第一银行(卡罗莱纳州) 2026年季度报告

FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026 Commission File Number 0-15572 28387(Zip Code) (910) 246-2500 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on whichregistered:The Nasdaq Global Select Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one) If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No The number of shares of the registrant's Common Stock outstanding on April30, 2026 was 41,375,413. INDEXFIRST BANCORP AND SUBSIDIARIES Part I.Financial Information Item 1 - Financial Statements (unaudited)Consolidated Balance Sheets4Consolidated Statements of Income5Consolidated Statements of Comprehensive Income (Loss)6Consolidated Statements of Shareholders’ Equity7Consolidated Statements of Cash Flows8Notes to Consolidated Financial Statements10Item 2 – Management’s Discussion and Analysis of Consolidated Results of Operations and Financial Condition32Item 3 – Quantitative and Qualitative Disclosures About Market Risk45Item 4 – Controls and Procedures47 Part II.Other Information Item 1 – Legal ProceedingsItem 1A – Risk FactorsItem 5 - Other InformationItem 6 – ExhibitsSignatures FORWARD-LOOKING STATEMENTS Part I of this report contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Actof 1934 and the Private Securities Litigation Reform Act of 1995, which statements are inherently subject to risks anduncertainties. Forward-looking statements are statements that include projections, predictions, expectations or beliefsabout future events or results or otherwise are not statements of historical fact. Further, forward-looking statements areintended to speak only as of the date made. Such statements are often characterized by the use of qualifying words (andtheir derivatives) such as “expect,” “believe,” “estimate,” “plan,” “project,” or other statements concerning our opinions orjudgment about future events. Our actual results may differ materially from those anticipated in any forward-lookingstatements, as they will depend on many factors about which we are unsure, including many factors which are beyond ourcontrol. Factors that could influence the accuracy of such forward-looking statements include, but are not limited to, thefinancial success or changing strategies of our customers, our level of success in integrating acquisitions, actions ofgovernment regulators, the level of market interest rates, geopolitical influences and general economic conditions. Foradditional information about factors that could affect the matters discussed in this paragraph, see the “Risk Factors”section of our 2025 Annual Report on Form 10-K ("2025 Annual Report") and Item 1A of Part II of this report. First BancorpConsolidated Statements of Comprehensive Income (Loss) First BancorpNotes to Consolidated Financial Statements(unaudited) Note 1. Organization and Basis of Presentation The consolidated financial statements include the accounts of First Bancorp (the “Company”) and its wholly ownedsubsidiary First Bank (the “Bank”). The Bank has two wholly owned subsidiaries that are fully consolidated, MagnoliaFinancial, Inc. ("Magnolia Financial"), and First Troy SPE, LLC. All significant intercompany accounts and transactionshave been eliminated. The Bank formerly operated a third subsidiary, SBA Complete, Inc. ("SBA Complete"), which specialized in providingconsulting services for financial institutions across the country related to Small Business Administration (“SBA”) loanorigination and servicing. During the second quarter of 2024, SBA Complete became inactive w