NASDAQ$FBNC

First Bancorp/Southern Pines NC · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported net income of $38.4 million for the fourth quarter of 2022.

First Bancorp reported a strong fourth quarter with net income of $38.4 million, or $1.08 per diluted common share, compared to $10.5 million, or $0.30 per diluted common share, in the fourth quarter of 2021. The company's credit quality remained strong and total loans outstanding increased by $139.9 million during the quarter.

  • Net income was $38.4 million, or $1.08 per diluted common share.
  • Total loans outstanding increased by $139.9 million (8.5% annualized).
  • Nonperforming assets to total assets ratio decreased to 0.36%.
  • Net interest income for the fourth quarter of 2022 was $84.4 million.

Headline financials

Total Revenue

$98.9M

Previous: $88.9M+11.3%
EPS (adj)

$1.08

Previous: $0.68+58.8%
Total Risk-Based Capital Ratio

14.7%

No prior period
Return on Average Assets

1.4%

No prior period
Capital Expenditures

$1.54M

Previous: $555K+177.1%
Free Cash Flow

$49.9M

Previous: $27.2M+83.7%
Net Income

$38.4M

Previous: $10.5M+265.9%
Operating Income

$48.3M

No prior period
Gross Profit

$98.9M

Previous: $88.9M+11.3%
Cash & Equivalents

$270M

Previous: $461M-41.4%
Total Assets

$10.6B

Previous: $10.5B+1.1%
Stock-Based Comp

$696K

Previous: $504K+38.1%

Revenue & EPS history

First Bancorp · Revenue · Quarterly

$98.9M

Q4 2022+11.3%vs Q4 2021
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Forward guidance

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, which statements are inherently subject to risks and uncertainties.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+0.8%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+3.9%

Avg return

30 days after

50%

33 / 66 earnings

Positive

+15.4%

Q1 2020

Best reaction

-7.8%

Q3 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+2.7%+3.3%+1.4%
Q4 2025+0.5%-6.3%+2.9%
Q3 2025-1.9%+1.9%+3.7%
Q2 2025-1.2%-1.1%+4.4%
Q1 2025+4.7%+6.1%+6.1%
Q4 2024-0.8%+1.7%-4.5%
Q3 2024-1.7%+0.9%+13.8%
Q2 2024+11.3%+5.5%+8.3%
Q1 2024-7.5%-9.0%-6.9%
Q4 2023-1.9%+3.0%-3.4%
Q3 2023+8.2%+6.9%+18.6%
Q2 2023-0.4%-3.6%-14.1%
Q1 2023-5.6%-2.5%-1.2%
Q4 2022-2.6%-2.8%+0.9%
Q3 2022+4.2%+7.9%+18.2%
Q2 2022+2.4%+0.7%+1.0%
Q1 2022+3.4%-0.1%+0.2%
Q4 2021-4.0%-4.3%-2.3%
Q3 2021-1.4%+1.5%+0.9%
Q2 2021+2.9%+3.4%+5.7%
Q1 2021-1.0%-1.8%+2.4%
Q4 2020-1.9%-4.8%+12.9%
Q3 2020-5.0%-1.0%+36.6%
Q2 2020+2.8%-3.1%-8.8%
Q1 2020+15.4%+1.4%+3.2%
Q4 2019-4.7%-4.9%-3.0%
Q3 2019-0.7%+1.4%+2.9%
Q2 2019+4.3%+5.2%-0.5%
Q1 2019+3.5%+5.6%-0.9%
Q4 2018+3.0%+4.4%+9.3%
Q3 2018-7.8%-6.1%+3.6%
Q2 2018+2.7%+0.3%+2.6%
Q1 2018+6.1%+5.0%+11.9%
Q4 2017+0.7%+1.9%-4.4%
Q3 2017+2.8%+5.5%+4.6%
Q2 2017+3.1%+1.2%-0.9%
Q1 2017-4.6%-7.7%-9.9%
Q4 2016+2.3%+0.7%+6.3%
Q3 2016-1.5%-1.9%+26.2%
Q2 2016-0.1%-0.1%+7.3%
Q1 2016-0.9%
Q4 2015+1.6%
Q3 2015+1.0%
Q2 2015-0.8%
Q1 2015-4.6%
Q4 2014-0.7%
Q3 2014+3.0%
Q2 2014-1.7%
Q1 2014-0.8%
Q4 2013+0.8%
Q3 2013+0.2%
Q2 2013+1.7%
Q1 2013-1.2%
Q4 2012-2.5%
Q3 2012-0.4%
Q2 2012-1.4%
Q1 2011-0.1%
Q1 2012+2.2%
Q4 2011+1.6%
Q4 2010+1.6%
Q4 2009+1.6%
Q3 2010-6.9%
Q3 2011-6.9%
Q2 2010+14.7%
Q2 2011+14.7%
Q1 2010+7.8%

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