First Bancorp Q4 Tangible Book Value Per Share Reaches $28.23
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2026
0mins
Should l Buy FBNC?
Tangible book value per share was $28.23 from $26.98 at previous quarter end. Q4 common equity tier I capital ratio was 14.06% vs. 14.35% in Q3. Q4 NIM was 3.58% vs. 3.46% in Q3 and 3.05% a year ago. CEO Richard Moore stated "First Bancorp closed 2025 with strong momentum, highlighted by a 51 basis-point expansion in net interest margin for the year, solid loan growth and continued expense discipline. During the quarter we grew loans at an annualized rate of more than 14% and our earnings continued to benefit from rising asset yields as higher-yielding assets replaced lower-yielding COVID-era assets. Our liquidity, capital and credit quality remain strong and we are very pleased with the Bank's performance and its accelerating momentum as we move into 2026."
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Analyst Views on FBNC
Wall Street analysts forecast FBNC stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FBNC is 60.67 USD with a low forecast of 58.00 USD and a high forecast of 62.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 60.940
Low
58.00
Averages
60.67
High
62.00
Current: 60.940
Low
58.00
Averages
60.67
High
62.00
About FBNC
First Bancorp is a bank holding company. The principal activity of the Company is the ownership and operation of the First Bank (the Bank), a state-chartered bank with its main office in Southern Pines, North Carolina. The Bank has two wholly owned subsidiaries, Magnolia Financial, Inc. (Magnolia Financial) and First Troy SPE, LLC. Magnolia Financial is a business financing company that makes loans throughout the southeastern United States. The Bank maintains a diversified loan portfolio by providing a broad range of commercial and retail lending services to business entities and individuals. The Bank provides commercial business loans, commercial and residential real estate construction and mortgage loans, revolving lines of credit, letters of credit, and loans for personal uses, home improvement, and automobiles. The Bank offers a full range of deposit accounts and services to both retail and commercial customers. The Bank operates about 113 branches.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Seamless Transition Plan: Berges and Ortiz will work closely over the coming months to ensure a smooth transition, reflecting the company's commitment to leadership stability.
- Leadership Succession: This executive change not only recognizes internal talent but also lays the groundwork for future financial management and strategic development, ensuring the company remains competitive in an evolving market environment.
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See More
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See More
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- Significant Asset Base: As a bank holding company, First Bancorp boasts total assets of $12.8 billion and operates 113 branches primarily in North Carolina and South Carolina, showcasing its substantial influence in the regional banking sector.
- Long-standing Banking Operations: Since 1935, First Bank has provided tailored banking services by combining best-in-class financial solutions with local expertise, further solidifying its position in the community banking landscape.
See More
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- Strong Financial Performance: CEO Richard Moore highlighted that during the third quarter, the company maintained robust capital and liquidity while achieving meaningful increases in adjusted net income and adjusted EPS, indicating solid performance in the market.
- Significant Asset Base: As a bank holding company, First Bancorp boasts total assets of $12.8 billion and operates 113 branches primarily serving communities in North Carolina and South Carolina, enhancing its competitive position in the banking sector.
- Long-standing Banking Operations: Since 1935, First Bank has provided tailored banking services by combining best-in-class financial solutions with local expertise, further solidifying its position in the community banking landscape.
See More
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- Executive Retirement Announcement: First BanCorp has announced that CFO Orlando Berges will retire on June 30, 2026, after nearly 17 years of distinguished service, during which he played a central role in the corporation's transformation and long-term strengthening.
- Successor Appointment: The company also announced that current Senior Vice President and Chief Accounting Officer Said Ortiz will take over as CFO effective July 1, 2026; Ortiz joined the corporation in 2013 and brings over 19 years of experience in accounting, auditing, and financial management.
- Seamless Transition Plan: Berges and Ortiz will work closely over the coming months to ensure a smooth transition, reflecting the company's commitment to leadership stability.
