First Bancorp (FBNC) - Net Assets
Based on the latest financial reports, First Bancorp (FBNC) has net assets worth $1.65 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($12.67 Billion) and total liabilities ($11.01 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check First Bancorp (FBNC) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.65 Billion |
| % of Total Assets | 13.06% |
| Annual Growth Rate | 13.29% |
| 5-Year Change | 34.42% |
| 10-Year Change | 349.38% |
| Growth Volatility | 31.64 |
First Bancorp - Net Assets Trend (1991–2025)
This chart illustrates how First Bancorp's net assets have evolved over time, based on quarterly financial data. Also explore how large is First Bancorp's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for First Bancorp (1991–2025)
The table below shows the annual net assets of First Bancorp from 1991 to 2025. For live valuation and market cap data, see FBNC market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.65 Billion | +14.43% |
| 2024-12-31 | $1.45 Billion | +5.34% |
| 2023-12-31 | $1.37 Billion | +33.03% |
| 2022-12-31 | $1.03 Billion | -16.17% |
| 2021-12-31 | $1.23 Billion | +37.74% |
| 2020-12-31 | $893.42 Million | +4.81% |
| 2019-12-31 | $852.40 Million | +11.54% |
| 2018-12-31 | $764.23 Million | +10.28% |
| 2017-12-31 | $692.98 Million | +88.26% |
| 2016-12-31 | $368.10 Million | +7.57% |
| 2015-12-31 | $342.19 Million | -11.74% |
| 2014-12-31 | $387.70 Million | +4.24% |
| 2013-12-31 | $371.92 Million | +4.44% |
| 2012-12-31 | $356.12 Million | +3.18% |
| 2011-12-31 | $345.15 Million | +0.16% |
| 2010-12-31 | $344.60 Million | +0.65% |
| 2009-12-31 | $342.38 Million | +55.72% |
| 2008-12-31 | $219.87 Million | +26.31% |
| 2007-12-31 | $174.07 Million | +6.99% |
| 2006-12-31 | $162.71 Million | +4.48% |
| 2005-12-31 | $155.73 Million | +4.88% |
| 2004-12-31 | $148.48 Million | +4.67% |
| 2003-12-31 | $141.86 Million | +14.41% |
| 2002-12-31 | $123.98 Million | +6.22% |
| 2001-12-31 | $116.73 Million | +5.46% |
| 2000-12-31 | $110.68 Million | +3.46% |
| 1999-12-31 | $106.98 Million | +164.15% |
| 1998-12-31 | $40.50 Million | +10.05% |
| 1997-12-31 | $36.80 Million | +10.84% |
| 1996-12-31 | $33.20 Million | +9.57% |
| 1995-12-31 | $30.30 Million | +5.21% |
| 1994-12-31 | $28.80 Million | +5.11% |
| 1993-12-31 | $27.40 Million | +7.03% |
| 1992-12-31 | $25.60 Million | +7.56% |
| 1991-12-31 | $23.80 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First Bancorp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 16493.2% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $829.66 Million | 50.16% |
| Common Stock | $973.88 Million | 58.87% |
| Other Comprehensive Income | $-149.38 Million | -9.03% |
| Total Equity | $1.65 Billion | 100.00% |
First Bancorp Competitors by Market Cap
The table below lists competitors of First Bancorp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
SSI Securities Corp
VN:SSI
|
$2.39 Billion |
|
SCHOTT Pharma AG & Co. KGaA
XETRA:1SXP
|
$2.39 Billion |
|
Proximus NV
BR:PROX
|
$2.40 Billion |
|
Signify N.V.
AS:LIGHT
|
$2.40 Billion |
|
Wuhu Token Sciences
SHE:300088
|
$2.39 Billion |
|
China Southern Airlines Company Limited
F:ZNHH
|
$2.39 Billion |
|
Shanghai Luoman Lighting Technologies Inc.
SHG:605289
|
$2.39 Billion |
|
Jiangsu Ruitai New Energy Materials Co. Ltd.
SHE:301238
|
$2.39 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First Bancorp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,445,611,000 to 1,654,168,000, a change of 208,557,000 (14.4%).
