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Condensed Parent Company Information (Tables)
 12 Months Ended
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