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First Bancorp/NC – ‘10-K’ for 12/31/21 – ‘EX-31.1’

On:  Tuesday, 3/1/22, at 9:50am ET   ·   For:  12/31/21   ·   Accession #:  811589-22-10   ·   File #:  0-15572

Previous ‘10-K’:  ‘10-K’ on 2/26/21 for 12/31/20   ·   Next:  ‘10-K’ on 2/28/23 for 12/31/22   ·   Latest:  ‘10-K’ on 2/28/24 for 12/31/23   ·   32 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 3/01/22  First Bancorp/NC                  10-K       12/31/21  151:23M

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.81M 
 2: EX-4.B      Instrument Defining the Rights of Security Holders  HTML     46K 
 3: EX-21       Subsidiaries List                                   HTML     42K 
 4: EX-23.1     Consent of Expert or Counsel                        HTML     39K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     44K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     43K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     40K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     40K 
14: R1          Cover Page                                          HTML    104K 
15: R2          Audit Information                                   HTML     45K 
16: R3          Consolidated Balance Sheets                         HTML    155K 
17: R4          Consolidated Balance Sheets (Parenthetical)         HTML     56K 
18: R5          Consolidated Statements of Income                   HTML    167K 
19: R6          Consolidated Statements of Comprehensive Income     HTML     85K 
20: R7          Consolidated Statements of Shareholders' Equity     HTML    136K 
21: R8          Consolidated Statements of Shareholders' Equity     HTML     42K 
                (Parenthetical)                                                  
22: R9          Consolidated Statements of Cash Flows               HTML    191K 
23: R10         Summary of Significant Accounting Policies          HTML    108K 
24: R11         Acquisitions and Dispositions                       HTML    122K 
25: R12         Securities                                          HTML    131K 
26: R13         Loans and Asset Quality Information                 HTML    609K 
27: R14         Premises and Equipment                              HTML     51K 
28: R15         Goodwill and Other Intangible Assets                HTML     75K 
29: R16         Income Taxes                                        HTML    104K 
30: R17         Deposits                                            HTML     49K 
31: R18         Borrowings and Borrowings Availability              HTML    100K 
32: R19         Leases                                              HTML     51K 
33: R20         Employee Benefit Plans                              HTML    194K 
34: R21         Commitments and Contingencies                       HTML     57K 
35: R22         Fair Value of Financial Instruments                 HTML    135K 
36: R23         Stock-Based Compensation                            HTML     63K 
37: R24         Regulatory Restrictions                             HTML    105K 
38: R25         Supplementary Income Statement Information          HTML     51K 
39: R26         Condensed Parent Company Information                HTML     95K 
40: R27         Shareholders' Equity                                HTML     48K 
41: R28         Earnings Per Share                                  HTML     73K 
42: R29         Accumulated Other Comprehensive Income (Loss)       HTML     80K 
43: R30         Revenue from Contracts with Customers               HTML     68K 
44: R31         Subsequent Events                                   HTML     43K 
45: R32         Summary of Significant Accounting Policies          HTML    175K 
                (Policies)                                                       
46: R33         Acquisitions and Dispositions (Tables)              HTML     71K 
47: R34         Securities (Tables)                                 HTML    167K 
48: R35         Loans and Asset Quality Information (Tables)        HTML    585K 
49: R36         Premises and Equipment (Tables)                     HTML     50K 
50: R37         Goodwill and Other Intangible Assets (Tables)       HTML     75K 
51: R38         Income Taxes (Tables)                               HTML    105K 
52: R39         Deposits (Tables)                                   HTML     46K 
53: R40         Borrowings and Borrowings Availability (Tables)     HTML     89K 
54: R41         Leases (Tables)                                     HTML     48K 
55: R42         Employee Benefit Plans (Tables)                     HTML    199K 
56: R43         Commitments and Contingencies (Tables)              HTML     54K 
57: R44         Fair Value of Financial Instruments (Tables)        HTML    131K 
58: R45         Stock-Based Compensation (Tables)                   HTML     58K 
59: R46         Regulatory Restrictions (Tables)                    HTML    100K 
60: R47         Supplementary Income Statement Information          HTML     51K 