- Net income of 111,048,000 contributed positively to equity growth.
- Dividend payments of 37,284,000 reduced retained earnings.
- Share repurchases of 991,000 reduced equity.
- Other comprehensive income increased equity by 132,654,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $111.05 Million | +6.71% |
| Dividends Paid | $37.28 Million | -2.25% |
| Share Repurchases | $991.00K | -0.06% |
| Other Comprehensive Income | $132.65 Million | +8.02% |
| Other Changes | $3.13 Million | +0.19% |
| Total Change | $- | 14.43% |
Book Value vs Market Value Analysis
This analysis compares First Bancorp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.44x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 16.42x to 1.44x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1991-12-31 | $3.52 | $57.79 | x |
| 1992-12-31 | $3.79 | $57.79 | x |
| 1993-12-31 | $4.05 | $57.79 | x |
| 1994-12-31 | $4.26 | $57.79 | x |
| 1995-12-31 | $4.47 | $57.79 | x |
| 1996-12-31 | $4.89 | $57.79 | x |
| 1997-12-31 | $5.42 | $57.79 | x |
| 1998-12-31 | $5.96 | $57.79 | x |
| 1999-12-31 | $7.62 | $57.79 | x |
| 2000-12-31 | $8.14 | $57.79 | x |
| 2001-12-31 | $8.39 | $57.79 | x |
| 2002-12-31 | $8.87 | $57.79 | x |
| 2003-12-31 | $9.88 | $57.79 | x |
| 2004-12-31 | $10.31 | $57.79 | x |
| 2005-12-31 | $10.84 | $57.79 | x |
| 2006-12-31 | $11.27 | $57.79 | x |
| 2007-12-31 | $12.03 | $57.79 | x |
| 2008-12-31 | $13.72 | $57.79 | x |
| 2009-12-31 | $20.50 | $57.79 | x |
| 2010-12-31 | $20.52 | $57.79 | x |
| 2011-12-31 | $20.44 | $57.79 | x |
| 2012-12-31 | $20.89 | $57.79 | x |
| 2013-12-31 | $18.23 | $57.79 | x |
| 2014-12-31 | $18.97 | $57.79 | x |
| 2015-12-31 | $16.69 | $57.79 | x |
| 2016-12-31 | $17.75 | $57.79 | x |
| 2017-12-31 | $27.40 | $57.79 | x |
| 2018-12-31 | $25.73 | $57.79 | x |
| 2019-12-31 | $28.68 | $57.79 | x |
| 2020-12-31 | $30.83 | $57.79 | x |
| 2021-12-31 | $34.54 | $57.79 | x |
| 2022-12-31 | $28.92 | $57.79 | x |
| 2023-12-31 | $33.34 | $57.79 | x |
| 2024-12-31 | $34.98 | $57.79 | x |
| 2025-12-31 | $40.00 | $57.79 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First Bancorp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.71%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.45%
- • Asset Turnover: 0.04x
- • Equity Multiplier: 7.66x
- Recent ROE (6.71%) is below the historical average (9.70%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1991 | 8.40% | 8.66% | 0.10x | 9.77x | $-380.00K |
| 1992 | 9.77% | 11.74% | 0.09x | 9.48x | $-60.00K |
| 1993 | 9.85% | 13.24% | 0.08x | 9.39x | $-40.00K |
| 1994 | 10.42% | 13.45% | 0.08x | 10.06x | $120.00K |
| 1995 | 5.28% | 5.93% | 0.08x | 10.62x | $-1.43 Million |
| 1996 | 12.95% | 14.38% | 0.09x | 10.11x | $980.00K |
| 1997 | 13.59% | 14.97% | 0.08x | 10.94x | $1.32 Million |
| 1998 | 27.09% | 17.46% | 0.13x | 12.14x | $6.92 Million |
| 1999 | 11.08% | 17.63% | 0.08x | 8.31x | $1.16 Million |
| 2000 | 8.44% | 12.03% | 0.08x | 8.27x | $-1.73 Million |
| 2001 | 11.66% | 15.75% | 0.08x | 9.81x | $1.94 Million |
