Regional Bank Stock Up 33% as $3.7 Million Exit Tells a Different Story

1 week ago 7

Jonathan Ponciano, The Motley Fool

Tue, March 24, 2026 astatine 11:10 AM CDT 4 min read

Old North State Trust reported selling retired of First Bancorp (NASDAQ:FBNC) successful a March 24, 2026, SEC filing, with the estimated commercialized worth astatine $3.70 cardinal based connected quarterly mean pricing.

According to an SEC filing dated March 24, 2026, Old North State Trust reported selling its full holding of 72,921 shares successful First Bancorp (NASDAQ:FBNC). The estimated worth of the shares sold during the 4th was $3.70 million, calculated utilizing the mean unadjusted closing terms implicit the period. The fund’s quarter-end presumption successful First Bancorp is present zero, down from 2.3% of AUM successful the anterior quarter.

Top holdings aft the filing:
- NASDAQ: AAPL: $14.87 cardinal (8.8% of AUM)
- NYSEMKT: SPY: $11.33 cardinal (6.7% of AUM)
- NASDAQ: NVDA: $9.20 cardinal (5.4% of AUM)
- NYSE: LLY: $7.97 cardinal (4.7% of AUM)
- NASDAQ: MSFT: $6.72 cardinal (4.0% of AUM)
As of March 23, 2026, First Bancorp shares were priced astatine $54.18, up 33.1% implicit the past year, outperforming the S&P 500 by 20.25 percent points.

Metric

Value

Revenue (TTM)	$543.12 million
Net Income (TTM)	$111.05 million
Dividend Yield	1.68%
Price (as of marketplace adjacent 2026-03-23)	$54.18

First Bancorp offers a broad scope of banking products, including deposit accounts, commercialized and user loans, mortgages, concern and security solutions, and integer banking services.
The steadfast generates gross chiefly done involvement income connected loans, fees from banking and fiscal services, and commissions from concern and security products.
It serves individuals, tiny and medium-sized businesses, and professionals, with a geographic absorption connected North Carolina and northeastern South Carolina.

First Bancorp is simply a determination fiscal services supplier operating done an extended subdivision web successful the Carolinas. The institution offers a diversified merchandise suite that includes deposit accounts, assorted indebtedness types, concern and security products, and integer banking services. Its absorption connected assemblage banking and the proviso of integer capabilities and tailored fiscal solutions is supported by its divers banking, investment, and security offerings successful the Carolinas.

First Bancorp has been flying nether the radar arsenic a coagulated performer, gaining much than 30% implicit the past year, importantly outpacing the wide market. However, the concern is simply a spot much analyzable than it appears. Recent results bespeak that the slope is inactive reaping the benefits of higher involvement rates, with nett involvement income hitting astir $106 cardinal successful the 4th fourth and margins improving to 3.58%. Loan maturation is besides looking good, with balances expanding to astir $8.7 billion.

That said, the net representation isn't arsenic straightforward arsenic it mightiness seem. A important securities nonaccomplishment impacted reported profits, bringing quarterly nett income down to $15.7 million, contempt adjusted figures looking better.

If we look astatine this determination wrong the discourse of the broader concern landscape, it starts to consciousness little similar a circumstantial stake connected First Bancorp and much similar a displacement successful strategy. The fund’s largest holdings thin toward larger maturation companies and diversified investments, stepping distant from smaller determination banks that are much susceptible to involvement complaint fluctuations and expanding deposit costs.

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