                (Tables)                                                         
61: R48         Condensed Parent Company Information (Tables)       HTML     97K 
62: R49         Earnings Per Share (Tables)                         HTML     73K 
63: R50         Accumulated Other Comprehensive Income (Loss)       HTML     79K 
                (Tables)                                                         
64: R51         Revenue from Contracts with Customers (Tables)      HTML     59K 
65: R52         Summary of Significant Accounting Policies - Basis  HTML     45K 
                of Presentation (Details)                                        
66: R53         Summary of Significant Accounting Policies -        HTML     48K 
                Operating, Accounting and Reporting Considerations               
                Related to COVID-19 (Details)                                    
67: R54         Summary of Significant Accounting Policies -        HTML     50K 
                Allowance for Credit Losses - Securities (Details)               
68: R55         Summary of Significant Accounting Policies - SBA    HTML     47K 
                and Other Loans Held for Sale (Details)                          
69: R56         Summary of Significant Accounting Policies - Loans  HTML     44K 
                (Details)                                                        
70: R57         Summary of Significant Accounting Policies -        HTML     41K 
                Purchased Credit Deteriorated Loans (Details)                    
71: R58         Summary of Significant Accounting Policies - SBA    HTML     41K 
                Loans (Details)                                                  
72: R59         Summary of Significant Accounting Policies -        HTML     45K 
                Premises and Equipment (Details)                                 
73: R60         Summary of Significant Accounting Policies -        HTML     45K 
                Goodwill and Other Intangible Assets (Details)                   
74: R61         Summary of Significant Accounting Policies - Other  HTML     41K 
                Investments (Details)                                            
75: R62         Summary of Significant Accounting Policies -        HTML     49K 
                Impairment (Details)                                             
76: R63         Summary of Significant Accounting Policies -        HTML     61K 
                Recent Accounting Pronouncements (Details)                       
77: R64         Acquisitions and Dispositions - Acquisitions,       HTML    111K 
                Narrative (Details)                                              
78: R65         Acquisitions and Dispositions - Schedule of Assets  HTML     83K 
                and Liabilities (Details)                                        
79: R66         Acquisitions and Dispositions - Acquired Loans      HTML     59K 
                (Details)                                                        
80: R67         Acquisitions and Dispositions - Summary of          HTML     50K 
                Proforma Combined (Details)                                      
81: R68         Acquisitions and Dispositions - Disposals,          HTML     61K 
                Narrative (Details)                                              
82: R69         Securities - Summary of Book Values and Fair        HTML     75K 
                Values of Investment Securities (Details)                        
83: R70         Securities - Narrative (Details)                    HTML     77K 
84: R71         Securities - Schedule of Information Regarding      HTML    102K 
                Securities with Unrealized Losses (Details)                      
85: R72         Securities - Schedule of Book Values and Fair       HTML    107K 
                Values of Investment Securities by Contractual                   
                Maturity (Details)                                               
86: R73         Loans and Asset Quality Information - Summary of    HTML     89K 
                Major Categories of Total Loans Outstanding                      
                (Details)                                                        
87: R74         Loans and Asset Quality Information - Narrative     HTML    147K 
                (Details)                                                        
88: R75         Loans and Asset Quality Information - Changes in    HTML     56K 
                Recorded Investment and Accretable Yield of PCI                  
                Loans (Details)                                                  
89: R76         Loans and Asset Quality Information - Summary of    HTML     56K 
                Nonperforming Assets (Details)                                   
90: R77         Loans and Asset Quality Information - Schedule of   HTML     66K 
                Nonaccrual Loans (Details)                                       