| 2002 | 13.90% | 20.22% | 0.07x | 9.82x | $4.83 Million |
| 2003 | 13.69% | 21.67% | 0.06x | 10.40x | $5.23 Million |
| 2004 | 13.55% | 20.64% | 0.06x | 11.04x | $5.27 Million |
| 2005 | 10.33% | 13.82% | 0.06x | 11.57x | $517.20K |
| 2006 | 11.86% | 13.27% | 0.07x | 13.13x | $3.03 Million |
| 2007 | 12.53% | 13.13% | 0.07x | 13.31x | $4.40 Million |
| 2008 | 10.01% | 13.06% | 0.06x | 12.51x | $18.20K |
| 2009 | 17.60% | 33.93% | 0.05x | 10.35x | $26.02 Million |
| 2010 | 2.90% | 5.48% | 0.06x | 9.52x | $-24.48 Million |
| 2011 | 3.95% | 7.61% | 0.05x | 9.53x | $-20.87 Million |
| 2012 | -6.57% | -13.14% | 0.05x | 9.11x | $-59.02 Million |
| 2013 | 5.57% | 11.75% | 0.06x | 8.56x | $-16.49 Million |
| 2014 | 6.45% | 14.96% | 0.05x | 8.30x | $-13.77 Million |
| 2015 | 7.90% | 17.38% | 0.05x | 9.83x | $-7.18 Million |
| 2016 | 7.47% | 16.49% | 0.05x | 9.82x | $-9.30 Million |
| 2017 | 6.63% | 20.33% | 0.04x | 8.00x | $-23.33 Million |
| 2018 | 11.68% | 30.83% | 0.05x | 7.67x | $12.87 Million |
| 2019 | 10.80% | 29.82% | 0.05x | 7.21x | $6.81 Million |
| 2020 | 9.12% | 25.58% | 0.04x | 8.16x | $-7.87 Million |
| 2021 | 7.77% | 29.44% | 0.03x | 8.54x | $-27.41 Million |
| 2022 | 14.24% | 36.04% | 0.04x | 10.30x | $43.78 Million |
| 2023 | 7.59% | 19.24% | 0.04x | 8.83x | $-33.11 Million |
| 2024 | 5.27% | 14.36% | 0.04x | 8.40x | $-68.35 Million |
| 2025 | 6.71% | 20.45% | 0.04x | 7.66x | $-54.37 Million |
Industry Comparison
This section compares First Bancorp's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $552,557,300
- Average return on equity (ROE) among peers: 11.02%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First Bancorp (FBNC) | $1.65 Billion | 8.40% | 6.66x | $2.39 Billion |
| Ameris Bancorp (ABCB) | $1.46 Billion | 8.31% | 6.86x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $120.94 Million | 10.83% | 9.48x | $5.70 Billion |
| ACNB Corporation (ACNB) | $74.01 Million | 9.97% | 11.77x | $483.21 Million |
| Affinity Bancshares Inc (AFBI) | $129.12 Million | 4.21% | 5.71x | $135.98 Million |
| Alerus Financial Corp (ALRS) | $153.31 Million | 13.22% | 8.01x | $647.19 Million |
| Amalgamated Bank (AMAL) | $535.82 Million | 8.62% | 10.16x | $1.14 Billion |
| Amerant Bancorp Inc. (AMTB) | $901.22 Million | 12.53% | 7.48x | $962.39 Million |
| Arrow Financial Corporation (AROW) | $72.29 Million | 17.85% | 12.85x | $601.02 Million |
| Associated Banc-Corp (ASB) | $2.02 Billion | 12.80% | 9.17x | $5.20 Billion |
| AmeriServ Financial Inc (ASRV) | $65.10 Million | 11.83% | 10.90x | $62.60 Million |
About First Bancorp
First Bancorp operates as the bank holding company for First Bank that provides banking products and services for individuals and businesses. The company accepts deposit products, such as checking, savings, and money market accounts; and time deposits, including certificate of deposits and individual retirement accounts. It also offers commercial business loans, commercial and residential real es… Read more