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.

Employee Rating

3.7More
TypePublic
HQSouthern Pines, US
Founded1935
Size (employees)100 (est)
Websitelocalfirstbank.com
First Bank was founded in 1935 and is headquartered in Southern Pines, US
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Key People/Management at First Bank

Eric Credle

Eric Credle

CFO
James Crawford

James Crawford

Chairman
Don Allred

Don Allred

Retired CEO
Mary Clara Capel

Mary Clara Capel

Retired Chairman
Suzanne Deferie

Suzanne Deferie

EVP & Regional President
Richard H. Moore

Richard H. Moore

President
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First Bank Office Locations

First Bank has offices in Southern Pines, Greensboro, Burlington, Winston-Salem and in 64 other locations
Southern Pines, (HQ)
300 SW Broad St
Aberdeen,
105 S Sandhills Blvd
Albemarle,
2317 US-52
Albemarle,
1910 E Main St
Angier,
415 N Raleigh St
Apex,
402 E Williams St
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First Bank Financials and Metrics

First Bank Revenue

First Bank's revenue was reported to be $226.29 m in FY, 2017
USD

Revenue (Q3, 2018)

73.6m

Gross profit (Q3, 2018)

67.2m

Gross profit margin (Q3, 2018), %

91.3%

EBIT (Q3, 2018)

51.8m

Market capitalization (12-Dec-2018)

216.6m

Closing stock price (12-Dec-2018)

11.6

Cash (30-Sep-2018)

510.7m
First Bank's current market capitalization is $216.6 m.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

154.2m145.4m156.5m226.3m

Revenue growth, %

(6%)8%

Cost of goods sold

6.9m7.6m12.7m

Gross profit

138.5m148.9m213.6m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Revenue

36.3m35.6m37.1m39.3m37.4m46.3m54.7m57.4m71.0m72.8m73.6m

Cost of goods sold

1.7m1.7m1.9m1.8m1.9m2.2m2.9m3.4m4.6m5.5m6.4m

Gross profit

34.6m33.9m35.2m37.5m35.5m44.1m51.8m54.0m66.4m67.3m67.2m

Gross profit Margin, %

95%95%95%95%95%95%95%94%94%92%91%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

223.3m253.1m267.3m306.0m489.5m

Accounts Receivable

9.2m9.3m

Inventories

4.0b

PP&E

77.4m75.1m74.6m75.4m116.2m
Quarterly
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Cash

244.5m178.4m218.8m201.6m248.5m281.3m405.2m417.6m408.8m526.7m560.1m510.7m

Inventories

3.4b4.1b4.1b4.2b

PP&E

75.6m75.1m74.8m75.3m77.0m76.7m97.1m96.6m95.8m115.5m113.8m116.6m

Goodwill

65.8m65.8m65.8m67.5m73.5m75.4m142.9m139.1m144.7m231.7m232.5m232.5m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

20.7m392.3m27.0m27.5m46.0m

Depreciation and Amortization

21.1m17.6m

Inventories

Accounts Payable

(447.0k)115.2m(101.0k)(4.0k)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018

Net Income

12.3m23.2m25.6m13.2m20.2m6.8m45.3m69.4m7.6m53.5m13.1m20.7m43.4m65.4m

Depreciation and Amortization

10.6m15.9m4.6m9.0m13.4m4.1m8.2m

Accounts Payable

127.3m128.9m134.5m159.0m144.2m(61.0k)(98.0k)(31.0k)(26.6m)(20.0k)(112.0k)

Cash From Operating Activities

8.5m36.9m3.1m17.5m31.6m19.9m82.2m119.1m662.0k131.6m5.4m(5.0m)23.7m
USDY, 2018

Financial Leverage

7.7 x
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First Bank Operating Metrics

First Bank's Total Loans was reported to be $3.4b in Q2, 2017.
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First Bank Online and Social Media Presence

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First Bank News and Updates

First Bank & Trust Company and the Virginia Bankers Association Offer Six Ways to Avoid Holiday Shopping Scams

ABINGDON, Va., Dec. 7, 2018 /PRNewswire/ -- First Bank & Trust Company, together with the Virginia Bankers Association, is alerting shoppers to exercise caution while making purchases this holiday season. "While millions of credit and debit card transactions are conducted safely every...

First Bank & Trust Company Builds New Corporate Office in Abingdon, Virginia

ABINGDON, Va., Dec. 3, 2018 /PRNewswire/ -- First Bank & Trust Company is building a new facility that will soon replace the existing location on the corner of Main Street and Highway 11 in Abingdon, Virginia. Demolition of the existing branch, located at 667 West Main Street, will begin...

Robert G. Watts, Jr. Joins First Bank in Richmond

STRASBURG, Va., Nov. 27, 2018 (GLOBE NEWSWIRE) -- First National Corporation (the “Company” or “First National”) (OTC: FXNC) is pleased to announce that Robert G. Watts, Jr. has joined its wholly-owned banking subsidiary, First Bank (the “Bank”), as Senior Vice President for the Richmond, Virginia…

IDFC First Bank has no exposure to IL&FS crisis, says V Vaidyanathan

Vaidyanathan shares strategy for IDFC First and the takeaways from his career that he's implementing now

Dellis Appointed as Vice President of Agricultural and Commercial Lending at First Bank & Trust Company

ABINGDON, Va., Nov. 5, 2018 /PRNewswire/ -- First Bank & Trust Company, a diversified financial services firm today announced that Rodney Dellis has been appointed as Vice President of Agricultural and Commercial Lending. Dellis has 28 years of banking experience, and was previously...

IDFC Bank to be renamed as IDFC First Bank

IDFC Bank has proposed to change its name to ‘IDFC First Bank Ltd’ as it is in the process of amalgamating non-banking financial company Capital First with itself
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First Bank Company Life and Culture

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First Bank Frequently Asked Questions

  • When was First Bank founded?

    First Bank was founded in 1935.

  • Who are First Bank key executives?

    First Bank's key executives are Eric Credle, James Crawford and Don Allred.

  • How many employees does First Bank have?

    First Bank has 100 employees.

  • What is First Bank revenue?

    Latest First Bank annual revenue is $226.3 m.

  • What is First Bank revenue per employee?

    Latest First Bank revenue per employee is $2.3 m.

  • Who are First Bank competitors?

    Competitors of First Bank include Randolph Bancorp, Hanmi Financial and ChoiceOne.

  • Where is First Bank headquarters?

    First Bank headquarters is located at 300 SW Broad St, Southern Pines.

  • Where are First Bank offices?

    First Bank has offices in Southern Pines, Greensboro, Burlington, Winston-Salem and in 64 other locations.

  • How many offices does First Bank have?

    First Bank has 95 offices.