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Condensed Parent Company Information | 12 Months Ended
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Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Parent Company Information | Note 18. Condensed Parent Company Information 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 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 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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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.7-05(c)(Schedule II)) -URI http://asc.fasb.org/extlink&oid=6879921&loc=d3e569147-122900 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=96868048&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule I)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 + Details
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