A Strong Start to 2025: First Bank Reports Solid Q1 Results and Declares Dividend

Across The Carolinas 3 min read

We’re proud to share our strong performance for the first quarter of 2025, highlighting continued growth, financial strength, and our unwavering commitment to our customers, shareholders, and communities. As we celebrate our 90th year of local banking, we remain focused on delivering value across the Carolinas and beyond.

Ready to talk to an expert?

Find A Location Get In Touch

Q1 2025 at a Glance

We delivered a solid financial start to the year, with $12.4 billion in total assets, $10.7 billion in deposits, and $8.1 billion in total loans as of March 31.

Our performance this quarter included:

$0.88 diluted earnings per share
15.54% return on average tangible common equity (ROATCE)
1.21% return on average assets (ROAA)
3.27% net interest margin

These results reflect our focus on disciplined growth, sound lending practices, and the strength of the relationships we’ve built in our communities.

View the infographic

Dividend Declared

On March 14, our Board of Directors declared a cash dividend of $0.22 per share, payable on April 25, 2025, to shareholders of record as of March 31, 2025. This continues our long-standing track record of returning value to shareholders and reflects our confidence in the long-term strength of our company.

As our CEO, Richard Moore, shared when the dividend was announced last month:
“Our Company had a strong fourth quarter performance with meaningful increases in adjusted net income and adjusted EPS while maintaining strong capital, liquidity and credit quality. We are pleased to continue distributing cash dividends to our shareholders, contributing to a valuable return on their investments.”

Our Local Footprint

With 113 branches and over 1,350 employees across North and South Carolina, we’re the largest community bank headquartered in North Carolina. We’re proud to serve individuals, families, and businesses across our footprint with a focus on personalized service and local decision-making.

A Legacy of Strength

We remain well capitalized and financially sound, with all of our capital ratios significantly exceeding regulatory requirements:

Tangible Common Equity: 8.55%
Total Capital Ratio: 16.79% (compared to the 10.5% minimum requirement)

This strong capital foundation enables us to continue supporting our customers while preparing for future growth.

Banking Built for You

From checking accounts to commercial lending, home mortgages to digital banking, we offer a full suite of financial solutions designed to make life easier for the people and businesses we serve. Our services include:

Consumer Banking: Checking, savings, credit cards, loans, and digital tools
Business Banking: SBA lending, treasury services, merchant processing, and more
Mortgages: Adjustable and fixed-rate options, FHA, VA, and construction loans
Financial Wellness: With First@Work and personalized guidance at every stage of life

Looking Ahead

As we continue through 2025, we remain committed to doing what we do best—building relationships, investing in our communities, and helping our customers achieve more. Thank you for being part of our journey.

To learn more, visit our investor website at Investor.LocalFirstBank.com.

Ready to talk to an expert?

Find A Location Get In Touch

First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

Shop Local: the Significance of a Growing Trend How do small businesses actually impact our communities? Is it really better to “shop small” instead of simply heading to the nearest big box retailer? We’ve asked the experts so that you can make an informed decision with every purchase. 4 min read

A mother and her baby daughter pick fresh strawberries from their garden on a warm late summer morning at their home. Shot in Washington state.

Bringing Home the Veggies You’re all ready to buy local and eat local, but where to start. Have you ever considered a CSA? It might sound like a new financial or insurance product, but rest assured, this acronym is all about fresh food grown or raised right near your neighborhood. 4 min read

First Bank Celebrates Twinkal Patel During Women’s History Month Twinkal Patel, First Bank’s Level III IT Specialist, wants to promote growth and education, inspiring others to achieve their goals. Twinkal was born and raised in India. Once she moved to the United States, she obtained her degree in Computer Science. Afterwards, she started her banking career as a manager in training and quickly became a branch manager. Her willingness to learn, along with the skills she has developed from her work experience have made her into the effective leader that she is today. She has had the opportunity to work in several different roles throughout her career, all of which contributed to her knowledge of banking and understanding of different departments. There is nothing she can think of that she hasn’t done, and to her that’s the beauty of working at a community bank. Twinkal stated, “Although with our merger we’re not truly titled a community bank, we are community minded. That’s the key! Being community minded is what we need to always think about and look forward to on a daily basis.” As she thought back to earlier years, she has known the most influential women in her life to be her mother and grandmother. “My mother taught me to be strong, independent, and confident,” stated Patel. For her, Twinkal’s grandmother was a great role model as her kindness, positivity, and compassion touched the lives of so many people. She is so blessed to have these two amazing women in her life, as they continue to motivate her and inspire her every single day. When asked how she views her role as a woman in leadership, Twinkal reflected and stated, “It is very important to empower your team members, regardless of their gender.” She believes that as a leader, we should be establishing an equal and positive work environment, so that each of our team members feel that they are an essential part of the team. Furthermore, we need to always remember that leaders are chosen to set a vision; they encourage and achieve goals as a team, and lead by example to earn the respect of their team members. Twinkal tells other women who want to take on more leadership roles that no dream is too big. 3 min read

First Bank is one of Fortune’s Top 100 Fastest-Growing Companies for 2019. Shot of Times Square billboard.

First Bank is One of the Top 100 Fastest-Growing Companies in the World First Bank is one of Fortune’s Top 100 Fastest-Growing Companies for 2019! 2 min read