91: R78         Loans and Asset Quality Information - Accrued       HTML     58K 
                Interest Receivable Written Off (Details)                        
92: R79         Loans and Asset Quality Information - Schedule of   HTML    127K 
                Analysis of Payment Status of Loans (Details)                    
93: R80         Loans, Allowance for Credit Losses, and Asset       HTML     94K 
                Quality Information - Collateral Dependent Loans                 
                (Details)                                                        
94: R81         Loans and Asset Quality Information - Collateral    HTML     93K 
                Dependent Loans (Details)                                        
95: R82         Loans and Asset Quality Information - Schedule of   HTML    153K 
                Activity in Allowance for Loan Losses for Loans                  
                (Details)                                                        
96: R83         Loans and Asset Quality Information - Schedule of   HTML     90K 
                Impaired Loans (Details)                                         
97: R84         Loans and Asset Quality Information - Schedule of   HTML    238K 
                Recorded Investment in Loans by Credit Quality                   
                Indicators (Details)                                             
98: R85         Loans and Asset Quality Information - Schedule of   HTML     84K 
                Information of Loans Modified in Troubled Debt                   
                Restructuring (Details)                                          
99: R86         Loans and Asset Quality Information - Schedule of   HTML     53K 
                Accruing Restructured Loans Defaulted in Period                  
                (Details)                                                        
100: R87         Loans and Asset Quality Information - Unfunded      HTML     59K  
                Loan Commitments (Details)                                       
101: R88         Premises and Equipment (Details)                    HTML     60K  
102: R89         Goodwill and Other Intangible Assets - Summary of   HTML     59K  
                the Gross Carrying Amount and Accumulated                        
                Amortization of Intangible Assets (Details)                      
103: R90         Goodwill and Other Intangible Assets - Narrative    HTML     96K  
                (Details)                                                        
104: R91         Goodwill and Other Intangible Assets - Changes in   HTML     47K  
                Goodwill (Details)                                               
105: R92         Goodwill and Other Intangible Assets - Schedule of  HTML     55K  
                the Estimated Amortization Expense (Details)                     
106: R93         Income Taxes - Schedule of Components of Income     HTML     54K  
                Tax Expense (Details)                                            
107: R94         Income Taxes - Schedule of Deferred Tax Assets and  HTML    102K  
                Liabilities (Details)                                            
108: R95         Income Taxes - Narrative (Details)                  HTML     41K  
109: R96         Income Taxes - Schedule of Effective Tax Rate       HTML     68K  
                Reconciliation (Details)                                         
110: R97         Deposits - Schedule of Maturities of Time Deposits  HTML     54K  
                (Details)                                                        
111: R98         Deposits - Narrative (Details)                      HTML     53K  
112: R99         Borrowings and Borrowings Availability - Schedule   HTML     92K  
                of Borrowings (Details)                                          
113: R100        Borrowings and Borrowings Availability - Narrative  HTML     78K  
                (Details)                                                        
114: R101        Leases - Narrative (Details)                        HTML     65K  
115: R102        Leases - Schedule of Estimated Lease Payments       HTML     59K  
                (Details)                                                        
116: R103        Employee Benefit Plans - Narrative (Details)        HTML     85K  
117: R104        Employee Benefit Plans - Schedule of                HTML     80K  
                Reconciliation of Benefit Obligation (Details)                   
118: R105        Employee Benefit Plans - Schedule of Amounts        HTML     50K  
                Recognized in Balance Sheet (Details)                            
119: R106        Employee Benefit Plans - Schedule of Amounts        HTML     58K  
                Recognized in Other Comprehensive Income (Details)               
120: R107        Employee Benefit Plans - Schedule of                HTML     66K  
                Reconciliation of Balances in AOCI (Details)                     
