First Bancorp (FBNC) Income Statement
FBNC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFBNC revenue and net income
Where FBNC's revenue goes
2025Each bar shows an amount and its share of revenue. FBNC kept 20.4% of revenue as net income.
FBNC profit margins
FBNC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +2.3% | +10.0% | +11.3% | +13.3% |
| Gross profit | +16.3% | +0.1% | +7.6% | +9.8% |
| Operating income | +47.0% | −8.0% | +6.9% | +13.4% |
| Net income | +45.7% | −8.9% | +6.4% | +15.2% |
| EPS (diluted) | +41.2% | −2.7% | +8.5% | +11.6% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FBNC quarterly EPS vs estimates
First Bancorp beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: October 28, 2026 (estimate $1.18).
FBNC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $543.1M | $530.8M | $541.1M | $407.7M | $324.9M | $318.5M | $308.7M | $289.6M | $226.1M | $166.8M |
| Cost of revenue | $162.3M | $203.4M | $159.9M | $28.5M | $24.6M | $54.6M | $36.2M | $20.2M | $13.4M | $7.6M |
| Gross profit | $380.8M | $327.4M | $381.2M | $379.2M | $300.3M | $263.9M | $272.5M | $269.4M | $212.7M | $159.2M |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $156.3M | $152.3M | $153.2M | $125.6M | $109.8M | $103.3M | $99.1M | $95.0M | $84.6M | $64.8M |
| Total operating expenses | $236.6M | $229.3M | $249.2M | $193.9M | $180.0M | $160.8M | $156.3M | $155.9M | $144.9M | $117.1M |
| Operating income | $144.2M | $98.1M | $132.0M | $185.2M | $120.3M | $103.1M | $116.3M | $113.5M | $67.7M | $42.1M |
| Interest income | $557.2M | $519.2M | $488.8M | $341.0M | $255.9M | $237.7M | $250.1M | $231.2M | $177.4M | $131.0M |
| Interest expense | $159.0M | $187.0M | $142.1M | $16.1M | $9.5M | $19.6M | $33.9M | $23.8M | $12.7M | $7.6M |
| Income before taxes | $139.5M | $98.1M | $132.0M | $185.2M | $120.3M | $103.1M | $116.3M | $113.5M | $67.7M | $42.1M |
| Income taxes | $28.5M | $21.9M | $27.8M | $38.3M | $24.7M | $21.7M | $24.2M | $24.2M | $21.8M | $14.6M |
| Net income | $111.0M | $76.2M | $104.1M | $146.9M | $95.6M | $81.5M | $92.0M | $89.3M | $46.0M | $27.5M |
| EBITDA | $159.2M | $116.0M | $151.2M | $200.5M | $134.2M | $116.7M | $130.2M | $126.3M | $77.5M | $47.9M |
| EPS (diluted) | $3.91 | $2.77 | $3.07 | $4.24 | $4.05 | $2.60 | $3.15 | $3.13 | $2.01 | $1.36 |
| Gross margin | 70.1% | 61.7% | 70.4% | 93.0% | 92.4% | 82.9% | 88.3% | 93.0% | 94.1% | 95.5% |
| Operating margin | 26.6% | 18.5% | 24.4% | 45.4% | 37.0% | 32.4% | 37.7% | 39.2% | 30.0% | 25.3% |
| Net margin | 20.4% | 14.4% | 19.2% | 36.0% | 29.4% | 25.6% | 29.8% | 30.8% | 20.3% | 16.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $21.2M | $157.6M | $121.3M | $127.9M | $149.5M | $144.4M | $107.3M | $143.2M | $143.4M | $138.1M | $136.0M | $137.7M |
| Cost of revenue | $38.4M | $38.4M | $37.4M | $41.7M | $42.3M | $40.9M | $44.1M | $62.6M | $48.2M | $48.5M | $47.0M | $39.1M |
| Gross profit | −$17.1M | $119.2M | $83.9M | $86.2M | $107.2M | $103.5M | $63.3M | $80.7M | $95.2M | $89.6M | $88.9M | $98.6M |
| Sales, general & admin | $41.8M | $41.8M | $37.4M | $43.4M | $37.9M | $37.6M | $37.9M | $42.7M | $35.6M | $37.4M | $46.7M | $39.2M |
| Total operating expenses | $41.8M | $60.2M | $62.2M | $60.2M | $57.4M | $56.7M | $56.4M | $58.1M | $58.3M | $57.8M | $51.2M | $60.9M |
| Operating income | −$59.0M | $59.0M | $21.7M | $26.0M | $49.8M | $46.8M | $6.9M | $22.6M | $36.9M | $31.8M | $37.7M | $37.7M |
| Interest income | $148.3M | $142.4M | $143.6M | $144.2M | $136.7M | $132.7M | $132.4M | $131.4M | $128.8M | $126.6M | $126.6M | $123.9M |
| Interest expense | $37.0M | $35.3M | $37.4M | $41.7M | $40.1M | $39.8M | $43.6M | $48.4M | $47.7M | $47.3M | $44.1M | $39.1M |
| Income before taxes | $63.4M | $59.0M | $16.9M | $26.0M | $49.8M | $46.8M | $6.9M | $22.6M | $36.9M | $31.8M | $37.7M | $37.7M |
| Income taxes | $12.9M | $12.3M | $1.2M | $5.6M | $11.3M | $10.4M | $3.3M | $3.9M | $8.2M | $6.5M | $8.0M | $7.8M |
| Net income | $50.5M | $46.7M | $15.7M | $20.4M | $38.6M | $36.4M | $3.6M | $18.7M | $28.7M | $25.3M | $29.7M | $29.9M |
| EBITDA | −$56.7M | $62.4M | $25.2M | $30.9M | $53.6M | $50.8M | $11.2M | $26.8M | $41.5M | $36.5M | $42.7M | $42.3M |
| EPS (diluted) | $1.22 | $1.13 | $1.19 | $1.01 | $0.87 | $0.84 | $0.76 | $0.70 | $0.70 | $0.61 | $0.72 | $0.73 |
| Gross margin | −80.8% | 75.7% | 69.1% | 67.4% | 71.7% | 71.7% | 59.0% | 56.3% | 66.4% | 64.8% | 65.4% | 71.6% |
| Operating margin | −278.1% | 37.4% | 17.9% | 20.3% | 33.3% | 32.4% | 6.4% | 15.8% | 25.7% | 23.0% | 27.7% | 27.3% |
| Net margin | 238.2% | 29.6% | 13.0% | 15.9% | 25.8% | 25.2% | 3.3% | 13.0% | 20.0% | 18.3% | 21.8% | 21.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FBNC's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FBNC financial results
In fiscal year 2025 (ended December 31, 2025), First Bancorp reported revenue of $543.1 million, up 2.3% from the year before. It had net income of $111.0 million (up 45.7%), a net profit margin of 20.4%. Diluted earnings per share came to $3.91. Over five years revenue grew at an average rate of 11.3% a year.
See the FBNC stock overview for the latest quote and news, or the FBNC chart for price history and technical indicators.
FBNC income statement FAQ
What is First Bancorp's annual revenue?
First Bancorp reported total revenue of $543.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 2.3% from $530.8 million the previous year.
Is First Bancorp profitable?
Yes. First Bancorp reported net income of $111.0 million in fiscal 2025, a net profit margin of 20.4%; its operating margin was 26.6%.
What is First Bancorp's gross margin?
First Bancorp's gross margin was 70.1% in fiscal 2025: for every $100 of revenue, First Bancorp kept $70 after the direct cost of its products and services.
How fast is First Bancorp growing?
Revenue grew 11.3% a year on average over the last five fiscal years, from $318.5 million to $543.1 million.
What are First Bancorp's earnings per share?
First Bancorp earned $3.91 per diluted share in fiscal 2025, compared with $2.77 a year earlier.
When will First Bancorp report its next earnings?
First Bancorp is expected to report results for the quarter ending September 30, 2026 on October 28, 2026.
When does First Bancorp's fiscal year end?
First Bancorp's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.