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Condensed Parent Company Information (Tables) | 12 Months Ended
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Dec. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed financial data for First Bancorp (parent company only) CONDENSED BALANCE SHEETS | Condensed financial data for First Bancorp (parent company only) follows:
CONDENSED BALANCE SHEETS |  | As of December 31, |
($ in thousands) |  | 2016 |  |  | 2015 |
Assets |  |  |  |  |  |  |  |
Cash on deposit with bank subsidiary |  | $ | 4,530 |  |  |  | 3,816 |
Investment in wholly-owned subsidiaries, at equity |  |  | 410,261 |  |  |  | 384,926 |
Premises and Equipment |  |  | 7 |  |  |  | 7 |
Other assets |  |  | 1,659 |  |  |  | 1,652 |
Total assets |  | $ | 416,457 |  |  |  | 390,401 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |
Trust preferred securities |  | $ | 46,394 |  |  |  | 46,394 |
Other liabilities |  |  | 1,962 |  |  |  | 1,817 |
Total liabilities |  |  | 48,356 |  |  |  | 48,211 |
Shareholders’ equity |  |  | 368,101 |  |  |  | 342,190 |
Total liabilities and shareholders’ equity |  | $ | 416,457 |  |  |  | 390,401 |
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF INCOME |
CONDENSED STATEMENTS OF INCOME |  | Year Ended December 31, |
($ in thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Dividends from wholly-owned subsidiaries |  | $ | 9,000 |  |  |  | 72,500 |  |  |  | 9,000 |
Earnings of wholly-owned subsidiaries, net of dividends |  |  | 20,517 |  |  |  | (43,328 | ) |  |  | 18,343 |
Interest expense |  |  | (1,216 | ) |  |  | (1,032 | ) |  |  | (1,007 | )
All other income and expenses, net |  |  | (792 | ) |  |  | (1,106 | ) |  |  | (1,340 | )
Net income |  |  | 27,509 |  |  |  | 27,034 |  |  |  | 24,996 |
Preferred stock dividends |  |  | (175 | ) |  |  | (603 | ) |  |  | (868 | )
Net income available to common shareholders |  | $ | 27,334 |  |  |  | 26,431 |  |  |  | 24,128 |
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF CASH FLOWS |
CONDENSED STATEMENTS OF CASH FLOWS |  | Year Ended December 31, |
($ in thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 27,509 |  |  |  | 27,034 |  |  |  | 24,996 |
Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) |  |  | (20,517 | ) |  |  | 43,328 |  |  |  | (18,343 | )
Decrease in other assets |  |  | 15 |  |  |  | 1 |  |  |  | 23 |
Increase (decrease) in other liabilities |  |  | 130 |  |  |  | (272 | ) |  |  | 489 |
Total – operating activities |  |  | 7,137 |  |  |  | 70,091 |  |  |  | 7,165 |
Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Payment of preferred and common cash dividends |  |  | (6,632 | ) |  |  | (7,105 | ) |  |  | (7,171 | )
Redemption of preferred stock |  |  | — |  |  |  | (63,500 | ) |  |  | — |
Proceeds from issuance of common stock |  |  | 375 |  |  |  | 112 |  |  |  | 70 |
Stock withheld for payment of taxes |  |  | (166 | ) |  |  | (54 | ) |  |  | — |
Total - financing activities |  |  | (6,423 | ) |  |  | (70,547 | ) |  |  | (7,101 | )
Net increase (decrease) in cash |  |  | 714 |  |  |  | (456 | ) |  |  | 64 |
Cash, beginning of year |  |  | 3,816 |  |  |  | 4,272 |  |  |  | 4,208 |
Cash, end of year |  | $ | 4,530 |  |  |  | 3,816 |  |  |  | 4,272 |

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