FBNC — what changed in the latest 10-Q
A section-by-section comparison of FBNC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-02 vs the prior 10-Q · 2026-08-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +71 | −65 | ~39 | 40 |
| Market risk (Item 3) | Text added/removed | +1 | −3 | ~6 | 14 |
| Controls & procedures | Text added/removed | 0 | −1 | ~3 | 3 |
| Legal proceedings | Text added/removed | 0 | −1 | ~2 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-02
On July 14, 2026, the Company announced an agreement to acquire First Carolina Bancshares Corporation
("First Carolina"), the parent company of Carolina Bank & Trust Company ("Carolina Bank"), headquartered in Florence, South Carolina, for approximately $166.0 million calculated on First Bancorp's stock price of $64.22 as of July 13, 2026, comprised of approximately 75% stock and 25% cash. The acqui…
Carolina Bank currently operates 14 banking locations in South Carolina. First Carolina reported assets of $820 million, gross loans of $589 million and deposits of $702 million as of September 30, 2026. The acquisition would increase the Company's market share in the Pee Dee Region of South Carolin…
Overview and Highlights for the Three Months Ended September 30, 2026
We earned net income of $51.3 million, or $1.24 diluted EPS, during the third quarter of 2026 compared to net income of $20.4 million, or $0.49 diluted EPS, for the third quarter of 2025 (the "like quarter"). Our increased earnings was driven by a $12.3 million increase in net interest income over t…
Text removed vs the prior filing · source: 10-Q · 2026-08-06
Overview and Highlights for the Three Months Ended June 30, 2026
We earned net income of $50.5 million, or $1.22 diluted EPS, during the second quarter of 2026 compared to net income of $38.6 million, or $0.93 diluted EPS, for the second quarter of 2025 (the "like quarter"). Our increased earnings was driven by a $14.6 million increase in net interest income over…
•Net interest income for the second quarter of 2026 was $111.3 million, a 15.1% increase from the $96.7 million recorded in the like quarter. There was a shift in the mix of interest-earning assets between periods, with average loans growing $708.9 million, while average taxable securities contracte…
•Net interest margin ("NIM") increased 39 basis points to 3.71% in the second quarter of 2026 from 3.32% in the like quarter as a result of the higher average balance of loans, improved yields on securities and lower cost of funds, notably money market deposits.
•We remained well-capitalized by all regulatory standards. Risk-based capital ratios contracted slightly during the quarter with a total common equity Tier 1 ratio of 14.09%, Tier 1 risk-based capital ratio of 14.81% and total risk-based capital ratio of 16.06% at June 30, 2026, all down from June 3…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-11-02
When interest rates change, the yields we earn on our interest-earning assets and the rates we pay on our interest-bearing liabilities do not necessarily move in tandem with each other because of the difference between their maturities and repricing characteristics and this can negatively impact net…
Text removed vs the prior filing · source: 10-Q · 2026-08-06
When interest rates change, the yields we earn on our interest-earning assets and the rates we pay on our interest-bearing liabilities do not necessarily move in tandem with each other because of the difference between their maturities and repricing characteristics and this can negatively impact net…
rates and monetary policy influence not only the interest we receive on loans and investments and the amount of interest we pay on deposits and borrowings, but such changes could also affect the average duration of our loan portfolio, investment securities and other interest-earning assets.
exposure were to be identified, it is the Company’s policy to establish and accrue appropriate reserves during the accounting period in which a loss is deemed to be probable and the amount is reasonably estimable.
Controls & procedures
Text removed vs the prior filing · source: 10-Q · 2026-08-06
exposure were to be identified, it is the Company’s policy to establish and accrue appropriate reserves during the accounting period in which a loss is deemed to be probable and the amount is reasonably estimable.
Legal proceedings
Text removed vs the prior filing · source: 10-Q · 2026-08-06
exposure were to be identified, it is the Company’s policy to establish and accrue appropriate reserves during the accounting period in which a loss is deemed to be probable and the amount is reasonably estimable.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice