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