First Bancorp (FBNC) Financial Statements & Analysis

First Bancorp (FBNC) Income Statement

First Bancorp reported revenue of $543.12M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 62.7% from $333.72M a year earlier. Net income was $111.05M, up 45.7% year over year, a net margin of 20.4%. Gross margin was 70.1% and operating margin 26.6%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $126.13M, up 16.0% from the same quarter a year earlier.

First Bancorp Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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First Bancorp income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	543.12	333.72	399.01	370.49	315.37	318.48	308.70	289.58	226.08
Cost of Revenue	162.32	203.42	159.91	28.50	24.55	54.60	36.17	20.19	13.39
Gross Profit	380.81	327.40	381.20	379.16	300.34	263.88	272.53	269.40	212.69
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	156.34	19.98	153.51	18.60	109.82	100.97	95.97	91.97	82.10
Operating Expenses	236.58	229.28	249.24	193.94	180.02	160.75	156.26	155.92	144.95
Operating Income	144.23	98.12	131.96	185.22	120.32	103.13	116.28	113.48	67.74
Other Income/Expense
Interest Income	557.24	519.24	488.94	341.12	255.92	237.68	250.11	231.21	177.38
Interest Expense	158.99	186.97	142.10	16.10	9.52	19.56	33.90	23.78	12.67
Other Income/Expense	-4.73	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	139.50	98.12	131.96	185.22	120.32	103.13	116.28	113.48	67.74
Income Tax Expense	28.45	21.90	27.83	38.28	24.68	21.65	24.23	24.19	21.77
Net Income	111.05	76.22	104.13	146.94	95.64	81.48	92.05	89.29	45.97
Net Income - Continuous Operations	111.05	76.22	104.13	146.94	95.64	81.48	92.05	89.29	45.97
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	154.64	17.88	151.17	15.33	134.25	116.73	130.17	126.32	77.47
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	10.41	6.60	8.00	3.68	3.53	13.60	13.89	12.84	9.73
Earnings Per Share
Basic EPS	3.00	2.00	3.00	4.00	3.00	3.00	3.00	3.00	2.00
Diluted EPS	3.00	2.00	3.00	4.00	3.00	3.00	3.00	3.00	2.00
Basic Shares Outstanding	41.35	41.02	41.11	35.49	35.63	28.84	29.55	29.57	25.21
Diluted Shares Outstanding	41.35	41.33	41.16	35.67	35.63	28.98	29.72	29.71	25.29

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About First Bancorp Financial Statements

What was First Bancorp's revenue in fiscal 2025?

First Bancorp reported revenue of $543.12M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 62.7% from $333.72M a year earlier.

Is First Bancorp profitable?

Yes. First Bancorp earned net income of $111.05M in fiscal 2025, a net margin of 20.4%. In fiscal 2024 it earned $76.22M.

What is First Bancorp's operating margin?

First Bancorp's operating income was $144.23M on revenue of $543.12M in fiscal 2025, an operating margin of 26.6%, compared with 29.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition