FIRST BANCORP FBNC Income Statement

First bancorp (FBNC)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
INTEREST INCOME
Interest and fees on loans
222,121	220,784	219,335	216,600	212,399	208,609	202,858	192,000	180,205	163,738	145,929	134,299	125,452	121,322	119,916	119,860	118,004	117,872	119,417	121,573	126,996	133,641	138,646	141,497	144,151	141,616	143,290	145,457	144,063	145,554	142,896	143,059	145,887	147,652	149,368	149,777	0	0	0
Interest on investment securities:
Taxable interest income
20,618	19,881	17,946	15,317	12,789	10,638	9,376	8,524	7,769	7,007	5,873	5,912	6,163	6,162	7,075	7,057	6,760	6,296	5,631	4,607	3,819	3,461	3,361	3,558	3,506	3,410	3,516	3,674	3,999	4,352	4,772	5,192	5,506	5,680	5,680	5,838	0	0	0
Tax-exempt interest income
834	1,007	1,187	1,342	1,439	1,482	1,523	1,555	1,614	1,677	1,705	1,741	1,746	1,748	1,766	1,786	1,811	1,829	1,845	1,860	1,874	1,881	1,882	1,884	1,890	1,899	1,915	1,930	1,944	1,958	1,972	1,985	1,993	2,000	1,913	1,822	0	0	0
Other, principally overnight investments
6,832	8,435	9,863	10,909	11,254	10,478	9,334	7,804	6,387	4,960	4,089	2,888	2,031	1,755	747	676	685	658	782	879	925	849	706	610	551	586	645	666	671	656	617	560	485	436	435	449	0	0	0
Total interest income
250,405	250,107	248,331	244,168	237,881	231,207	223,091	209,883	195,975	177,382	157,596	144,840	135,392	130,987	129,504	129,379	127,260	126,655	127,675	128,919	133,614	139,832	144,595	147,549	150,098	147,511	149,366	151,727	150,677	152,520	150,257	150,796	153,871	155,768	157,396	157,886	0	0	0
INTEREST EXPENSE
Savings, checking and money market accounts
9,901	9,551	8,533	7,307	6,104	5,074	4,314	3,665	3,218	2,761	2,308	2,024	1,748	1,620	1,554	1,445	1,317	1,192	1,108	1,079	1,057	1,040	1,054	1,113	1,235	1,493	1,791	2,119	2,497	2,836	3,117	3,487	3,831	4,212	4,894	5,538	0	0	0
Time deposits of $100,000 or more
13,344	13,598	13,012	11,795	10,123	8,356	6,927	5,678	4,702	4,005	3,364	2,968	2,716	2,654	2,551	2,551	2,661	2,856	3,196	3,597	4,037	4,373	4,671	5,021	5,395	5,825	6,417	7,031	7,570	8,132	8,641	9,098	9,674	10,103	10,735	11,438	0	0	0
Other time deposits
2,001	1,901	1,632	1,384	1,168	1,061	1,071	973	895	778	682	706	788	896	1,019	1,131	1,203	1,271	1,353	1,453	1,545	1,659	1,804	2,009	2,309	2,642	3,072	3,556	4,006	4,486	4,984	5,538	6,136	7,036	8,300	9,474	0	0	0
Securities sold under agreements to repurchase
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44	90	138	184	204	228	0	0	0
Borrowings
7,557	8,853	9,760	10,221	10,202	9,286	8,335	7,329	6,238	5,127	4,098	3,283	2,659	2,437	2,240	2,080	1,840	1,589	1,401	1,216	1,198	1,151	1,104	1,060	1,019	1,025	1,155	1,344	1,578	1,866	2,036	2,132	2,112	2,030	1,909	1,807	0	0	0
Total interest expense
32,803	33,903	32,937	30,707	27,597	23,777	20,647	17,645	15,053	12,671	10,452	8,981	7,911	7,607	7,364	7,207	7,021	6,908	7,058	7,345	7,837	8,223	8,633	9,203	9,958	10,985	12,431	14,046	15,647	17,320	18,822	20,345	21,891	23,565	26,042	28,485	0	0	0
Net interest income
217,602	216,204	215,394	213,461	210,284	207,430	202,444	192,238	180,922	164,711	147,144	135,859	127,481	123,380	122,140	122,172	120,239	119,747	120,617	121,574	125,777	131,609	135,962	138,346	140,140	136,526	136,935	137,681	135,030	135,200	131,435	130,451	131,980	132,203	131,354	129,401	0	0	0
Provision (reversal) for loan losses - non-covered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,013	3,525	2,008	2,657	3,669	3,826	7,087	10,767	12,975	15,860	18,266	53,573	56,056	57,207	69,993	36,628	37,099	39,512	28,525	30,009	31,571	0	0	0
Provision (reversal) for loan losses - covered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,493	-3,883	-2,788	-1,918	-31	2,630	3,108	6,848	8,135	7,182	12,350	12,724	12,334	12,059	9,679	8,345	9,947	12,001	12,776	9,805	7,100	0	0	0
Provision for loan losses
7,353	2,263	-220	972	570	-3,589	-4,282	-4,369	-3,659	723	723	723	442	-23	-66	-1,480	-358	-780	739	3,638	6,456	10,195	17,615	21,110	23,042	30,616	66,297	68,390	69,266	79,672	44,973	47,046	51,513	41,301	39,814	38,671	0	0	0
Net interest income after provision for loan losses
210,249	213,941	215,614	212,489	209,714	211,019	206,726	196,607	184,581	163,988	146,421	135,136	127,039	123,403	122,206	123,652	120,597	120,527	119,878	117,936	119,321	121,414	118,347	117,236	117,098	105,910	70,638	69,291	65,764	55,528	86,462	83,405	80,467	90,902	91,540	90,730	0	0	0
NONINTEREST INCOME
Service charges on deposit accounts
13,362	12,970	12,627	12,460	12,372	12,690	12,943	12,667	12,511	11,862	11,136	10,901	10,500	10,571	10,884	11,125	11,441	11,648	11,985	12,460	13,025	13,706	13,618	13,582	13,390	12,752	12,577	12,240	11,953	11,865	11,863	11,856	12,183	11,981	12,335	12,882	0	0	0
Other service charges, commissions and fees
19,044	19,481	18,493	17,621	16,509	16,488	18,309	16,835	15,715	14,403	13,239	12,767	12,256	11,913	11,684	11,466	11,194	10,906	10,643	10,403	10,194	10,019	9,868	9,732	9,510	9,318	9,114	8,987	8,814	8,831	8,676	8,441	8,344	8,067	7,350	6,688	0	0	0
Fees from presold mortgage loans
5,240	3,944	3,181	2,482	2,421	2,735	3,805	5,071	5,786	5,695	4,663	3,531	2,430	2,033	2,003	1,774	2,095	2,532	2,542	2,868	2,927	2,726	2,768	2,737	2,767	2,907	3,036	3,045	2,714	2,378	2,185	1,868	1,725	1,609	1,513	1,485	0	0	0
Commissions from sales of insurance and financial products
8,534	8,495	8,683	8,905	8,820	8,731	8,480	7,481	6,400	5,300	4,250	3,793	3,692	3,790	3,507	3,229	2,957	2,580	2,665	2,659	2,700	2,733	2,548	2,454	2,327	2,132	2,076	1,995	1,848	1,832	1,690	1,563	1,540	1,512	1,472	1,429	0	0	0
SBA consulting fees
3,636	3,872	3,968	4,592	4,797	4,675	4,404	3,981	3,905	4,024	4,475	4,789	4,459	3,199	1,898	720	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
SBA loan sale gains
6,860	8,275	8,641	9,097	8,626	10,366	11,011	10,330	8,659	5,479	3,980	2,982	2,055	1,433	694	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank-owned life insurance income
2,560	2,564	2,570	2,560	2,557	2,534	2,546	2,484	2,436	2,321	2,193	2,128	2,052	2,052	2,055	1,923	1,802	1,665	1,491	1,420	1,355	1,311	1,290	1,345	1,239	1,120	997	838	788	591	389	0	0	-	0	-	-	-	-
FDIC indemnification asset income (expense), net
-	-	-	-	-	-	-	-	-	-	235	5,946	8,124	10,255	11,785	8,939	8,589	8,615	10,223	10,568	10,318	12,842	14,232	14,808	16,637	6,824	4,313	2,096	-4,869	-4,077	-16,120	-21,278	-19,546	-20,481	-5,387	2,598	0	0	0
Securities gains (losses), net
-	-	0	-	-	-	0	-	-	-	-	-	-	3	3	2	2	-1	-1	786	0	-	0	0	-	-	-	-	-	638	638	449	512	74	75	90	0	0	0
Securities gains
