First Bancorp Declares Latest Cash Dividend for Shareholders in 2025

First Bancorp Declares Latest Cash Dividend for Shareholders

On March 14, 2025, First Bancorp, the parent company of First Bank, made an important announcement regarding dividends. The Board of Directors declared a cash dividend of $0.22 per share for its common stock. This dividend is slated for payment on April 25, 2025, to shareholders who are recorded as of March 31, 2025. This declaration reflects the company’s commitment to providing value to its investors even amid fluctuating market conditions.

Richard Moore, the company’s Chief Executive Officer, emphasized the noteworthy performance in the fourth quarter of the previous year, pointing out significant increases in both adjusted net income and earnings per share (EPS). Moore stated, "Our Company had a strong fourth quarter performance with meaningful increases in adjusted net income and adjusted EPS while maintaining strong capital, liquidity and credit quality. We are pleased to continue distributing cash dividends to our shareholders, contributing to a valuable return on their investments."

First Bancorp, operating under the stock symbol 'FBNC' on the NASDAQ Global Select Market, is a key player within the banking sector. Based in Southern Pines, North Carolina, the company boasts total assets amounting to $12.1 billion. Its primary business is the ownership and operation of First Bank, a respected community bank that has been serving customers since 1935. First Bank operates 113 branches throughout North and South Carolina, demonstrating a strong regional presence and commitment to local banking solutions.

What sets First Bank apart is its tailored approach to financial services. The bank combines best-in-class financial solutions with local expertise, adapting its offerings to fit the unique needs of both personal and business banking customers. Notably, First Bank has established a comprehensive network for delivering Small Business Administration (SBA) loans, further enhancing its relevance in the community.

As the banking landscape continues to evolve, First Bancorp's steady commitments to its stakeholders are crucial. By advancing dividends, the company not only showcases its robust financial health but also reflects a sustainable business model aimed at long-term growth. The decision to provide ongoing cash dividends signals confidence in its future performance and an earnest recognition of shareholders' contributions.

For those interested in more details or updates on First Bancorp's activities, the company invites inquiries and offers comprehensive financial information on its official website: www.LocalFirstBank.com.

In conclusion, First Bancorp's recent announcement surrounding the cash dividend serves as an encouraging indication of its successful operation and firm confidence in maintaining a positive trajectory moving forward in 2025 and beyond. With such unwavering dedication to its shareholders, First Bancorp is poised for enduring success in the evolving financial landscape.