First Bank

First Bancorp is the bank holding company for First Bank. The Bank is engaged in a full range of banking activities, with the acceptance of deposits and the making of loans being our most basic activities. First Bank offers deposit products such as checking, savings, and money market accounts, as well as time deposits, including various types of certificates of deposits and individual retirement accounts. The Bank provides loans for a wide range of consumer and commercial purposes, including loans for business, agriculture, real estate, personal uses, home improvement, and automobiles. First Bank offers SBA loans to small business owners across the nation. It also offers credit cards, debit cards, letters of credit, safe deposit box rentals and electronic funds transfer services, including wire transfers.
In addition, First Bank offers internet banking, mobile banking, cash management and bank-by-phone capabilities to our customers, and are affiliated with ATM networks that give our customers access to thousands of ATMs across the country, with no surcharge fee. The Bank also offers a mobile check deposit feature for our mobile banking customers that allows them to securely deposit checks via their smartphone. For its business customers, the Bank offers remote deposit capture, which provides them with a method to electronically transmit checks received from customers into their bank account without having to visit a branch.

Type
Public
HQ
Southern Pines, US
Founded
1935
First Bank was founded in 1935 and is headquartered in Southern Pines, US

First Bank Office Locations

First Bank has offices in Southern Pines, Aberdeen, Albemarle, Spring Lake and in 62 other locations
Southern Pines, US (HQ)
300 Sw Broad St
Winston Salem, US
5610 University Pkwy
Winston Salem, US
5002 Peters Creek Pkwy
Winston Salem, US
401 Knollwood St
Winston Salem, US
312 Jonestown Rd
Wilmington, US
201 Market St

First Bank Data and Metrics

First Bank Financial Metrics

First Bank's revenue was reported to be $46.3 m in Q1, 2017
USD

Revenue (Q1, 2017)

46.3 m

Gross profit (Q1, 2017)

44.1 m

Gross profit margin (Q1, 2017), %

95%

Net income (Q1, 2017)

7.6 m

EBIT (Q1, 2017)

33.6 m

Market capitalization (20-Jul-2017)

140.5 m

Closing share price (20-Jul-2017)

12.1

Cash (31-Mar-2017)

405.2 m
First Bank's current market capitalization is $140.5 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

630.3 m695.3 m686.9 m673.2 m

Revenue growth, %

10%(1%)(2%)

Cost of goods sold

103.3 m101.2 m

Gross profit

583.6 m572.1 m

Gross profit Margin, %

85%85%

Operating expense total

415 m378.3 m

EBIT

271.2 m408.5 m502.3 m484.1 m

EBIT margin, %

43%59%73%72%

Interest expense

130.8 m115.9 m

Pre tax profit

(159.3 m)91.6 m27.7 m130.3 m

Income tax expense

(5.2 m)300.6 m(6.4 m)(37 m)

Net Income

(164.5 m)392.3 m21.3 m93.2 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

158.3 m168.6 m169.3 m166.7 m169.7 m46.3 m

Cost of goods sold

25.2 m24.9 m26.2 m26.7 m25.4 m2.2 m

Gross profit

133.1 m143.7 m143.1 m140 m144.3 m44.1 m

Gross profit Margin, %

84%85%85%84%85%95%

General and administrative expense

15.1 m15.2 m14.2 m13 m13.9 m14.1 m

Operating expense total

15.1 m15.2 m14.2 m13 m13.9 m14.1 m

EBIT

126.5 m124.9 m124.6 m120.2 m118.2 m33.6 m

EBIT margin, %

80%74%74%72%70%73%

Pre tax profit

(43.9 m)19.2 m29.1 m29.5 m34.5 m11.3 m

Income tax expense

9.8 m(4.5 m)(5.7 m)(7.5 m)(10.4 m)3.8 m

Net Income

12.3 m23.2 m25.6 m(34.1 m)6.3 m23.3 m45.3 m69.4 m7.6 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

