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Condensed Parent Company Information (Tables)
 12 Months Ended
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