the dividend be paid to shareholders of FBNC?

The dividend will be paid on January 25, 2023.

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

The record date for the dividend is December 31, 2022.

How much did the dividend increase compared to last year?

The dividend increased by 10% from $0.20 to $0.22.