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Other gains (losses), net
-177	-169	-419	-415	801	723	701	564	153	383	-773	828	382	-29	1,013	-322	-646	-465	-187	-180	-243	-228	-226	-495	266	-148	-734	-486	-1,041	-463	136	168	261	98	-95	-175	0	0	0
Total noninterest income
59,156	59,529	57,766	57,308	57,191	58,942	62,059	59,249	55,252	49,232	43,519	36,314	30,358	25,551	21,803	20,152	19,237	18,764	17,531	18,633	18,599	14,368	16,162	17,162	16,679	23,489	8,670	5,865	3,148	1,389	13,345	14,028	17,372	26,216	26,750	27,801	0	0	0
NONINTEREST EXPENSES
Salaries expense
80,274	79,129	76,992	75,930	74,644	75,077	76,602	74,381	72,234	66,786	60,586	57,466	53,727	51,252	49,669	48,617	47,638	47,660	46,740	46,135	45,920	46,071	46,826	46,454	46,091	45,120	43,700	42,669	41,839	41,336	41,154	40,764	40,285	39,822	38,022	36,777	0	0	0
Employee benefits expense
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Employee benefits
-	-	17,286	17,203	-	16,888	16,507	16,052	16,010	15,313	15,234	14,236	12,772	11,568	10,324	9,937	9,657	9,134	8,641	8,970	8,958	9,086	9,370	9,068	9,328	9,644	10,198	10,489	10,720	12,007	11,604	12,151	12,328	11,616	11,914	11,417	0	0	0
Total personnel expense
97,077	95,973	94,278	93,133	91,513	91,965	93,109	90,433	88,244	82,099	75,820	71,702	66,499	62,820	59,993	58,554	57,295	56,794	55,381	55,105	54,878	55,157	56,196	55,522	55,419	54,764	53,898	53,158	52,559	53,343	52,758	52,915	52,613	51,438	49,936	48,194	0	0	0
Occupancy expense
11,326	11,122	10,975	10,931	10,745	10,793	10,767	10,464	10,279	9,661	9,028	8,594	8,079	7,838	7,645	7,463	7,432	7,358	7,319	7,359	7,351	7,362	7,444	7,374	7,329	7,123	7,214	7,091	6,947	6,954	6,596	6,600	6,583	6,574	6,712	6,790	0	0	0
Equipment related expenses
4,799	5,023	5,479	5,686	5,744	5,627	4,920	4,552	4,674	4,480	4,406	4,240	3,796	3,608	3,637	3,633	3,663	3,749	3,831	3,884	3,959	3,931	3,918	4,122	4,204	4,364	4,499	4,660	4,718	4,800	4,717	4,488	4,434	4,326	4,305	4,279	0	0	0
Merger and acquisition expenses
82	192	-997	-830	-293	2,358	6,817	7,979	8,461	8,073	4,969	4,240	3,603	1,431	1,286	686	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	636	606	594	0	0	0
Amortization of Intangible Assets
4,581	4,858	5,136	5,425	5,689	5,917	6,042	5,492	5,017	4,033	2,886	2,371	1,601	1,211	1,015	809	728	722	736	749	763	777	803	829	855	860	866	870	873	897	896	898	901	902	895	889	0	0	0
Foreclosed property gains (losses), net
-853	-939	-1,461	-1,380	-1,098	-565	-973	-565	-218	-531	-375	-325	-440	-625	1,128	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Gain from acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10,196	10,196	10,196	0	0	0
Foreclosed property gains (losses) - non-covered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	1,819	909	-419	-1,333	10,611	11,784	13,879	15,325	3,838	3,737	2,690	3,355	0	0	0	-	-
Foreclosed property gains (losses) - covered
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-1,589	-2,213	-2,866	-367	4,032	7,070	13,104	13,035	24,541	28,076	24,105	24,492	6,358	-4,313	0	0	0
Other operating expenses
39,778	39,087	37,781	38,421	37,563	39,258	42,909	40,994	39,689	36,604	32,614	31,910	30,542	29,913	30,565	29,892	29,871	29,508	28,350	29,837	30,463	30,024	29,836	28,123	29,139	29,508	32,002	32,653	31,027	31,281	30,675	31,030	30,622	32,230	30,171	29,878	0	0	0
