First Bancorp Management

Management criteria checks 4/4

First Bancorp's CEO is Richard Moore, appointed in Jun 2012, has a tenure of 12.58 years. total yearly compensation is $1.24M, comprised of 42.2% salary and 57.8% bonuses, including company stock and options. directly owns 0.45% of the company’s shares, worth $8.31M. The average tenure of the management team and the board of directors is 3.2 years and 8.8 years respectively.

Key information

Richard Moore

Chief executive officer

US$1.2m

Total compensation

CEO salary percentage	42.2%
CEO tenure	12.6yrs
CEO ownership	0.5%
Management average tenure	3.2yrs
Board average tenure	8.8yrs

Recent management updates

Recent updates

First Bancorp: Earnings To Grow But Stock Appears Overvalued

Dec 19

First Bancorp's (NASDAQ:FBNC) Dividend Will Be $0.22

Jun 18

Some Shareholders May Object To A Pay Rise For First Bancorp's (NASDAQ:FBNC) CEO This Year

Apr 26

We Ran A Stock Scan For Earnings Growth And First Bancorp (NASDAQ:FBNC) Passed With Ease

Mar 01

First Bancorp declares $0.22 dividend

Sep 15

First Bancorp upgraded to Overweight at Piper after YTD underperformance

Aug 18

First Bancorp (NASDAQ:FBNC) Is Increasing Its Dividend To US$0.22

Feb 10

Here's Why I Think First Bancorp (NASDAQ:FBNC) Might Deserve Your Attention Today

Dec 28

I Ran A Stock Scan For Earnings Growth And First Bancorp (NASDAQ:FBNC) Passed With Ease

Aug 11

First Bancorp declares $0.20 dividend

Jun 15

CEO Compensation Analysis

How has Richard Moore's remuneration changed compared to First Bancorp's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$102m
Jun 30 2024	n/a	n/a	US$113m
Mar 31 2024	n/a	n/a	US$113m
Dec 31 2023	US$1m	US$525k	US$103m
Sep 30 2023	n/a	n/a	US$112m
Jun 30 2023	n/a	n/a	US$120m
Mar 31 2023	n/a	n/a	US$127m
Dec 31 2022	US$1m	US$519k	US$146m
Sep 30 2022	n/a	n/a	US$118m
Jun 30 2022	n/a	n/a	US$108m
Mar 31 2022	n/a	n/a	US$101m
Dec 31 2021	US$1m	US$466k	US$95m
Sep 30 2021	n/a	n/a	US$108m
Jun 30 2021	n/a	n/a	US$104m
Mar 31 2021	n/a	n/a	US$91m
Dec 31 2020	US$1m	US$409k	US$81m
Sep 30 2020	n/a	n/a	US$78m
Jun 30 2020	n/a	n/a	US$80m
Mar 31 2020	n/a	n/a	US$87m
Dec 31 2019	US$1m	US$400k	US$92m
Sep 30 2019	n/a	n/a	US$95m
Jun 30 2019	n/a	n/a	US$92m
Mar 31 2019	n/a	n/a	US$91m
Dec 31 2018	US$1m	US$400k	US$89m

Compensation vs Market: Richard's total compensation ($USD1.24M) is below average for companies of similar size in the US market ($USD5.35M).

Compensation vs Earnings: Richard's compensation has been consistent with company performance over the past year.

CEO

Richard Moore (63 yo)

12.6yrs

Tenure

US$1,242,921

Compensation

Mr. Richard Hancock Moore has been the Chief Executive Officer of First BanCorp since June 11, 2012. Mr. Moore served as Treasurer of First Bancorp. He served as the Chief Executive Officer of First Bank s...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Richard Moore	Chairman & CEO	12.6yrs	US$1.24m	0.45% $ 8.3m
Michael Mayer	President & Director	8.9yrs	US$1.76m	0.29% $ 5.3m
Elizabeth Bostian	Executive VP	3.2yrs	US$706.02k	0.033% $ 598.7k
Gregory Currie	President of First Bank	no data	US$810.90k	0.046% $ 851.0k
Brent Hicks	Executive VP & Chief Accounting Officer	less than a year	no data	no data
Blaise Buczkowski	Executive Vice President of Corporate Finance	less than a year	no data	0.061% $ 1.1m

3.2yrs

Average Tenure

56yo

Average Age

Experienced Management: FBNC's management team is considered experienced (3.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Richard Moore	Chairman & CEO	14.8yrs	US$1.24m	0.45% $ 8.3m
Michael Mayer	President & Director	7.9yrs	US$1.76m	0.29% $ 5.3m
James Crawford	Lead Independent Director	16.8yrs	US$87.00k	0.20% $ 3.7m
Dennis Wicker	Independent Director	23.8yrs	US$75.00k	0.070% $ 1.3m
Suzanne DeFerie	Independent Director	7.3yrs	US$87.00k	0.16% $ 3.0m
John McCauley	Independent Director	3.3yrs	US$75.00k	0.047% $ 870.1k
Frederick Taylor	Independent Director	19.7yrs	US$75.00k	0.099% $ 1.8m
Mary Capel	Independent Director	19.7yrs	US$75.00k	0.028% $ 514.3k
Dexter Perry	Independent Director	3.5yrs	US$75.00k	0.015% $ 279.2k
John Gould	Independent Director	7.3yrs	US$75.00k	0.11% $ 2.0m
O. Sloan	Independent Director	9.7yrs	US$75.00k	0.038% $ 693.5k
Abby Donnelly	Independent Director	7.8yrs	US$75.00k	0.037% $ 683.4k

8.8yrs

Average Tenure

63yo

Average Age

Experienced Board: FBNC's board of directors are considered experienced (8.8 years average tenure).

