FBNCFIRST BANCORP /NC/
State Commercial Banks
- Revenue
- $68M
- 3.6% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $2.6B
- Employees
- 1,353
- $50K revenue each
- Net debt / EBITDA
- —
- −$372M net debt
- AI in 10-K
- 0.0
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo183% of net incomeCash flow under 80% of net income
- Dilutive SBCNo6% of revenueOver 10% of revenue
- Payouts exceed cash flowNo19% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo85% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo$50K · 43rd pctBottom quartile of its SIC industry
- Quiet on AIYes0.0 per 10K words · 0th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedYes$2.6B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$5M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $25M | $17M | $33M | $70M | $68M | 3.6% |
| Net income | $96M | $147M | $104M | $76M | $111M | 46% |
| Operating cash flow | $142M | $231M | $131M | $175M | $203M | 16% |
| Capex | $9M | $5M | $4M | $3M | $4M | 60% |
| Stock-based comp | $2M | $3M | $5M | $5M | $4M | 24% |
| Buybacks | $4M | $0 | $0 | $0 | $991K | |
| Dividends | $22M | $31M | $35M | $36M | $37M | 2.9% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $15K · 1
- Open-market sells, 12 mo
- $5M · 10
- Net
- −$5M
Pay vs performance
No pay-versus-performance disclosure yet.