121: R108        Employee Benefit Plans - Schedule of                HTML     56K  
                Reconciliation of Prepaid Pension Costs (Details)                
122: R109        Employee Benefit Plans - Schedule of Net Pension    HTML     61K  
                Costs (Details)                                                  
123: R110        Employee Benefit Plans - Schedule of Expected       HTML     57K  
                Benefit Payments (Details)                                       
124: R111        Employee Benefit Plans - Schedule of Fair Value of  HTML     61K  
                Plan Assets (Details)                                            
125: R112        Employee Benefit Plans - Schedule of Assumptions    HTML     51K  
                Used in Determining Actuarial Information                        
                (Details)                                                        
126: R113        Commitments and Contingencies - Schedule of         HTML     51K  
                Outstanding Loan Commitments (Details)                           
127: R114        Commitments and Contingencies - Narrative           HTML     44K  
                (Details)                                                        
128: R115        Fair Value of Financial Instruments - Financial     HTML     96K  
                instruments Measured at Fair Value (Details)                     
129: R116        Fair Value of Financial Instruments - Level 3       HTML     74K  
                Assets and Liabilities Measured at Fair Value                    
                (Details)                                                        
130: R117        Fair Value of Financial Instruments - Schedule of   HTML     81K  
                Carrying Amounts and Estimated Fair Values of                    
                Financial Instruments (Details)                                  
131: R118        Stock-Based Compensation - Narrative (Details)      HTML     88K  
132: R119        Stock-Based Compensation - Schedule of Outstanding  HTML     65K  
                Restricted Stock (Details)                                       
133: R120        Regulatory Restrictions - Narrative (Details)       HTML     43K  
134: R121        Regulatory Restrictions - Schedule of Capital       HTML    104K  
                Ratios (Details)                                                 
135: R122        Supplementary Income Statement Information          HTML     49K  
                (Details)                                                        
136: R123        Condensed Parent Company Information - Condensed    HTML     88K  
                Balance Sheets (Details)                                         
137: R124        Condensed Parent Company Information - Condensed    HTML     64K  
                Statements of Income (Details)                                   
138: R125        Condensed Parent Company Information - Condensed    HTML     95K  
                Statements of Cash Flows (Details)                               
139: R126        Shareholders' Equity (Details)                      HTML     62K  
140: R127        Earnings Per Share - Reconciliation of Numerators   HTML     88K  
                and Denominators (Details)                                       
141: R128        Earnings Per Share - Narrative (Details)            HTML     42K  
142: R129        Accumulated Other Comprehensive Income (Loss) -     HTML     57K  
                Schedule of Components of Accumulated Other                      
                Comprehensive Income (Details)                                   
143: R130        Accumulated Other Comprehensive Income (Loss) -     HTML     68K  
                Schedule of Changes in Accumulated Other                         
                Comprehensive Income (Loss) (Details)                            
144: R131        Revenue from Contracts with Customers -             HTML     61K  
                Disaggregation of Revenue (Details)                              
145: R132        Revenue from Contracts with Customers - Narrative   HTML     44K  
                (Details)                                                        
146: R133        Subsequent Events (Details)                         HTML     56K  
149: XML         IDEA XML File -- Filing Summary                      XML    287K  
147: XML         XBRL Instance -- fbnc-20211231_htm                   XML   6.84M  
148: EXCEL       IDEA Workbook of Financial Reports                  XLSX    232K  
10: EX-101.CAL  XBRL Calculations -- fbnc-20211231_cal               XML    473K 
11: EX-101.DEF  XBRL Definitions -- fbnc-20211231_def                XML   1.56M 
12: EX-101.LAB  XBRL Labels -- fbnc-20211231_lab                     XML   3.37M 
13: EX-101.PRE  XBRL Presentations -- fbnc-20211231_pre              XML   2.31M 
 9: EX-101.SCH  XBRL Schema -- fbnc-20211231                         XSD    364K 
150: JSON        XBRL Instance as JSON Data -- MetaLinks              782±  1.18M  