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/01/22 09:02
End of Day Share Price	2025/01/22 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

First Bancorp is covered by 8 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Paul Miller	FBR Capital Markets & Co.
Christopher Marinac	Janney Montgomery Scott LLC
Wood Lay	Keefe, Bruyette, & Woods

First Bancorp Management

Management criteria checks 4/4

Key information

Recent management updates

Lead Independent Director recently sold US$274k worth of stock

Lead Independent Director notifies of intention to sell stock

Independent Director recently sold US$869k worth of stock

Independent Director notifies of intention to sell stock

First Bancorp Announces Retirement of Mason Y. Garrett as Board of Directors

First Bancorp Announces Executive Changes

Recent updates

Third quarter dividend of US$0.22 announced

First Bancorp: Earnings To Grow But Stock Appears Overvalued

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on January 25, 2025

Price target increased by 8.4% to US$51.63

Lead Independent Director recently sold US$274k worth of stock

Lead Independent Director notifies of intention to sell stock

Third quarter 2024 earnings: EPS misses analyst expectations

Price target increased by 9.5% to US$47.63

Price target increased by 13% to US$46.13

Independent Director recently sold US$869k worth of stock

Independent Director notifies of intention to sell stock

Second quarter dividend of US$0.22 announced

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on October 25, 2024

Consensus EPS estimates increase by 12%

First Bancorp Announces Retirement of Mason Y. Garrett as Board of Directors

Second quarter 2024 earnings: EPS and revenues exceed analyst expectations

Investor sentiment improves as stock rises 19%

First Bancorp's (NASDAQ:FBNC) Dividend Will Be $0.22

First quarter dividend of US$0.22 announced

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on July 25, 2024

First Bancorp Announces Executive Changes

Some Shareholders May Object To A Pay Rise For First Bancorp's (NASDAQ:FBNC) CEO This Year

First quarter 2024 earnings: EPS and revenues miss analyst expectations

First Bancorp, Annual General Meeting, May 02, 2024

Upcoming dividend of US$0.22 per share

First Bancorp (NASDAQ:FBNC) Has Affirmed Its Dividend Of $0.22

Fourth quarter dividend of US$0.22 announced

First Bancorp Declares Cash Dividend, Payable on April 25, 2024

Full year 2023 earnings: EPS exceeds analyst expectations

New minor risk - Profit margin trend

Full year 2023 earnings: EPS exceeds analyst expectations

Price target increased by 7.6% to US$37.13

Upcoming dividend of US$0.22 per share at 2.4% yield

First Bancorp's (NASDAQ:FBNC) Dividend Will Be $0.22

First Bancorp Declares Cash Dividend, Payable on January 25, 2024

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.22 per share at 3.2% yield

First Bancorp (NASDAQ:FBNC) Has Affirmed Its Dividend Of $0.22

First Bancorp Declares Cash Dividend on Its Common Stock, Payable on October 25, 2023

Insider recently sold US$1.8m worth of stock

New major risk - Revenue and earnings growth

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

Price target decreased by 8.4% to US$36.65

Upcoming dividend of US$0.22 per share at 2.7% yield

First Bancorp (NASDAQ:FBNC) Has Affirmed Its Dividend Of $0.22

First Bancorp Declares Cash Dividend, Payable on July 25, 2023

Investor sentiment improves as stock rises 17%

Consensus EPS estimates fall by 17%

Price target decreased by 9.4% to US$40.55

First quarter 2023 earnings: EPS and revenues miss analyst expectations

Upcoming dividend of US$0.22 per share at 2.5% yield

First Bancorp (NASDAQ:FBNC) Will Pay A Dividend Of $0.22

Full year 2022 earnings: Revenues and EPS in line with analyst expectations

We Ran A Stock Scan For Earnings Growth And First Bancorp (NASDAQ:FBNC) Passed With Ease

Full year 2022 earnings: Revenues in line with analyst expectations

Upcoming dividend of US$0.22 per share

First Bancorp Announces Cash Dividend, Payable on January 25, 2023

Price target increased to US$50.00

Price target increased to US$50.00

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Upcoming dividend of US$0.22 per share

First Bancorp Declares Cash Dividend, Payable on October 25, 2022

First Bancorp declares $0.22 dividend

First Bancorp upgraded to Overweight at Piper after YTD underperformance

Second quarter 2022 earnings: EPS exceeds analyst expectations

First Bancorp (NasdaqGS:FBNC) entered in a definitive merger agreement to acquire GrandSouth Bancorporation (OTCPK:GRRB) for approximately $160 million.

Upcoming dividend of US$0.22 per share

First Bancorp Announces Cash Dividend, Payable on July 25, 2022

Chairman & CEO recently bought US$100k worth of stock