Total noninterest expenses
158,496	157,194	153,462	153,576	151,771	156,483	165,095	160,445	156,895	145,481	129,723	123,057	114,120	106,821	104,141	101,037	99,190	98,131	95,617	96,934	97,414	97,251	98,197	95,970	96,946	96,619	98,479	98,432	96,124	97,275	95,672	95,973	95,438	96,106	92,625	90,624	0	0	0
Income before income taxes
110,909	116,276	119,918	116,221	115,134	113,478	103,690	95,411	82,938	67,739	60,217	48,393	43,277	42,133	39,868	42,767	40,644	41,160	41,792	39,635	40,506	38,531	36,312	38,428	36,831	32,780	-19,171	-23,276	-27,212	-40,358	4,135	1,460	2,401	21,012	25,665	27,907	0	0	0
Income tax expense
22,968	24,230	24,860	24,191	24,233	24,189	24,119	24,745	23,848	21,767	20,067	16,651	15,050	14,624	13,917	14,489	13,761	14,126	14,460	13,729	14,198	13,535	12,733	14,095	13,556	12,081	-8,255	-10,450	-12,088	-16,952	620	-189	316	7,370	9,159	10,017	0	0	0
Net Income (Loss) Attributable to Parent
87,941	92,046	95,058	92,030	90,901	89,289	79,571	70,666	59,090	45,972	40,150	31,742	28,227	27,509	25,951	28,278	26,883	27,034	27,332	25,906	26,308	24,996	23,579	24,333	23,275	20,699	-10,916	-12,826	-15,124	-23,406	0	0	0	-	-	-	-	-	-
Preferred stock dividends
-	-	-	-	-	-	-	-	-	-	-	-	-	175	212	291	444	603	783	863	868	868	868	867	867	895	1,210	1,682	2,294	2,809	3,071	3,198	3,181	3,234	1,628	0	0	0	-
Earnings Per Share [Abstract]
Net income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Accretion of preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,932	2,717	0	0	0	-
Preferred stock dividends and accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Net income available to common shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	27,334	25,739	27,987	26,439	26,431	26,549	25,043	25,440	24,128	22,711	23,466	22,408	19,804	-12,126	-14,508	-17,418	-26,215	444	-4,023	-3,799	7,476	10,107	13,754	0	0	0
Basic (in dollars per share)
0.62	0.71	0.84	0.80	0.75	0.81	0.74	0.77	0.70	0.50	0.53	0.45	0.34	0.42	0.23	0.38	0.34	0.35	0.35	0.30	0.34	0.34	0.27	0.33	0.28	0.28	0.31	0.27	0.15	-1.56	0.22	0.15	-0.35	0.00	-0.04	0.16	0.32	0.17	0.17
Diluted (in dollars per share)
0.62	0.71	0.84	0.80	0.75	0.80	0.74	0.77	0.70	0.50	0.53	0.45	0.34	0.40	0.23	0.37	0.33	0.33	0.34	0.30	0.33	0.33	0.27	0.32	0.27	0.27	0.30	0.27	0.14	-1.56	0.22	0.15	-0.35	0.00	-0.04	0.16	0.32	0.17	0.17
Dividends declared per common share (in dollars per share)
0.18	0.18	0.12	0.12	0.12	0.10	0.10	0.10	0.10	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08	0.08
Weighted average common shares outstanding:
Basic (in shares)
29,230	29,435	29,542	29,626	29,587	29,656	29,530	29,544	29,533	29,657	24,607	24,593	21,983	20,146	20,007	19,921	19,783	19,787	19,781	19,778	19,721	19,706	19,705	19,698	19,688	19,679	19,679	19,673	19,669	17,332	16,988	16,952	16,924	16,893	16,875	16,841	16,813	16,779	16,751
Weighted Average Number of Shares Outstanding, Diluted
29,399	29,657	29,684	29,796	29,743	29,951	29,621	29,632	29,624	29,733	24,695	24,671	22,064	20,898	20,785	20,693	20,553	20,522	20,512	20,508	20,454	20,439	20,437	20,434	20,424	20,367	20,424	20,415	20,409	17,332	16,988	16,952	16,924	16,919	16,903	16,868	16,841	16,807	16,784