FIRST BANCORP /NC/ Earnings Per Share Disclosure
| For Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ($ in thousands except per share amounts) | Income | Shares | Per Share Amount | Income | Shares | Per Share Amount | Income | Shares | Per Share Amount | |||||||||||||||||||||||||||||||||||||||||||||||
| Basic EPS: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income | $ | 111,048 | $ | 76,215 | $ | 104,131 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Less: income allocated to participating securities | (620) | (391) | (685) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basic EPS per common share | $ | 110,428 | 41,196,459 | $ | 2.68 | $ | 75,824 | 41,021,475 | $ | 1.85 | $ | 103,446 | 40,746,772 | $ | 2.54 | |||||||||||||||||||||||||||||||||||||||||
| Diluted EPS: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income | $ | 111,048 | 41,196,459 | $ | 76,215 | 41,021,475 | $ | 104,131 | 40,746,772 | |||||||||||||||||||||||||||||||||||||||||||||||
| Effect of Dilutive Securities | — | 256,788 | — | 305,741 | — | 418,062 | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Diluted EPS per common share | $ | 111,048 | 41,453,247 | $ | 2.68 | $ | 76,215 | 41,327,216 | $ | 1.84 | $ | 104,131 | 41,164,834 | $ | 2.53 | |||||||||||||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Feb 26, 2021 | |
| 2019 | Feb 28, 2020 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.