First Bancorp Declares Increased Cash Dividend for Shareholders

Author: Addison Perry Updated: 06-13-2025 09:24 AM

First Bancorp's Commitment to Shareholders

First Bancorp (NASDAQ: FBNC), the parent company of First Bank, proudly announces a cash dividend for its common stock. The Board of Directors has declared a dividend of $0.23 per share. This decision, aimed at rewarding shareholders, reflects the company's robust financial standing and ongoing efforts to enhance shareholder value.

Details of the Cash Dividend

The cash dividend of $0.23 is scheduled to be paid on a future date, benefiting shareholders of record as of a specified date. This adjustment signifies a positive movement from the previous quarter's dividend of $0.22 per share, illustrating the company’s commitment to maintaining a solid return on investment for its stakeholders.

Richard Moore's Insights

Richard Moore, the Chief Executive Officer of First Bancorp, expressed satisfaction with the company’s financial reports, highlighting a strong first quarter performance. He noted improvements in both net income and earnings per share (EPS), underpinned by sound credit quality alongside adequate capital and liquidity. Moore emphasized the company’s strategic approach to returning capital to shareholders, which has resulted in the dividend increase.

About First Bancorp

Founded in 1935, First Bancorp operates as a bank holding company offering services primarily through First Bank. With its headquarters located in Southern Pines, the company has amassed total assets amounting to $12.4 billion. It operates a network of 113 branches across states including North Carolina and South Carolina, showing a commitment to expanding its reach in the banking sector.

Service Offerings and Community Focus

First Bank prides itself on delivering tailored banking solutions that blend financial expertise, local knowledge, and technology into a comprehensive service package. Their efforts include providing Small Business Administration (SBA) loans through a network that extends nationwide, catering to the varied needs of individuals and business owners alike.

Investing in Future Growth

As First Bancorp continues to grow, the focus remains on enhancing services that best meet the community's needs. The company is committed to innovative offerings that not only support customers in managing their finances but also contribute positively to the economy.

Frequently Asked Questions

What is the new dividend amount declared by First Bancorp?

The newly declared cash dividend is $0.23 per share.

When will the dividend be paid to shareholders?

The cash dividend will be payable on a future specified date to shareholders of record as of another specified date.

How has First Bancorp performed financially?

First Bancorp has reported strong financial performance, with notable improvements in net income and earnings per share, alongside solid credit quality.

What services does First Bank offer?

First Bank provides a range of financial services, including tailored loans and SBA loans through a nationwide lender network.

Where is First Bancorp headquartered?

First Bancorp is headquartered in Southern Pines and operates multiple branches across North and South Carolina.

About The Author

Hello, I'm 30-year-old financial writer and expert Addison Perry, and I love to simplify the intricacies of the financial industry. I've committed myself over the years to deciphering the subtleties of investing techniques and economic trends and converting them into doable guidance that anybody can use. My goal with writings and books is to make money interesting and approachable so that readers may take charge of their financial futures.

My enthusiasm to empowerment and education has propelled me through my career in finance. I write because I think that everyone should be able to make educated financial decisions, and I try to provide that. Regardless of experience level with investing, my work is intended to provide insightful analysis and practical advice to enable you to thrive in the always changing financial environment. I appreciate you traveling with me toward success and financial literacy.

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