1 unchanged sentence
Our common stock trades on NASDAQ under the trading symbol “FBNC.” Tables have been included in Item 7 under the heading, "Selected Consolidated Financial Data," which provide historic information on the market price for the Company’s common stock.
−Removed: As of December 31, 2021, there were approximately 3,210 shareholders of record and another 13,358 shareholders whose stock is held in “street name.”
−Removed: These tables in Item 7 also include information regarding cash dividends declared per share of common stock for the annual and quarterly periods presented.
+Added: As of February 27, 2023, there were approximately 3,563 shareholders of record and another approximately 17,497 shareholders whose stock is held in “street name.”
+Added: The tables in Item 7 also include information regarding cash dividends declared per share of common stock for the periods presented.
For each quarter in 2022, we declared a cash dividend of $0.22 per common share.
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However, our ability to pay future cash dividends can be restricted or eliminated by regulatory authorities.
−Removed: See Note 15 to the Consolidated Financial Statements and "Capital Resources and Shareholders' Equity" section in Item 7 for additional discussion.
Performance Graph
−Removed: The performance graph shown below compares the Company’s cumulative total return to shareholders for the five-year period commencing December 31, 2016 and ending December 31, 2021, with the cumulative total return of the Russell 2000 Index (reflecting overall stock market performance of small-capitalization companies), and the S&P Regional Banks Select Industry Index, as constructed by SNL Securities, LP (reflecting changes in banking industry stocks).
−Removed: The graph and table assume that $100 was invested on December 31, 2016 in each of the Company’s common stock, the Russell 2000 Index, and the S&P Regional Bank Index, and that all dividends were reinvested.
+Added: The performance graph shown below compares the Company’s cumulative total return to shareholders for the five-year period commencing December 31, 2017 and ending December 31, 2022, with the cumulative total return of the Russell 2000 Index (reflecting overall stock market performance of small-capitalization companies), and the S&P U.S.
+Added: BMI Banks Industry Group Index, as constructed by S & P Global (reflecting performance in broad market banking industry stocks).
+Added: The graph and table assume that $100 was invested on December 31, 2017 in each of the Company’s common stock, the Russell 2000 Index, and the S&P U.S.
+Added: BMI Banks Industry Group Index, and that all dividends were reinvested.
First Bancorp Comparison of Five-Year Total Return Performances (1)
−Removed: Five Years Ending December 31, 2021
+Added: Five Years Ended December 31, 2022
Total Return Index Values (1)
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First Bancorp $ 100.00 (106.50) 115.93 101.19 139.29 133.49
−Removed: $ 100.00 131.41 122.88 152.38 133.16 183.31
−Removed: 100.00 114.65 102.02 128.06 153.62 176.39
−Removed: S&P Regional Banks Select Industry Index 100.00 107.95 87.69 111.92 103.98 145.47
+Added: Russell 2000 Index 100.00 (111.01) 111.70 134.00 153.85 122.41
+Added: S&P US BMI Banks Industry Group Index 100.00 (116.46) 114.74 100.10 136.10 112.89
_____________
−Removed: (1) Total return indices were provided from an independent source, SNL Securities LP, Charlottesville, Virginia, and assume initial investment of $100 on December 31, 2016, reinvestment of dividends, and changes in market values.
+Added: (1) Total return indices were provided from an independent source, S&P Global Market Intelligence, New York, New York, and assume initial investment of $100 on December 31, 2017, reinvestment of dividends, and changes in market values.
Total return index numerical values used in this example are for illustrative purposes only.
Issuer Purchases of Equity Securities
−Removed: Pursuant to authorizations by the Board, the Company has from time to time repurchased shares of common stock in private transactions and in open-market purchases.
−Removed: Issuer Purchases of Equity Securities
−Removed: Period Total Number of Shares
−Removed: Purchased Average Price
−Removed: Paid Per Share Total Number of Shares
−Removed: Purchased as Part of
−Removed: Publicly Announced Plans
−Removed: or Programs (1) Maximum Number of Shares (or Approximate Dollar Value)
−Removed: That May Yet Be Purchased
−Removed: Under the Plans or Programs
−Removed: Month #1 (October 1, 2021 to October 31, 2021) — $ — — $ 15,964,472
−Removed: Month #2 (November 1, 2021 to November 30, 2021) — — — 15,964,472
−Removed: Month #3 (December 1, 2021 to December 31, 2021) — — — —
−Removed: Total — $ — — $ —
−Removed: ___________________
−Removed: (1) All shares available for repurchase are pursuant to publicly announced share repurchase authorizations.
−Removed: On January 27, 2021, the Company reported the authorization of a $20 million repurchase program which expired on December 31, 2021.
−Removed: On February 7, 2022 the Company reported the authorization of a $40 million repurchase program with an expiration date of December 31, 2022.
+Added: Pursuant to authorizations by the Board, the Company from time to time has repurchased shares of common stock in private transactions and in open-market purchases.
+Added: During 2022, the Company did not repurchase any shares of the Company's common stock.
+Added: The $40.0 million repurchase authorization in effect during 2022 expired December 31, 2022 and the Board has not adopted additional repurchase authorizations.
Also see “Additional Information Regarding the Registrant’s Equity Compensation Plans” in Item 12.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.