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Condensed Parent Company Information (Tables) | 12 Months Ended
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Dec. 31, 2018
Condensed Financial Information 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) |  | 2018 |  |  | 2017 |
Assets |  |  |  |  |  |
Cash on deposit with bank subsidiary |  | $ | 5,544 |  |  |  | 4,535 |
Investment in wholly-owned subsidiaries, at equity |  |  | 816,648 |  |  |  | 745,669 |
Premises and Equipment |  |  | 7 |  |  |  | 7 |
Other assets |  |  | — |  |  |  | — |
Total assets |  |  | 822,199 |  |  |  | 750,211 |
Liabilities and shareholders’ equity |  |  |  |  |  |  |  |
Trust preferred securities |  |  | 53,902 |  |  |  | 53,758 |
Other liabilities |  |  | 4,067 |  |  |  | 3,474 |
Total liabilities |  |  | 57,969 |  |  |  | 57,232 |
Shareholders’ equity |  |  | 764,230 |  |  |  | 692,979 |
Total liabilities and shareholders’ equity |  | $ | 822,199 |  |  |  | 750,211 |
Condensed financial data for First Bancorp (parent company only) CONDENSED STATEMENTS OF INCOME |
CONDENSED STATEMENTS OF INCOME |  | Year Ended December 31, |
($ in thousands) |  | 2018 |  |  | 2017 |  |  | 2016 |
Dividends from wholly-owned subsidiaries |  | $ | 15,525 |  |  |  | 52,732 |  |  |  | 9,000 |
Earnings of wholly-owned subsidiaries, net of dividends |  |  | 77,050 |  |  |  | (4,793 | ) |  |  | 20,517 |
Interest expense |  |  | (2,498 | ) |  |  | (1,867 | ) |  |  | (1,216 | )
All other income and expenses, net |  |  | (788 | ) |  |  | (100 | ) |  |  | (792 | )
Net income |  |  | 89,289 |  |  |  | 45,972 |  |  |  | 27,509 |
Preferred stock dividends |  |  | — |  |  |  | — |  |  |  | (175 | )
Net income available to common shareholders |  | $ | 89,289 |  |  |  | 45,972 |  |  |  | 27,334 |
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) |  | 2018 |  |  | 2017 |  |  | 2016 |
Operating Activities: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 89,289 |  |  |  | 45,972 |  |  |  | 27,509 |
Excess of dividends over earnings of subsidiaries (Equity in undistributed earnings of subsidiaries) |  |  | (77,050 | ) |  |  | 4,793 |  |  |  | (20,517 | )
Decrease (increase) in other assets |  |  | (13 | ) |  |  | 283 |  |  |  | 15 |
Increase (decrease) in other liabilities |  |  | 146 |  |  |  | (67 | ) |  |  | 130 |
Total – operating activities |  |  | 12,372 |  |  |  | 50,981 |  |  |  | 7,137 |
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 |  |  | (11,281 | ) |  |  | (7,596 | ) |  |  | (6,632 | )
Proceeds from issuance of common stock |  |  | 324 |  |  |  | 287 |  |  |  | 375 |
Stock withheld for payment of taxes |  |  | (406 | ) |  |  | (231 | ) |  |  | (166 | )
Total - financing activities |  |  | (11,363 | ) |  |  | (7,540 | ) |  |  | (6,423 | )
Net increase (decrease) in cash |  |  | 1,009 |  |  |  | 5 |  |  |  | 714 |
Cash, beginning of year |  |  | 4,535 |  |  |  | 4,530 |  |  |  | 3,816 |
Cash, end of year |  | $ | 5,544 |  |  |  | 4,535 |  |  |  | 4,530 |

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