FBNC FIRST BANCORP /NC/

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in only 1/4 quarters. Q1 2026: $1M, Q3 2025: $0M, Q2 2025: $0M, Q1 2025: $0M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

New buyback activity: $1M after no prior spending

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $1M / FCF $769M = 0% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,306,027 shares = 3.1% of 41,466,227 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

4 open-market purchases by 2 insiders

• Donnelly Abby Jill () bought 6 shares at $49.41 on 2025-07-24
• Donnelly Abby Jill () bought 40 shares at $49.42 on 2025-07-24
• Taylor Frederick Leslie () bought 562 shares at $41.04 on 2025-05-22
• Taylor Frederick Leslie () bought 5,238 shares at $41.28 on 2025-05-22

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

4 insider purchases but company buybacks inactive

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $1M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected