First Bancorp (FBNC) Q2 2024 earnings summary
Event summary combining transcript, slides, and related documents.
Q2 2024 earnings summary
27 Oct, 2026Executive summary
Q2 net income was $28.7M and diluted EPS was $0.70, versus $29.4M and $0.71 YoY and $25.3M and $0.61 in Q1.
H1 net income rose to $54.0M from $44.6M YoY, while net interest income and tax-equivalent NIM declined amid deposit repricing and funding competition.
Stronger asset yields, deposit growth, reduced wholesale funding, lower expenses and credit provisions supported quarterly performance; higher funding costs weighed on YoY earnings.
Partial view of Summaries dataset, powered by Quartr API
Latest events from First Bancorp
- Loan growth and acquired fee businesses lifted earnings, while funding and margin pressures persisted.FBNC
Q2 2017 - Acquisitions boosted 2017 earnings and scale as asset quality improved.FBNCQ4 2017
- Lower credit costs lifted EPS, but margin pressure and fading loan accretion persist.FBNCQ4 2015
- A flexible $100 million shelf offers future securities, without fixed pricing or terms.FBNCRegistration filing
- Loan growth lifted 2016 earnings, but margin pressure and higher provisions clouded the 2017 outlook.FBNCQ4 2016
- Earnings rose as prior-year charges faded, but funding costs compressed margins.FBNCQ1 2024
- Q2 earnings and NIM grew as loans expanded and the First Carolina deal advanced.FBNCQ2 2026
- Helene and higher funding costs pressured Q3 earnings; adjusted EPS was $0.70.FBNCQ3 2024
- Q3 earnings rose as NIM reached 3.75% and loans grew 8.1% YoY.FBNCQ3 2026