223.3 m253.1 m267.3 m306 m

Accounts Receivable

9.2 m9.3 m

PP&E

77.4 m75.1 m74.6 m75.4 m

Goodwill

65.8 m65.8 m65.8 m75 m

Total Assets

3.2 b3.2 b3.4 b3.6 b

Accounts Payable

585 k2.9 b

Total Debt

670 m

Total Liabilities

3.2 b

Preferred Stock

12.8 m

Additional Paid-in Capital

12.5 m926.3 m931.9 m

Retained Earnings

167.1 m185 m205.1 m225.9 m

Total Equity

371.9 m387.7 m342.2 m368.1 m

Debt to Equity Ratio

0.2 x1.8 x

Debt to Assets Ratio

0 x0.2 x

Financial Leverage

8.6 x8.3 x9.8 x9.8 x
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

244.5 m462.9 m742.3 m813.7 m617.8 m518.8 m405.2 m

PP&E

75.6 m164.6 m162.7 m159.2 m155.6 m154.2 m97.1 m

Goodwill

65.8 m65.8 m65.8 m67.5 m73.5 m75.4 m142.9 m

Total Assets

3.2 b12.6 b12.8 b12.7 b12.5 b12.1 b4.4 b

Accounts Payable

2.7 b9.5 b9.7 b9.4 b9.2 b9 b3.6 b

Additional Paid-in Capital

923.8 m925.1 m927.5 m928.9 m930.4 m933 m

Retained Earnings

190.2 m708.2 m723 m761.3 m783.2 m219.2 m231.5 m

Total Equity

393.2 m1.7 b1.7 b1.7 b1.8 b1.8 b489.5 m

Financial Leverage

8.2 x7.5 x7.5 x7.3 x7 x6.7 x9.1 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(164.5 m)392.3 m27 m27.5 m

Depreciation and Amortization

21.1 m17.6 m

Accounts Receivable

(246 k)(120 k)

Accounts Payable

129.2 m115.2 m(101 k)(4 k)

Cash From Operating Activities

71.9 m47.8 m37.4 m47.5 m

Purchases of PP&E

(65.7 m)(69.4 m)(95.8 m)(114.4 m)

Cash From Investing Activities

45 m(43.8 m)439 m(246.3 m)

Dividends Paid

(223 k)

Cash From Financing Activities

(135.2 m)7.8 m114.8 m237.6 m

Interest Paid

11.4 m8.4 m7 m7.7 m

Income Taxes Paid

1.1 m5.1 m13.8 m11.8 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

12.3 m23.2 m25.6 m(34.1 m)6.3 m23.3 m45.3 m69.4 m7.6 m

Depreciation and Amortization

10.6 m15.9 m4.6 m9 m13.4 m4.1 m

Accounts Receivable

(214 k)(88 k)14 k381 k

Accounts Payable

(101 k)159 m144.2 m1.7 m3.3 m2.3 m(26.6 m)(20 k)(112 k)

Cash From Operating Activities

8.5 m36.9 m3.1 m132.7 m199.1 m54.3 m82.2 m119.1 m662 k

Purchases of PP&E

(17.5 m)(57.4 m)(30.5 m)(158.9 m)(161.4 m)(62.8 m)(279.5 m)(99.9 m)(29.3 m)

Cash From Investing Activities

105.5 m83.7 m458.6 m461.6 m131.5 m115.5 m224.2 m82.1 m

Long-term Borrowings

(100 m)

Dividends Paid

(669 k)

Cash From Financing Activities

70 m(7.4 m)(4.1 m)(18.4 m)34.5 m14 m77.8 m(566.8 m)94.9 m

Interest Paid

4.4 m6.5 m1.8 m3.5 m5.3 m5.7 m

Income Taxes Paid

421 k3 m6.2 m9.1 m11.1 m(4.3 m)(933 k)10.5 m(1.5 m)
Y, 2017

Financial Leverage

9.1 x

First Bank Market Value History

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