151: ZIP         XBRL Zipped Folder -- 0000811589-22-000010-xbrl      Zip    784K  


‘EX-31.1’   —   Certification — §302 – SOA’02


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Exhibit 31.1
Chief Executive Officer Certification Pursuant to 18 U.S.C. Section 1350,
As Adopted Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002
I, Richard H. Moore, certify that:
1.I have reviewed this Form 10-K of First Bancorp;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors:
(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
March 1, 2022/s/ Richard H. Moore
 Richard H. Moore
 Chief Executive Officer


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/1/22
For Period end:12/31/2111-K,  4
 List all Filings 


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/23/22  First Bancorp/NC                  424B3                  1:2.1M                                   Toppan Merrill/FA
 9/23/22  Grandsouth Bancorporation         DEFM14A                1:2.7M                                   Toppan Merrill/FA
 9/19/22  First Bancorp/NC                  S-4/A                 10:2.9M                                   Toppan Merrill/FA
 8/26/22  First Bancorp/NC                  S-4                    5:2.3M                                   Toppan Merrill/FA


28 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/28/22  First Bancorp/NC                  8-K:1,5,8,9 1/28/22   11:344K                                   Computershare C… Svcs/FA
12/27/21  First Bancorp/NC                  8-K:5,9    12/23/21   12:448K                                   Computershare C… Svcs/FA
 6/01/21  First Bancorp/NC                  8-K:1,8,9   6/01/21   13:29M
 2/26/21  First Bancorp/NC                  10-K       12/31/20  131:22M
 3/01/19  First Bancorp/NC                  10-K       12/31/18  136:16M                                    Computershare C… Svcs/FA
 3/01/18  First Bancorp/NC                  10-K       12/31/17  141:15M                                    Computershare C… Svcs/FA
 2/09/18  First Bancorp/NC                  8-K:5,9     2/06/18    3:150K                                   Computershare C… Svcs/FA
 5/01/17  First Bancorp/NC                  8-K:1,8,9   5/01/17    4:5.3M                                   Computershare C… Svcs/FA
 3/15/17  First Bancorp/NC                  10-K       12/31/16  141:18M                                    Computershare C… Svcs/FA
 3/09/17  First Bancorp/NC                  8-K:2,5,9   3/03/17    3:182K                                   Computershare C… Svcs/FA
 6/22/16  First Bancorp/NC                  8-K:1,8,9   6/21/16    4:6.3M                                   Computershare C… Svcs/FA
 3/07/16  First Bancorp/NC                  8-K:1,8,9   3/03/16    4:835K                                   Computershare C… Svcs/FA
 3/13/15  First Bancorp/NC                  10-K       12/31/14  142:39M                                    Computershare C… Svcs/FA
11/10/14  First Bancorp/NC                  10-Q        9/30/14   87:34M                                    Computershare C… Svcs/FA
 4/04/14  First Bancorp/NC                  DEF 14A     5/08/14    1:1.3M                                   Commerce Fin’l … Corp/FA
 3/17/14  First Bancorp/NC                  10-K       12/31/13  149:29M                                    Commerce Fin’l … Corp/FA
12/26/12  First Bancorp/NC                  8-K:1,3,5,712/21/12    6:1.4M                                   Commerce Fin’l … Corp/FA
11/09/12  First Bancorp/NC                  10-Q        9/30/12   89:16M                                    Commerce Fin’l … Corp/FA
 9/06/11  First Bancorp/NC                  8-K:1,3,5,8 8/30/11    6:1.4M                                   Commerce Fin’l … Corp/FA
 6/29/10  First Bancorp/NC                  S-3D        6/29/10    4:254K                                   Commerce Fin’l … Corp/FA
 3/16/10  First Bancorp/NC                  10-K       12/31/09   12:7.2M                                   Commerce Fin’l … Corp/FA
 1/13/09  First Bancorp/NC                  8-K:1,3,5,9 1/07/09    8:990K                                   Commerce Fin’l … Corp/FA
 6/23/08  First Bancorp/NC                  8-K:5,9     6/17/08    2:138K                                   Commerce Fin’l … Corp/FA
 3/27/07  First Bancorp/NC                  DEF 14A     5/02/07    1:943K                                   Commerce Fin’l … Corp/FA
 2/22/05  First Bancorp/NC                  8-K:1,9     2/15/05    2:79K                                    Commerce Fin’l … Corp/FA
11/09/04  First Bancorp/NC                  10-Q        9/30/04    6:925K                                   Commerce Fin’l … Corp/FA
 8/14/02  First Bancorp/NC                  10-Q        6/30/02    3:98K                                    Commerce Fin’l … Corp/FA
 8/16/99  First Bancorp/NC                  10-Q        6/30/99    7:93K                                    Commerce Fin’l … Corp/FA
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