- Leadership Succession: This executive change not only recognizes internal talent but also lays the groundwork for future financial management and strategic development, ensuring the company remains competitive in an evolving market environment.
See More
First Bancorp Board Member Retires
- Board Member Retirement: Mary Clara Capel retired immediately on January 27, 2026, concluding her service on the First Bancorp and First Bank Board since 2005, marking a significant leadership change for the company.
- Family Service History: The Capel family's service to First Bancorp spans nearly 70 years, beginning with Jesse Capel's board membership in 1959, showcasing the family's profound influence on the company.
- Extensive Business Experience: Mary Clara Capel served as Director of Administration and Marketing at Capel, Incorporated for 37 years, facilitating the company's transformation from a local rug manufacturer to a global importer and exporter, bringing invaluable executive decision-making skills.
- Company's Gratitude: First Bancorp expresses deep gratitude for the Capel family's nearly seven decades of dedication, emphasizing that their leadership has been instrumental in the company's growth and success.
See More
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- Earnings Beat: First Bancorp reported a Q4 Non-GAAP EPS of $1.19, exceeding market expectations by $0.15, indicating resilience in its profitability amidst challenging conditions.
- Revenue Decline: The company's revenue of $83.9 million represents a 5.6% year-over-year decline and fell short of market expectations, reflecting pressures on overall business performance.
- Market Reaction: Given the revenue miss, investors may adopt a cautious outlook on the company's future growth prospects, potentially impacting stock price performance.
- Financial Health: Despite the revenue decline, First Bancorp must focus on maintaining its financial health to ensure stable profitability in a competitive market environment.
See More
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- Interest Income Growth: The net interest income for Q4 reached $106.2 million, up 3.6% from $102.5 million in Q3 and a 19.5% increase year-over-year, primarily driven by improved loan yields and effective management of deposit costs.
- Strong Capital Ratios: As of December 31, 2025, First Bancorp's total risk-based capital ratio stood at 16.08%, down from 16.58% in Q3, yet still above regulatory requirements, indicating a robust capital structure while expanding loans.
- Effective Expense Control: Noninterest expenses for Q4 totaled $62.2 million, slightly up from $60.2 million in Q3, but only a 6.3% increase year-over-year, reflecting the company's ability to manage costs effectively while expanding its operations.
See More
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- Dividend Declaration: First Bancorp has declared a cash dividend of $0.23 per share payable on January 25, 2026, to shareholders of record as of December 31, 2025, demonstrating the company's ongoing commitment to shareholder returns.
- Strong Financial Performance: CEO Richard Moore highlighted that the company maintained strong capital and liquidity during the third quarter while achieving meaningful increases in adjusted net income and adjusted EPS, indicating robust operational performance in the market.
- Significant Asset Base: As a bank holding company, First Bancorp boasts total assets of $12.8 billion and operates 113 branches primarily in North Carolina and South Carolina, showcasing its substantial influence in the regional banking sector.
- Long-standing Banking Operations: Since 1935, First Bank has provided tailored banking services by combining best-in-class financial solutions with local expertise, further solidifying its position in the community banking landscape.
See More
First Bancorp Declares $0.23 Cash Dividend Per Share
- Dividend Declaration: First Bancorp has announced a cash dividend of $0.23 per share payable on January 25, 2026, to shareholders of record as of December 31, 2025, reflecting the company's ongoing commitment to shareholder returns.
- Strong Financial Performance: CEO Richard Moore highlighted that during the third quarter, the company maintained robust capital and liquidity while achieving meaningful increases in adjusted net income and adjusted EPS, indicating solid performance in the market.
- Significant Asset Base: As a bank holding company, First Bancorp boasts total assets of $12.8 billion and operates 113 branches primarily serving communities in North Carolina and South Carolina, enhancing its competitive position in the banking sector.
- Long-standing Banking Operations: Since 1935, First Bank has provided tailored banking services by combining best-in-class financial solutions with local expertise, further solidifying its position in the community banking landscape.
See More
