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Condensed Parent Company Information (Tables) | 12 Months Ended
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Dec. 31, 2017
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) |  | 2017 |  |  | 2016 |
Assets |  |  |  |  |  |  |  |
Cash on deposit with bank subsidiary |  | $ | 4,535 |  |  |  | 4,530 |
Investment in wholly-owned subsidiaries, at equity |  |  | 745,669 |  |  |  | 410,261 |
Premises and Equipment |  |  | 7 |  |  |  | 7 |
Other assets |  |  | — |  |  |  | 1,659 |
Total assets |  | $ | 750,211 |  |  |  | 416,457 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |
Trust preferred securities |  | $ | 53,758 |  |  |  | 46,394 |
Other liabilities |  |  | 3,474 |  |  |  | 1,962 |
Total liabilities |  |  | 57,232 |  |  |  | 48,356 |
Shareholders’ equity |  |  | 692,979 |  |  |  | 368,101 |
Total liabilities and shareholders’ equity |  | $ | 750,211 |  |  |  | 416,457 |
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF INCOME |
CONDENSED STATEMENTS OF INCOME |  | Year Ended December 31, |
($ in thousands) |  | 2017 |  |  | 2016 |  |  | 2015 |
Dividends from wholly-owned subsidiaries |  | $ | 52,732 |  |  |  | 9,000 |  |  |  | 72,500 |
Earnings of wholly-owned subsidiaries, net of dividends |  |  | (4,793 | ) |  |  | 20,517 |  |  |  | (43,328 | )
Interest expense |  |  | (1,867 | ) |  |  | (1,216 | ) |  |  | (1,032 | )
All other income and expenses, net |  |  | (100 | ) |  |  | (792 | ) |  |  | (1,106 | )
Net income |  |  | 45,972 |  |  |  | 27,509 |  |  |  | 27,034 |
Preferred stock dividends |  |  | — |  |  |  | (175 | ) |  |  | (603 | )
Net income available to common shareholders |  | $ | 45,972 |  |  |  | 27,334 |  |  |  | 26,431 |
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) |  | 2017 |  |  | 2016 |  |  | 2015 |
Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 45,972 |  |  |  | 27,509 |  |  |  | 27,034 |
Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) |  |  | 4,793 |  |  |  | (20,517 | ) |  |  | 43,328 |
Decrease in other assets |  |  | 283 |  |  |  | 15 |  |  |  | 1 |
Increase (decrease) in other liabilities |  |  | (67 | ) |  |  | 130 |  |  |  | (272 | )
Total – operating activities |  |  | 50,981 |  |  |  | 7,137 |  |  |  | 70,091 |
Investing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Downstream cash investment to subsidiary |  |  | (9,000 | ) |  |  | — |  |  |  | — |
Note receivable proceeds received |  |  | 3,054 |  |  |  |  |  |  |  |  |
Proceeds from sales of investments |  |  | 174 |  |  |  | — |  |  |  | — |
Net cash paid in acquisitions |  |  | (37,664 | ) |  |  | — |  |  |  | — |
Total - investing activities |  |  | (43,436 | ) |  |  | — |  |  |  | — |
Financing Activities: |  |  |  |  |  |  |  |  |  |  |  |
Payment of preferred and common cash dividends |  |  | (7,596 | ) |  |  | (6,632 | ) |  |  | (7,105 | )
Redemption of preferred stock |  |  | — |  |  |  | — |  |  |  | (63,500 | )
Proceeds from issuance of common stock |  |  | 287 |  |  |  | 375 |  |  |  | 112 |
Stock withheld for payment of taxes |  |  | (231 | ) |  |  | (166 | ) |  |  | (54 | )
Total - financing activities |  |  | (7,540 | ) |  |  | (6,423 | ) |  |  | (70,547 | )
Net increase (decrease) in cash |  |  | 5 |  |  |  | 714 |  |  |  | (456 | )
Cash, beginning of year |  |  | 4,530 |  |  |  | 3,816 |  |  |  | 4,272 |
Cash, end of year |  | $ | 4,535 |  |  |  | 4,530 |  |  |  | 3,816 |

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