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First Bancorp FBNC Bank Owned Life Insurance

Bank Owned Life Insurance at other companies

First Commonwealth Financial logo
First Commonwealth FinancialFCF
$234.92M+2.0%
Old National Bancorp logo
Old National BancorpONB
$1.05B+22.8%
WaFd, Inc. logo
WaFd, Inc.WAFD
$279.1M+2.9%
Simmons First National logo
Simmons First NationalSFNC
$542.49M+1.3%
Customers Bancorp logo
Customers BancorpCUBI
$306.93M+2.8%
Renasant logo
RenasantRNST
$494.87M+46.6%

Other financials

Income statement

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Revenue$122.3M+15.6%
Net income$46.7M+28.2%
EPS (diluted)$1.13+28.4%

Balance sheet

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Cash & equivalents$598.0M-22.6%
Total debt$89.2M-16.1%
Total equity$1.7B+11.6%
Total assets$12.9B+4.1%

Cash flow

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Operating cash flow$61.2M+16.4%
CapEx$1.9M+673%
Free cash flow$59.3M+13.3%

Valuation

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Market cap$2.57B+40.7%
Enterprise value$2.06B+83.8%
P/E21.2×+0.3×
P/S6.3×+1.3×

Profitability

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Net margin29.8%+5.8pp
FCF margin50.6%-17.1pp

Returns & leverage

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Return on equity7.6%+1.5pp
Debt / equity0.1×0.0×

Where this comes from

Reported directly by First Bancorp in its filing.

Tagged under the XBRL concept us-gaap:BankOwnedLifeInsurance.

The official record: First Bancorp’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is First Bancorp's bank owned life insurance?
First Bancorp (FBNC) reported bank owned life insurance of $194.63M in Q1 2026.
How has First Bancorp's bank owned life insurance changed year-over-year?
First Bancorp's bank owned life insurance increased by 2.7% year-over-year, from $189.6M to $194.63M.
What is the long-term trend for First Bancorp's bank owned life insurance?
Over 5 years (2020 to 2025), First Bancorp's bank owned life insurance has grown at a 12.6% compound annual growth rate (CAGR), from $106.97M to $193.29M.
What does bank owned life insurance mean?
Bank Owned Life Insurance (BOLI) consists of life insurance policies purchased by the bank on the lives of key employees, where the bank is the beneficiary. The cash surrender value of these policies is recorded as an asset, providing a tax-advantaged method to offset the costs of employee benefit plans. It serves as a long-term investment vehicle that generates stable, non-interest income.