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First Bancorp FBNC Non-cash: Initial recognition of operating lease right-of-use assets and liabilities

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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 fbnc:InitialRecognitionOfOperatingLeaseRightOfUseAssets.

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 non-cash: initial recognition of operating lease right-of-use assets and liabilities?
First Bancorp (FBNC) reported non-cash: initial recognition of operating lease right-of-use assets and liabilities of $686K in Q1 2026.
What does non-cash: initial recognition of operating lease right-of-use assets and liabilities mean?
Captures the non-cash initial recording of right-of-use assets and lease liabilities upon the commencement of new operating lease agreements. It reflects the expansion or renewal of the company's physical footprint or equipment base under accounting standards for leases.