![FIRST BANCORP /NC/ [FBNC] reports annual net loss of $104.1 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FFBNC.png&w=3840&q=75)
FIRST BANCORP /NC/ [FBNC] reports annual net loss of $104.1 million
Company Reports Revenue of $488.8 million
FIRST BANCORP /NC/ [FBNC] has reported a net loss of $104.1 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $488.8 million
Based in SOUTHERN PINES, North Carolina, FIRST BANCORP /NC/ operates in the FINANCE sector.
Interest income for the 12 months ended December 31, 2023, amounted to $488.8 million, showing an increase from $341.0 million in the same period of 2022 and $255.9 million in 2021. The interest and fees on loans contributed significantly to this rise.
Interest expenses for the same period were $142.1 million, rising from $16.1 million in 2022 and $9.5 million in 2021. The growth in interest expenses was primarily driven by higher interest on deposits and borrowings.
