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Income Statement
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FIRST BANCORP (FBNC)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
  Older >>
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K10-K10-K10-K10-K
    Interest income:  
        Interest income on loans  278.0219.0213.1220.8208.6163.7121.3117.9
        Interest income on investments  57.934.521.220.912.18.77.98.1
        Interest income on repurchase agreements  5.02.43.48.410.55.01.80.7
       341.0255.9237.7250.1231.2177.4131.0126.7
    Interest expense:  
        Interest on deposits  11.37.916.3     
       16.19.519.633.923.812.77.66.9
Net interest income  324.9246.4218.1216.2207.4164.7123.4119.7
Provision for loan losses  12.415.035.02.3-3.60.70.0-0.8
Net interest income after provision for loan losses  312.5231.4183.1213.9211.0164.0123.4120.5
        Deposit and loan fees  15.512.311.113.012.711.910.611.6
        Gain on sale of investments, net        0.00.0
        Other non-interest income  52.561.370.246.646.337.415.033.9
Total non-interest income  68.073.681.359.558.949.225.645.5
Non-interest expenses  195.2184.7161.3157.2156.5145.5106.898.1
Pre-tax income before non-recurring items  190.3137.2103.1116.5115.875.843.642.8
Non-recurring items  5.116.8 0.22.48.11.41.7
Pre-tax income  185.2120.3103.1116.3113.567.742.141.2
Income taxes  38.324.721.724.224.221.814.614.1
            Tax rate  20.7%20.5%21.0%20.8%21.3%32.1%34.7%34.3%
Net income  146.995.681.592.089.346.027.326.4
            Net margin  38.6%31.4%30.8%33.7%33.1%21.6%18.4%15.9%
   
Basic EPS  $4.14$3.20$2.83$3.12$3.02$1.82$1.37$1.34
Diluted EPS  $4.12$3.19$2.81$3.10$3.01$1.82$1.32$1.29
   
Shares outstanding (basic)  35.529.928.829.529.625.220.019.8
Shares outstanding (diluted)  35.730.029.029.729.725.320.720.5
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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